What is Ravencoin?
Notably, the name comes from the Raven, a bird which was used in ancient times to transfer messages.
The open-source nature of the project is in line with decentralization ideals. This is because anyone can contribute to the project encouraging fair distribution. Besides, one can mine the coin using readily available consumer-grade hardware.
Ravencoin ensures this by utilizing the new mining algorithm x16r. This algorithm is suitable as it cracks down on top-heavy mining pools and prohibitive equipment like ASIC rigs. This guarantees fair mining which is not the case for the likes of Bitcoin.
The main function of Ravencoin as mentioned is to facilitate fair asset transfer. RVN is the platforms currency and offers liquidity. Ravencoin also ensures asset security by preventing accidental destruction through the protocol system. Users have the ability to issue, transfer and track assets at the convenience of messaging since the underlying assets are secure.