What is Ravencoin
Ravencoin is a fork of Bitcoin that appeared in 2018. Ravencoin inherited the UTXO model and the main features of Bitcoin except for the hashing algorithm.
- Issuance schedule: The Ravencoin mining reward began at 5,000 RVN whereas Bitcoin started with 50 BTC.
- Block time: At one minute, Ravencoin’s block time is one-tenth of Bitcoin’s.
- Coin supply: 21 bln RVN.
- Mining algorithm: Bitcoin implements the SHA-256 hashing algorithm whereas Ravencoin uses X16R. This algorithm prevents ASIC mining.
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