Initially, when assets are created on the blockchain, they could be lost or destroyed accidentally when the newly created token assets are traded with the coins via which they were traded. To solve this problem, Ravencoin was forked out of the Bitcoin code to be an internal currency within the Bitcoin Network, which allows users to create new token assets on the Raven chain via burning the Raven coin, and that facilitates the instant transfer of assets from one crypto user to another anywhere on the world.<\/p>\n\n\n\n
The created token assets can represent anything from fiat currencies to gold. Virtual goods and material objects, to stocks and securities, among others. What Raven Network does is that it digitalizes tangible world tradable assets and makes it possible for crypto users to secure rights to them.<\/p>\n\n\n\n
The idea of Ravencoin is to function like the Ravens, as stated in the Medium maiden post, which introduced the project, to create and carry marks of truth in authenticated history about who assets belong.<\/p>\n\n\n\n
Ravencoin is a virtual peer-to-peer blockchain created to efficiently handle the transfer of assets from one holder to another. It is an open-source project focused on building a specific use case technology that eliminates the barriers to the person-to-person financial interaction on the blockchain.<\/p>\n\n\n\n
The project aimed to deploy a blockchain that specifically and effectively facilitates the transfer of token assets from one user to another and prevents the accidental loss of newly created token assets when traded with the networks or coins via which they were made. It is a product of a forked bitcoin code; however, it differs from the Bitcoin in the following ways:<\/p>\n\n\n\n
The KAWPOW algorithm overcomes the mining centralization problem of the ASIC mining hardware. The algorithm is the product of modifications on the PROGpow and ethhash to improve the distribution of the Ravencoin. The algorithm employs Graphics Processing Unit (GPU) memory and computer capabilities, making it possible to mine Ravencoin without any custom grade, high-tech hardware. This algorithm makes Ravencoin very energy efficient and simple to mine. Ravencoin is so flexible that it can be mined on mobile devices.<\/p>\n\n\n\n
The project was launched in January of 2018 by Bruce Fenton, Tron Black, and Joel Weight as Bitcoin marked its 9th anniversary in enabling instant transactions between persons around the world.<\/p>\n\n\n\n
The cryptocurrency space creates a broad platform of opportunities for developers by creating several specific use case cryptocurrencies. These specific use case coins will expand the community and hasten integration within daily financial activities. Creating a platform that makes the creation of these token assets possible and seamless and makes the instant financial interaction between asset holders anywhere in the world possible is a great advantage for Ravencoin.<\/p>\n\n\n\n
Ravencoin has a faster block time than bitcoin and Ethereum, more significant block rewards, and a larger Max coin supply. With its unique decentralized mining design, power consumption is very efficient, and transaction cost is low. It processes more transactions per second than almost every other altcoin, with a tiny-sized transaction block size that can be expanded further.<\/p>\n\n\n\n
Today, anything with value in the real world can be seamlessly converted into valuable tokens using the Ravencoin blockchain. Raven’s capacity for tokenization has opened the platform to numerous partnerships from a business that uses the coin as a payment method. The partnerships include Crypto Posters, an online crypto shop for crypto goods; H-Town Donuts, a donut shop; Estate 88 Coffee, an Australian coffee bean seller; and Vincent Wine, a marketplace for new wine discovery and purchase. All of the afore listed businesses accept Ravencoin as payment.<\/p>\n\n\n\n
Ravencoin has partnered with SMOO’s Smiles, Lozela, Crypsino, a casino platform; Kalimbera, Scots Rum, and Project 33. In addition, Ravencoin is in partnership with the most prominent exchanges such as Binance<\/a>, Huobi, Bittrex, By bit, and CoinEx, among others.<\/p>\n\n\n\n Ravencoin is currently worth $<\/b>0.003531<\/span><\/span><\/span><\/strong> USD. RVN has moved -0.42%<\/span><\/span><\/strong> in the last 24 hours with a trading volume of Ravencoin (RVN) Current Price<\/h2>\n\n\n\n