Ravencoin is a cryptocurrency that was built from the backs of over 430 Bitcoin developers who made 14,000 commits to its codebase.

The coin was first released announced on October 31st, 2017 and was released for mining on Janurary 3, 2018. RVN started trading on Binance exchange on October 12, 2018.

Ravencoin was designed and optimized for transferring assets from one entity to another based on the UTXO model of the Bitcoin protocol. As such, Ravencoin is a fork of Bitcoin's code.

Buy/Sell Ravencoin (RVN)

How To Buy Ravencoin (RVN) On Binance

Some key changes include a block reward time of one minute, a change in the number of coins issued, and a weighted distribution schedule. Additional changes include a shift in its asset creation module and the offering of messaging capabilities. All of Ravencoin's code is open source and is mined publicly using the Proof of Work (PoW) consensus algorithm.

Ravencoin states that it has no "private, public, founder, or key developer" and that it was designed to "prioritize security, user control, privacy and censorship resistance" as its governing ideals.

Why invest in Raven Coin?

Ravencoin intends to resolve the problems present in both the Bitcoin and Ethereum ecosystems.

For Bitcoin, assets in the blockchain must be followed as they were originally intended, which means that no changes to the network can feasibly be made. In the case for Ethereum, a different problem exists. As Ethereum does not recognize native smart contract tokens, this can often be confusing in the case of multiple ERC-20 tokens with identical names. The only difference then between the names is the contract hash, which is impractical when dealing with a large number or amount of different tokens of the same name.

What are ERC-20 tokens?

The issuer of a token burns RVN and must provide it with a unique token name. The issuer determines the quantity issued, the number of decimal places, and whether they will be allowed to issue more of the same token in the future.

In Ravencoin's own words, its objective is to "create a bitcoin-like system that is fully asset aware."

This kind of system brings with it three apparent advantages: first, client and RPC commands can protect assets from being destroyed by accident, and secondly, it allows native clients to "issue, track, and transfer assets."

The third benefit is that the model allows users to enhance the security of its underlying assets with "a strong mining community and wide distribution."

How is Ravencoin different from Bitcoin and Ethereum?

There are some specific changes that differentiate Ravencoin from Bitcoin and Ethereum. First, assets are available to all users on the Raven protocol without the need to be mined and serve a unique purpose in the Ravencoin ecosystem. Unlike Bitcoin or Ethereum, users get to decide what their assets are and how they are used. These assets (or tokens) can be named whatever the asset creator would like, with its purpose also decided within the same subjective framework. For example, and in Ravencoin's own words: "an asset is just a limited quantity of a unique symbol, and transferable to any Ravencoin address."

In practice, this means that assets are tokens that can be issued by the Raven protocol without the need to be mined. Owners of the said assets can then prescribe certain rules and unique purposes of these assets that are independent of the Ravencoin chain. Assets exist on the chain under "whatever name, denomination, or purpose selected by the creators of each asset, coin, or token."

All Ravencoin tokens are transferrable and enjoy the same ease of movement as any other token or cryptocurrency.

Examples of assets

A number of examples were given of assets in the RavenCoin whitepaper, including:

• Real-world, custodial assets such as gold or silver bars

• Representing a share of a project such as security tokens

• Virtual goods like in-game points and currencies

• Representing credit such as gift cards or airline points

Ravencoin Price Analysis

Ravencoin has been one of the best-performing coins since Bitcoin tested the $4,000 resistance in February, increasing four-fold since February 22.

Despite increasing 11% on April 19, which quickly sent the coin into overbought territory, the bears have so far remained in control.

The RSI bounced off an oversold territory on April 25 with a short reversal but the currency’s momentum remains on the downside. The RSI line is also pointing downwards so we could see a continuation of the current bearish trend.

Looking at the MACD, we see further bearish evidence. The histogram alone tells us that bears are firmly in control with a bearish centre line cross.

RVN/USD is trading below the moving average of the Bollinger Bands and briefly touched the lower band. Both of these indicators tell us that the overall trend is pointing downwards and that we can expect a continuation of the sell-off.

The final piece of evidence against the currency is the low levels of volume compared to its rally earlier this week. As volume and momentum generally leads price, this tells us that it would be unlikely that the currency will experience another rally any time soon.