The cryptocurrency project “Ravencoin” published its first white paper on April 3, 2018. Entitled “Ravencoin: A Peer to Peer Electronic System for the Creation and Transfer of Assets,” the document is authored by CoinCPA founder Tron Black and Chainstone Labs founder Bruce Fenton, and seeks to offer information about the coin’s features which, until now, have largely been hidden from the public eye.
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Ravencoin (RVN) was officially launched on January 3, 2018. Its website states that it “aims to implement a use-case-specific blockchain, designed to efficiently handle one specific function: the transfer of assets from one party to another.” Up until the publication of its white paper, most reading material relating to Ravencoin dealt with its ASIC-resistant hashing algorithm known as X16R.[3]
Per the algorithm’s related paper, the “fixed order of ordinary hashing algorithms” aids in the construction of ASIC miners, but the X16R system consistently works to avoid this problem and others like it by “disrupting” these orders.[4]
In correspondence with Bitcoin Magazine, Black said that RVN bears several resemblances to Bitcoin, with many of its advantages being extended to assets. In the future, he says Ravencoin will also bear features similar to Ethereum’s ERC20 and ERC721 contracts.
“The code can be duplicated, but our community is unique, and the response has been incredible,” he said. “RVN is very different than recent ICOs and coins that have centralized control. The community is run by others; it has a very early Bitcoin feel, so for anyone who loved the early Bitcoin days when the community was open, cooperative and super-friendly, they should take a look at RVN.”
Phase one for the coin is complete. An ASIC-resistant, proof-of-work coin that
