Review on Ravencoin by Benaiah A. Akinlade
Ravencoin: Using KAWPOW algorithm to redefine decentralization
Ravencoin is a decentralised digital P2P blockchain fork of Bitcoin that was launched in January 2018. It is an open source community-driven project due to the fact that it doesn’t come with any ICO nor does it have masternodes. It comes with features that distinguishes it from its bitcoin related features such as:
1. A Block reward of 5000 RVN for miners instead of the 50 BTC for bitcoin.
2. It has a 60 second Block time compared to 10 minutes block time of bitcoin.
3. It has a coin supply of 21 billion in total compared to the 21 million of bitcoin.
4. It comes with a new mining algorithm known as KAWPOW which gives more room for decentralized mining.
5. Eliminating the mining centralization which was caused by ASIC hardware.
The Ravencoin project was designed to make instant payments possible worldwide and to create a blockchain meant specifically for transferring assets between holders.
You can mine RVN on the following mining pools:
2Miners
Bsod
Coinotron
MinerMore
MiningPoolHub
Nanopool
RavenMiner
Suprnova
ZPool
You can hold your RVN tokens in these wallets
:
Trust wallet
Atomic Wallet
D'CENT wallet
Cobo Wallet
Coinpayments wallet
Crypto. com wallet
Edge wallet
Flare wallet
Exodus wallet etc
RVN trades actively on the following custodial and non custodial crypto exchanges:
Bitni exchange
BC Bitcoin exchange
ChangeAngel exchange
CoinSwitch exchange
ATAIX exchange
Changelly
Coinall exchange
ChangeNow exchange
OKEx exchange
DEX Trade exchange
ProBit exchange
Bittrex exchange
Binance exchange etc
The Ravencoin project is an encouraging project. All I’m looking forward to is when the token’s trading volume becomes high value.
Pros
- It is ASIC resistant because of its KAWPOW hashing algorithm
- There is no pre-mine and ICO for RVN
- The project is Community Driven
- It is a p2p open source project
- Listed in many crypto exchanges
- It can be mined on several mining pools
- It is well accommodated on a good number of wallets
Cons
- RVN has a low trading volume
