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Revision as of 21:09, 14 November 2018
Latest News: Ravencoin upgraded to version 2.1.3. When updating, make sure you have backed up your wallet.dat file. Are you unsure or do you encounter issues when upgrading, please use #helpdesk channel at Discord.
Ravencoin is an open source project built on a fork of bitcoin version 15.1.
Ravencoin fairly launched on the 3rd of January 2018 without ICO, pre-mine or masternodes announced by Bruce Fenton on twitter. Ravencoin is focused on building open-source technology and has a strong and growing community.
Ravencoin aims to implement simple issuance and management of tradable assets on a blockchain. To avoid centralized ASIC mining of Ravencoin the developers created a new algorithm, X16R.
What makes X16R unique is the changing order of 16 hashing algorithms based on the hash of the previous block. This random reordering of hashing algorithms makes it reasonably resistant to ASIC development. The developers have also stated they are committed to keeping it ASIC free and can easily alter the algorithm if an ASIC is developed.
The core team have produced a roadmap with a development plan of 7 phases. A more detailed timeline is available here.
The Ravencoin medium post explains some of the early reasons for creating Ravencoin and what it hopes to achieve.
The roadmap for the code development was published on the project's github on the 3rd of April 2018.
A whitepaper type document describing the background and intention of the project was published on the same date on Ravencoin.org here and Bruce posted a Twitter thread summarizing some key points of the whitepaper and growth of the project to date.
At the time of launch, the core team is funded by Medici Ventures who are owned by Overstock.com - Patrick Byrne, the CEO of Overstock talks about Ravencoin in this BusinessInsider interview.
Ravencoin Blockchain parameters:
Block Time: 1 minute
Block Reward: 5000 RVN
Total Coin Supply: 21 Billion
