What is Ravencoin (RVN) in simple words: history, course and how to buy
2019-08-22 00:00:00:
Ravencoin is a kind of cryptocurrency.
Cryptocurrency is electronic money that is developed using special computer ciphers. Their peculiarity is that they have no material expression, but they can be used to buy things and pay for services. They are legal, like all other fiat (common state currencies) money.
Ravencoin itself is an electronic currency that circulates in a computer program of the same name (blockchain), which consists of interconnected blocks of information that are constantly synchronized with each update at the time of transactions. There is no centralization of information in one source. All information assets are reflected in the same way for each owner of ravenoins. Any owner can track the movement of coins, but he does not have the ability to find out who the owner of the wallet is, since all information is strictly confidential and is encrypted.
This "money" was created with the main purpose - to be a means of payment on the Internet. Ravencoin is a fork of bitcoin, that is, it is a program that branched off on the basis of the bitcoin blockchain, acquired new properties and now has a completely independent existence. UTXO is a bitcoin model that was taken as the basis for the creation of ravencoin.
The very name of the cryptocurrency "ravencoin" can be translated as "crows coin". The fact is that the creators of this payment unit at the time of its appearance were carried away by a certain fantastic series "Game of Thrones", where the main high-speed way of transmitting information is birds - crows.
The improvements made in the program made it possible to use this cryptocurrency, servicing various business projects, that is, taking full responsibility for the safety of information in the blockchains for the release of their Security tokens . Thus, Ravencoin becomes a kind of stock in the vastness of digital products.
There is little reliable information on the Internet. Basically, what was stated in WhitePaper is duplicated - unusual functionality and a unique solution. And only the possibilities of mining are signed much more often.
Also in ravencoin, increased protection of the safety of information was implemented when exchanging messages in blockchains, which makes it possible to transfer protected cryptographic information to other users.
For ravencoin owners, it is proposed to register a wallet for use, within which it is possible to form assets. In addition, it is used as a storage for purchased Ravencoins, as well as mined in the process of mining.
And what is unique about this scheme is that these assets already act as a fact of confirmation of property rights. It should be noted that in ordinary life with real currencies, such powers are assumed by the state.
As of July 31, 2019, the capitalization of RVN is $ 174 329 055 81, which is the 42nd place in this rating.
As for its demand on exchanges, now, for example, it is in 9th place on the Binance exchange.
Today, this electronic money is intended for mining, payments for goods and services on the Internet and exchange . But the team of creators is determined to continue the development of the project, they plan to connect ravenkoin to various areas of human activity.
History of RAVENCOIN (RVN)
As mentioned earlier, Ravencoin is a fork of the bitcoin currency and the formation of a completely independent network, the so-called fork. The reason for this division, as a rule, is the acquisition by the currency of additional features, functions that are needed by some users and are not required at all for others. Therefore, in order to satisfy the desire of some of the currency holders, new crypto-money with improved characteristics are being created.
So, for example, the branches are Bitcoin Cash , Lightning Bitcoin, Smart, Lite, etc.
The same thing happened with the formation of the Ravencoin cryptocurrency. The start of the new project was announced by the developers at the end of 2017. The program started on January 3, 2018.
Since, in principle, this is a Bitcoin project, the ravencoin developers do not have their own specific team. Most likely, it was simply difficult to single out the most distinguished developers among the 400 working in the Bitcoin system. Although, however, two names appear: Tron Black and Bruce Fenton. The former is a coding specialist at the investment company Miedici VC and is a senior specialist in management positions. Bruce Fenton, Board Member of the Bitcoin Foundation, took over the main management consultations for Ravencoin.
Further, a promotion period was required for the currency. Businessmen and investors were involved in this. For example, Overstock CEO Patrick Byrne confirmed that he has made a multimillion-dollar investment in the current team.
At first, RVN appeared on minor exchanges, and then, after the listing, it began to occupy a leading position on the Binance crypto exchange. It should be added that even here its entry into the exchange took place without any fees and commissions. Many analysts emphasize that no advertising moves were made to promote RVN, and, in fact, why, if pushing the coin to the top of the rating is enough, with the support of investors.
The development schedule for this currency is carried out in stages. Work continues on improving the platform, testing the new x16r algorithm. Such a scheme was required in order for the currency to withstand a strong mining pool and mining equipment asic.
Ravencoins are put into action without ICO ( preliminary issue of coins ). That is, without prior sale of tokens at a price set by the organizer, in order to raise capital.
As for the ravencoin roadmap, it is not something remarkable.
