What is Ravencoin?
Ravencoin is a digital peer to peer network that aims to implement a use case specific blockchain, designed to efficiently handle one specific function: the transfer of assets from one party to another. Built on a fork of the Bitcoin code, Ravencoin was launched January 3rd, 2018, and is a truly open source project (no ICO or masternodes). It focuses on building a useful technology, with a strong and growing community.
How Ravencoin works
A Ravencoin post on Medium from November 2017 references Game of Thrones when introducing this experimental currency: “In the fictional world of Westeros, ravens are used as messengers who carry statements of truth. Ravencoin is a use case specific blockchain designed to carry statements of truth about who owns what assets”.
Launched on January 3rd, 2018, the ninth anniversary of bitcoin’s launch, Ravencoin is an open-source project designed to enable instant payments to anyone around the world. The aim of the project is to create a blockchain optimized specifically for the transfer of assets such as tokens from one holder to another.
A fork of the bitcoin code, Ravencoin features four key changes:
The issuance schedule (block reward of 5,000 RVN)
Block time (1 minute)
Coin supply (21 Billion)
Mining algorithm (X16R)
Unique characteristics of Ravencoin
- ASIC free – Uses an X16R hashing algorithm
- No Premine – Genesis Block launched, opening mining started
- Fair Launch – meaning, on day one, you like everyone else could have started
- No rush to link up with an exchange
- Individuals ask about price and do price checks, developers agnostic
https://medium.com/@ravencoin/ravencoin-4683cd00f83c
