Ravencoin Explorer
Explore the Ravencoin blockchain
About Ravencoin
Overview
Ravencoin (RVN) is a digital peer-to-peer (P2P) 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 on January 3, 2018, and is a truly open-source project (no ICO or masternodes).
History
Ravencoin was announced on October 31, 2017, and launched on January 3, 2018, the 9th anniversary of Bitcoin's launch. The project was founded by Bruce Fenton, a board member of the Bitcoin Foundation, and Tron Black, a principal developer. Ravencoin was created without an ICO or pre-mine, emphasizing a fair distribution and community-driven development. The name "Ravencoin" is inspired by the ravens in the fictional world of Game of Thrones, where ravens are used as messengers who carry statements of truth.
Technology
Ravencoin is built on a fork of the Bitcoin code, but with several key modifications. It uses the KAWPOW algorithm (previously X16R and X16RV2), which is designed to be ASIC-resistant, allowing for more decentralized mining using consumer-grade hardware. Ravencoin has a block time of 1 minute (compared to Bitcoin's 10 minutes) and a block reward of 2,500 RVN. The total supply is capped at 21 billion RVN. Ravencoin's primary innovation is its built-in asset layer, which allows users to create and transfer assets on the Ravencoin blockchain. These assets can represent anything from real-world assets like gold or property to digital assets like game items or loyalty points.
Governance
Ravencoin is a community-driven project with no central authority. Development decisions are made through community consensus, with input from developers, miners, and users. The project is maintained by a group of developers who contribute to the codebase on a voluntary basis. Funding for development comes from community donations and contributions from companies and individuals who use the Ravencoin platform.
Key Features
Asset Creation
Ravencoin allows users to create and trade assets on its blockchain. These assets can represent anything from real-world assets like gold, silver, or property, to digital assets like game items or software licenses. Creating an asset on Ravencoin is simple and requires burning a small amount of RVN.
Messaging
Ravencoin includes a messaging system that allows asset issuers to communicate with token holders. This can be useful for things like dividend announcements, voting instructions, or general updates about the asset.
Unique Assets
Ravencoin supports the creation of unique assets, which are one-of-a-kind tokens that can be used to represent collectibles, certificates, or other unique items. This feature is similar to non-fungible tokens (NFTs) on other platforms.
KAWPOW Algorithm
Ravencoin uses the KAWPOW mining algorithm, which is designed to be ASIC-resistant. This means that it's more accessible to individual miners using consumer-grade hardware, promoting a more decentralized network.
Key Contributors
Tron Black
Lead Developer
Tron is one of the principal developers of Ravencoin and has been involved with the project since its inception. He is also the Principal Software Developer at Medici Ventures.
Bruce Fenton
Co-founder
Bruce is a board member of the Bitcoin Foundation and was one of the co-founders of Ravencoin. He has been involved in the cryptocurrency space since 2012.
Joel Weight
Developer
Joel is the CTO of Medici Ventures and has been a contributor to the Ravencoin project, particularly in the areas of asset layer development.
Blondfrogs
Core Developer
A pseudonymous developer who has made significant contributions to the Ravencoin codebase, particularly in the areas of asset layer functionality and wallet improvements.
Major Milestones
October 31, 2017
Ravencoin Announced
Bruce Fenton announced Ravencoin at the Money 20/20 conference in Las Vegas.
January 3, 2018
Mainnet Launch
Ravencoin was launched on the 9th anniversary of Bitcoin's launch, with no pre-mine or ICO.
March 2018
X16R Algorithm
Ravencoin implemented the X16R algorithm to maintain ASIC resistance and promote decentralized mining.
October 31, 2018
Asset Layer Activation
The asset layer was activated on the Ravencoin blockchain, allowing users to create and transfer assets.
November 5, 2018
First Asset Created
The first asset, "VOTE", was created on the Ravencoin blockchain.
February 2019
Messaging Capability
Ravencoin added messaging capability, allowing asset issuers to send messages to asset holders.
May 2019
Binance Listing
Ravencoin was listed on Binance, one of the world's largest cryptocurrency exchanges.
October 1, 2019
X16RV2 Algorithm
Ravencoin upgraded to the X16RV2 algorithm to further enhance ASIC resistance.
January 2020
Restricted Assets
Ravencoin added support for restricted assets, allowing for the creation of securities and other regulated assets.
May 6, 2020
KAWPOW Algorithm
Ravencoin upgraded to the KAWPOW algorithm to provide even stronger ASIC resistance.
January 2021
First Halving
Ravencoin's first block reward halving occurred, reducing the reward from 5,000 RVN to 2,500 RVN per block.
February 2021
All-Time High
Ravencoin reached its all-time high price of approximately $0.29 USD.