· Users can now swap RVN for other cryptocurrencies on CC Wallet.
· Users can now tip RVN to their followers and Communities using the CCTip Bot.
· RVN details, use cases, and features
CCTip has now added the Ravencoin (RVN) network to CC Wallet for users to Hold, Swap, or Tip. This was concluded based on the vast prospects of the Ravencoin network, and we wouldn't want our users to miss out on them.
The CCTip team believes that the new addition of the Ravencoin network will allow millions of CC Wallet users to benefit from the transfer and tokenization of the efficient asset facilitated by the RVN network.
What is Ravencoin?
Ravencoin is an open-source, peer-to-peer decentralized network built to facilitate the efficient transfer of digital assets; with Ravencoin, users can create and trade real and virtual commodities. Ravencoin copied its source code from Bitcoin; hence it uses the PoW consensus mechanism. However, it has slight changes in mining requirements and encryption mechanisms.
Unlike Ethereum, Polygon, Cardano, and other smart contract blockchains, Ravencoin doesn't have multiple use cases; its developers argue the need for specialization in asset transfer protocols.
Ravencoin Core Features
· KAWPOW Consensus Mechanism: KAWPOW Consensus mechanism is a variation of Bitcoin's Proof-of-Work mechanism. The similarity lies in the ability of the network to utilize a network of nodes running the Ravencoin software to validate transactions and mine new RVN coins. However, it differs from Bitcoin's PoW because it lowers the entry barrier for miners; any user who wants to become a miner on the RVN network can use their regular computers and not necessarily expensive specialized hardware.
· Bitcoin Fork: Ravencoin network is forked out of Bitcoin's code with four significant changes.
Ø Ravencoin mining rewards are halved every 4 years, just like Bitcoin. However, while Bitcoin rewards started from 50 BTC (and is now at 6.25 BTC), Ravencoin started from 5,000 RVN and is now at 2,500 RVN.
Ø RVN is mined every minute, while BTC is mined every 10 minutes.
Ø RVN uses the X16R encryption algorithm in contrast to Bitcoin's SHA-256
· Token Issuance: To create a new asset on Ravencoin, a user must burn RVN tokens. This allows RVN to be more valuable as more protocols are launched on its network.
RVN Token Information Sheet
· Token Name: Ravencoin
· Token Symbol: RVN
· Blockchain: Ravencoin
· Token Type: Utility and Governance
· Circulating Supply: 10,473,290,000 RVN
· Total Supply: 10,473,290,000 RVN
· Burnt Supply: 10,526,710,000 RVN
RVO has launched fairly; no pre-mining, private sale, or ICO.