RavenCoin (RVN) Review & Analysis – Ravencoin Review

RavenCoin

Assets On The Blockchain

Network Token

Ravencoin is a digital peer to peer network that aims to implement a use case specific blockchain, designed to efficiently handle one specific function: the transfer of assets from one party to another. Built on a fork of the Bitcoin code, Ravencoin was launched January 3rd, 2018, and is a truly open source project (no ICO or masternodes). It focuses on building a useful technology, with a strong and growing community.

Launched on January 3rd, 2018, the ninth anniversary of bitcoin’s launch, Ravencoin is an open-source project designed to enable instant payments to anyone around the world. The aim of the project is to create a blockchain optimized specifically for the transfer of assets such as tokens from one holder to another.

Unique characteristics of Ravencoin

ASIC free – Uses an X16R hashing algorithm
No Premine – Genesis Block launched, opening mining started
Fair Launch – meaning, on day one, you like everyone else could have started

“A Ravencoin post on Medium from November 2017 references Game of Thrones when introducing this experimental currency: “In the fictional world of Westeros, ravens are used as messengers who carry statements of truth. Ravencoin is a use case specific blockchain designed to carry statements of truth about who owns what assets”.”

Positives

Tokenized Assets are one of the most exciting spaces in the crypto world. Being able to facilitate the transfer of assets will enable several industries to take advantage of blockchain technology. Although there are competitors in this space that have been around for long than RavenCoin, there is plenty of room for multiple competitors in this space given the potential valuation of this industry. RavenCoin has one of the better decentralization models compared to more centralized projects such as Polymath. Whether customers care about the level of decentralization is yet to be seen as this is still a very new innovation.
With the continued centralization of proof-of-work cryptocurrencies such as Bitcoin due to advanced development of ASIC miners, RavenCoin is fully commited to staying ASIC resistant. If ASICs are created for the X16R algorithm behind RavenCoin, they will, at a specific block number, modify one of the algorithms to add Equihash, EthHash or similar efforts to increase the resistance to ASIC miners for Raven. Being a community driven coin dedicated to decentralization, ASIC resistance is extremely important, enabling new miners to get a fair go at mining RVN using consumer grade components.
One of the most exciting spaces that RavenCoin can disrupt is the securities/shares market. Tokenized assets will enable creators of these assets to reward holders for holding their token. Imagine the way the dividends work in the traditional share market but fully decentralized. Although the whole “Securities” scene is full of legal hoops that companies have to jump through in order to play by the rules (region dependent), we are already starting to see regulatory boards such as the SEC take cryptocurrencies seriously instead of simply dismissing them. Securities on the blockchain is inevitable and RavenCoin is poised to grab a share of the market.
A lot of people don’t quite understand the basic functionality of RavenCoin. Ethereum & Bitcoin were never meant to be used as a way of assigning unique assets to individuals, RavenCoin enables the Creators of these tokenized assets a way to absolutely verify that they own the asset, period. Without going into the technical side of things, we only need to take a look at Tokens such as HOT, CAN, CMT, ICN and BTM. Every one of these tokens has another project completely unrelated to them using the same “Ticker” or “Handle”. Without looking into the contracts behind these project, it’s impossible to tell these apart when sending them from wallet to wallet and this is only going to get messier as more projects are launched. Tokenized Assets are completely unique and, once registered, cannot be taken by another project.
From an Investors perspective, RavenCoin presents an excellent opportunity to get into a space that is going to be absolutely loaded with capital in the near future. Compared to projects such as Polymath, NEM, Waves and other smaller projects in the space, RavenCoin is very undervalued in terms of Market Cap. This is still a very new space that is still waiting on adoption but once it picks up there’s no doubt RavenCoin will be a key player, especially with a fully decentralized model behind it.

Concerns

One think you’ll see is a bit of concern around the supply of RVN. At the time of writing there are around 1.87 Billion RVN in circulation with a Maximum Supply of 21 Billion RVN. Obviously with ANY limited asset/rare item/limited resource; the more RVN that enters the circulating supply, the lower the value of the existing RVN supply. This is really only a concern for long term investors, but as long as the project continues to develop and garner adoption, the price MAY not be affected. This isn’t a direct concern for RVN, there are countless other projects which will have to go through the same thing. Worth mentioning.
Ravencoin has some competition with potentially powerful players. Polymath is competing in the same space with some heavy funding from their partners. Regardless of fundamental strength, competitors with more funds usually have the ability to push through development at a faster pace simply due to being able to pay their Team members more. Ravencoin is one of these coins that are completely community driven. On one side this is great because it avoids centralization and bad actors entirely, on the other side, community contributions are often out of the passion of developers who can opt out at any time if they don’t feel it is worth their time. Not a direct concern for Ravencoins fundamentals, just a matter of fact for purely community driven projects like this one.
No other real concerns for Ravencoin. Very promising project. You could point out the website looking a bit dated, no Core Developers listed (It’s a community driven coin what do you expect?) but all of this is pretty trivial, doesn’t mean much in regards to the strong fundamentals that Ravencoin has behind it.