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Cryptocurrencies

Ravencoin

Ravencoin (RVN)

Ravencoin (RVN) is an open-source, decentralized blockchain platform. The project's whitepaper was published in 2017 by Joel Weight, Bruce Fenton, and Tron Black. It officially launched on January 3, 2018, and notably did not involve an Initial Coin Offering (ICO), pre-mining, or master nodes. Ravencoin's primary objective is to facilitate simple token issuance and management of tradable assets on a blockchain. As a fork of Bitcoin, it employs similar technology but introduces variations such as block reward time, the number of coins issued, asset creation, and messaging capabilities.

Ticker RVN
Category Cryptocurrency
Website https://ravencoin.org/
Twitter @ravencoin
Telegram RavencoinDev
Reddit https://www.reddit.com/r/Ravencoin

Overview

Kawpow algorithm

Ravencoin utilizes a Proof-of-Work (PoW) consensus mechanism known as KAWPOW. This unique mining algorithm is designed specifically for the trading of Ravencoin assets. It validates transactions and facilitates the distribution of newly minted Ravencoins.

Hashing algorithms

Hashing involves transforming raw information into a format that cannot be reverted to its original form. A hash function performs mathematical operations on the plaintext, producing a hash value or digest.

Ravencoin network

Ravencoin's native coin is RVN. In 2020, the KAWPOW algorithm replaced the earlier X16R and X16RV2 algorithms, which used 16 different hashing algorithms for each mining block. KAWPOW is derived from ProgPOW and specifically tailored for Ravencoin. It represents the third mining algorithm iteration for Ravencoin, evolving from previous versions.

RVN's informatics

What type is RVN?

Ravencoin is a decentralized open-source cryptocurrency that enables users to conduct nearly instantaneous transactions. The name is inspired by the fictional world of Westeros from the Game of Thrones series, where ravens are used as messengers to carry statements of truth.

Tokenomics

Token issuance

To create a new asset, users must burn a specific amount of RVN coins to provide a unique identifier for their tokens. Ravencoin's built-in messaging system allows token creators to communicate directly with token holders, enhancing transparency and trust within the ecosystem.

RVN halving

Ravencoin undergoes a halving process approximately every four years, reducing the mining rewards for RVN tokens by half. The first halving event took place on January 11, 2022. This process enhances blockchain security, with the next expected halving around January 11, 2026.

RVN's use cases and applications

Ravencoin can be used to tokenize a variety of assets, including gold, stock, rewards, virtual items, and digital art. In 2018, Medici Ventures completed a significant digital securities token transfer via the Ravencoin blockchain to acquire equity in Chainstone Labs. Ravencoin also supports the creation of NFTs through the MangoFarm platform, enabling tokenization without the need for smart contracts.

Portfolio

Ravencoin has established itself as a dynamic player in the market, offering users the ability to design and issue unique tokens on its blockchain. Over the years, various enterprises have adopted Ravencoin's technology to create digital assets. In addition to its tokenization capabilities, RVN serves as a currency for transactions.

Business users

Food and beverages
  • H-Town Donuts in Houston accepts RVN.
  • Estate 88 in Sydney is a coffee shop that caters to cryptocurrency enthusiasts.
  • Vinsent Wine allows users to purchase new wines using RVN.
Other businesses
  • Crypto Merch: An online shop featuring crypto-themed merchandise.
  • Smoo's Slimes: Offers a Limited Edition Ravencoin slime featuring the primary colors of the Ravencoin logo.
  • Iozeta: Sells innovative crypto candy machines that dispense candy upon payment.
  • Crypsino: A casino platform allowing users to gamble with RVN.
  • Kalimbera: An online store selling Kalimbas, small musical instruments, accepting RVN.
  • Scots Rum: A project raising funds for a distillery using the Ravencoin blockchain.
  • Project 33: A group of artists creating unique artworks with tokens issued on the Ravencoin blockchain.

Supporters

RVN can be traded on popular exchanges such as Binance, OKX, KuCoin, and Huobi Global. It can be used for various purposes, including energy credits, land deeds, virtual goods, and more.