Review on Ravencoin by Toprak Dere
About Ravencoin (RVN)
One of the promising areas in blockchain is asset digitization. This means representing a physical entity on the blockchain. Ravencoin is a blockchain project focused on enabling assets to be transferred from one user to another.
Ravencoin's consensus mechanism is the same as Bitcoin: Proof-Of-Work (PoW). However, there is a different hash algorithm from Bitcoin. While Bitcoin implements the SHA-256 hash algorithm, Ravencoin uses the X16R algorithm. This algorithm does not allow ASIC mining.
Ravencoin was made as an alternative to Bitcoin or ERC-20 transfer protocols. The PoW consensus mechanism is used to protect users' data. The Ravencoin mining award started at 5,000 RVN.
The tokenization of assets and securities is an important advantage that Blockchain technology brings to the financial sector. While there are many players in this field, Ravencoin stands out with its POW model and ASIC resistance. As the demand in this field increases, Ravencoin is positioned as one of the most important aspects in digital asset transfer.
Unlike most Blockchain projects that aim to solve two or more problems at the same time, Ravencoin focuses solely on asset transfer. This niche area could prove that Ravencoin could be a force to raise awareness in the coming months.
Pros
- Security is one of the most important goals of the Ravencoin project. Since the blockchain itself works similarly to Bitcoin, the safer Bitcoin is, the more secure Ravencoin can be said. This security market value is provided by the strong mining community.
- Ravencoin provides privacy as well as secure. Ravencoin distinguishes between a token holder's address and their real identity. This prevents the true identity of the Ravencoin owner being known.
- future is bright and roadmap is perfect
Cons
- none
