Review on Ravencoin by Pedro O. Alvino M.
Creation of tokens that represent physical and digital assets
Ravencoin, a cryptocurrency that was introduced to the market in early 2018 after it was delisted from the Bitcoin blockchain, had no initial coin offering and no pre-release, so that RVN coin distribution was more fair for community whereby the leaders and developers of Ravencoin also had no advantage in owning RVN coins.
Like Ethereum, EOS and Binance, Ravencoin also allows the creation of tokens that represent some physical asset, be it a property or represent a part of a project, where anyone can access said services for their company or business.
With open source code, much of the essential characteristics of the Ravencoin network descend from Bitcoin, taking into account security and greater flexibility in transactions, than despite having the PoW protocol that provides security to the network , the cost of energy is very high, in addition to adding that the project developers are taking provisions in the mining network to avoid a centralization in the network.
Pros
- Project from the Bitcoin chain with greater flexibility and range in transactions on the network.
- Allows the creation of tokens that can represent either a physical or digital asset.
- Includes the X16Rv2 algorithm that prevents mining farms and pools from taking over the mining network.
- Its token creation system can be used by any person and institution from any device.
- It has a messaging system that communicates between the holders and titles of the token.
Cons
- It faces big competitors in the market, such as Ethereum and EOS, which also allows the creation of assets.
- The PoW protocol may require high energy costs
