Difference between revisions of "Ravencoin Wiki"
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Revision as of 13:11, 7 March 2018
RavenCoin RavenCoin.org is an open source project built on a fork of bitcoin. It was launched on the 3rd of January 2018. A fair launch with no pre-mine. Announced on twitter by Bruce Fenton here: https://twitter.com/brucefenton/status/948682276229074945
It's a truly open source project, no pre-mine, no ICO, no masternodes, focused on building a useful technology, with a strong and growing community.
The coin aims to implement a blockchain which is optimized specifically for the use case of transferring assets such as tokens from one holder to another.
To avoid centralized ASIC mining of RavenCoin the developers created a new algorithm, x16r. What makes this algorithm unique is the order of the 16 hashing algorithms is constantly changed based on the hash of the previous block.
This randomness of hashing algorithms makes it reasonably resistant to ASIC development. The developers have stated they are committed to keeping it ASIC free and can easily alter the algorithm if an ASIC is developed.
The developers have produced a paper explaining x16r, and the RavenCoin medium post explains some of the early reasons for creating RavenCoin and what it hopes to achieve.
At the time of launch, the core team is funded by Medici Ventures who are owned by Overstock.com - the CEO of Overstock can be seen talking about RavenCoin in this BusinessInsider interview.
Block Time: 1 minute
Block Reward: 5000 RVN
Total Coin Supply: 21 Billion
More thoughts about the background and future of Raven in The Fenton Files
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