Ravencoin is a decentralized network that allows users to send and receive assets directly to each other. Ravencoin is built on a fork of the Bitcoin code and utilizes the same UTXO model that Bitcoin uses.
The main difference between Ravencoin and Bitcoin is that Ravencoin has a focus on asset transfers, while Bitcoin focuses on peer-to-peer payments.
Ravencoin was created in early 2018 by Bruce Fenton, an advisor to the Bitcoin Foundation. The project was launched in response to the growing demand for asset-backed tokens. Ravencoin utilizes the UTXO model and features a variety of assets that can be transferred on the network, including:
·Ravencoin (RVN): The native currency of the Ravencoin network. Used to pay transaction fees and reward miners.
·Tokens: Represent ownership of an asset, such as a company share or a piece of property. Can be traded on exchanges or transferred directly between users.
·Assets: Physical or digital assets that can be tokenized and transferred on the Ravencoin network. Examples include commodities, loyalty points, in-game items, and more.
Ravencoin has seen significant adoption since its launch, with over 1,000 assets being tokenized on the network. The project has also attracted attention from major corporations, such as Overstock’s Medici Ventures and Nash Exchange.
Is Ravencoin a Fork of Bitcoin?
Yes, Ravencoin is a fork of Bitcoin. However, Ravencoin has made several changes to the Bitcoin codebase to better suit its focus on asset transfers.
These changes include adding new features like tokenization and asset management, as well as increasing the total supply of RVN tokens.