Review on Ravencoin by Jerry Siegel
Ravencoin (RVN)
Ravencoin is a digital P2P network designed to transfer digital value from one person to another. It is a fork of Bitcoin allowing tokens to be created on it's own blockchain. The project is completely open source, launched in January 2018, with no ICO.
Coin technicals:
Ravencoin represents the ultimate RVN cryptocurrency, and a universal blockchain, mining process of which are resistant to centralized ASIC mining. Thus, it is an improved and more decentralized BTC (in terms of the mining), with the ability to issue tokens. At its core, RVN code is exactly the same as the BTC code. However, there are a few differences:
1) The total issue is not 21 million, but 21 billion.
2) Scheduled block rewards (5000 RVN)
3) Advanced AISC-resistant mining algorithm X16R
Features:
1) Ability to issue tokens (Asset Layer)
Ravencoin has the ability to tokenize real assets, for example: we can have digitized stocks and pay dividends, tokenize property rights licenses and much much more. Tokenization of everything material. There is also the possibility of issuing unique tokens, like ERC721 standard on Ethereum.
2) Mining algorithm X16R
This algorithm was developed by the creators of the project specifically for Ravencoin. It's not just ASIC-resistant. It is specifically designed to shatter the future hopes of centralized moneybags like Bitmain.
Team and community:
Researching the project, I was very surprised, and pleasantly surprised. Let's start with the fact that the site doesn't have "Our Team" page. That's the surprising part: there is none of that pictures of their “employees”, and links to their social networks, which is screaming: “look at us, we are real!”.
I found the creators of Ravencoin in the Whitepaper, they were mentioned as authors on the first page:
Bruce Fenton is the main figure of Ravencoin, an early crypto investor, and is very well known person in the world of cryptocurrencies: founder of the financial company Atlantic Financial, co-founder of the Bitcoin Association and organiser of the very first Dubai Bitcoin Conference.
Tron Black is the main developer of Ravencoin, the founder of several successful startups in the IT field, including CoinCPA (a cryptocurrency accounting system, created in 2013).
All other people working on the project (developers, designers) are not employees but the project community and followers. This fact speaks for itself. This is what is meant by decentralized enitity. In terms of social networks - everything looks organic. Followers are really involved in this project.
Overall impression:
Real decentralization. This can be seen even from the way the management of the project itself is arranged. This is a decetralized TEAM, this project is being developed by different people around the world - this is true decentralization. This is how the future should be - in the hands of committed and passionate people, which is driven by the fierce idea.
Ravencoin is the team of the future, not the company of the past. This is not a "company" at all, these are interested people, and they are not interested in salaries, but in the ideological result. Ravencoin by all means fits the vision of Satoshi, and also quite organically supplements its existence with the root cause of the creation of the Bitcoin payment network.
If in the heart, at the root of the project, lies the idea of decentralization, if the people who are engaged in it want to do something for the blockchain, then this project will pass any tests, then it is worthy. Ravencoin is one of such projects. Overall imperssion is 10/10.
Pros
- It is based on Bitcoin code, with several improvements like the ability of tokenization of the assets and a true ASIC-resistant consensus algorithm.
- Truly decenralized management and very active community of the followers and ideological supporters.
Cons
- The project today does not getting enough attention and the acknowledgement it deserves.
