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Ravencoin coin Review : Is It Good Or Bad Coin Read Our Article

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About Ravencoin coin

Ravencoin coin 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.

Ravencoin coin Point Table

Coin BasicInformation
Coin NameRavencoin coin
Short NameRVN
Circulating Supply11.82B RVN
Max Supply21,000,000,000
Source CodeClick Here To View Source Code
ExplorersClick Here To View Explorers
Twitter PageClick Here To Visit Twitter Group
WhitepaperClick Here To View
Support24/7
Official Project WebsiteClick Here To Visit Project Website

How Ravencoin works

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 (original block reward of 5,000 RVN)
  • Block time (1 minute)
  • Coin supply (21 Billion)
  • Mining algorithm (KAWPOW formerly X16R and X16RV2 respectively)

Problem

The algorithm is intended to address the centralization of mining caused by ASIC hardware. In the original X16R algorithm paper, the team behind the currency explains that the fixed order of ordinary hashing algorithms lends itself to the construction of ASIC miners. The initial X16R algorithm aimed to overcome this problem by constantly disrupting the ordering of the hashing algorithms – it uses the same algorithms used in X15 and SHA512, but the ordering of those algorithms was changed based on the hash of the previous block.

Eventually it became economically viable for X16R ASIC’s and the community decided to implement new algorithms to mitigate the unfair distribution of Ravencoin. The community has carried out 2 algorithm forks to date to mitigate the potential efficiency improvements of the ASIC miners equipment compared to over the counter consumer grade equipment.

Solution

The current  KAWPOW algorithm aims to overcome the problem of centralization of mining by utilizing over the counter graphic processing unit (GPU) memory and compute capabilities. This is intended to allow most consumer grade GPU hardware to mine Ravencoin. The KAWPOW algorithm was derived from Prog POW and ethos, with modifications, to improve the distribution of Ravencoin to everyone.

Why Choose Ravencoin coin?

No additional future algorithm forks are envisaged. Note that this may allow future ASIC development to proceed, albeit as there is a limited potential for ASIC efficiency gains compared to consumer grade hardware, they are resistant to this form of centralization.

Unique characteristics of Ravencoin

  • ASIC resistant – Uses the KAWPOW hashing algorithm to discourage the development of ASIC hardware
  • Fair launch – Everyone has equal opportunity to mine or purchase RVN since day one.
  • No pre-mine, no ICO, and no coins held for developer or founders rewards.
  • Community Driven, and True Open Source

Where Can You Buy Ravencoin coin?

Tokens Can Be Purchased On Most Exchanges. One Choice To Trade Is On Binance As It Has The Highest RVN/USDT. e Trading Volume, $8,947 As Of February 2021. Next is OKEx, With A Trading Volume Of $6,180,82. Other option To Trade Include RVN/USDT And Huobi Global. Of Course, It Is Important To Note That Investing In Cryptocurrency Comes With A Risk, Just Like Any Other Investment Opportunity.

Market Screenshot

Ravencoin coin market screenshot

Ravencoin coin Supported Wallet

Several Browser And Mobile App Based Wallets Support Ravencoin coin. Here Is Example Of Wallet Which Ravencoin coin – Trust Wallet For Hardware Ledger Nano.

FAQ Of Ravencoin coin

Where I Can Find Ravencoin coin Whitepaper?

You Can Find Ravencoin coin Whitepaper By Clicking Here.

Where I Can Buy/Sell Balancer Token?

You Can Buy or Sell Balancer Token On Some Popular Exchange For Example – Binance.

What is Circulating Supply Of Balancer Token?

Circulating Supply Of Balancer Token Is 11.82B RVN.

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Disclaimer

Crypto investments come with high risk and you should always exercise caution when investing in any crypto asset. Investing in crypto carries a high level of risk, and may not be suitable for all investors. Any investment decisions made by you are made at your own risk and we are not responsible for any losses that may occur. Before investing, we recommend you consult a financial advisor to understand the risks and rewards associated with investing in crypto.

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