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Ravencoin Overview | Ravencoin Explained

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Raven Coin is a coin that many have been raving about . No ICO, no pre mine, no masternodes, no BS. A pure proof of work, ASIC resistant cryptocurrency. Sounds alluring, right? Yet is it really all that is chalked up to be? I'll attempt to answer that and much more, so be sure to stick around for my in-depth Raven coin overview.  I need to give you a disclaimer before I talk about Algorand. I am not a financial advisor , I'm just an educator and this blog post is written with the sole purpose of providing you factual information. Please contact a financial advisor if your portfolio has been killed. If you're new here, you might be feeling a little bit lost right  My name is "MrCrypt "and I am your crypto geek here at the cryptolibrarynow . I pass on the knowledge of cryptocurrencies, exchanges, DeFi, protocols, NFT'S and market analysis are just a few of the topics I tackle on the daily basis. Now enough with the intro. Let's get it on , Let's unpack "What Is" Algorand... 

What is Ravencoin ?

Raven Coin is a project that was launched on the 3rd of January 2018. If that date looks familiar to you, it's because this was the 9th anniversary of the launch of Bitcoin. Now, Raven Coin is a fork of the Bitcoin code base and was developed specifically as an asset transfer and token issuance blockchain, so not too dissimilar to token issuance on Ethereum, for example. However, neither Bitcoin nor Ethereum were designed in order to facilitate the ownership of all types of assets, including traditional assets. I'm talking stocks, bonds, commodities, land deeds, etc. So essentially, traditional securities that are tokenized on the Raven coin blockchain and can be issued, traded and redeemed. There are a number of benefits that come with this feature. Firstly, it makes relatively illiquid physical assets like gold property and share certificates highly liquid. You can send it over to anyone else on the Raven coin blockchain in a completely permissionless manner. Secondly, it's easily stored and verified in an immutable manner. Your share ownership certificate can be placed on a hardware device and cannot be faked. And finally, it may one day be easily traded. There are a number of security token exchanges opening up which will allow you to easily buy or sell these tokenized securities. OK, so it all sounds really intriguing, but how the hell does Raven coin work? let's start with the basics shall we as.

Ravencoin Basics -:

As mentioned, Raven Coin is a Bitcoin fork, but there are a number of key differences that have been built into its protocol. Firstly, you have a one minute block time compared to bitcoins 10 minutes. This means that blocks can be propagated much faster and hence an increase in transaction throughput. Another primary difference between Raven Coin and Bitcoin is the coin supply. Raven Coin has a 21 billion Max supply, which is 1000 times larger than Bitcoins 21 million larger coin supply allows for easier transactions as prices don't have to be divided into fractions and the final protocol difference between Raven Coin and Bitcoin is the mining algorithm. Raven Coin uses an X16R algorithm that was initially developed to be ASIC resistant. As we all know, ASIC mining rigs can often lead to centralization of a blockchain and allow large mining farms to price out regular miners. Indeed, Raven Coin had to update this algorithm earlier this year just to stave off this threat. More on that in a bit. There was no ICO or pre mine of the coin, so there was fair mining from day one. Indeed, there were a lot of people who took advantage of the relatively easy mining on the launch of the Raven coin blockchain, of course more competition invites more hash rate, which drops ROI. Anyways, now that you have an overview of the Raven Coin core protocol, let's take a look at the asset issuance feature, shall we? Assets on the Raven coin blockchain are tokens that can be issued by the users. Once these users have created these assets, they can decide the purpose of the assets and the rules that govern them. This is completely independent of the Raven coin protocol and can have whatever name or denomination you choose. When it comes to issuing these tokens, the creator will first have to burn some RVM Raven coins native cryptocurrency. Upon this issuance, the user will decide on such factors as the total supply and issuance limits. This is all done through the core Raven coin client and is pretty simple to complete. Once you've chosen your unique name for the asset, it cannot be replicated by anyone else on the Raven coin blockchain. Another really neat feature of this is that these assets can be made unique, limited, or fungible by the issuer. So for example, you could issue your asset as a unique one that will be the only one to ever exist. This can be considered similar to the ERC 721 non fungible tokens that were used for all of those crypto collectibles. This means that you can tokenize assets from which there are no others. Examples include artwork in game assets or other collectibles. They can also be made fungible, like a collection of common shares in a company or there can be different subclasses of assets, for example different types of shares preferred, common stock, voting rags, etc. One final feature that comes with the Raven coin issued assets is that there is the option to build in rewards and token returns. With this function the holders of the Pacific raising coin assets. Can be sent rewards denominated in Raven, so any asset that has cash flow or pays out dividends can do this through the Raven coin blockchain. Pretty neat. Now of course this does raise another really important question and that is whether these dividend paying tokens could be considered a security and hence be registered With the SEC, while this would only be applicable to US based hodlers, it is still food for thought. It's also worth pointing out that the full functionality of the asset issuance feature is not yet released. This could be on the horizon, though, with the upcoming road map. We'll look at this in a bit. Switching gears, though, let's take a bit of a closer look into Raven coins native currency, shall we? The Raven coin cryptocurrency has an exchange ticker of RVN , RVN is used in the Raven coin network to issue the digital securities or to pay out the holders in their required rewards. There is a current supply of just over 5 billion RVM. This entered the market over the past two years as miners earned it through block rewards. The current block reward is 5000 RVN per block, and this is the same block reward that miners have been earning since the launch of the Genesis block. The first halving of the block reward is expected to take place in January of 2022, which will bring the block reward down to two and a half thousand RVN. This of course brings us on to the point of mining profitability. Although lock rewards have remained the same, the difficulty of mining has increased considerably. Some have attributed this to secret ASIC mining taking place on the network. Once it was revealed that these were indeed being built and eventually sold, the Raven Coin developers decided to update their X16R algorithm. This happened with a hard fork that took place in October of 2019. The immediate result of this was a massive fall in the hash rate and hence difficulty. How long it will be before another ASIC starts secretly mining, no one can know.

