It was founded in 2017.
Who founded it?
It has developers who are some of the most respected names in the industry. It is a project started by Bruce Fenton, Tron Black and Joel Weight, all experienced businessmen and developers. Fenton is known in the crypto world for being a board member and executive director of the Bitcoin Foundation from 2015 to 2018.
The RVN took its name from the bird distribution system in the novel "A Song of Ice and Fire".
It serves as an alternative to Ethereum and other token-enabled chains. It can be used for almost any purpose.
They did not pre-mine, pre-sell, or implement any masternodes.
Instead, similar to the launch of Bitcoin, the Ravencoin team has completely democratized the token supply by not reserving any tokens for investors via private or public token sales. In fact, no RVN tokens have been allocated to developers, Medici Ventures (a subsidiary of Overstock.com), or other early project participants in an effort to ensure more equitable and democratic access.
Although the Ravencoin blockchain code is copied from Bitcoin’s code, its private network and entity are unique with their own protocol rules. Many other parameters and details have been changed to encourage communication between network users and to mine RVN tokens.
According to Ravencoin, the goal of “anything can be developed into Ravencoin tokens” has now been realized.
You will not face any issues with Ravencoin. According to the Ravencoin team, there is currently a lack of expertise in the transfer and exchange of assets.
Not only can you exchange assets without needing Bitcoin or another base currency, you can also benefit from a Bitcoin-like platform that the project developers describe as “fully asset-aware.”
Ravencoin launched in 2018 as a proof-of-work (PoW) blockchain designed to do one thing extremely well: serve as an alternative to Ethereum and other token-enabled chains by facilitating the efficient issuance of tokens for asset transfer. The RVN tokens issued by Ravencoin can represent real-world assets or NFTs and can be used for almost any purpose.
With its UTXO coding infrastructure based on a Bitcoin fork, the project offers token issuers an alternative to Ethereum and other smart contract-focused blockchains. Beyond that, Ravencoin highlights its security model and decentralized consensus mechanism as the main highlights and advantages over other crypto platforms.
Similar to Bitcoin’s PoW consensus mechanism, KAWPOW is used by computers on the network running the Ravencoin software to secure and synchronize the network, verify transactions, and facilitate the distribution of newly minted RVN.
Derived from a combination of ProgPoW and Ethash, KAWPOW features certain changes that improve Ravencoin’s distribution mechanism. But most importantly, the algorithm lowers the barrier to entry for those looking to mine on the Ravencoin network.
By resisting the use of application-specific integrated circuits (ASICs) and facilitating the use of consumer-grade GPUs to mine the network’s tokens, almost anyone is welcome to mine without the need for extensive and expensive hardware.
While KAWPOW promotes decentralization, it takes things a step further by leaving network verification in the hands of the community rather than a select group. This makes the network’s protocol more neutral and impartial compared to the protocol of smart contracts and other blockchain networks.
According to the Ravencoin team, there is currently a lack of expertise in the transfer and exchange of assets. It serves as an alternative to Ethereum and other token-enabled chains by facilitating the efficient issuance of tokens for asset transfer.
The company founders are among the best in the industry. Those who established the system laid the foundations to prepare the valuable crypto money of the future.
With Ravencoin, you will not encounter any problems. Not only can you exchange assets without needing Bitcoin or any other base currency, you can also benefit from a Bitcoin-like platform that the project developers describe as “fully asset-aware.”
