Review on Ravencoin by Japheth Ayuba
My Ravencoin review
The Ravencoin project is one project I have come to love and appreciate. In the general sense, Ravencoin is a free and open source project that is a fork of the Bitcoin's project using the Bitcoin's Blockchain to build on its own but with some exceptional additions to it's Blockchain such as a larger coin supply of 21 Billion coins as compared to Bitcoins 21 million coins, a shorter blocktime of just 1 minute as opposed to Bitcoin's 10 minutes blocktime and a hashing algorithm resistant to ASIC mining which gives every miner a fair chance to mine this token with their PC hardware. It's true Open-source commitment can be seen in the fact that the project had no Pre-mining event or an ICO before launching and to prove this point further, it's opting for an X16r algorithm which is designed to be an ASIC-resistant mining was elected by it's Community. The major use case of this project is to transfer assets from one party to another. This assets are transfered by tokenizing the said assets such as artwork, video game assets etc. The Ravencoin project coin is the RVN which has a low trading price but sure will be back on its highs as Many private organizations have made use of the project for what it offers so I can say it is a sure go for any investor.
Pros
- The project can be used to tokenize assets even with a smartphone, no PC needed or smart contract
- Uses an ASIC-resistant mining to support small miners
- Completely a community developed project
- As a Bitcoin fork, it improves on many area Bitcoin haven't been able to scale
Cons
- There is no negative comments on this great project
