The market’s recent boost saw several smaller market cap coins jet further up the top 100 list. Among this new flock is Ravencoin (RVN)R, a heavily altered Bitcoin fork from 2018. Holding a triple-digit percent rally, RVN appears to be feeling the early impact of a rumored Coinbase listing. The Coinbase Effect is a well-known value multiplier for new assets, and the addition of Ravencoin would likely boost the price even higher. For now, the listing remains a rumor.
Despite the lack of solid listing date, Ravencoin continues to establish a greater market share in the tokenization of real-world assets. One of the most direct use cases of blockchain technology lay in the creation of verifiable shares of physical assets, or the division of previously indivisible asset classes. Ravencoin ostensibly exists for this purpose – although its ASIC-resistant nature makes it useful for a variety of purposes.
An ASIC Resistant Fork of Bitcoin
The first Bitcoin miners used mostly GPU-based equipment – turning the power of their graphics cards towards the complex algorithm that powered BTC’s blockchain. As time went on, highly specialized ASIC mining equipment made it difficult – if not impossible – for small-scale miners to turn a profit. Ravencoin’s solution is in the form of their KawPoW algorithm.
KawPoW is the third algorithm put in place for Ravencoin, and officially the last. Using an ASIC-resistant algorithm allows small-scale miners to use their GPU-based equipment to mine RVN. In turn, this results in greater decentralization – rather than a handful of high-powered miners. Yet, Ravencoin recently suffered from the fraudulent creation of RVN. As a result, the total supply of RVN will be slightly higher than originally planned.
The process of tokenization allows for new investments that would not have been possible before the advent of blockchain technology. Rather than a single entity owning an object of art, tokenization allows for ‘shares’ like those used by traditional businesses. Ravencoin currently supports a variety of assets, including the upcoming tokenization of single-family homes in Wisconsin.
Alongside a local real estate developer and Hydra Chain Technologies, Ravencoin will support tokenized ownership of houses in River Falls, WI. This opens an avenue for smaller-scale investors to get involved with lucrative real estate deals – opening an avenue for average people to gain profits from otherwise costly investments.