Important Facts about the Game of Thrones-Inspired Ravencoin (RVN)
Popular HBO TV series, Game of Thrones, has been a major fan-favorite for more than a few years now. Game of Thrones, one of the best TV shows of all time by most rankings, has been adopted so much into the real world that many people have started giving their children names of some of the fictional characters in the series. This adoption eventually made its way into the cryptocurrency industry when in November 2017, an official Medium post announced Ravencoin which was described as “a digital peer to peer network for the facilitation of asset transfers.”
Explaining the name, the post said:
“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.”
Ravencoin Features And General Acceptance
Ravencoin is a Bitcoin Hard Forked asset and uses 16 mining algorithms (X16R) to ensure security and confidentiality much better than Bitcoin. The post also states a much quicker block reward time and emphasizes its open source nature promising better user control.
“Key changes include a faster block reward time and a change in the number, but not the weighed distribution schedule, of coins. Ravencoin is free and open source and will be issued and mined transparently with no pre-mine, developer allocation or any other similar set aside. Ravencoin is not designed to be cash. Ravencoin is intended to prioritize user control, privacy and censorship resistance and be jurisdiction agnostic, while allowing simple optional additional features for users based on need.”
Ravencoin seeks to make sure transactions are completely decentralized and as straightforward as possible and also to verify the real owners of assets. The coin is doing considerably well as it is currently in the first 50 coins when ranked by market capitalization. It now has a market capitalization of $218.3 million.