Ravencoin & CoinEx AMA Recap

Creating inspiring value with Ravencoin! This Tuesday evening, we had an awesome time with Ravencoin. From all the genuine questions we’ve collected, we’ll take them into consideration. (some questions may be edited slightly for grammar and readability.)

Let’s do this!

Q1: How far is the progress for Q3, Q4 2019 roadmap?

The roadmap is coming along nicely. The big push right now is for Tags and Restricted Assets. That should go on testnet this week.

It will need lots of testing because it is a big change.

The Rewards/Dividends is being worked on by @Maldon (Discord). It shouldn’t affect consensus so is a safer change.

Q2: Can you explain the advantages of the X16R algorithm? I don’t understand the difference between this algorithm and bitcoin

It serves two purposes.

1. The algorithm is more difficult (not impossible) to build ASICs. This goes along with the spirit of Ravencoin for everyone to participate.

2. It was a divergence from the existing algorithms which could have dominated the Ravencoin distribution in the early months. This way it was a fair launch. We added mining back into the code so CPUs could mine. That lasted about a month before GPUs were the preferred mining method and pools arrived on the scene.

Q3: What can we expect about project developments by the end of 2019?

We hope to have Tags and Restricted assets going, and Dividends/Rewards. We will likely be working on Voting which is similar to existing tokens but with an expiration date so that vote tokens don’t have to live in the UTXO set forever.

Q4: What makes you different from other community backed-up coins?

We have both a community and a pretty unique set of features and capabilities. Rather than re-hash those here, I’d recommend reading about assets, and IPFS metadata using the links in the intro.

Q5: Why using Raven as the name, is there a story or just a flash of minds?

The name came from Bruce Fenton. I really should know the genesis of why the name. This is the second time I’ve been asked that question, and I don’t have a great answer, but it has been a great name with amazing imagery and backing mythology of the Raven.

Q6: Raven is dangerous and clever. Is it like your project?

Yes. Both dangerous (to the status quo), and clever.

Q7: As an open source project, is there an estimated number of RVN developers from the whole community? Facebook just launched the Libra, I think more and more developers will get involved in the crypto wonderland.

I don’t know the number of developers. That’s sort of the beauty of it. There are projects going on that I just found out about. Nobody has to ask us for permission. This is open. Only pull requests (PR) to the core code are vetted for following the vision and safety.

Q8: Hi Tron, what’s your thought about the whole cryptocurrency world?

Benjamin That’s a big open-ended question, and I could go on for hours. And usually do, much to the panic of my dinner guests. I think there will be lots of tokens, assets, and coins. I think they’ll all work together in varying degrees through exchanges, peer-to-peer, and DEXs. The ecosystem will continue to grow.

I liken it to how news used to be. Controlled by a few newspapers, and a few TV shows, but now anyone with a blog or a twitter account can be on the scene and be a one-man news reporter. Now that value moves like e-mail, there are all kinds of experimentation that can take place. With some large anchors like BTC.

Q9: Will you consider adding Chinese services?

Benjamin Would love to have Chinese services, but that’ll be up to the Chinese community. The core team is small and focused on core capabilities.

Q10: Is there any landed project based on RVN right now?

There are several projects. An early project is Vinsent which is tokenizing wine futures. Buy wine futures while the wine isn’t yet drinkable and is aging in the barrels, then trade them, or redeem them. https://www.vinsent.wine/

I’ve had conversations with several groups that want to tokenize real estate. Vinsent is an example of a tokenized product.

Q11: In your Whitepaper, you stated Use of Assets could be represented as real-world custodian physical or digital assets to tokens. Also, refer to the use of Assets, you’re mentioning about virtual goods and credit. Has any of them being developed at this stage?

I’ve had conversations with several groups that want to tokenize real estate. Vinsent is an example of a tokenized product.

Q12: Will there be a fork coin in the future?

Probably. That isn’t in our control. We’ve made the source code available to everyone. Currently, I think it would be in the best interest of someone with dev skills to buy RVN, and then contribute mightily to the project.

Q13: Is there any instruction of mining RVN?

Most of the mining pools will give you direct instructions on how to mine, and link to mining software. https://ravencoin.org/pools/

Q14: What is vinsent?

Tokenized wine futures. Pre-buy wine when it is in the barrel. https://www.vinsent.wine/

Underlying Vinsent is Ravencoin asset tokens.

Q15: Can we use RVN for online shopping in the next coming days, like BCH?

Yes. You can do that now. Last week Coinpayments.com added RVN support, so thousands of merchants can add RVN as a payment method to their store with just a checkmark. And if you want a crypto payment gateway you can use Coinpayments.com to accept many cryptos — including RVN.

Q16: Can you tell us more details Unique Tokens feature? I saw it in the whitepaper.

They are most like ERC-721 tokens. Unique tokens for which there is guaranteed (by the protocol) to be only one. These can be created as certificates-of-authenticity. As an example, a token could be created for each unique art piece and the expectation (documented) that the owner of the art piece should own the token. Sell the art piece, transfer the token. It helps prevent knock-offs.

Q17: What’s the relationship between Overstock and Ravencoin?

Overstock.com owns Medici Ventures — a crypto venture firm. Medici Ventures supports Ravencoin by allowing some of the developers to work on the project. I’m one of those fortunate developers. And I also help the other Medici Venture portfolio companies when needed.

Q18: Wow, that’s superb. Perhaps airline ticket booking or real-estate could be one of the scenarios?

We’ve had conversations with one of the largest airlines. There are some conflicts in that they don’t always want their airline miles tradeable for $, RVN or BTC.

Q19: Which exchanges can buy RVN?

CoinEx, Binance, Bittrex, Vertbase, Spend.com, and more keep coming.

Q20: RVN is a fork of BTC code, does this mean it is related to BTC to some degree? What makes RVN distinguished from ETH or other decentralized chains?

It is more like BTC in that it is originally a code fork of BTC. It is more like ETH, in that you can issue, and transfer assets like ERC-20, ERC-223, and ERC-721 tokens. It is the best of both.

Q21: Will there be a meet-up in Germany?

I hope so. I’m in Amsterdam now for the EU Ravencoin Meetup happening tomorrow. It would be up to the Ravencoin fans in Germany to set one up. I hope there are Ravencoin meetups everywhere. To be clear, the Ravencoin core team isn’t doing the EU Ravencoin Meetup, but generous community contributions are allowing me to attend and speak at the meetup here in Amsterdam.

Q22: Will you distribute dividends?

The dividends are not RVN dividends for holding RVN. It is a technical capability that allows you to pay Rewards/Dividends to holders of your token in RVN. Or pay Rewards/Dividends in your token to holders of the same token.

Q23: It would be great if we could see some positive ads on the bus, Metro or coffee shop. Would you consider applying more payment methods for using RVN for the local shops?

All great ideas. As RVN grows in community, and market cap, these things are all possible. It is most like BTC in that way. There are no corporate interest controlling it, just passionate community members that see the vision and jump in.

Q24: Can we buy RVN specialized hoodies? Will there be a free giveaway in the future?

Try Ravencoin.shop for hoodies and merchandise.

See you next round, stay tuned! 😎