Ravencoin is a digital peer-to-peer asset transfer network. The network got its inspiration from the mythical world of Westeros.
The goal of the project is to create a blockchain optimized specifically for transferring assets such as tokens from one owner to another.
The development of this project would not have been possible without the hard work and efforts of over 400 Bitcoin developers. These developers have made over 14,000 transactions to date during the lifetime of Bitcoin. Raven project owners will be eternally grateful for their due diligence in securing the network. Ravencoin was built on the foundation created by these developers.
In the Ravencoin white paper, the developers admit that their code was built on top of the UTXO Bitcoin protocol. The separate fork of Ravencoin in the Bitcoin code includes several changes from the original, in particular, without a weighted schedule of distribution and creation of assets and messaging capabilities.
Bitcoin code fork, Ravencoin has four key changes:
* Release Schedule (RVN 5000 reward)
* Blocking time (1 minute)
* Coin (21 billion)
* Mining Algorithm (X16R)
Essentially, Ravencoin uses a unique token system to move assets across the blockchain, and this feature has been prioritized above all others. Ravencoin also has a messaging system for token holders. Token holders who do not want to receive messages can opt out of the system.
Free and secure movement of various assets using open source code that can be constantly improved.
“If the global economy is influenced by actors using various locks, then how capital markets work today can also change,” the developers wrote in their article. “Borders and jurisdictions may become less relevant as more assets become tradable and trade across borders becomes increasingly futile. In an era where people can instantly move significant amounts of wealth using Bitcoin, global consumers are likely to demand the same efficiency for their securities and similar assets. "
The developers offer a list of suggestions in their whitepaper, with the caveat that the list is suggestions only. Almost anything can be sent via Ravencoin due to its special focus on this ability. Among the proposals: physical valuables such as gold bars, silver bars or rare documents; physical currency and real estate transactions; virtual goods such as in-game currency or e-tickets for sporting events; and credit dealers such as airline miles or gift cards.
Each transferred object is represented by an untagged token created by a user of the Ravencoin platform.