1. Project introduction

Ravencoin is a digital peer to peer network that aims to implement a use case specific blockchain, designed to efficiently handle one specific function: the transfer of assets from one party to another. Built on a fork of the Bitcoin code, Ravencoin was launched January 3rd, 2018, and is a truly open source project (no ICO or masternodes). It focuses on building a useful technology, with a strong and growing community.

As a fork of the bitcoin code, Ravencoin features four key changes:

(1) The issuance schedule (original block reward of 5,000 RVN)

(2) Block time (1 minute)

(3) Coin supply (21 Billion)

(4) Mining algorithm (KAWPOW formerly X16R and X16RV2 respectively)

The current KAWPOW algorithm aims to overcome the problem of centralisation of mining by utilising over the counter graphic processing unit (GPU) memory and compute capabilities. This is intended to allow most consumer grade GPU hardware to mine Ravencoin. The KAWPOW algorithm was derived from ProgPOW and ethhash, with modifications, to improve the distribution of Ravencoin to everyone.

Unique characteristics of Ravencoin:

(1) ASIC resistant – Uses the KAWPOW hashing algorithm to discourage the development of ASIC hardware

(2) Fair launch - Everyone has equal opportunity to mine or purchase RVN since day one.

(3) No pre-mine, no ICO, and no coins held for developer or founders rewards.

(4) Community Driven, and True Open Source

2. Team introduction

Lead Developer: Tron Black

Linkedin: https://www.linkedin.com/in/tron-black-90287

3. Investment institution

Medici ventures, NGC ventures, Digital asset capital management, etc.

4. Application

Total supply: 21,000,000,000

Token application:

RVN tokens are used to create either fungible or nonfungible digital assets, and even non-asset-based tokens, such as the VOTE token that powers Ravencoin’s consensus mechanism.