Distinctive features of RAVENCOIN (RVN)
As mentioned earlier, Ravencoin is a spin-off of bitcoin, but it operates on its own blockchain. Since this is a completely different program, its content and capabilities differ from the parent currency.
Ravencoin is capable of changing the block size from 1 megabyte to 10 Mb, which allows additional transactions in the chain at very high speed data transfer.
Unlike Ethereum and Bitcoin, it is capable of transferring ownership of assets. A new ravencoin block is formed in one minute, while the formation of the same block in the bitcoin system occurs within 10 minutes. The revival of the Bitcoin system is 50 tokens, while 5000 tokens are relied on for mining equal to coins. The release of the level of warriors prepared 21 billion coins, while the predecessor had only 21 million. When using the Bitcoin program with the SHA-256 caching algorithm, it is not possible to avoid the use of ASIC, while the X16R algorithm used by ravencoin provides such an opportunity.
Summing up the comparison of the parent cryptocurrency, we can say that RVN is the same BTC, but increased a thousand times. And, if bitcoin has developed a reputation for digital money, then ravencoin does not pretend to, but only serves as a means for the implementation of projects, as a repository of information for their security tokens. That is, it provides a kind of action with patent rights for those who decide to implement their own business projects.
Bitcoin makes it possible to transfer large amounts of money, and Ravencoin is able to perform these actions without disclosing the owners, with an absolute guarantee of security.
The ravencoin program enables the tokenization of values with physical properties.
The wallet created on the companys website makes it possible not only to generate assets, but also to store the acquired funds, as well as to extract finance through mining. The developers have made every effort to ensure that the mining of the coin is available to as many users as possible, and, therefore, the coin would be truly decentralized. Today, in comparison with it, Bitcoin loses this opportunity, due to the high cost of mining equipment.
The source code of this currency is open and free, so it should be generated in an accessible and transparent manner without any "stash" for "their" (investors, developers, etc.)
And yet, not only one ravencoin is capable of creating tokens. Of all the existing altcoins, Ethereum and Waves have such a function. Only there they are not called exactly tokens, but have the name tokens. However, their functions are similar.
The counterparty is the most demanded platform of tokens, however, its peculiarity lies in the fact that it is closely related to the functionality of bitcoin. But even here the connection can weaken depending on the situation.
Some tokens are used specifically in gaming programs. Like WAX or Enjin Coin. However, Polymath, for example, has a focus on securities.
How RAVENCOIN (RVN) works
Derived from bitcoin, Ravencoin has its main qualities: centralized information and peer-to-peer communications. That is, when a transaction is made, information passes through nodes in the same plane from the sender to the recipient, at the same time it is equally reflected on all block chains. The information in the blocks is constantly being compared. This arrangement of information excludes the possibility of changing it in one of the blocks without synchronous reflection in others, and there is also no possibility to add or remove part of the content. This is how the data protection system works. The transfer from one block to another takes place within 1 minute. This cryptocurrency is protected from monopolization, that is, it has a complex algorithm that does not allow mining it on ASIC equipment.
This coin has broad powers. So, for example, with its help it is possible to create a kind of shares or patents within the crypto network. That is, with the help of Ravencoin, it is possible to transfer tokens and ship natural values, certificates, tickets, and the like. Thus, when registering a token, with any transfer of it, the rights to the asset are transferred.
In order to receive a token, you will have to deposit a certain amount of Ravencoin and form a token name. This code should not be repeated anywhere, it should consist of 10 characters.
Using RVN, you can reward the purchasers of your tokens. This can be done as a regular incentive, or as dividends from participation in the company (to the holders of your shares).
However, mining is quite successful on conventional computer hardware using special programs through processors and video cards. You can download them on the official sites. It is proposed to mine on the pool sites. This is the fastest and most frequent way to get coins.
Yet the most important purpose of this coin is its role as a means of payment. Since the speed of its transfer to another account is 10 times faster than bitcoin, it is much more profitable for it to make payments.
The ravencoin source code is open and accessible, which means that anyone can take part in this project.
In addition, an efficient Messenger is connected to the system. All messages are strictly confidential, just like all transactions.
Connecting and disconnecting services is easily adjustable. In general, the program is simple and user-friendly.
RAVENCOIN (RVN) advantages and disadvantages
The currency is capable of changing block sizes up to 10 MB, which makes it possible to create additional transactions in block chains, while maintaining the highest information transfer speed in the network.
