Ravencoin is designed to to one thing and one thing well: help users issue secure digital tokens.
The code is a fork of Bitcoin.
To create the tokens, Ravencoin’s protocol burns 500 Ravenccoin. These coins are burned and the token created.
So far over 18,500 tokens have been created using the network
You can see the data at: https://ravencoin.asset-explorer.net/
The token creator can also create sub assets.
Each token has a master asset which allows control to be transferred to another party.
Tokens can be anything: securities, collectibles, games, money or something else.
The creator of the token decides its purpose and properties. Properties include the name, number of coins, how they are issued etc. Creators can create a fixed supply and lock the token so no more can be created or have the ability to issue more.
There are no compliance functions, whitelists or AML KYC functions within the protocol.
PROJECT ECONOMICS & STRUCTURE
Ravencoin is fair.
- no ico
no founder set aside or dev set aside
no fundraising of any kind
no CEO, employees or leader
no corporate structure, foundation or any official leadership or entity
- fair launched, fairly mined
was announced at MIT, Texas Bitcoin Conference and other events and on social media in October 2017
Medium article announcement and Twitter in October 2017
official launch on Oct 31 (Bitcoin’s 9th birthday)
binaries released Jan 3
within a day over 100 miners — within a week, thousands
Asset layer released Nov 5 2018
Dev has been supported by volunteers. Many generous people companies have donated time and money.
The biggest funding contributor has been Medici. Medici Ventures is a venture group owned by Overstock (I am on the board). Medici allows employees to work on open source projects.
Chainstone Labs is also a supporter as are many individuals and companies.
Vinsent Wine app and others are building using RVN.
The network is live and operational.
Ravencoin uses its own chain.
The mining also is X16R
This was created for Ravencoin
(Note, the original paper referenced ASIC resistance — this was a year And a half ago and new capabilities of ASIC manufacturers make it easier to make an ASIC. It was never “ASIC proof”)
Hash rate has been very high currently it is over 7 TH/ s.
HOW TO HELP AND PARTICIPATE
- mine and run a full mining node on your computer (this helps secure the network) There are many YouTube videos and other sources which can help you set up your PC to mine.
Download the wallet and make tokens — maybe make a fun or test token first and play around with it
Here is the direct link on GitHub to the wallet https://github.com/RavenProject/Ravencoin/releases ; download it and you can see how it works and create and manage assets
Reserve tokens in your name or organization name
Follow the many companies building on the protocol
do security and bug testing (there are bounties at the GitHub)
You don’t need permission to build on this network.