Ravencoin (RVN/USDT – Trade it here) is a peer-to-peer blockchain, handling the efficient creation and transfer of assets from one party to another. It is software seeking to incentivize a network of computers to operate a platform allowing users to create a new class of crypto assets. The protocol is designed to facilitate the creation and transfer of tokens that represent real-world assets such as securities, collectibles, gold, event tickets, or even airline miles.
How does Ravencoin work?
Ravencoin’s code was copied from Bitcoin but establishes its own unique network, asset, and protocol rules. Other parameters were modified to incentivize asset issuance and communication between users of specific tokens on its network.
To keep its network in sync, Ravencoin uses a variation of the Proof-of-Work (PoW) consensus mechanism, called KAWPOW, aimed to lower the barrier to entry to mining on its network.
Similar to PoW on Bitcoin, KAWPOW is used by a network of computers running Ravencoin software to secure the network, validate transactions, and distribute newly minted RVN.
Tokenomics of RVN
Of the capped total supply of 21 billion coins, there are 11,684,243,049 currently in circulation.
Estimates vary, but all point to the total supply of 21 billion RVN being minted sometime around 2080.
- Asset issuance and transfer: Users can create a new crypto asset by burning (i.e., destroying) a certain amount of RVN coins and giving their new token a unique name. Once the coin is created, the issuer can determine special characteristics for their token, such as the total number of tokens issued, how many decimal places it can be fractioned to, and its fungibility. Co-ops could find this approach useful since they could use it to allocate resources or capital to co-op participants. Since the issuer defines the characteristics of the token, it is possible to envisage them creating multiple categories of the token holder, such as Class A Shareholder, Class B Shareholder, Lifetime Member, etc.
- Rewards: Using Ravencoin, issuers can reward their token holders simply and evenly. In the event that a co-op has decided to issue its own tokens to its participants, it can select the categories that are due to be issued dividends and ensure that this process is automated, fair, and secure.
- Messaging: Ravencoin also makes it possible for token creators to message their token holders – making it possible to broadcast updates about a company, organization, or community. All Ravencoin tokens are fully transferable, enabling token holders to delegate their stake in a community or even sell it, should they see a reason to do so.
Who Created Ravencoin?
In 2018, a trio of co-founders – Bruce Fenton, Joel Weight, and Tron Black – launched the Ravencoin crypto project. In contrast to most of the crypto crowd, all three were already old hands in business and software development before they embarked on this project.
The Ravencoin team, refraining from any public or private token sale to investors, attempted to mimic Bitcoin’s launch, meaning none of its token supply was set aside for others in advance.
At the time of launch, the core team was funded by Overstock.com subsidiary Medici Ventures.
How to buy RVN Token?
You can buy RVN on MEXC following the steps:
- Log in to your MEXC account and click [Trade]. Click on [Spot].
- Search “RVN” using the search bar to see the available trading pairs. Take RVN/USDT as an example.
- Scroll down and go to the [Spot] box. Enter the amount of RVN you want to buy. You can choose from opening a Limit order, a Market order, or a Stop-limit order. Take Market order as an example. Click [Buy RVN] to confirm your order. You will find the purchased RVN in your Spot Wallet.
Recent RVN Token Price & Performance
Since listed on MEXC, RVN reached the highest price (ATH) of 0.0770095 USDT during the past 30 days, from the lowest price for RVN being 0.0268724 USDT.
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