Ravencoin is a digital peer-to-peer (P2P) network that aims to implement a use case specific block chain, designed to efficiently handle one specific function: the transfer of assets from one party to another. Built on a fork of the Bitcoin code, Ravencoin was announced on Oct. 31, 2017 and released binaries for mining on Jan. 3, 2018 with what is called a fair launch: no premine, ICO or master nodes. It was named in reference to a TV show Game of Thrones.

As a fork of the Bitcoin code, Ravencoin features four key changes: modified issuance schedule (with block reward of 5,000 RVN), block time reduced to one minute, coin supply capped at 21 billion (a thousand times more than BTC) and a mining algorithm (KAWPOW, formerly X16R and X16RV2 respectively) intended to mitigate the centralization of mining caused by ASIC hardware.

Ravencoin aims to solve the problem of assets transfer and trading over block chain. Previously, if someone created an asset on the Bitcoin block chain, it could be accidentally destroyed when someone traded the coins it was created with.

RVN coins are designed as internal currency within the network and must be burnt in order to issue token assets on the Ravenchain. The assets can represent anything: real world custodial objects like gold or physical euros, virtual goods and objects, a share of a project like stocks and securities, airline miles or an hour of someone’s wage, etc.

The planned future versions of Ravencoin protocol will support integrated messaging and voting systems.