Together with the over 7000 assets created on Ravencoin (RVN) network at the launch of the Mainnet asset layer in November 2018, the foundation behind the blockchain technology has today revealed that 90 days after the launch of the asset layer, assets creation on the network has been attempted by users in more than 16,000 occasions.

The update further stated that the assets includes memes, game tokens, digital security and more.

Since the asset layer was launched 90 days ago, users have used the Raven network 16,931 times to create assets. This burned 8.4 million RVN. These assets / tokens include: cryptocurrencies, digital securities tokens, game tokens, rewards, memes, experiments and placeholders. — Project Raven / RVN / Ravencoin (@Ravencoin) January 31, 2019

Ravencoin (RVN), in another update stated that for the creation of every token, 500 RVN would be burnt.

When a user creates a token they: – download and open the wallet

– choose the unique name under the assets section

– choose number of tokens and if it’s divisible and reissuable or not

– click create, this burns 500 RVN You now control a controller token and the tokens created. — Project Raven / RVN / Ravencoin (@Ravencoin) January 31, 2019

While about 8.4 million RVN were burnt on the network during the creation attempt, Ravencoin will apparently become scares in the market and this would likely result in value rise for the altcoin.

The foundation added that RVN assets are mined through the Proof of Work (POW) system, and each creation means a real economic expenditure.

All RVN is issued by fair mined POW. To create an asset you burn 500 RVN – so all assets created represent a real economic expenditure of electricity by each user. This means each token is both backed by a POW network and needed to use real world resources to create. — Project Raven / RVN / Ravencoin (@Ravencoin) January 31, 2019

Two days before, the CEO of SaluCorp who is an avid supporter of blockchain and Ravencoin (RVN) in a tweet disclosed that the first Ravecoin asset created on mobile wallet is live and will soon be released to the public.

It appears as though the first #Ravencoin @Ravencoin #RVN asset had been creating using mobile wallet. Release to the public hopefully coming very soon! #crypto #blockchain pic.twitter.com/9OJ5lqRIiI — Aaron Day (@AaronDayAtlas) January 29, 2019

In response, the altcoin’s community received the update with great warmth.

Assets Creation, A Boost For Ravencoin (RVN)

The assets layer creation has been viewed by observers as a stepping stone for the altcoin in the crypto space.

Attesting to the fact that the burning increases the value of the altcoin, Ravecoin (RVN), in November 2018 when the asset layer was launched with the creation of over 7000 assets, witnessed value rise which increased its rank in the market.

Similarly, Ravencoin (RVN) was rated by Coinranking amongst the top 5 gainers in the 24 hours market at this period.

Although the market is still slightly bearish, but lovers of the altcoin are expecting growth from the cryptographic project in coming days.