Ravencoin (RVN) is an open-source blockchain specialized in issuing and transferring digital assets transparently and decentralized, with a total supply of 21 billion RVN and a Proof of Work (PoW) consensus mechanism.
The project does not conduct an ICO or pre-mine but operates based on community contributions and is initially supported technically by Medici Ventures. Ravencoin focuses on creating utility platforms such as Token creation, NFTs, on-chain messaging, and decentralized voting systems.
MAIN CONTENT
Ravencoin is an ASIC-resistant PoW blockchain, optimized for GPU to serve digital asset issuance.
The product suite includes Token creation, NFT, Token messaging, and decentralized voting mechanisms.
The project is transparent, decentralized, no ICO, operated by the community with technical support from Medici Ventures.
What is Ravencoin (RVN)?
Launched on 1/3/2018, Ravencoin is an open-source blockchain specializing in issuing and transferring digital assets. With a total supply of 21 billion RVN, the project operates transparently, without ICO or pre-mine, focusing on building a fair network run by the community.
The project is initially technically funded by Medici Ventures (part of Overstock.com) but does not provide any advantages for any investor, creating a fair environment for everyone to mine and participate.
How does the project operate?
Ravencoin is a fork of Bitcoin but optimizes parameters for issuing digital assets with a block creation time of 1 minute, KAWPOW ASIC resistance mining algorithm, and transparent PoW consensus mechanism.
Users use RVN for transaction fees and can burn RVN to create new Tokens with unique names, attributes, and applications. This makes the project a specialized, user-friendly platform that is not as complex as smart contracts.
Ravencoin's (RVN) main products
The project is committed to providing a simple feature set, directly integrated on the blockchain instead of complex smart contracts, suitable for general users and developers.
Asset Creation
This is a core feature that allows the creation of Tokens representing various assets such as stocks, real estate, event tickets, in-game assets, with a burning cost of 500 RVN for each new Token. The global Token name is unique, and the issuer has control over the quantity, transferability, and reissuance.
Unique Assets – Unique Assets (NFT)
Ravencoin supports NFT issuance similar to ERC-721 standards, with each NFT Token being unique, attached to metadata, images, or documents. The low issuance cost of only 5 RVN makes it easier for individuals and organizations to mint NFTs, saving more than platforms like Ethereum or Polygon.
Token Messaging
The on-chain messaging feature allows issuers to send notifications, updates, dividends, or calls to Token holders without intermediaries, protecting privacy and enhancing interaction in the decentralized community.
Voting Mechanism
Ravencoin provides an on-chain voting mechanism using VOTE Tokens, allowing Token holders to participate in governance decisions or vote transparently and decentralization. This is a useful tool for DAOs, shareholders, or community polls.
These features demonstrate Ravencoin's strong commitment to supporting community development and practical applications of blockchain for digital assets.
— Tron Black, Core Developer of Ravencoin, 2023
What are the standout features of Ravencoin?
Ravencoin stands out with a fair model with no ICO, no pre-mine, using the KAWPOW algorithm optimized for GPU mining, limiting ASIC concentration. The Token issuance interface is simple, requiring no smart contract, which helps reduce errors and technical risks.
The project is fully open source, allowing the community to contribute to development, create wallets and third-party products to enhance ecosystem diversity.
Overview of RVN Token and Tokenomics
RVN is the native Token of the Ravencoin blockchain, with a total supply of 21 billion, of which 15.2 billion RVN are in circulation. A new block is created every minute, currently with a reward of 2,500 RVN/block, transparent and with no special allocation for individuals or organizations.
RVN utilities include paying transaction fees, miner rewards, issuing new Tokens, distributing dividends or notifications, and participating in voting mechanisms.
What is the latest Ravencoin roadmap focused on?
The project is focused on perfecting transaction processing performance, further integrating popular mobile and cold wallets such as Trezor and Ledger. Improving the NFT issuance interface, expanding DAO governance tools, and deploying simple DeFi features on the platform.
Who are the project team, investors, and partners?
Project Team
Tron Black, core developer, has over 5 years of blockchain experience along with his role as CEO at Blue Squirrel. Bruce Fenton is an experienced economic advisor with 23 years in finance, consulting for the Bill & Melinda Gates Foundation and other large organizations.
Investors
Ravencoin does not conduct an ICO, has no pre-mine, and no venture capital investors hold Tokens from the start. Medici Ventures provides initial technical support but does not hold preferential Tokens or any special rights.
Strategic Partners
A naturally developed ecosystem, with popular storage wallets like Trust Wallet, Zelcore, SafePal; the digital platform tZero from Overstock; the RVNFT NFT exchange on the Ravencoin blockchain, along with many open-source tools supporting the community.
“Ravencoin is committed to building a fair and transparent environment for digital assets, focusing on users and the developer community.”
— Bruce Fenton, Economic Advisor of the Ravencoin project, 2024
Summary about Ravencoin
Ravencoin stands out as a decentralized blockchain project, with no ICO, no pre-mine, and absolute transparency. The platform provides optimal solutions for issuing and transferring digital assets through Token products, NFTs, on-chain messaging, and effective voting mechanisms.
Despite the lack of backing from large investment funds, Ravencoin maintains a strong position thanks to transparent technology, a dynamic community, and diverse real-world applications, making it a suitable choice in the Web3 era focused on asset tokenization.
Note: This is not investment advice.
Frequently Asked Questions
How does Ravencoin differ from Bitcoin? Ravencoin is a Bitcoin fork but focuses on issuing and transferring digital assets, with a block time of 1 minute and ASIC-resistant KAWPOW algorithm (source: Tron Black, 2023).
What is RVN used for? RVN is used to pay transaction fees, miner rewards, issue new Tokens, receive dividends, and participate in governance voting (source: Ravencoin Whitepaper 2018).
Does Ravencoin have an ICO? The project does not conduct an ICO, does not pre-mine, and distributes RVN fairly through mining from the first block (source: Medici Ventures, 2018).
What is Ravencoin's capability to support NFTs? Ravencoin supports the Unique Assets NFT standard with a low minting cost of 5 RVN/Token, more competitive than Ethereum (source: Allinstation, 2024).
How to participate in voting on Ravencoin? RVN holders receive VOTE Tokens at a 1:1 ratio to participate in decentralized decisions through the Voting Mechanism (source: Ravencoin Documentation).
Source: https://tintucbitcoin.com/ravencoin-rvn-la-gi/
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