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Ravencoin is a blockchain specifically dedicated to the creation and peer-to-peer transfer of assets. Just as Monero is solely focused on privacy, 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.
Although Ravencoin is a Bitcoin fork, it operates on its own blockchain. There are four main differences between the two networks:
- Issuance schedule: The Ravencoin mining reward began at 5,000 RVN whereas Bitcoin started with 50 BTC.
- Block time: At one minute, Ravencoin’s block time is one-tenth of Bitcoin’s.
- Coin supply: There’s a total supply of 21 bln RVN vs. 21 mln BTC.
- Mining algorithm: Bitcoin implements the SHA-256 hashing algorithm whereas Ravencoin uses X16R. This algorithm prevents ASIC mining.