What is Ravencoin?
Ravencoin is a peer-to-peer blockchain network. It was built to handle one major function efficiently: transferring assets from one person to another. Launched in January 2018, Ravencoin is a real open source project without any master nodes or ICO.
Ravencoin allows you to create real-world assets and trade them. While Bitcoin and Ethereum allow you to exchange assets through their blockchains, that's not what the developers initially built them to do. You can use RVN to trade physical assets or commodities like land deeds, silver and gold bullion, or digital assets like software licenses or gaming rewards.
How Does Ravencoin Work?
Ravencoin was created from a fork of bitcoin code. However, it is a blockchain optimized to carry a statement of truth about an asset's owner. It also can provide instant payments to anyone at any location on earth.
The team developing Ravencoin made four significant changes to the bitcoin code to make RVN useful for asset transfer:
Mining reward started at 5,000 RVN, unlike 50 BTC for Bitcoin
The block time is 1 minute instead of Bitcoin's 10 minutes
The total coin supply for RVN is 21 billion
Ravencoin uses the KAWPOW mining algorithm
The developers chose the X16R and KAWPOW algorithms to allow miners to use consumer-grade GPUs and CPUs for mining instead of the ASIC hardware needed for mining Bitcoins.
Creation and Transfer of Assets
Developers can create assets by providing a unique token name, specifying the number of tokens, and whether there will be more in the future. It is possible to specify any of the following types of tokens:
Trading of Ravencoin
The current price of Ravencoin, on December 8, 2020, is about $0.014 with over $4.5 million trading volume per day and a market cap of over $109 million. It has a circulating supply of over 7.6 billion coins out of the maximum of 21 billion RVN coins.
The exchanges for trading RVN include Binance, ZG.com, IDCM, Huobi Global, and OKEx. You can find more information about RVN and exchanges on our crypto news and exchange pages.
What are Ravencoin Frequenty Asked Questions?
Where does Ravencoin (RVN) rank among in terms of popularity? How relevant is it compared to competitors?
In terms of popularity, Ravencoin currently ranks in position 124 out of the thousands of cryptocurrencies. It is also important to consider Ravencoin‘s market cap – in general, the higher the market cap of a cryptocurrency, the more dominant it is considered to be in the market. Ravencoin has a market cap of $ 934,012,706, which compares to Bitcoin (the most popular cryptocurrency by several metrics) with a market cap of $ 938,425,542,546, Litecoin at $ 11,111,441,245, Ethereum at $ 520,327,392,709, Tether at $ 77,543,333,784, and XRP at $ 40,251,034,567.
What is the price of Ravencoin (RVN) today (updated in realtime)?
The current price of Ravencoin is $ 0.091058 in USD. (The price in Euros is 0,080677 €; and the price in Bitcoin is Ƀ 0.00000183 BTC.)
What is Ravencoin‘s (RVN) market supply?
The total available supply of Ravencoin is 10,260,840,000 RVN. The total supply of Ravencoin is 21,000,000,000 RVN.
What is the 24 hour volume for Ravencoin (RVN)?
The 24 hour volume for Ravencoin is $ 31,503,563.
How has Ravencoin (RVN) performed recently?
Ravencoin‘s price has decreased in the last 24 hours by -0.91%. This compares with a seven day change of -15.25%. The trading volume over the last 24 hours was $ 31,503,563. Trading volume indicates how many units of a currency are being bought and sold on specific exchanges. High trading volumes are likely to drive more on-chain activity, for example when people deposit and withdraw funds. It can be a good indicator of the general interest in the cryptocurrency.
What is Ravencoin (RVN) official website?
Links to Ravencoin‘s official website, social accounts, blockchain explorer, and Github repository if applicable.
Has Ravencoin (RVN) performed well historically?
Here is a chart showing how Ravencoin has performed historically.
Where Can I Buy Ravencoin (RVN)?
Here is a breakdown of the current market prices from top cryptocurrency exchanges.
Charts & Market Data
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