Ravencoin was created with the intention of being able to transfer unique assets to one another in a simplified manner. Although with Bitcoin, being able to transfer assets/information through an actual transfer of Bitcoin is permitted, existing Bitcoin nodes are unaware that assets are embedded in the message. This also means that actual Bitcoin must be sent for every asset transaction and there could be cases where the receiving party is unaware of the asset. This makes the asset susceptible to the receiving party accidentally sending those Bitcoins to another wallet and ultimately end up losing those assets. Ethereum, on the other hand, does allow the transfer of assets but is unable to differentiate between assets of the same unique name. Ravencoin’s intention is to create a bitcoin-like system that is fully asset aware.
Tokens on the Ravencoin protocol will be used to facilitate the issuance of unique assets and transfer. Assets or tokens can be used for anything the creator wants them to be. Some examples include, but not limited to, land deeds, car ownership, energy credits, securities, partnership interests, virtual goods, airline miles, etc. Payments, or rewards, can be done through the native token, RVN.
Ravencoin is an experimental digital currency that enables instant payments to anyone, anywhere in the world. Ravencoin uses peer-to-peer technology to operate with no central authority: managing transactions and issuing money are carried out collectively by the network.
The Ravencoin protocol utilizes the BIP9 consensus rules for governance in situations where forks may occur or upgrades are needed.