Ravencoin Review: Why RVN Has Potential in 2020!
📝 Project Overview 📝
Ravencoin was launched on the 3rd of January in 2018. Ravencoin is a fork of the Bitcoin codebase and was developed specifically as an asset transfer and token issuance blockchain.
Traditional securities that are tokenized on the Ravencoin blockchain and can be issued, traded and redeemed.
There was no ICO or Pre-mine of the coin so there was fair mining from day one.
⚙️ Technology ⚙️
Altought Ravencoin is a Bitcoin fork, there are a number of key differences.
Firstly, you have a 1 minute block time compared to Bitcoin's 10 minutes. Secondly, Ravencoin has a 21 billion max supply which is 1,000 times larger than Bitcoin's 21 million.
The final protocol difference is that Ravencoin uses the X16R Mining algorithm whereas Bitcoin uses SHA256. This makes Ravencoin ASIC resistant.
Assets on the Ravencoin blockchain are tokens that can be issued by the users. Once these users have created these assets, they can decide the purpose of the assets and the rules that govern them.
💰️ Token 💰
RVN is used in the Ravencoin network as to issue the digital securities or to pay out the holders their required rewards.
There is a current supply of just over 5 billion RVN. This entered the market over the past two years as miners earned it through block rewards.
The current block reward is 5,000 RVN per block and this is the same block reward that miners have been earning since the launch of the genesis block.
👨💻️ Team, Partners & Development 👨💻
Two of the most notable names behind the project are Bruce Fenton and Tron Black.
Bruce Fenton has been involved with Bitcoin and blockchain for quite some time and is one of the founder's of the Bitcoin foundation.
Tron Black is the lead developer on the Ravencoin project and has founded a number of different companies and is currently also the principle software engineer at Medici Ventures.
Medici Ventures is owned by Overstock which is the company that is behind a number of other blockchain ventures including tZero.
There has been quite a lot of development on the Ravencoin protocol which you can verify in the Ravencoin GitHub repositories.
📈 Trading & Wallets 📈
RVN has a pretty reasonable exchange support and includes the likes of Binance, Bittrex and UpBit. There is also decent liquidity which can aid in trading of large block orders.
The best wallet for Ravencoin is the core wallet which allows for the asset issuance. However, there are a number of other wallets that support the coin including a ledger hardware device.
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⛓️ 🔗 Helpful Links 🔗 ⛓️
► Website: https://ravencoin.org/
► Whitepaper: https://ravencoin.org/assets/document...
► GitHub: https://github.com/RavenProject/Raven...
► Securities Roadmap: https://medium.com/@tronblack/ravenco...
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📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading Forex, cryptocurrencies and CFDs poses considerable risk of loss. The speaker does not guarantee any particular outcome.
