Ravencoin is a digital peer to peer network that aims to implement a use case specific blockchain, designed to efficiently handle one specific function: the transfer of assets from one party to another. Built on a fork of the Bitcoin code, Ravencoin was launched January 3rd, 2018, and is a truly open source project (no ICO or masternodes). It focuses on building a useful technology, with a strong and growing community.

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How Ravencoin Works

A Ravencoin post on Medium from November 2017 references Game of Thrones when introducing this experimental currency:

“In the fictional world of Westeros, ravens are used as messengers who carry statements of truth. Ravencoin is a use case specific blockchain designed to carry statements of truth about who owns what assets”

Launched on January 3rd, 2018, the ninth anniversary of bitcoin’s launch, Ravencoin is an open-source project designed to enable instant payments to anyone around the world. The aim of the project is to create a blockchain optimized specifically for the transfer of assets such as tokens from one holder to another.

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What Makes Ravencoin Different from Bitcoin?

The X16R algorithm intends to solve the centralization of mining seen on the Bitcoin blockchain caused by the introduction of expensive and highly efficient Application Specific Integrated Circuit (ASIC) hardware. By randomizing the order of 16 different hashing algorithms, Raven makes ASICs difficult to develop, allowing room for anyone to be able to mine the Raven network without the disadvantage of competing with ASIC hardware. The Raven team has also committed to change the hashing algorithms if a Raven ASIC miner is ever developed.

• Block reward of 5,000 RVN instead of 50 BTC.
• Block time of 1 minute instead of 10.
• Total coin supply of 21 Billion instead of 21 million.
• A new mining algorithm, X16R which allows for more decentralized mining.
• Addition of Asset & Sub-asset issuance, transfer, and unique assets.
• Future addition of rewards, messaging, and voting.

Unique Characteristics of Ravencoin

• ASIC resistant – Uses an X16R hashing algorithm to discourage the development of ASIC hardware
• Fair launch - Everyone has equal opportunity to mine or purchase RVN since day one.
• No pre-mine, no ICO, and no coins held for developer or founders rewards.
• Community Driven, and True Open Source

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You can make your own security token within minutes and have it trade worldwide.

• Representing a Share of a Project
  Gold Bars.
  Silver Coins.
  Physical Euros.
  Land Deeds.
  DC Comics Presents #26.
  Energy Credits (Electricity, Wood, Gas, Oil, Wind).
• Representing Virtual Goods
  Tickets to an event such as a Baltimore Ravens game with the ability to resell without worry of duplicates being made.
  A license to allow an activity.
  An access token to use a service.
  In-game currency and items, transferable to other gamers outside of the game platform.
• Representing real world custodied physical or digital asset
  Securities tokens: stock or shares of a company where the shares are represented by a token rather than a physical stock certificate.
  Securities or partnership interests with the built-in ability to pay dividends in RVN.
  Tokens which represent a coop, limited partnership, royalty sharing or profit sharing platform.
  A token which represents a cflexd-funded item with the ability to transfer or resell the item.
• Representing a credit
  Gift Cards.
  Airline Miles.
  Reward Points.