What is Ravencoin?

What is Ravencoin?

The Ravencoin protocol was launched early in 2018 as a decentralized open-source code fork of Bitcoin. Ravencoin launched as an ASIC Resistant, no pre-mine, fair launch, Proof of Work cryptocurrency. Ravencoin has a maximum total supply of 21 Billion RVN with a 5 year halving schedule, similar to Bitcoin.

In 2020, Ravencoin moved over to a new mining algorithm, KAWPOW, in order to deter FPGA and ASIC mining machines to run on the network. Ravencoin was created as a permissionless, censorship-resistant solution for peer-to-peer digital transfers of assets.

Each asset created on the Ravencoin network receives a unique name which cannot be duplicated. Tokens created on Ravencoin can represent anything from artwork, gift cards, gaming tokens, music, securities, movies, etc..

Creating a main asset on Ravencoin costs 500 RVN. Once a main asset is created a Sub-asset can be created under the main asset for 100 RVN or a Unique asset can be created for 5 RVN.

Each time an asset, sub-asset or unique asset is created, that amount of RVN required to create the asset is sent to a burn address where it is effectively reduced from the overall supply of RVN.

For each main asset created, the issuer receives an ownership token which allows the issuer to communicate to the holders of the token via built in transaction memos.

You can learn more about the project here: https://ravencoin.org/