What is Ravencoin cryptocurrency? Interview with Tron Black
Do you know about the Ravencoin cryptocurrency?
Ravencoin was launched as an open-source fork of Bitcoin’s codebase with additional features.
In addition to the ability for users to issue personalized assets on the Ravencoin Network, other changes included one minute block times or even the Ravencoin cryptocurrency.
Ravencoin is a very interesting cryptocurrency. That’s why we wanted to interview its president, Tron Black, which is also a former lead developer for Ravencoin.
We wanted to know more about the Ravencoin cryptocurrency. Why and how to have created Ravencoin? Tron Black answered us!
Interview with Tron Black, the Ravencoin cryptocurrency president
How does Ravencoin work?
Tron Black: The Ravencoin cryptocurrency uses the same code as Bitcoin, but adds the ability to create your own assets on the Ravencoin Blockchain.
You burn 500 RVN (plus 0.01 RVN fee), and you can create any asset name you like, provided someone else has not already minted an asset with the same name.
Creating NFTs will burn 5 RVN.
Those assets move just like Bitcoin. They have their own UTXOs, and you can send them to others with Ravencoin addresses.
What are Ravencoin assets?
TB: Tokens that belong to you, the issuer. You decide how many, how divisible, and what they represent. They could represent equity, partial ownership of real estate, gift cards, etc.
You can add an IPFS file when you mint (issue) your tokens. This will be an immutable file (or folder of files) that explains what your tokens are about.
Here are some examples on this asset explorer.
What is Ravencoin used for? Why choose Ravencoin instead of another cryptocurrency like Bitcoin?
TB: RVN is the native token of Ravencoin, and you can use it for anything you’d use Bitcoin for.
You can trade it for USDC, BTC, etc. It has a value on many markets. It is a scarce digital commodity in the same spirit as Bitcoin.
It is cheaper, so you can hold many more.
Here are some exchanges to get Ravencoins.
What can we build with Ravencoin? What build-ons with this cryptocurrency (Smart contracts, DeFi...)?
Why mine Ravencoin?
TB: The Ravencoin cryptocurrency is easily mineable with a GPU. As Ethereum transitioned to Proof of Stake, many GPU miners moved over to mine Ravencoin.
You can get instructions on mining from these Ravencoin mining pools.
Why is Ravencoin ASIC-resistant?
TB: Ravencoin is intended to be for everyone. It is better to keep the decentralization by not allowing large farms to mine RVN with specialized equipment. Best to have anyone with a gaming rig with a GPU to utilize that computer at night, or when it is not being used to mine RVN.
Better to have 1,000,000 miners each get 100 RVN, than 100 miners each get 1,000,000 RVN.
Ravencoin explains that it is more decentralized than other cryptocurrencies. What do you mean (in terms of your architecture, governance or even organization)?
TB: All of the above.
It does not have a leadership company. The mining is decentralized by using GPUs and not specialized hardware (ASICs). The governance is very ad-hoc, and would require adoption by nodes, miners and economic actors (exchanges, stores) to make any consensus changes. Like Bitcoin, changes are not easy.
Does staking exist for Ravencoin?
TB: No, you should mine it instead. Any decent GPU will work.
When is Ravencoin halving?
TB: We had one on January 11, 2022. The next one will likely be around January 2026.
In your opinion, who is the best Ravencoin wallet?
According to you, what is the Ravencoin future after ETH 2.0?
TB: Ravencoin is a superior platform for asset creation. There are four types of assets on Ravencoin and I have written articles on how three of them compare to their smart contract equivalents. The fourth does not have a parallel because there are no sub-assets in Ethereum.
On this page, you’ll find the list of affected assets.
In this section, the list of NFTs or Unique Assets.
And on this page for more information on the ERC-20 or Ravencoin assets.
Do you want to add something to close this interview about Ravencoin?
TB: Thank you for the chance to answer questions about Ravencoin.
There is a new project coming out that adds some new capabilities that are DeFi-like. This project is called Evrmore and many $RVN holders will automatically get $EVR. It is being created by a different team, but they are RVN supporters that wanted additional features.
Which Ravencoin mining pool to choose?
You can mine Ravencoin on Cruxpool.
Indeed, we support Proof of Work projects in order to participate and spread the hashrate.
Ravencoin mining is ASIC-resistant, and you will be able to mine if you have GPUs with 3GB of VRAM.
You can check our GPUs mining performance pages to know how optimize your hardware is by mining Ravencoin!
We hope you enjoyed the interview with Tron Black, president of Ravencoin! After The Merge, it is natural to want to mine and test new cryptocurrencies like Ravencoin.
Otherwise, you can mine Ravencoin on Cruxpool right now.