The Fenton Files
This page aims to capture some of the thoughts from Bruce Fenton and some of the core devs about RavenCoin, it's purpose and future. It's not comprehensive, just some of the interesting comments spotted on the community chats.
Discord 1 refers to the original discord. Discord 2 refers to the 2nd discord that was set up. Links on community page.
Contents
2 Apr 2018 - Discord 2
Discord channels, like other aspects of Ravencoin, don't have a centralized authority or controller.
ICOs, scam-coins and centralized corporate coins have controlled and managed chat channels run by paid marketing employees.
Ravencoin is different. It's not run by a central team or person who tells people what to say or so.
Anyone can set up a chat, there is no "official" anything other than the Git and website.
If a majority of the community prefers one admin / mod style they can migrate to any banned. If various groups from who have competing ideas or preferences then multiple groups can form.
Many people are so used to centralized scam coins that they don't know what to think when they see a real open source coin.
The internet is messy. The opposite of control is chaos. So some chaos is inevitable. But it doesn't affect the protocol in any way.
This is as intended
It will all even out and work well
Have faith in the wisdom of crowds
Does Bitcoin have an official chat?
It's hard to have no one in charge and seems chaotic to not have control. Many corporate coins have antiseptic and controlled chats which regularly censor criticism.
the only thing official is the code and website.
The roadmap and white paper is an implementation that a group of devs supports --
Yes -- but KYC/ AML isn't part of the protocol
Ravencoin will allow easy creation of assets such as tokens
Anyone can post a new ANN
There's no "core" really
you seem to think I have some special powers -- it's your coin as much as it is mjne.
Well if so then that's even more reason to not do it. :smiley: the "core team" is anyone who wants to be.
This isn't hand waiving -- it's the structure of a real decentralized open source project.
There are no leaders or authorities. Only merit and individuals choosing who to follow and what code to run
I choose to support this project because it's decentralized
There are 1000 corporate coins who have very neat and clean comms channels: everyone agrees, a few people decide on a message and the people are fed a line.
Anyone can create these tools
There is no central authority over Bitcoin comms It's impossible
Ravencoin is YOUR coin. It is the people's coin. A real open source and decentralized project.
The decentralized nature enables this coin to do WAY more than a centralized corporate coin or ICO can do.
Look at the results!!
Look what you badasses have built in less than 3 months!
NO ONE can duplicate this. IBM has spent $4.5 billion on its internal blockchain and we beat them in EVERY metric that matters: better code, stronger network, bigger community etc etc.
Why? Because people can smell authenticity a mile a way. Then know that the hundreds of scam coins don't actually belong to them. This coin does.
Your efforts in Ravencoin are building what you wish - the strength of this project will not depend on 20 marketers or lawyers in some ivory tower office but the efforts of the thousands of people who've put in time, resources and sweat to build this this.
With this grassroots decentralization we have some drawbacks but overall massive advantages.
This is why we will prevail.
We are likely the fastest growing network in history of crypto. We are also a top 10 of fairly mined coins in 3 months. Decentralization works.
The wisdom of this crowd is stronger than any 100 people
Together we can do amazing things. Wish not for leaders or control. Instead make the changes you want and ask for help.
No one has any power that you don't also have. If you want something to happen don't wait for permission. You have it. Just do it.
Tuesday will be a Roadmap and an expanded paper based on a combo of the original Medium article and the roadmap
there are drawbacks to a decentralized system like this -- but advantages as well. No one does or should have control
some advantages Ravencoin will have to token issuers over Eth:
- more secure chain
- more censorship resistant
- more decentralized
- simpler / more elegant
- native in the protocol
- will allow dividends
- will allow messaging
It's the next gen
Ravencoin plans to integrate RSK --
Advantage is shorter block time and that it's native to the protocol -- but for smart contracts RSK will eneable solidity to work on the Ravencoin blockchain
ASIC resistance and a wider and more fair distribution is another advantage of Ravencoin.
By this time period in Bitcoin's history the coin had less than a dozen miners. We have thousands This is one of the most widely distributed coins if not THE most
the protocol won't be ready to issue tokens on for 7-8 months or so. But the network is already very strong and will have a lot of appeal Securities tokens are one of the key use cases and reasons Ravencoin was created
Securities tokens are my main focus
I think everything will be tokenized
I was a stockbroker for almost 20 years so have been interested in securities tokens since I came into Bitcoin 6 years ago
Especially interesting is small companies who can't now go public on old markets but will be able to using Ravencoin
And also conventional asset management
Many exciting areas
SEC regs are misunderstood by almost everyone in the space
Things like lawyers will be the market not part of the protocol
Ravencoin opens up not just new doors to securities but entirely new types of aligning interests. For example co-ops
Ravencoin will enable users to issue STOs
Not a smart contract but native to the protocol
Sure real estate or any asset anyone wants To issue
Game currency. Securities.
Also unique assets
yes with any offering issuers will still need a legal team and offering management (not from the protocol but the market)
not a SDK but native abilities within the protocol itself
So user will be able to issue: 100,000 token shares of Janes Startup
17 Platinum Swords of Power
1 Mona Lisa Token
Etc
that's exactly something my company is working on Chainstone Labs plans to be one of the first users of Ravencoin
You won't get dividends for holding rvn It will be paid by token issuers to token holders
Rvn willl be burned for users to issue or name tokens
The assets will be on the rvn chain
The assets will be using Ravencoin chain as rails <name removed> I founded Atlantic Financial, a Registered Investment advisor and also own chainstone labs And Satoshi Roundtable
Right holders have to trust each issuer if they claim there is an asset backing it
No no Only for physical assets
Real world
Virtual items like digital currency, utility and game currency or items would stay digital
Providers of legal and KYC services willl be able to easily integrate with rvn
Ravencoin doesn't compete with Polymath - it's a separate type of thing
Poly has said they are chain agnostic so can use rvn
Unlike Eth, Ravencoin was specifically built for the purpose of issuing tokens
Using RSK solidly Ravencoin will be able to do everything Eth can do
the published policy is to change the algo to break asics if they are created
no asics DECREASE security because they increase centralization
Asics make mining less distributed
actually they make a 51% attack easier because asics tend to concentrate mining in the hands of a small number of giant miners with data centers
Bitcoin can be 51% attacked by compromising 4 people or so. Ravencoin you'd need to compromise an army of Ravens with their gpus
<name removed> users acquire rvn and use that to create assets or pay dividend
once someone issues a token they can do what they want with it: give it away, sell it, run an ICO or STO, put it in a game or whatever they choose
To be clear: the Ravencoin protocol will support RSK / solidity but ALSO have a native capability built in which makes it easier for many use cases
And has more capabilities like messaging and dividends
