More recently, almost nothing was known about such a cryptocurrency as Ravencoin. However, in 2019, it increased significantly in price, demonstrating excellent growth dynamics. Therefore, you should familiarize yourself with it in more detail to understand whether it makes sense to invest in it.

About Ravencoin project

Ravencoin is an open source project that uses modern peer-to-peer technology without intermediaries in the process. Users have the ability to make their own contributions without any difficulty.

This currency is a digital decentralized network, the main purpose of which is to facilitate the transfer of financial assets, like Ethereum. The Ravencoin coin is a fork of Bitcoin with the further formation of an independent network, that is, a fork. The Ravencoin blockchain is also based on this principle. The crypt also functions on the bitcoin code. The main reason for the appearance of any fork is the desire to endow the new currency with any special additional features and functionality that are in demand by a certain audience of users. For this reason, in order to satisfy the wishes of some of the currency owners, a new crypt is being created with modernized qualities. It also happened with Ravencoin. The developers announced that the work on the creation of a new project is starting in 2017. The program was launched already in January 2018.

It is necessary to separately point out that since Ravencoin is still a bitcoin project, there is no need to talk about the presence of any team of its own. Most likely, employees practicing in bitcoin were simply allocated, who took up the new project. However, the names of Tron Black and Bruce Fenton should be highlighted, which play a major role in the development.

In the early stages, RVN tokens appeared only on small exchanges. However, after the listing was carried out, the cryptocurrency began to appear in high positions on the Binance exchange. There was no special advertising campaign for recruiting potential investors. However, this was not an urgent need, because the team managed to get the support of influential investors. The roadmap was formed at the first stages of the project creation, and the developers adhere to it without question.

Ravencoin features

The main goal of this project is to create a secure and most convenient crypt for mass use and instant transactions. This new digital currency is essentially a fork of bitcoin, but at the same time it has its own characteristic features that developers place bets on in order to further popularize.

This cryptocurrency is based on basic principles such as decentralization, open access, reliability and publicity. Also, the cryptocurrency is absolutely private, since other users do not have the opportunity to find out the amount of the transaction and the balance of funds on the account. Efforts are being made by the developers to improve the tokens from a technical point of view.

When developing, the priority is to form your own hashing algorithm to ensure resistance to ASIC devices. Due to this, the availability of cryptocurrency mining on video cards and a central processor appears. Also, the attention of developers is focused on the publicity of the source data. It is indicated that everyone can take part in the development, since the complete list of resources and codes is in the public domain. For this reason, users, for a fee from the company, can use these resources to improve functionality.

If we consider the user level, then attention is focused on the convenience of the created wallet and the speed of the transaction. The developers are doing everything possible to ensure that the crypt becomes popular for mass use and serves as a means of payment.

Not the least role is played by activities related to the development of the tools available on the platform. It is planned to integrate new features that are based solely on modern developments. It is on their basis that the founders plan to create money that is not only adaptable to user requirements, but also fully relevant for operation in a wide variety of areas of activity. You should also pay attention to the fact that within the framework of this platform, in the future, it will be possible to transfer not only digital money, but also tokenized assets in order to increase their value. This aspect is one of the main distinctive features of the presented project, which ensures high competitiveness relative to other existing cryptocurrencies on the market.

How is Ravencoin created?

The developers of Ravencoin immediately presented to the public a statement that they would fight against the monopoly of ASICs. For this reason, this crypt will be distinguished by high indicators of resistance to Asic mining. Earlier, the X11 multi-algorithm was created for this. It included eleven hashing algorithms, which gradually replaced each other. However, the developers of mining hardware still managed to release Asic for cryptocurrencies. Because of this, the creators had to go even further and implement sixteen algorithms into the network, providing reliable protection.

Mining of this cryptocurrency is possible only on central processors and video cards. The developers reserved the right to change the algorithm. The direct principle of crypt mining is a sequential change of sixteen computational algorithms. The order of alternation will depend only on the hash amount on the previous block. To date, there are no devices that are capable of reincarnating in this way. Despite this, for graphics adapters, this process is not at all difficult. Therefore, it can be argued that mining of this crypt is possible only for owners of large or small rigs on video cards.

