Ravencoin PriceRVN

What is Ravencoin (RVN) ?

The Ravencoin (RVN) blockchain is an open-source software system to allow users to issue tokens and help to transfer a digital asset from one to another party. It was developed on bitcoin's codebase fork. That means developers can use Bitcoin's code to add more features and functionality to pursue different and unique goals.  

Using the protocol, a network of computers can be rewarded for operating the platform, allowing users to create and transfer blockchain assets that can even represent real-world commodities, securities, collectables, and loyalty rewards, such as airline miles.

How Does Ravencoin Work?

Although Ravencoin's architecture is broadly similar to Bitcoin's blockchain, a few critical differences enable tokens created and transferred on the network to be completed and communicated.

Although Ravencoin's code is based on a fork of Bitcoin, it has its network, assets, and protocols. For mining on Ravencoin, Ravencoin uses a variant of the Proof of Work consensus mechanism called KAPOW. Using KAWPOW, Ravencoin's protocol is secured, transactions are validated, and newly mined RVN is distributed across servers running Ravencoin.

Who Are the Founders of Ravencoin?

Ravencoin was launched in 2018 by the trio's co-founders, Bruce Fenton, Joel Weight, and Tron Black. Unlike most crypto enthusiasts, all three had extensive business and software development experience before getting involved.
 

Being an executive director and board member of the Bitcoin Foundation made Fenton a familiar face in crypto circles. As a Morgan Stanley vice president in the nineties, he had an impressive career in investment banking before entering blockchains.
 

Medici Ventures, which created the Ravencoin blockchain, is owned by Overstock.com, Weight's employer. A software developer with a resume spanning the dot-com bubble, he was previously the chief operating officer and technology officer at Medici Ventures.
 

In addition to leading several software companies as CEO, Black has also had a long and successful career. In addition to CoinCPA and Verified Wallet, he has worked on several crypto ventures, including t0.com's software development team. Ravencoin was developed and launched by Medici Ventures when he was a principal software developer.
 

The raven coin foundation was established as a non-profit in 2020 with the aim assists and protecting the Ravencoin project.

What Makes Ravencoin Unique?

As compared to Bitcoin, Ravencoin features four key differences:

• A 5,000 RVN block reward on the Ravencoin blockchain allows users to issue personalized assets;
• The block time has been reduced to one minute;
• The total supply of RVN is capped at 21 billion units - 1,000 times more than Bitcoin;
• Designed to mitigate ASIC-induced mining centralization caused by KAWPOW hashing.

By using IPFS and JSON, token holders can now broadcast messages to all token holders within their wallets using recently added functionality. A token voting system also enables token owners to ask token holders a question, hold a poll, and collect their votes.

In keeping with Ravencoin's commitment to decentralization, there was no pre-mine or presale of RVN coins, and no funds were set aside for developers, Medici Ventures, or anyone else involved in the project.

What Gives Ravencoin Value?

Ravencoin's RVN coin possesses value as it is essential for creating new assets on the Ravencoin network. Once miners have verified their work by the network, Ravencoin rewards their efforts by rewarding them with coins.
 

In addition to issuing their tokens, RVN allows users to create monetary policies and features. As Ravencoin becomes more popular as a medium for creating and exchanging digital assets, it could become a store of value over time.


 

Ravencoin (RVN) Token Metrics

Where is the Ravencoin (RVN) coin available?

Ravencoin (RVN) is available on a variety of cryptocurrency exchanges. The list of quick, secure, and easy exchanges is listed below. 
 

• Binance
• Gate.io
• KuCoin
• Huobi Global

You can check the whole list of exchanges here to buy Ravencoin (RVN).

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