{"id":11124,"date":"2023-08-08T09:15:05","date_gmt":"2023-08-08T09:15:05","guid":{"rendered":"https:\/\/www.bitnovo.com\/blog\/?p=11124"},"modified":"2022-05-18T11:45:27","modified_gmt":"2022-05-18T11:45:27","slug":"what-is-ravencoin-rvn-and-how-does-it-work","status":"publish","type":"post","link":"https:\/\/www.bitnovo.com\/blog\/en\/what-is-ravencoin-rvn-and-how-does-it-work","title":{"rendered":"What is Ravencoin (RVN) and how does it work?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Alternar tabla de contenidos\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #ffffff;color:#ffffff\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #ffffff;color:#ffffff\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-ravencoin-rvn-and-how-does-it-work\/#history_of_ravencoin\" >History of Ravencoin<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-ravencoin-rvn-and-how-does-it-work\/#how_does_ravencoin_work\" >How does Ravencoin work?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-ravencoin-rvn-and-how-does-it-work\/#x16r_and_kowpow_hashing_algorithm\" >X16R and KOWPOW hashing algorithm<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-ravencoin-rvn-and-how-does-it-work\/#%c2%bfque_es_rvn_la_moneda_nativa_de_ravencoin\" >\u00bfQu\u00e9 es RVN? La moneda nativa de Ravencoin<\/a><\/li><\/ul><\/nav><\/div>\n<span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Tiempo de lectura:<\/span> <span class=\"rt-time\"> 4<\/span> <span class=\"rt-label rt-postfix\">minutos<\/span><\/span><p>As we already know,\u00a0<strong>blockchain<\/strong>\u00a0technology gives rise to countless projects that could surprise us. One of them is\u00a0<strong>Ravencoin<\/strong>. In case you don\u2019t know what it is, don\u2019t worry. In this article we will tell you all about what it is and how it works.<\/p>\n<p>Ravencoin is a project designed on Bitcoin\u2019s unspent transaction output (<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-a-utxo-in-bitcoin\/\">UTXO<\/a>) model. This means that the projects share some fundamental\u00a0<strong>similarities<\/strong>. In more technical words, it is a decentralized peer-to-peer network developed with\u00a0<strong>blockchain<\/strong>\u00a0technology.<\/p>\n<p>This\u00a0<strong>open source<\/strong>\u00a0project is community driven. In this case its main focus is the secure<strong>\u00a0tokenization<\/strong>\u00a0and\u00a0<strong>transfer<\/strong>\u00a0of real-world assets on the blockchain.<\/p>\n<p>There is a slight<strong>\u00a0difference<\/strong>\u00a0between this token and other\u00a0<strong>digital<\/strong>\u00a0currencies. This is that while for Bitcoin and other cryptocurrencies the main objective is to\u00a0<strong>exchange assets<\/strong>, Ravencoin is not so focused on this goal.<\/p>\n<p>Simply put, Ravencoin allows the\u00a0<strong>creation and trading<\/strong>\u00a0of any\u00a0<strong>real-world<\/strong>\u00a0asset. We could talk about gold bullion, property titles and digital assets such as gaming items, software licenses, among others in a network.<\/p>\n<p>&nbsp;<\/p>\n<h2><span class=\"ez-toc-section\" id=\"history_of_ravencoin\"><\/span><strong>History of Ravencoin<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Thanks to Blockchain technology, it is now possible to\u00a0<strong>issue shares and financing rounds online<\/strong>. The issuance of property titles established on a token within a blockchain and even the casting of votes in elections in a totally\u00a0<strong>secure, private and transparent way<\/strong>.<\/p>\n<p>However, this technology is not available to everyone, not even to people with\u00a0<strong>knowledge<\/strong>\u00a0of web development. Due to its difficulty, it has become a territory only for<strong>\u00a0experts<\/strong>\u00a0in the field. As a result, the interest and capacity of\u00a0<strong>crypto-revolution<\/strong>\u00a0to reach every sector of society has diminished.<\/p>\n<p>This is one of the main reasons for the\u00a0<strong>creation of Ravencoin<\/strong>. This project was born on\u00a0<strong>January 3, 2018<\/strong>, precisely on the\u00a0<strong>ninth anniversary of the beginning of\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/how-to-mine-bitcoin\/\">Bitcoin mining<\/a>.<\/strong>\u00a0The company that created Ravencoin aimed to facilitate such costly processes without an intermediary to make use of cryptocurrencies in terms of value representation in the real world.<\/p>\n<p>As you may have noticed, the name of the coin refers to the ravens from the world of\u00a0<strong>Game of Thrones.