Due to the presence of a unique technology of its kind, which is called X16, users have the opportunity to choose the most suitable algorithm for mining. Therefore, it is possible to mine coins after the algorithm is activated by the system.

Many users argue that there are periods when mining this crypt is completely unprofitable and you need to wait until another algorithm is connected. There are also other difficulties, which are that, due to the influx of users, mining has become more difficult and quite often simply unprofitable. It is not recommended to engage in mining alone, because the best solution would be to join large pools.

Is Ravencoin infinite?

Today there are 728,375,000 RVN in circulation. In total, 21 billion coins were issued. Since the inception of this project, an increasing number of miners are starting to mine this particular crypt. The potential of this coin has been hugely influenced by the support of the community, which has proven to be incredibly strong.

Strengths of Ravencoin

The Ravencoin cryptocurrency has already established itself on the modern market on the positive side, as it has a number of strengths, appreciated by many users:

The capabilities of this currency allow you to make changes to the block size up to ten megabytes. This, in turn, allows you to create additional transactions, while maintaining the excellent speed that is observed when transferring data on the network.
Ravencoin allows you to patent different ideas. In this case, patent holders acquire special rights that can be transferred to others for use or sold. To this end, you just need to figure out on your own under what name the registration of the patent asset will take place, after which you can proceed directly to the registration procedure. But it should be borne in mind that the above rights are valid only in the Ravencoin system.
In order to store coins, the developers have created easy-to-use wallets. They are equipped with modern methods of protection, therefore they are reliable. Users can be confident in the safety of their own assets.
The system uses a fairly easy-to-use technology of communication between users of this network. This allows for almost instant transactions between them.
There are many different rewards available on the platform. Members can take advantage of the awards and bonuses that the creators reward those who participate in the development and improvement of the system.
Since there is a high transfer rate, which is ten times higher than bitcoin, if we consider this indicator in terms of payment to miners and electricity consumption, this crypt is distinguished by high efficiency rates.
In addition to all of the above, it should be noted that the developers are constantly improving the existing software, new solutions are being introduced.

Ravencoin in TOP currencies

For the period of creating the review, that is, for December 2019, the cryptocurrency rate is 0.02 US dollars. Today, in the rating of cryptocurrencies, Ravencoin is in forty-first place, which is a fairly good indicator for a young project. It should be borne in mind that user interest in platforms that provide asset tokenization is growing every year. Due to the modern functionality of Ravencoin, it should not be ruled out that its internal token may become quite popular and grow in price. Also, do not forget that this coin successfully develops the market, cooperating with the most popular exchanges. It is quite easy to buy Ravencoin with them today.

This project has secured the support of such a large exchange as Binance, since the advantages of Ravencoin are repeatedly demonstrated on Twitter by the director of this exchange. This is all despite the fact that the sites management rarely advertises coins added to the listing. Also, importantly, the developers of the crypt presented an interesting roadmap, the points of which are being regularly performed. It speaks about the reliability of the project and inspires confidence of users. For the launch of new tokens, it is planned to introduce rewards and bonuses.

Experts predict that the growth of the token is quite possible in 2020, and Ravencoin can be bought for one dollar. Therefore, the popularity of altcoin in terms of investment is growing rapidly, but it is worth considering certain nuances:

Ravencoin is more suitable for short distances. Having studied its features, one should note one pattern that is constantly repeated. After positive information appeared in the media, the price of Ravencoin began to rise rapidly. However, after sharp jumps, a correction follows, during which the value of Ravencoin falls.
With a long-term investment, success will depend only on whether the developers succeed in expanding their client base. Due to a fairly quiet start, an impressive number of potential investors were lost.
Since the currency is fairly new, it is impossible to give accurate forecasts for the long-term prospects of Ravencoin. However, you can make good money on mining and buying and selling coins if you sell them during the growth period and buy again after the decline. However, investing large sums in the long term is a rather risky decision.