As the push between cryptographic coins continues, more unique projects are affecting the blockchain. Despite the bear market, Ravencoin (RVN) has had a major impact in the cryptographic sphere. Although the currency is still new to the cryptic community, the impression made by its functionality shows that the future will be brighter.
The advent of the blockchain opened the financial system. Because cryptocurrencies are gaining massive acceptance, Ravencoin's (RVN) technologies are turning heads in the cryptographic sphere. With the advent, the coin has introduced impressive technologies into the blockchain market.
Creation and transfer of resources
Digital resources still need to have a physical point of support. For this reason, their continuous survival rests on the shoulders of exchanges. While the introduction of Ravencoin (RVN) resource transfer is welcome, it is worth noting that it has been seen in other coins like Bitcoin. It is therefore a poser because the currency is deposited for the transfer of assets. At the moment, Bitcoin allows the regular transfer of resources. Ripple's XRP consolidated it by creating a cross-border solution.
Despite these competitions, the Ravencoin (RVN) solution is high. The currency is the first to concentrate completely on the transfer of resources. With the coming, Ravencoin (RVN) has filled the gap of asset transfer across borders.
However, it is worth noting that the currency has some links with Bitcoin. Ravencoin (RVN) was created by an open source fork in the Bitcoin code. The currency has become the best option for Bitcoin's inability to determine the creation of an asset. Ravencoin (RVN) also defeated Ethereum (ETH) in the game of resource transfer. In the case of Bitcoin, the assets are incorporated into Bitcoin and the fees charged for the transaction. Investors who were looking for a cheaper and quicker transfer protocol for resources were established for Ravencoin (RVN). To this end, the currency has made the transfer of resources as quickly as possible.
Ravencoin (RVN) has introduced a new hashing algorithm
Ravencoin (RVN) can be considered as a Bitcoin (BTC) in another form. The currency has basically taken on some features of the Bitcoin cryptocurrency (BTC). In addition to taking a fork in the Bitcoin code (BTC) for development, Ravencoin (RVN) also uses the same consent mechanism as Bitcoin – the Proof-of-Work (PoW) algorithm. However, the intention was to protect user data.
On the other hand, the coin introduced a new hashing algorithm. The X16R algorithm is a variant of the SHA-256 hash algorithm (BTC) of Bitcoin. The algorithm was meant to bypass the dominance of mining pools. Furthermore, it allows the ASIC extraction. The X16R hashing algorithm has helped Ravencoin (RVN) to launch the token without pre-mining. By virtue of this, the value of the currency is destined to increase and during the launch, Ravencoin (RVN) has beaten the Bitcoin mining reward (BTC). The coin started at 5,000 RVN against Bitcoin (BTC) 50 BTC.
Support for three tokens
It is clear that some altcoins have more tokens. Ravencoin (RVN) is among the first cryptographic coins to start three tokens. The first token, the unique token, was created to consolidate resource security. The hay days of property theft are destined to be finished, as the unique tokens take center stage. With the token, the property belongs to the token holder who created the resource. The token ceases to be his when he transfers it to another address. Unique tokens are quite unique and only one can exist at a time. The token can be used for car registration and software licenses.
The Rewards token is an incentive for users. A token holder who created the unique token can use the reward token as an incentive for users. For example, a car manufacturer can create unique tokens and issue some reward tokens to customers when they sponsor their brand.
Finally, the non-asset token is a means of communication. Whenever a unique token is created, inactive token tags are added. The token guarantees efficient interactions across the network.
Transfer of physical resources
Ravencoin (RVN) made mention of real assets transferred through the network. Although this might seem like a great idea, money has kept them as suggestions. In the future, these activities could be on the way to enjoy creation and transfers on the blockchain network.
The first category of physical goods in the real world that can be converted into tokens are land assets, gold bars and physical euros. Gift cards and virtual goods such as the game currency also made the list. If authorized, these resources can be recreated in tokens on the Ravencoin (RVN) network.
Single asset transfer protocol
The emergence of Ravencoin (RVN) in the cryptographic sphere in January 2018 has done very well for the community. The efficient resource transfer protocol has beaten Bitcoin (BTC) and Ethereum (ETH) in the game. Ravencoin (RVN) is the first project designed for the transfer of real assets. With the advent, investors can now use technology in creating and delegating digital resources. In the coming years, physical resources will be integrated into the single resource transfer protocol provided by Ravencoin (RVN).