Ravencoin (RVN) Live Price

What Is Ravencoin (RVN)?

Ravencoin launched on October 31, 2017, by building on a fork of the Bitcoin blockchain. RVN binaries were released for users to mine in January 2018. This release was with no ICO, controller nodes and no premining options. This launch concept is known as a “fair launch”. No user gets any advantage. The ravens used for communication in the popular TV show Game of Thrones inspired the name.

Ravencoin uses a network based on digital peer-to-peer (P2P) technology that runs a user-need-based blockchain. This is customized to manage the exchange of assets cost-effectively from one party to another.

RVN Price

From its token launch in 2018 onwards, the token didn’t show any remarkable performance until 2021. The RVN token touched $0.10 in April 2021 when all the crypto coins reached record-breaking highs. In April 2021, Ravencoin touched $0.28. by April 2022, the coin supply of ravencoin was trading around values of $0.04.

Ravencoin trades on many crypto exchange pages, like Binance, Bittrex and Gate.io. The demand for ravencoin is much lower compared to competitor Bitcoin forks. Social media activity for Ravencoin is minimal, and expansion seems to have declined significantly.

A Brief History of Ravencoin

Bruce Fenton and Tron Black launched Ravencoin in January 2018 as a Bitcoin fork. The launching goal was to offer more effortless digital asset transfer across blockchains. This was a unique concept because, at the time, Bitcoin code supported asset and information transfer but didn’t recognize assets transferring through the code. This meant that transferring assets was vulnerable to theft and loss.

 Ravencoin’s goal was to offer users that needed frequent asset transfers a complete asset-cognizant system designed to be as secure as Bitcoin. The RVN was launched without any ICO or prelaunch rewards. The network uses the BIP9 consensus rules for its governance matters.

The coin halved in January 2022, and its total circulating coin supply became 21 billion.

What Makes Ravencoin Unique?

Ravencoin was launched to offer its users four significant improvements over Bitcoin. These were a modified issue schedule (that offered a reward of 5,000 RVN per block), improved block time of a minute and a thousand times higher coin supply than Bitcoin. The fourth item was the then x16r algorithm mining algorithm group (now called the KAWPOW).

 Ravencoin targeted the major challenge of secure asset transfer and trading over a blockchain. Before its launch, assets on the blockchain could be destroyed if their source coins were traded onwards.

 RVN coins are built to work as internal currency and need to be burnt to earn token assets on the Ravenchain. These assets can be tangible world assets like gold, fiat currency, or digital assets.

What is Ravencoin used for?

Ravencoin uses smart contracts to support issuers in writing compliance protocols directly into a token. Token holders need to fulfil these compliance requirements before taking any action. What is essential is that the issuer can amend these rules, which can evolve to meet changing needs. This means multiple rounds of asset transfers are possible.  RVN tokens facilitate the smooth use and exchange of unique assets,

How Is the Ravencoin Network Secured?

As a bitcoin fork, ravencoin is protected through decentralization. Currently, the chain uses the KAWPOW mining algorithm, which replaced X16R and X16RV2 in May 2020.

KAWPOW is a marginally customized version of ProgPow, an advanced version of Ethash, designed to mine GPUs. Both elements, along with the no pre-mine distribution, ensure that no person or whale has the power to control the market or 51% attacks.

There was a single known hack of Ravencoin, in which attackers could mind 1.5% of the total supply cap of 21 Bn (worth about $6 Mn then). However, no existing holders were affected.

Where Can You Buy Ravencoin (RVN)?

RVN is commonly traded with pairs against stablecoins like Tether (USDT), Bitcoin, Ethereum, and fiat money.  The top trading exchanges in Ravencoin are Binance, Huobi Global, OKEx, ZG.com, and VCC Exchange.