Due to the fact that modern asic miners exist only for 3 algorithms (SHA256, Scrypt and X11), the ravencoin developers have built an algorithm that will not be readable by such machines. X16R consists of 16 algorithmic components: Skein, Luffa, Fugue, Shabal, Whirlpool, Loselose and Djb2, BLAKE, Shavite, Simd, BMW, Groestl, JH, Keccak, Cubehash, Echo, Hamsi. But even on this, the companys programmers do not relax. They are confident that in the near future ASIC equipment will be built that can read this algorithm, therefore, further improvement of ravencoin computer programs is already underway.
Of course, there are other currencies that have attempted to "protest" against the mining monopolization system. These are, for example, Vertcoin, Ethereum, Monero.
Ravencoin makes it possible to patent any idea. The owner of the patent becomes the owner of exclusive rights, which he has the ability to transfer, sell. All you have to do is come up with a name for the patent asset and register it. True, there is only one drawback here: all these rights are valid only in the ravencoin system.
The mining of this system is very profitable, since the coins are produced quite quickly.
Convenient and reliable wallets have been created for storing coins .
A convenient and safe technology of messages between users of the same network, as well as conducting a transaction between them, has been applied.
The developers provide many different types of rewards (awards, bonuses) for users of the system, especially for those who take part in its development and improvement.
Due to the fact that the data transfer rate is 10 times higher than that of Bitcoin, this currency is more economical in terms of electricity and payments to miners. However, still, even it is not perfect, since at the moment there are faster cryptocurrencies, and, accordingly, more economical ones. For example, such as Nano , Ripple , IOTA, etc.
Also, the disadvantages include that the existing algorithm is not a 100% guarantee of the impossibility of its reproduction by ASICs.
Such algorithms require high tuning when mining. In addition, the mining itself is jerky, since the programs themselves go astray due to these algorithms.
The manufacturers are continuously improving the Raven Coin software.
Does RAVENCOIN (RVN) mining exist?
Mining Ravencoin cryptocurrency is possible and quite successful. It should be noted that the coin was issued for ordinary "miners" with little opportunities in coin-mining equipment. Therefore, it must definitely come to taste. The issue of this coin can be carried out by solving cryptographic problems. At the moment, 20% of such coins have already been issued, which is 4,101,395,000.
The general hashing algorithm consists of 16 parts (algorithms of different types). These parts are randomly selected, with only one condition - a clear connection with the previous block, which makes it resistant to recognition by icing equipment, and, therefore, excludes its use. To mine ravencoins, you will have to purchase GPUs. Be sure to make sure that the drivers for such processors are up to date, and that the installed software is not blocked by antivirus programs.
It is best to mine coins collectively, because when a large amount is mined alone, the process is quite lengthy.
Pools, which are organized for joint activities, have great opportunities, since in the case of collective production, blocks are charged several payments per day. It is clear that they are divided into all participants in accordance with their share of participation, but sometimes it is better "40 times at a time than never 40 times." Pool organizers will also have to donate a small share. Usually it is no more than 2%.
A mining program is installed based on the available video card. There are currently two of them: AMD and Nvidia. It is very important that the work program is reliable. Among those tested for Nvidia are those that take a percentage for use, for example, the Raven Enemy Miner program. But there are also free ones: Nevermore 0.2.2 and Suprminer 1.6.
For AMD, the Avermore program has been identified as the most appropriate. After downloading, unzipping and installing, the miner connects to the pool and mining starts. Due to the constant changes in the combinations of algorithms, there are drops in the mining speed.
Miner programs can also be selected based on the installed operating system for Linux or Windows.
Those who have already started mining ravencoin note that the efficiency is much higher than when mining other currencies.
The developers found that small will always be so stable. Approximately every 4 years, the amount of remuneration will be reduced by 2 times.
How to buy or sell RAVENCOIN (RVN)?
Since the launch of the coin into circulation, namely from the beginning of 2018, the opportunity to mine this currency was provided to everyone, the initial placement of coins was avoided.
At first, the coin was listed on small exchanges, but after listing, it appeared on one of the leading exchanges - Binance, as well as Upbit, Bittrex, Cryptopia and Cryptobridge (RVN / BTC). It is on these exchanges that it is constantly available.
Currencies are everywhere traded in pairs with other digital currencies. And only on one exchange - QBTC, it can be purchased for other digital currencies and fiat funds. Thus, it turns out that in order to purchase ravencoin on almost all exchanges, a preliminary purchase of bitcoin is required. And only with its help an exchange can be made - the redemption of ravencoin.
On most exchanges, ravencoin is paired with bitcoin.
