Ravencoin (or RVN for short) is a virtual coin that began mining for the first time five years ago. Mining of this cryptocurrency is implemented on UTXO technology, and the blockchain operates on the Proof-of-Work consensus algorithm. During its relatively short existence, Ravencoin has twice marked a change in the mining protocol: a year after its launch, the transition from X16 to X16Rv2 was made, and in 2020 RVN switched to the KawPow algorithm, which was specifically modified for the ProgPow algorithm, available for mining on most modern ASICs. Initially, this algorithm was developed for one of today's most popular cryptocurrencies, Ethereum, but during its implementation, the developers decided to switch from Dagger Hashimoto directly to PoS mining. The result of this decision was the launch of several peer-to-peer networks based on ProgPow. After some time, this algorithm was adapted for mining Ravencoin.
