Ravencoin is a digital peer-to-peer network for the transfer of assets. The network got inspiration from the mythical world of Westeros. Ravens are often used in this world to carry statements of truth. Ravencoin works on the same principle. It carries a statement of truth on the blockchain as to who owns the assets.
The development of this project would not have been possible without the hard work and effort of over 400 developers of the Bitcoin. These developers have made more than 14,000 commits over the life of Bitcoin to date. The Raven project owners will be eternally grateful to them for their due diligence in ensuring the network is secure. The Ravencoin was built atop the foundation made by these developers.
About Ravencoin's Aim
Ravencoin wants to create a blockchain optimized for the transfer of assets from one person to the next. Based on extensive testing and development of Bitcoin, Ravencoin was created on a fork of the Bitcoin code. Some of the changes made include faster reward times for blocks, and change in the number but not weighed distribution schedule of the coins.
The Ravencoin network is open source and free. The network is mined and issued transparently without any pre-mine or developer allocations. Ravencoin is not designed to act as cash. Its priority is user-control, censorship resistance, privacy, and agnostic to jurisdiction. However, it will still allow simple optional features for users on a need basis.
One of the key uses of the blockchain is the ability to report who owns an asset. That is why the most successful use of the blockchain thus far has been Bitcoin. Besides that, the success that ERC20 tokens have enjoyed shows that there is a major demand for tokenized assets, which run on another blockchain. Tokens have many advantages such as the elimination of the need for trusted third parties and faster transfers.
Ravencoin is designed with a specific blockchain that is designed to handle the transfer of assets from one party to the next. For instance, Bitcoin was designed to perform as a type of better money. The developers of Bitcoin are not likely to prioritize improvements, which would benefit the facilitation of the transfer of tokens.
Ravencoin has the goal to see it use case specific blockchain to create code, which can improve existing structures such as Bitcoin or have an advantage for specified use cases. In the modern world, jurisdictions and borders will not be relevant. This is as more assets become easier to trade across borders in a frictionless manner.
Today, it is possible to move millions of dollars in an instance with the Bitcoin. In future, consumers are most likely to demand a similar level of efficiency for securities and related assets. For this system to work, it will need to be independent of regulatory jurisdictions.