Ravencoin is a digital peer-to-peer network designed to implement use case-specific blockchains designed to effectively handle a specific function: transferring assets from one party to another. Ravencoin is built on a branch of Bitcoin code and launched on January 3, 2018, is an open source project (no ICO or masternodes). It focuses on building useful technologies with strong and evolving communities.

1. Project introduction

In November 2017, Ravencoin's Medium post cited Game of Thrones in introducing this experimental currency:
“In the fictional world of Westeros, the crow is used as a messenger for delivering statements of truth.” It is intended to show that Ravencoin is an application-specific blockchain designed to record true statements about who owns which assets.

Launched on January 3, 2018, the ninth anniversary of the Bitcoin issuance, Ravencoin is an open source project designed to provide instant payments to everyone around the world. The purpose of the project is to create a blockchain optimized specifically for transferring assets such as tokens from one holder to another.

Ravencoin is a branch of the Bitcoin code with four main changes:
Release Schedule (5,000 RVN Overall Reward)
Blockade time (1 minute)
Coin supply (21 billion)
Mining Algorithm (X16R)

Project Features:
X16R mining algorithm: This algorithm aims to solve the problem of mining centralization caused by ASIC hardware, and overcomes this problem by constantly destroying the sorting of hash algorithms.

High degree of decentralization: Unlike ICOs and tokens with centralized control, Raven is run by the community, has no pre-sale or any reservations, and has the characteristics of community and decentralization of early Bitcoin.

Token:Raven protocol can be issued based on the Raven protocol:Raven protocol runs users to create on-chain assets and determine their purpose and usage rules. Assets created on the Raven protocol are easier to use, use fair POW mining, and are protected through open source code rather than centralized organizations.

Unique Advantages:
Use the X16R hash algorithm to prevent the development of ASIC hardware;
Fair start, from day one, everyone has an equal opportunity to mine or buy RVN;
No pre-mining, no ICO, no coin rewards for developers or founders;
Community-driven and truly open source projects.

Application Scenario:
It has the potential to be used on a large scale: Ravencoin issuance is large in total, transfers are fast, and it resists ASIC mining, which is in line with the principle of "one CPU, one vote", is conducive to the decentralization of rights and the growth of the community, and has the potential to be used on a large scale.

Assets on the chain have great prospects: real-world gold, silver, banknotes, land deeds, loan contracts, etc. can be mapped to the blockchain through the Raven protocol, and can also be used to issue securities tokens and application tokens, and can also be used to represent virtual items, such as tickets, event licenses, access tokens, game items, etc. On-chain assets will also have functions such as distribution of dividends, dividends, profits, etc.

2. Commentary

The vision of the RavenCoin project is simple and clear compared to other blockchain projects: simple and convenient to create and manage assets. From a technical perspective, the vision of the Ravencoin project can be realized on both Bit and Ethereum. The Ravencoin project is just a "small" function that focuses more on asset issuance and management.

RavenCoin provides a decentralized, peer-to-peer asset transmission network. RavenCoin adopts the same POW proof method as Bitcoin. The difference is that on RavenCoin, in addition to its original Bitcoin source code, developers also use the X16R algorithm on its underlying technology. This algorithm makes the algorithm sorting and frequency of occurrence uncertain by recombining the 16 hash algorithms it has with it. This allows RavenCoin to solve the mining centralization problem caused by Bitcoin ASIC miners. That is, while the cost of mining is reduced, the mining opportunities and income distribution of miners has become more fair, increasing the enthusiasm of miners to participate.

Related links:
https://ravencoin.org/
https://ravencoin.org/about/
http://www.qukuaiwang.com.cn/szhb/3101.html#jj