Ravencoin is a project creating a peer-to-peer network to transfer assets in the form of tokens from one user to another.
The created blockchain has open-source code, so everyone can join its development. Much emphasis is placed on decentralization. To prevent mining with ASIC, a new mining algorithm X16R was used. Due to this, 3 main advantages are achieved:
- Reliable protection against accidental destruction. The network and Protocol are aware of the existence of assets and where they are transferred.
- Users will be given the opportunity to issue their tokens, track them and transfer them to each other.
- Due to the widespread, large community of miners and decentralization provides protection for the main assets.
However, on October 1st, 2019 Ravencoin forked to an alternative algorithm, X16Rv2. This change was made as the presence of ASIC miners were detected on the blockchain. X16Rv2 added the hashing algorithm Tiger in order to thwart ASIC development and maintain decentralization.
The crypto project is open source, so anyone can connect to its development on GitHub. The exact number of people in the team is still unknown. However, GitHub shows that 400 people who previously had to do with the development of Bitcoin, in the amount made more than 14 thousand transactions.
The main developer is Tron Black. He participated in the development of Blockchain & cryptocurrencies for 5 years as a developer. He holds the position of a leading programmer in the company Miedici VC, which is engaged in investing in blockchain technology. He used to be President and CEO of Blue Squirrel, the company that released the product SQURL. This is a kind of Internet project on the Internet.
Bruce Fenton acts as an advisor in the Raven project. He has 20 years of experience in the financial sector, the last 3 of which are in the cryptocurrency segment. The total investment package with which Bruce worked exceeds $5 billion. Fenton acts as an angel investor in SpeechWorks and ShapeShift, advisor in Factom, BTCS and others. He also serves as a Board member at the Bitcoin Foundation, managing Director at Atlantic Financial Inc.
Stock ticker is RVN. Coin appeared at the beginning of the 2018. Total output is expected to be 21 billion coins. The formation time of one block is 1 minute, and the reward for its production — 5000 RVN.
The project capitalization on 05.07.2017 is $16.2 million. Daily trading volume is $249,900.
How to get
On January 3, mining became available. The x16r hashing algorithm is used to create coins. To start mining Ravencoin, you should do the following:
Set a wallet and generate an address to which coins will be sent. The wallet can be downloaded from the crypto project page on GitHub. You can also create a paper wallet. To set the miner. The necessary software can be downloaded from the official Raven page on the Bitcointalk resource. Select and configure the mining pool Ravencoin. Mining of RVN was engaged in such pools as Minepool, MiningPanda, Suprnova, Virtopia, Protopool, Hash4Life, Omegapool and others.