Ravencoin was created and launched in 2018. Ravencoin was built on a fork from the Bitcoin code. Ravencoin is a bitcoin-like system that allows users to issue and integrate assets into its blockchain. Differences between the two coins include the block reward time of one minute, a max supply of 21 billion coins, and the addition of asset creation and messaging capabilities. RVN is issued fairly and mined using the Proof of Work (POW) KAWPOW algorithm. Ravencoin doesn’t have a founder and was built using open source. This means that the entire project was community driven with over 400 Bitcoin developers involved in the creation. Zero RVN were pre-mined before the official release date, giving the entire world the opportunity to start mining at the same time. RVN’s main purpose is to be a cryptocurrency coin that emphasizes transferring assets, security, voting, messaging, user control and censorship resistance. Ravencoin assets built on its blockchain is an undervalued feature of the RVN coin. Ravencoin assets are specifically designed to handle the creation and transfer of assets from one party to another. Ravencoin assets are like ERC-721 tokens which can represent unique items such as artist pictures or drawings.
Ravencoin is still a very new cryptocurrency but is has several unique features that will be valuable once cryptocurrency becomes mainstream. Token issuers can communicate with token holders through RVN messaging system. The messaging system also allows token issuers to issue tokens to represent votes. Ravencoin will create an exact number of ‘vote’ tokens and distribute them 1:1 to the token holders. These votes can be sent via the protocol to addresses that tally the votes. The RVC project can be a base for several new projects not to mention other second layer solutions like the Lighting Network can be built on top of RVC’s blockchain. At the time of writing this article, Ravencoin is worth $0.1094. A Nvidia 3090 GPU will produce $4.15 of revenue a day with 62% profitability. Mining farms should allocate some of their GPUs to mine RVC for the purposes stated in this article. People will not realize the value of Ravencoin until the world understands the value of Bitcoin, therefore long-term miners of RVC will be rewarded.
References
“Leading Cryptocurrency Platform for Mining and Trading.” NiceHash, https://www.nicehash.com/blog/post/what-is-ravencoin.
Ravencoin: A Peer to Peer Electronic System for the … https://ravencoin.org/assets/documents/Ravencoin.pdf.
