Fez posted on August 24, 2019 11:12:38
Ravencoin is a fork of the Bitcoin code.
In forking the code the developers of RVN made four key changes;
1. Coin supply has been increased from 21mil to 21 Billion total supply.
2. Block Time has been reduced to 1 minute
3. Block reward has been increased to 5,000 RVN
4. Mining algorithm is X16R
The X16R algorithm
The X16R algorithm was designed for RavenCoin by the Developers behind the project. The 16 in X16R stands for 16 algorithms used in the code.
The algorithms switch randomly dependant on the last 8bytes of the previous block hash.
Should an ASIC for X16R go into development then the devs behind the team can change the selection of algorithms to counteract this. This is also an excellent prevention against 51% attacks.
Brain child of Bruce Fenton
- Tron Black
- Principle dev at Medici, Developer @ ANX international, senior Developer @ t0.com, Founder CoinCPA
- Well known and respected in the industry and this means there is less chance of the project being a scam.
- Jesse Empey
- Corbin Fox
- Mark Ney
- Jeremy Anderson (blondfrogs)
- Cade Call
all of these are experienced developers with lots of commits to various projects.
Raven has some strong competition with chains like Ethereum and Tron already holding a sizeable piece of the pie or the Tokenized asset platforms. There are many projects live on Ravencoin with asset being issued daily. For example Vinsent, available on iOS and Android enables users to pre -purchase wines that are currently being casked and not yet available. There are more and more projects launching on the platform all the time. Let me know if you know of any interesting projects launching on Ravencoin in the comments section below.
Whilst the commits to the code have died off dramatically its social media channel are still going strong. this could be something to watch in the next Alt season.
Crypto Bear posted on June 11, 2019 22:34:41
Probably not a scam in my opinion. They even have physical meetups for the project. It is supposed to be a blockchain that can issue asset tokens, based on Bitcoin code. They aim to be ASIC resistant though. Listed on larger exchanges as well. It does seem that in the last few months not much has happened on Github, eventhough prior to that, a lot of activity can be noticed (the lack of recent contributions is giving me some reservations, which makes me less than 100% confident). If I remember correctly, they did a "fair launch" which means no ICO, no pre-mine nor airdrop, just plain old mining from day 1. The team is visible, however the concern is that that also makes the project somewhat vulnerable, because it is quite centralized therefore.
HodlDoge posted on June 07, 2019 04:29:23
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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