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While Bitcoin touched off the rise in blockchain and cryptocurrency, it certainly has its limits. Bruce Fenton, Tron Black and Medici Ventures launched Ravencoin to create an answer to these shortcomings, as it has many technological similarities to Bitcoin and works off of a fork in BTC’s code. While RVN remains a smaller altcoin, it has interesting applications and real potential as a token-issuance blockchain to compete with both Ethereum and Bitcoin in the future.
RVN is a coin that works similarly to Bitcoin in many regards, such as its use of Proof-of-Work for minting new coins and operating the blockchain. However, it also incorporates a variety of technological innovations to improve the blockchain compared to BTC. For one, while BTC was supposed to be a decentralized currency, the advantages of powerful ASIC chips have given centralized industrial miners an advantage.
RVN’s code resists ASIC mining, which helps to counter this trend and keep power decentralized across a vast world of RVN owners. With this foundation, RVN owners can rest assured that the token will remain in the hands of the people. Furthermore, the Raven blockchain gains extra utility and value thanks to its ability to issue tokens, similar to how ERC-20 tokens operate on top of Ethereum. As a result, Raven is a suitable platform for future development by independent entities and a launching point for NFTs.
While it has been as volatile as any coin, RVN has nonetheless stood the test of time thus far and built a growing ecosystem.
Who created RVN?
RVN is the brainchild of businessman Bruce Fenton, coder and crypto expert Tron Black, and financial backing from Medici Ventures. Bruce Fenton is a major figure in the crypto industry and supported Ravencoin to rectify the flaws in BTC. However, as his skills are not relevant to operating RVN, he has largely moved on to avoid becoming a centralized figurehead who would exert undue influence on the ecosystem. Think a cryptocurrency George Washington, declining to run for president a third time.
Tron Black is a more enduringly influential figure in RVN, as he served as the lead software developer for Medici Ventures for years. In 2021, the Ravencoin Foundation spread its wings and took over independent management from Medici Ventures. Today, Tron Black continues to work as the lead developer for RVN, the head of the Ravencoin Foundation, and co-founder of the Blockchain Law Alliance.
How do I exchange and trade Ravencoin?
You can exchange and trade Ravencoin for USD and other currencies by depositing RVN to a crypto exchange that supports it. Once you set up the trade that you are interested in, the exchange will display the current exchange rate and the amount of currency you will get for your RVN. If that trade seems acceptable, then you can accept the deal and exchange your Ravencoin for a new currency.
Exchange RVN using Rubix
Rubix is one of the top exchanges to trade for RVN or to exchange this currency for others for several reasons. For one, it uses a combination of sophisticated encryption methods and strong security measures to offer an easy yet safe experience to customers. Furthermore, Rubix trading tools make it easier than ever to trade for the hot altcoins you want. Where other exchanges offer limited direct trades and might force you to make several exchanges to get what you are looking for, Rubix offers quick, direct exchanges between countless cryptocurrencies.
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