Ravencoin, a fork of Bitcoin, is a relatively young token; it’s only since January 3, 2018 that it’s been hovering among the crypto currencies. But in the last months, the coin has attracted attention thanks to its price meteoric rise. The name is the fictitious one, is borrowed from the fictional world of Game of Thrones.
The official medium post for Ravencoin describes it as “a digital peer-to-peer network for the facilitation of asset transfers”.
It is essentially an open source fork of the Bitcoin code with faster block reward times and is aimed at censorship resistance, transparency and privacy.
Ravencoin was created from the Bitcoin codebase but utilizes the X16R mining algorithm. The ASIC-resistant coin utilizes 16 different mining algorithms which automatically further increases the security of the network.
Ravencoin blockchain is designed to serve specific purposes. On the one hand, it should help to determine ownership of assets in a flawless manner. On the other hand, Ravencoin, similar to Bitcoin, wants to make direct payments possible. As the open source project on the homepage emphasizes, it is completely decentralized: Neither master nodes nor especially nor ICO are behind the project.
Ravencoin (RVN) has all the
properties of a good crypto project: no ICO, no founders holding majority of
coins, it is a PoW project where anyone can mine it with their CPU thanks to
the ASIC resistant design of the mining algorithm, it is backed by couple of
reputable names of the crypto space like Bruce Fenton and Tron Black, it pays
homage to Bitcoin and is very respectful of the work of the core developers
from which it was forked which in turn secures them the help from couple of