What is Ravencoin? In the past, ravencoin has been mentioned a lot by the leading blockchain community in the world. Ravencoin was born at that time as a digital asset platform in the financial sector. To learn more details, please read the following section of this article.
1 – What is Ravencoin?
Ravencoin with an abbreviation of RVN was released in 2018, this is a cryptocurrency like bitcoin.
Ravencoin is funded by the Medici ventures investment fund owned by Overstock.com to meet the needs of cross-border trading of stocks and assets.
2 – General information about RVN coin
- Symbol: RVN.
- Type: Coin, minable (minable).
- Blockchain: ravencoin private blockchain.
- Consensus mechanism: Proof of work (PoW).
- Algorithm: X16R.
- Block time: 59s.
- Block reward: 5000 RVN.
- Total supply: RVN 21,000,000,000.
- Circulating Supply: 3,340,420,000 RVN.
2.1 – Development team
Tron Black is a core developer with more than 5 years of industry experience, Tron is currently the lead software developer for Medici, Tron is also president and CEO at Blue Squirrel for more than 17 years.
Tron Back is also the creator of the identity system for the Paten crypto wallet address.
In addition to developer Tron Black, there is mentor Bruce Fenton with more than 23 years of experience in the financial sector, 3 years in blockchain. Currently, Bruce fenton is also a blockchain economic advisor.
2.2 – RVN coin’s goal
The goal of RVN coin is to prioritize security, privacy, and be controlled by users. It is open source to use and develop in any scope, allowing users to add simple features based on their needs.
Users can build their own tokens on the RVN blockchain just like ethereum’s blockchain also allows users to build their own tokens on it.
2.3 – The purpose of using RVN coin
Payment of transaction fees in the network.
RVN coin is minable.
Allows payment of bonuses or dividends in RVN based on the proportion of holders of the property.
Unique token of RVN coin Allows users to own tokens to create unique assets.
Token holders can send notifications to token holders without having to know where they are, who they are.
2.4 – The drawback of Ravecoin
The age of RVN coin is quite new to compete with ETH and BTC.
RVN is not really too special with its features, most of which are similar to other coins.
3 – Conclusion
The information in this article is just a small part for your reference, if you are planning to invest, you need to find out many other sources of information about RVN before making a decision.
Thank you for reading the article.