To buy RVN, you need to register on the exchange, confirm your email, activate two-factor authentication in the settings. Then you need to top up your balance. This can be done using fiat and electronic means.
Then you need to move to the trading terminal and activate the required currency pair. Most often it is RVN / BTC. Then generate a buy order (value, quantity and type are entered). Upon completion of all operations, you can check the completeness by going to the "Funds" - "Balance" section.
To sell or exchange ravencoin, you need to go to the "Funds" - "Deposits" section, activate the RVN / BTC trading pair. We form an order, where we indicate the price and quantity (if the order is a market order, only the quantity is indicated). After verification, the "Sell RVN" button is pressed.
The generated order will remain in the trading history until the moment of its execution. You can cancel if you want.
To exchange e-currency for real money, you need to make a transfer to a crypto exchange or contact exchangers. These services will require the introduction of additional data.
- RVN rate to the ruble.
On August 2, the exchange rate against the ruble is 0.04. Recently, this currency has been showing decline dynamics.
- RVN rate to dollar.
On August 2, 2019, the rate of the coin against the dollar is 0.04.
- RVN to EUR rate.
In relation to the euro as of August 2, 2019, the ravencoin rate was 0.038.
You should not keep RVN on cryptocurrency exchange platforms for a long time, as it is quite a tidbit. In general, even before the start of all operations with coins, you should acquire a reliable wallet, such that it can support the currency of the established order.
Where to store RAVENCOIN (RVN)?
In your wallet, of course. The developers first of all made sure that the currency was preserved. A wallet has been developed for ravencoin, adapted for the main operating systems of Windows, Linux, Mac computers, as well as for mobile. The program is as easy as possible to install and use. You can download it on the official website, then synchronize.
You can also deposit funds on the exchange. The most popular, proven and unsafe exchange is Binance.
The ravencoin wallet is not much different from the Bitcoin wallet, as well as from similar paper wallets. However, downloading and installing Raven-Qt is recommended.
This wallet is supported by such operating systems as Linux, Mac, Ubuntu, cenos7, fedora27, Windows.
All wallets can be downloaded through a special footnote on the official website.
To standardly install the wallet on the Windows operating system, you can follow the link to the Ravencoin Github and perform the initial required steps.
Then the wallet is extracted to the desired field. The moment of installation is programmed in such a way as to initially prompt the user to install on the desired drive (C or D). It is imperative to ensure that the wallets file system can fully fit on the selected disk.
Then the wallet is entered and synchronization is connected. If problems arise, you need to make sure that nodes are added.
To create a new address, you log in through the file system to the Receiving address and create a new wallet.
For the purpose of data safety, it is strongly recommended to perform encryption.
Most advanced users, in addition to wallets from the manufacturer, recommend the following programs: WalletGenerator and PaperWallet Ravencoin. Uploads 1 and 2 are done via GitHub.
Additional Information:
* when creating a wallet, a username and password are entered.
* from the moment of registration completion, all payments and transfers will be made to this wallet address, which will be requested in other systems.
* until the moment of replenishment, the balance will be equal to 0 RVN. For any transactions performed, the balance requires pressing the "0 RVN" button to update the information. An information update can take up to 10 minutes.
* a security function for the senders funds has been generated in the wallet. Funds are held on an additional account until the sender is fully satisfied with the transaction, and only then are transferred to the recipient.
* there is an auxiliary function of forming and and recovering a key.
How much is RAVENCOIN (RVN) in total?
The total amount of coins issued is 21,000,000,000.
As of 08/03/2019, the capitalization ( what is the capitalization of cryptocurrencies ) was 175,622,343.
4,110,255,000 rvn have already been put into circulation
RAVENCOIN (RVN) emission
To date, only 20% of the coins have been put into circulation, so the issue is 80%. The full volume can be achieved with the production of 21,000,000,000 rvn.
The coins of this currency are issued by solving cryptographic problems. Large farms are engaged in this in other currencies, since it is unprofitable to produce currency in small volumes.
As of 08/03/2019, the currency ranks 48th in the Vinance exchange rating.
Average trading volume is $ 437,415
How is RAVENCOIN (RVN) secured?
Constant resistance to ASIC equipment. This was thought out by the developers in order to prevent miners from being able to monopolize the mining of the coin to make this process too transient, which means to allow the coin to devalue. Such resistance is created using the x16r algorithm, which in turn is capable of changing its algorithmic parts (there are 16 declared) in order to disrupt the work of the Asik miner. What a rejection of monopoly mining will allow the majority of the calm to mine coins through cards and special programs.