<\/strong>\u00a0This is because the creators wanted to convey that just as the ravens of\u00a0<strong>Westeros<\/strong>\u00a0sent messages between castles, the\u00a0<strong>Ravencoins<\/strong>\u00a0will convey ownership over certain assets.<\/p>\n<p>Prominent members of the core Ravencoin development team include\u00a0<strong>Bruce Fenton<\/strong>, who is a member of the Bitcoin Foundation and is also the author of the Ravencoin white paper. To top it off, he acts as an advisor to the team. Other notable participants include Tr<strong>on Black, Jesse Empey and Patrick Byrne<\/strong>\u00a0among others.<\/p>\n<div id=\"image_1612456109\" class=\"img has-hover x md-x lg-x y md-y lg-y\">\n<div class=\"img-inner dark\"><img fetchpriority=\"high\" decoding=\"async\" class=\"attachment-large size-large ls-is-cached lazyloaded smush-detected-img smush-image-2\" src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/09\/Qu%C3%A9-es-ravencoin-RVN2.jpeg\" sizes=\"(max-width: 768px) 100vw, 768px\" srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/09\/Qu\u00e9-es-ravencoin-RVN2.jpeg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/09\/Qu\u00e9-es-ravencoin-RVN2-300x205.jpeg 300w\" alt=\"Qu\u00e9-es-ravencoin-(RVN)\" width=\"768\" height=\"526\" data-srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/09\/Qu\u00e9-es-ravencoin-RVN2.jpeg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/09\/Qu\u00e9-es-ravencoin-RVN2-300x205.jpeg 300w\" data-src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/09\/Qu\u00e9-es-ravencoin-RVN2.jpeg\" data-sizes=\"(max-width: 768px) 100vw, 768px\" \/><\/div>\n<\/div>\n<h2><span class=\"ez-toc-section\" id=\"how_does_ravencoin_work\"><\/span><strong>How does Ravencoin work?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Ravencoin\u2019s core\u00a0<strong>code<\/strong>\u00a0has the ability to recognize assets and be able to differentiate between them and regular transactions. This is a feature that\u00a0<strong>Ethereum<\/strong>\u00a0does not have. The blockchain also allows messages to be transmitted between users, which makes it easier to\u00a0<strong>dictate and organize contracts and agreements.<\/strong><\/p>\n<p>To carry out all processes, no\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-a-smart-contract\/\">smart contracts<\/a>\u00a0are required. This is because the main chain is designed to carry out its main\u00a0<strong>functions natively<\/strong>, so no actual cryptocurrency transactions are needed if we want to\u00a0<strong>move assets<\/strong>.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"x16r_and_kowpow_hashing_algorithm\"><\/span>X16R and KOWPOW hashing algorithm<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>En el <b>whitepaper<\/b>\u00a0de Ravencoin est\u00e1 representado c\u00f3mo el equipo desarrollador pretend\u00eda emplear un<b>\u00a0algoritmo de miner\u00eda\u00a0<\/b>espec\u00edficamente con el objetivo de evitar el dominio inmediato de los grupos de miner\u00eda y el dominio futuro de los equipos de miner\u00eda\u00a0<b>ASIC<\/b>.<\/p>\n<p><b>Bitcoin<\/b>\u00a0es y siempre ha sido un claro ejemplo de la centralizaci\u00f3n de la miner\u00eda, dando lugar a ciertas dudas sobre<a href=\"https:\/\/www.bitnovo.com\/blog\/que-es-un-ataque-del-51-por-cien-de-la-blockchain\/\"><b>\u00a0ataques del 51%<\/b><\/a>. Las grandes corporaciones mineras que cuentan con mucho capital disponible para invertir en hardware de miner\u00eda costoso con acceso a<b>\u00a0tarifas de energ\u00eda bajas\u00a0<\/b>cuentan con ventajas rentables sobre cualquier criptoentusiasta individual que busca comenzar a minar.<\/p>\n<p>Ravencoin ha resuelto este problema aplicando el uso de\u00a0<b>adaptaciones<\/b>\u00a0del algoritmo de hash\u00a0<b><a href=\"https:\/\/www.bitnovo.com\/blog\/que-es-y-como-funciona-el-algoritmo-sha-256\/\">SHA-256<\/a>\u00a0de Bitcoin<\/b>. El algoritmo hash original del proyecto, conocido como\u00a0<b>X16R<\/b>, fue una mezcla de los algoritmos conocidos como\u00a0<b>X15 y SHA-512.<\/b>\u00a0No obstante, la miner\u00eda de los ASIC poco tiempo despu\u00e9s se volvi\u00f3 econ\u00f3micamente viable, por lo cual la comunidad hizo una votaci\u00f3n para introducir un nuevo algoritmo de miner\u00eda. Este nuevo algoritmo ser\u00eda\u00a0<b>KAWPOW<\/b>, creado con el objetivo de eliminar las capacidades de distribuci\u00f3n injusta de tokens RVN.