Ravencoin is a peer-to-peer blockchain, handling the efficient creation and transfer of assets from one party to another.
Ravencoin specializes in asset transfer – nothing more, nothing less. Although you can exchange assets over other blockchains, like Bitcoin and Ethereum, that’s not their intended purpose. And the lack of specialization leads to problems that are specific to transferring assets. Ravencoin enables you to create and trade any real-world (e.g., gold bars, land deeds) or digital (e.g., gaming items, software licenses) assets on a network with only that in mind. This has led to an increase in RVN Price.
Ravencoin doesn’t have an established team. It’s an open-source project led by the core developers: RavoncoinDev, Tron, and Chatturga (discord usernames). Bruce Fenton, Board Member of The Bitcoin Foundation, advises the team. The core developers launched Ravencoin on January 3rd, 2018 and Fenton kicked off the launch with a Tweet announcing the start of mining. The project gained some notoriety when Overstock CEO Patrick Byrne announced that his company had made a multi-million dollar investment into the team. Since then, the team has been building out the core functionality of asset support and rewards capabilities.
Fork of Bitcoin Code
As a fork of the Bitcoin code, Ravencoin features four key changes: modified issuance schedule (with block reward of 5,000 RVN), block time reduced to one minute, coin supply capped at 21 billion (a thousand times more than BTC) and a mining algorithm (KAWPOW, formerly X16R and X16RV2 respectively) intended to mitigate the centralization of mining caused by ASIC hardware.
Let us review RVN Price
RVN Price Prediction
RVN is currently trading above the support zone of $0.0803. If it can stay above this support zone, we could start seeing a move towards 0.1009 as the first resistance zone. If this resistance breaks, we could see a move towards $0.1218, $0.1572, $0.1806 and $0.202. Failure to break the resistance of $0.1009 and failure to hold the support at $0.0803 could lead to a drop towards $0.0658 and $0.0493.
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