The formation of tokens will allow the issuance of patents and shares.
Accordingly, dividend payments are expected. Among all owners of the asset, in accordance with a clear ratio of shares, payments are planned.
With a cost of 5 RVN, you can sell the asset from them. This is only possible for non-shared assets, does not transfer the resource to UTXO by concatenating a unique txid. After this procedure, the asset can be moved from one address to another, tracing its history. And only the owner of the asset can make it unique. All costs of organizing unique assets will be referenced to the address of the record.
The choice of the correct information is carried out using the consensus of parallel tokens between their owners. The purpose of recording the results of voting tokens are sent to addresses.
Acting as a means of payment, ravencoin is an order of magnitude higher than its progenitor bitcoin. Neither bitcoin nor ethereum has the ability to transfer property rights through their assets, which ravencoin can boast of.
Anyone can use the opportunity to use the project, since the source code is available to everyone.
The most important thing in the operation of the blockchain of this currency is speed and privacy. The speed features are achieved by reducing the transaction time by 10 times. Any attempts to change information from the outside can lead to system blocking. All data after each transaction is updated and synchronized.
The very important existence of Raid Coin is the high profitability of mining. Compared to Bitcoin, it exceeds the capabilities by 100 times, which once again proves the projects profitability. These opportunities have already been appreciated.
The future of RAVENCOIN (RVN)
The quick start of the coin and the investments of 2 large companies in it provided it with a high rating, but at the moment this currency continues to fall. According to the majority of players on modern cryptocurrency exchanges, the price for a coin is greatly overstated and has not been confirmed by anything. Most likely, this money will fall significantly in the near future.
In general, the functioning of the Ravencoin coin evokes various feelings and many diverging opinions among specialists. Like any starting project, she has a lot of assumptions about her future. At its start, the coin already has 2 large investors, which raises an opinion about its stability. Although, many in their statements often mention that the investments were not actually made.
It also states that there was no big advertising campaign. However, what kind of advertising campaign can we talk about, if it is enough that the creators of this currency are Bitcoin developers. It seems that this fact alone is enough for the coin to have weight.
Many users also liked the new wallet, convenient and easy to use, at the same time very reliable.
The increased speed of transferring funds and information elevates this currency over bitcoin. Along with high-speed transactions, high mining profitability plays an important role.
Most popular analysts attribute high growth in the long term to this currency. The idea of patents seems especially interesting, which can find application in any area and area of human life.
The rapid rise of the coin on the stock exchanges made investors pay attention to it. However, this functionality is currently falling. Most likely, such drops are due to the fact that the first perception of the currency was emotional, innovative, but at the moment its capabilities are not fully understood, and therefore the application has not been fully found, a place in a certain area.
As for the prospects for the activities of their creators Ravencoin themselves to improve their offspring. 1% of the coins were put into circulation in order to start promising mining. Further in the plans is the honing of algorithms. For clearer work in the software mining process. The development of tokenization of assets is being improved, the creation of a reward for the authors of tokens. Modernization of messengers among token holders. Creation of a voting program using tokens.
Since Ravencoin is a very young currency, it is very difficult to build research in the field of analytics and any forecasts at the moment. During its existence, the cost of this unit at the very beginning of the path soared 2 times. Initially, this happened in March, where the price was $ 0.07 (0.000009 BTC), and the subsequent jump occurred in May. And it is not yet reliably clear what exactly provoked such a movement of the currency. Since its further movement led to recession.
In June, the currency price stabilized and was already holding at the $ 0.022 (0.000003 BTC) limit.
No one doubts that this coin has many possibilities, however, it is quite normal that there are different views, both positive and negative. Most of them still lean towards the positive aspects of the characteristics of this currency. First of all, the technical functionality, advanced capabilities, and speed reduction when making a transaction are discussed.
It will be quite natural that the creators spent their main funds not on an advertising campaign and the promotion of this project activity, but on routine development and research work, releasing a coin still hot on the electronic currency market . This proves once again that the developers are firmly convinced of the effectiveness of their brainchild, especially since it was created practically for popular purposes, for the possibility of its use on graphics and central processors.
Although, many people believe that marketing planning in this case must be present. As, for example, the starting consumer base had sufficient potential for its growth, since this coin was not known to a wide range of consumers. The first month of sales triggered a 400% increase in customer base. The network has strangely done without speculative machinations.
After launching the currency on a big voyage, the participants of this project were able to have a reliable wallet to keep the accumulated funds, reduced the waiting time for transactions and the availability of information about ravencoin.
The outlook primarily highlights the availability of mining.