Ravencoin Price Prediction: How Much Will Ravencoin Be Worth in 5 Years?

Ravencoin is a peer-to-peer blockchain designed to allow the efficient creation and transfer of assets between users. The Ravencoin protocol is based on the fork of the Bitcoin blockchain and has specific features that allow the creation of the tokens. The main purpose of the network is the transfer of the assets and even though it allows swapping for other tokens it’s not its main purpose. 

Ravencoin was founded in January 2018. It is an open-source project with Proof-of-Work rewarding mechanism. It was named as a reference to the Game of Thrones. The project features four main differences from Bitcoin: the issuance schedule (with 50,000 block reward), reduced to 1 minute block time, 1000 times bigger total coin supply, and modified mining algorithm. 

The project doesn’t have an established development team and is led by the core crypto enthusiasts: RavoncoinDev, Tron, and Chatturga with Bruce Fenton, the Board member of Bitcoin Foundation advising the project. The project went live with a fair launch: without ICO, pre-mine, or masternodes. Shortly after that, the CEO of Overstock Patrick Byrne confirmed that the company made a multi-million investment in the asset. 

The team since then has been working on the functionality of asset support and rewarding mechanisms. Ravencoin aims to solve the issues with asset transfer and trading on the Bitcoin blockchain. For instance, before that, the assets created on Bitcoin could have been accidentally destroyed if the user-traded the coins they were created with. 

RNV token is a native asset of the blockchain that has to be burnt to issue tokens on the Ravenchain. The assets can represent anything from real physical objects like gold or fiat money to virtual assets or shares, securities or stock, wage time, etc. By December 2021, 49,3% of the tokens from the 21 billion total supply have already been mined.