All You Need to Know About Ravencoin (RVN)

What Is Ravencoin (RVN) Cryptocurrency?

The Ravencoin (RVN) Cryptocurrency is basically a digital P2P (peer-to-peer) network that focuses on implementing a use case-specific blockchain. It is designed to handle one particular function efficiently: the transfer of assets from one party to another. It is built on a fork of the Bitcoin code and was announced on 31st October 2017. It also released the binaries for mining on 3rd January 2018 with a fair launch, which was named about the famous TV show Game of Thrones.

Who Are The Founders Of The Ravencoin (RVN) Cryptocurrency?

The Ravencoin (RVN) Cryptocurrency whitepaper was mainly published by Tron Black, Joel Weight, and Bruce Fenton. All of them stand out over the majority of the whole crypto crowd as they all are well-seasoned businessmen and developers even before they started the project.

Bruce Fenton is a well-known person in the field of cryptocurrency as he is an executive director and also a board member of the Bitcoin Foundation from 2015 to 2018. Before crypto, he also had a solid career in investment banking as the Vice President in the 90s of the Morgan Stanley. He was also a managing director at the Atlantis Consulting for about 13 years. Now, he is working as a managing director of Chainstone Labs, a stealth fintech startup.

Tron Black is a software developer with more than thirty years of experience, including some leading software companies as the chief executive officer. Tron Black has been working in the field of crypto since 2013 on different ventures, including Coin CPA, Verified wallet and much more. Currently, he is employed with Medici Ventures, which is a subsidiary of overstock.com and is focused on the blockchain technology applications.

Joel Weight is a chief technology officer at the overstock.com and is also a popular online retailer. Earlier, he has also worked with the Medici ventures in the roles of CTO and COO and is a veteran software. The weight started his career after completing his graduation from the University of Utah in 1998.

What Makes The Ravencoin (Rvn) Cryptocurrency Unique?

As a fork of the famous bitcoin code, there are four main features of the Ravencoin (RVN) Cryptocurrency, which are mentioned below:

  • Modified issuance schedule (with a block reward of 5,000 RVN)
  • Block time reduce to one time
  • Coin supply is capped at 21 billion, which is a thousand times more than BTC
  • The mining algorithm (KAWPOW) is intended to mitigate the centralization of mining.

The Ravencoin (RVN) Cryptocurrency focuses on solving the problem of transfer of assets and trading over the blockchain. For example, if someone created an asset earlier on the bitcoin blockchain, it would have accidentally been destroyed when someone traded the coins. But now, the Ravencoin (RVN) Cryptocurrency coins are designed so that the internal currency within the network must be burnt to issue some token assets on the Ravencoin (RVN) Cryptocurrency. These assets can literally represent anything such as real-world objects like physical euros or gold, virtual objects or goods, a share of a project like securities and stock, airline miles, or an hour of someone’s wage. The planned future version of the Ravencoin (RVN) Cryptocurrency protocol will be supporting an integrated messaging and voting system.

How Many Ravencoin (Rvn) Cryptocurrencies Are There In Circulation?

The Ravencoin (RVN) Cryptocurrency insists on being as open and fair a system as possible for a new cryptocurrency. Therefore, no ICO, no pre-mine, and no coins were held for founders or developer rewards. In the three years since the inception of the Ravencoin (RVN) Cryptocurrency, as of March 2021, about 39% of the Ravencoin (RVN) Cryptocurrency coins are already mined, and the total supply is capped at around 21 billion coins.

Primary image reference from stormgain.com

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