A Look at the Ravencoin Token Issuance Blockchain
The next-generation blockchain platform, Ravencoin continues to gain momentum in the marketplace. The blockchain represents a shift from traditional chains over to a more security token-centric approach. As such, Ravencoin provides a compliant enterprise-grade security token issuance solution for firms seeking more out of their blockchain.
The Ravencoin blockchain is an open-source protocol that provides users with a plethora of new and exciting features directed at corporate users. For one, the platform features an easy-to-use interface. In fact, once registered, the interface allows for the issuance of tokens in under a minute directly from the Ravencoin-Qt wallet.
Ravencoin developers entered the market with the goal to tackle problems faced by today's token issuance platforms. Security tokens require adherence to strict guidelines in order to remain within compliance. As such, firms must ensure that the technology they use covers all aspects of the current regulations regarding legally compliant token offerings.
In order to guarantee Ravencoin users fulfill these obligations, developers set out to create a new kind of blockchain, specifically designed to handle these tasks. To make their efforts a reality, developers focused in on nine main areas of concern. Here is a look at some of Ravencoin's most important features.
As with any token issuance platform, smart contracts allow issuers to preprogram compliance mechanisms directly into a token's protocol. These requirements must be met by token holders prior to any actions. Importantly, these rules are set by the issuer and enforced by the distributed code. Notably, issuers can create coding that changes over time by labeling their token re-issuable. This is a powerful tool because, in many instances, companies may want to remove certain requirements after a specific time period passes. In most cases, this function would remove “accredited investors only” after a pre-programmed time period. In turn, this allows multi-round investment strategies to operate in a seamless manner.
Tags – Ravencoin
Tags are another cool feature the platform brings to the market. In essence, Tags allow issuers to keep certain assets restricted to only those addresses that are properly tagged. This feature ensures that all token holders have met predetermined criteria. These criteria can include KYC, accreditation, affiliation, as well as, limits on the number of addresses allowed to participate in the event.
Ravencoin also provides high-level KYC services to issuers. In order to accomplish this task in a consistent manner, Ravencoin integrated its system with Finclusive. This integration provides Ravencoin with the highest levels of KYC/AML/OFAC. So much so, that the company intends to offer these services as a standalone product moving forward.
As a compliant-focused blockchain Ravencoin has a host of features designed to meet these challenges. Freeze is one of these features. This product allows issuers to freeze the assets of a nefarious token holder. This protocol is a compliance requirement set out in the new Rule 144. Additionally, this service allows issuers to restrict stock based on asset type or a specific address.
Memos is another compliant mechanism that is unique to Ravencoin. This feature allows issuers to transfer, freeze, or tag notes to an asset. These notes save as metatag data within the transaction. As such, these notes allow issuers to do things such as specify court orders or other important token life cycle changes.
Dividends or Payments
Ravencoin users never have to worry about timely dividend payments. The platform features an automated payment system. This system can handle a huge variety of payment strategies to suit your business's particular needs. These payments can include profits, royalty stream, or contractually obligated payments.
Another awesome feature Ravencoin developers included was a voting mechanism. In instances such as equity tokens, users gain voting rights. Ravencoin users can exercise these rights directly within the platform. In this manner, the entire process becomes streamlined.
Lastly, Ravencoin users enjoy a robust messaging service. This feature is primarily used to inform token holders of upcoming changes or other relevant information regarding their investments. Importantly, this information can include updates on when, and what topics, are up for the next vote.
The Ravencoin project entered the market in January 2018 with the goal to service enterprise-level security token issuers. Importantly, the platform's developers started with a code fork of bitcoin version 0.15.99. Despite being a code fork, Ravencoin developers created their own consensus mechanism – X16. This development was huge at the time because it enabled Ravencoin developers to avoid a situation in which ASIC miners dominated the blockchain.
In July 2019, the firm announced a change to the algorithm. The decision to change came after developers saw that ASIC miners were in use on the X16 algorithm. The new mechanism was named X16R and involved adding an extra hashing algorithm to the equation. This randomization halted the use of ASIC mining on the blockchain for the time being.
Notably, the Ravencoin project's development team received funding from Overstock.com subsidiary Medici Ventures. As such, the Overstock CEO at the time, Patrick Byrne did many interviews describing why the new platform was a real game-changer in the market.
Today, the platform has numerous strategic partnerships within the sector. These partnerships cover the gambit of the token markets ranging from KYC partnerships, all the way to virtual reality arcade providers such as LoftVR.
RVN Tech Data -Ravencoin
The Ravencoin blockchain features a one minute block time. The block reward for miners is currently 5000 RVN. Notably, 21 billion RVN in total will see the market. Also, the next reward halving schedule is set at block 2,100,000.
Ravencoin – A Next-Generation Security Token Blockchain
A quick glimpse at Ravencoin reveals the extent to which developers went to create a security token specific blockchain. This platform provides the features required in a digitized economy. You can expect to hear a lot more about this blockchain as more firms turn towards its easy-to-navigate systems to better their tokenization experience. For now, Ravencoin represents a hard shift towards security token only blockchains.