Review on Ravencoin by Kenan Chalabi

What is Raven Coin (RVN)?

Ravencoin is a digital peer-to-peer (P2P) network designed to implement a use-case-specific blockchain designed to effectively handle a specific function: the transfer of assets from one party to another. Ravencoin is built on the fork of the Bitcoin code. It was released on October 31, 2017, and the binary file for mining was released on January 3, 2018. The so-called fair release: no pre-mining, ICO or master node. Its name comes from the television series "Game of Thrones". Chapter

Who is the founder of Ravencoin? The

Ravencoin White Paper is published by Bruce Fenton, Tron Black, and Joel Weight.

They stand out from most crypto crowds because they were all seasoned entrepreneurs and developers before starting this project.

Fenton is widely known in the crypto space for serving as a board member and CEO of the Bitcoin Foundation from 2015 to 2018. Prior to joining cryptocurrency, he served as the vice president of Morgan Stanley and the managing director of Atlantis Consulting in the 1990s for 13 years and has a rich investment banking career. He is currently the managing director of Chainstone Labs, an invisible fintech startup.

Tron Black is a leading software developer with more than 30 years of experience, including leading various software companies as CEO. Since 2013, he has been working on encryption for a number of companies, including Verified Wallet, CoinCPA, and t0. He is currently working with Medici Ventures, a subsidiary of Overstock.com, focusing on blockchain technology applications.

Weight is the CTO of the popular online retailer Overstock.com. Prior to this, he also served as chief operating officer and chief technology officer at Medici Ventures. He is a senior software developer who started his career after graduating from the University of Utah in 1998, during the Internet bubble.

What makes Ravencoin unique?

As a fork of the Bitcoin code, Ravencoin introduced four key changes: revised issuance schedule (with 5,000 RVN block reward), lock-up time is reduced to one minute, and coin supply cap is 21 billion (10 times more than BTC) And the mining algorithm (KAWPOW, formerly X16R and X16RV2 respectively) aims to alleviate the centralization of mining caused by ASIC hardware.

Ravencoin aims to solve the problem of asset transfer and transaction through the blockchain. Previously, if someone created an asset on the Bitcoin blockchain, when someone traded the coin it created, it might be accidentally destroyed.

RVN coin is designed as an internal currency in the network and must be burned to issue token assets on Ravenchain. Assets can represent anything: real-world custody items, such as physical gold or euros, virtual goods and items, part of stocks and stocks, airline miles, or someone’s one-hour salary, etc.

A future planned version of the Ravencoin protocol will support integrated voting and messaging systems.

Related pages:

Learn more about Counterparty, one of the earliest encryption protocols for asset transactions.

It may be time to delve into Polkadot, a booming multi-chain protocol that can easily be transferred between data chains or assets.

What is ASIC mining?

Do you want to know how it started? Read our explanation about Bitcoin.

Are you ready to learn more about encryption? Check out our blog for the latest cryptocurrency news and knowledge.

How many Ravencoin (RVN) coins are in circulation?

Ravencoin insists on being as fair and open as possible to new cryptocurrencies. There is no pre-mining, no ICO, and no coins held for rewards to developers or founders.

Ravencoin insists on being as fair and open as possible to new cryptocurrencies. There is no pre-mining, no ICO, and no coins held for rewards to developers or founders.

In the three years since its establishment (as of March 2021), 39% of the coins have been mined. The total supply is limited to 21 billion coins.

How is the Ravencoin network secured?

Ravencoin is a branch of Bitcoin, so it is protected by decentralization and mathematical power. It uses a test mining algorithm called KAWPOW, which replaced X16R and X16RV2 on May 6, 2020. This not only ensures safety, but is also designed to be ASIC resistant. The X16r algorithm group originally adopted by uses 16 different hashes for each mining block, but their order of use is different for each block, and comes from the last 8 bytes of the hash of the previous block. Adapting to the needs of each cycle does not think that ASIC has any advantage over CPU and GPU. However, in the end ASIC was created for it, Ravencoin had to switch to a completely different algorithm, KAWPOW, which is a slightly modified version of ProgPow, which itself is an evolution of Ethash and optimized for mining on GPU.

It uses a test mining algorithm called KAWPOW, which replaced X16R and X16RV2 on May 6, 2020.

This, combined with the promise of fair distribution without pre-mining, aims to ensure that no individual or individual organization has or may have enough hashing power to attempt a 51% attack or cause some type of artificial impact on product prices. Market . .

Unfortunately, on June 3, 2020, a known successful hacking of the Ravencoin blockchain was reported to the public. During the attack, the hacker managed to permanently mint 1.315 billion RVN coins, which accounted for about 1.5% of Ravencoin coins. The supply limit is 21 billion. At the time of the announcement, the price of the stolen RVN was estimated at $5.7 million. None of the existing wallets were directly affected by the attack.

Where can you buy Ravencoin (RVN)? And How you can buy Ravencoin?

RVN is a free trade currency paired with stablecoins (such as Tether (USDT)), other cryptocurrencies (such as Bitcoin and Ethereum), and fiat currencies.

The main exchanges currently trading on Ravencoin are Binance, Huobi Global, OKEx, ZG.com and VCC Exchange. You can find the others listed on our encrypted exchange page.

Also please do not confuse it with Revain. Thanks.