<\/p>\n<p>KAWPOW se trata de un algoritmo de miner\u00eda relativamente nuevo derivado de Ethhash y\u00a0<b>ProgPOW<\/b>. Con los ajustes a esta combinaci\u00f3n, Ravencoin ha creado un algoritmo resistente a ASIC. Este est\u00e1 dise\u00f1ado para\u00a0<b>desalentar<\/b>\u00a0la\u00a0<b>producci\u00f3n<\/b>\u00a0de hardware de miner\u00eda ASIC. Adem\u00e1s, dicho algoritmo mejora la\u00a0<b>igualdad<\/b>\u00a0de distribuci\u00f3n de tokens para la miner\u00eda.<\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div id=\"image_1809881722\" class=\"img has-hover x md-x lg-x y md-y lg-y\">\n<div class=\"img-inner dark\"><img decoding=\"async\" class=\"attachment-large size-large ls-is-cached lazyloaded smush-detected-img smush-image-3\" src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/09\/Qu%C3%A9-es-ravencoin-RVN.jpeg\" sizes=\"(max-width: 768px) 100vw, 768px\" srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/09\/Qu\u00e9-es-ravencoin-RVN.jpeg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/09\/Qu\u00e9-es-ravencoin-RVN-300x205.jpeg 300w\" alt=\"Qu\u00e9-es-ravencoin-(RVN)\" width=\"768\" height=\"526\" data-srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/09\/Qu\u00e9-es-ravencoin-RVN.jpeg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/09\/Qu\u00e9-es-ravencoin-RVN-300x205.jpeg 300w\" data-src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/09\/Qu\u00e9-es-ravencoin-RVN.jpeg\" data-sizes=\"(max-width: 768px) 100vw, 768px\" \/><\/div>\n<\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h2><span class=\"ez-toc-section\" id=\"%c2%bfque_es_rvn_la_moneda_nativa_de_ravencoin\"><\/span><strong>\u00bfQu\u00e9 es RVN? La moneda nativa de Ravencoin<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Ravencoin is a\u00a0<strong>cryptocurrency<\/strong>\u00a0whose blockchain is entirely focused on facilitating the\u00a0<strong>creation of new tokens<\/strong>\u00a0within its platform. This mechanism resembles the way\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-ethereum-eth-and-how-does-it-work\/\">Ethereum<\/a>\u00a0allows the issuance of\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-an-erc-20-token\/\">ERC-20<\/a>\u00a0tokens within its blockchain.<\/p>\n<p>This mechanism works with the objective of\u00a0<strong>massifying the use of cryptocurrencies<\/strong>\u00a0in real-world applications. In this way, its tokens are promoted to be used to represent and trade assets such as\u00a0<strong>property titles.<\/strong>\u00a0We are also talking about company shares, gold, comics and even Gift Cards, among others.<\/p>\n<p>Therefore, Ravencoin\u2019s main objective is to function as a<strong>\u00a0facilitator in the creation of new cryptocurrencies<\/strong>. This simplifies the process of programming them in its blockchain. It also promotes blockchain technology\u00a0<strong>worldwide.<\/strong><\/p>\n<p>Regarding Ravencoin mining, miners in such blockchain produce blocks every minute achieving a throughput of approximately\u00a0<strong>116 TPS<\/strong>\u00a0(Transactions per Second).\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/how-to-mine-ravencoin-rvn\/\">If you want to know more about rvn mining you can visit this article on how to mine Ravencoin<\/a>.<\/p>\n<p>As for the coin supply, it is limited to\u00a0<strong>21 billion coins<\/strong>. Compared to Bitcoin (21 million), Ravencoin presents\u00a0<strong>1000 times more.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p><span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Tiempo de lectura:<\/span> <span class=\"rt-time\"> 4<\/span> <span class=\"rt-label rt-postfix\">minutos<\/span><\/span>As we already know,\u00a0blockchain\u00a0technology gives rise to countless projects that could surprise us. One of them is\u00a0Ravencoin. In case you don\u2019t know what it is, don\u2019t worry. In this article we will tell you all about what it is and how it works. Ravencoin is a project designed on Bitcoin\u2019s unspent transaction output (UTXO) model. [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":7140,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-11124","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-criptomonedas"],"_links":{"self":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts\/11124","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/comments?post=11124"}],"version-history":[{"count":0,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts\/11124\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/media\/7140"}],"wp:attachment":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/media?parent=11124"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/categories?post=11124"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/tags?post=11124"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}