Buy Ravencoin RVN

What is Ravencoin?

Ravencoin is a peer-to-peer blockchain platform optimised for the efficient creation and transfer of digital assets and tokens. It was specifically designed to offer a decentralised system for issuing and transferring assets, such as real-world commodities, securities, and virtual goods, on a secure and reliable blockchain network.

How does Ravencoin work?

Ravencoin operates by using a blockchain forked from Bitcoin, which means it shares many of Bitcoin's security features. It has modifications tailored to asset creation and transfer, incorporating a faster block time of 1 minute and the KAWPOW mining algorithm. KAWPOW is ASIC-resistant, promoting decentralised mining by preventing the dominance of specialised mining hardware. Users can create tokens by burning RVN coins and setting custom properties for their tokens, which are then transferred across the network without needing smart contracts.

What are the potential use cases for Ravencoin?

Ravencoin has several potential use cases due to its flexible asset creation capabilities:

1. Tokenization of real-world assets: It allows the creation of tokens representing assets like gold, stocks, and real estate.
2. NFTs: Users can mint non-fungible tokens, representing unique digital items like art or collectibles.
3. Digital securities: Companies can issue shares or other securities in digital form on the Ravencoin blockchain.
4. Water rights and other resources: It simplifies transactions for tokenised water rights, ownership confirmation, and resource management.
5. Crowdfunding: Platforms can leverage Ravencoin to fund projects through tokenised assets and incentives.

What is the history of Ravencoin?

Ravencoin was founded by Bruce Fenton and Tron Black and launched on January 3, 2018. It was developed as an open-source project without a pre-mine, ICO, or masternodes, promoting a fair distribution of RVN tokens. Initially, it employed the X16R algorithm but later transitioned to the KAWPOW algorithm to ensure further decentralisation. The project received funding from Medici Ventures, a blockchain-focused subsidiary of Overstock.com, and has since evolved with a robust community of contributors and developers.