Ravencoin Price -:

Raven had a pretty stellar year in 2019. In February of 2019 it was listed on binance and the coin took off. It reached an all time high of just under $0.08 in June of the same year. Sadly, though, prices followed the rest of the market lower through the rest of the year. Anyhow, let prices be as they may. 

Ravencoin's Back?

Two of the most notable names behind the project are Bruce Fenton and Tron Black. Bruce Fenton has been involved with Bitcoin and blockchain for quite some time and is one of the founders of the Bitcoin Foundation. He's also the founder and CEO of other blockchain startups, including chain Stone and Atlantic Financial. Sean Black is the lead developer on the Raven Coin Project and is quite the serial entrepreneur. He's founded a number of different companies and is currently also the principal software engineer at Medici Ventures. Oh, and this is now an important segue into some of the other backers of the Raven Coin project, although Raven Coin is open sourse and has no controlling companies. Medici ventures and Overstock are stated as contributing companies. Medici ventures is the blockchain focused VC that is wholly owned by Overstock Incorporated. For those who don't know, overstock used to be run by Patrick Byrne who was one of the most outspoken proponents for blockchain tech. There's also another interesting point to note here, and that is that Medici Ventures owns T0. This is a cryptocurrency exchange that was built to facilitate the trade of securitized tokens. So now you can kind of see the vague connection with the Raven coin digital securities. Perhaps one day that can be traded on T0. 

Roadmap -:

Anyways, as an open source project, the Raven coin code and development can be fully verified in their GitHub repositories. There has been quite a bit of activity here, as you can see by the level of commits. When it comes to the road map, perhaps the most important is the upcoming release of the tags and restricted assets on the blockchain. In a recent medium post by the lead Dev, this appears to be around the corner and it could open up a completely new Avenue in the security token offering or STO landscape. I encourage you to read the post linked to below. It goes through some really interesting in aspects of the Raven coin asset issuance framework. There are also some additional features in this road map that were not in the original White Paper. This includes functionality such as a KYC platform, token or asset freezing, and token voting for equity token holders. It also explores some of the legal questions around security tokens and regulations which I raised earlier. Let's move on, though, and take a quick look at the markets for RVN.

Markets -:

When it comes to trading of Raven coin, it's pretty reasonable. For a coin of this market capitalisation, it's listed on a relatively decent spread of exchanges . The bulk of the volume appears to be done on Binance and this is also the exchange with the most liquidity. Taking a bit of a closer look into the order books, here is binance's Bitcoin Raven order book. You have a relatively thin bid ask spread. You also have some pretty deep order books with sizable orders backing them, so this means that you will easily be able to buy or sell large orders of Raven without slipping the market price.

Final Thoughts on Ravencoin -:

When it comes to storage, your best bet is most likely the Raven coin core wallet as it has all the network functionality. Having said that, there are a number of other wallets that support RVM. Now it's time for me to give you a few final thoughts on this project. First, I do like the fact that the project was started with no ICO or PREMINE. From day one, mining was open to all, and those who turned hashing power on the network got handsomely rewarded. I also love the fact that the project is trying to tackle the asic issue. They tweaked their algorithm in order to new to this threat and keep the mining decentralized and then of course, the asset issuance functionality is no doubt impressive. It's also particularly relevant given the renewed industry interest in security tokens and sto's. Let's also not forget that raven coin has the most well suited corporate partners for these types of tokenized assets. I'm interested to see whether Raven Coin issued security tokens could end up on T0. Of course, there are indeed challenges facing the project. Firstly and most importantly, it relates to regulations around securities, the US regulatory environment. Is a massive quagmire that many projects have got stuck in? Is Raven coin supplant sufficient to navigate this? Secondly, the security token industry is not short of competition. There are numerous issuance platforms offering similar functionality including swarm, polymath, securitize and so on. How does Raven coin craft a niche for itself. Finally, although they've managed to win the most recent battle against ASIC chips, the war goes on. Chip manufacturers will continue to manufacture these devices as long as they can be optimized for a particular algorithm. Do the Raven coin devs have the resolve to keep up with potentially required Future folks. Either way, Raven coin is one of the more interesting projects and it deserves a place on your watch list .

That is all for today's blog-post . If you plan on sticking around for more interesting blogpost like this please pay a visit to cryptolibrarynow by clicking on the link below -: 

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My last Blogpost was on -: What is Algorand ?


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