Ravencoin (RVN) Publishes Whitepaper, Roadmap; Website Crashes In Minutes
Ravencoin (RVN), the pioneering cryptocurrency project that is mined using the first-of-its-kind x16r mining algorithm, published its whitepaper and developmental roadmap on Tuesday. So highly anticipated it was that the website crashed just minutes after Ravencoin officially tweeted that it was available for viewing.
The 11-page whitepaper, authored by Tron Black (Founder, CoinCPA) and Bruce Fenton (Founder & CEO, Chainstone Labs & Atlantic Financial), is entitled ‘Ravencoin: A Peer to Peer Electronic System for the Creation and Transfer of Assets’. It provides much-needed details about the elusive Ravencoin project which, until now, was shrouded in mystery, as most of its readable material had focussed nearly entirely on x16r, their unique ASIC-resistant hashing algorithm.
Built on a fork of the Bitcoin code, Ravencoin will always be known for its unique x16r proof-of-work algorithm. The new whitepaper does however highlight other distinguishable features of the coin, which include:
A block reward time of one minute, a change in the number of coins issued, but not the weighted distribution schedule and the addition of asset creation and messaging capabilities.”
Also published on a busy Tuesday for the Ravencoin team was their inaugural developmental roadmap. Added to the project’s GitHub (along with the whitepaper) some twelve hours before the official tweet was released, avid Ravencoin fanatics were able to sift through the details of the documents far in advance of the majority of crypto enthusiasts.
Looking at the Ravencoin Roadmap, it appears that it’s been divided into six phases, the first of which has already been completed. The remaining five are, in order: Assets, Rewards, Unique Assets, Messaging, and Voting.
If not already a coming-of-age day for the Ravencoin Project, they also relaunched discussion threads in both The Bitcoin Forum and Discord. Moreover, $RVN was listed on little known Hungarian crypto exchange, ICQBASE; paired with both Bitcoin (BTC) and Litecoin (LTC). The coin is currently listed on CryptoBridge and Nanex, with the former accounting for ~98 percent of trading volume at the time of writing – per CoinMarketCap.
In case you missed it, CryptoCoinSpy previously covered Ravencoin (RVN), after it was put on the map by prominent “long-time crypto enthusiast” Patrick Byrne (CEO, Overstock) in an interview. Upon closer inspection, it became apparent that the Ravencoin project had more or less conducted a ‘silent launch’; prompting some to be critical of what appeared to be a pre-mining scheme.
Image From Shutterstock