Online searches for Ravencoin vs Bitcoin in 2022 are on the rise. To be clear, there’s no competition between these two amazing Proof of Work (POW) blockchains. Bitcoin is the indisputable king when it comes to digital money. Ravencoin serves an entirely different purpose, tokenization.
People in the crypto space are familiar with Bitcoin, as it is the dominant cryptocurrency by far. Most people are also aware that Bitcoin has had many forks, some of which have led to the creation of new cryptocurrencies. Cryptocurrencies that originated from Bitcoin include Bitcoin Cash (BCH), Bitcoin SV (BSV), and Bitcoin Gold (BTG).
What many don’t know is that Ravencoin is also a fork of Bitcoin. As such, Ravencoin inherited many of characteristics of the most dominant chain in the cryptocurrency space. Like Bitcoin, Ravencoin is a peer-to-peer blockchain fully decentralized blockchain.
Why was Ravencoin Created?
As great as Bitcoin is, it wasn’t optimized for creating and transferring assets. Thus, Ravencoin (white paper) was created specifically for the purpose of natively recognizing assets, such as tokens. This means that Ravencoin can handle the creation and transfer of assets at the base layer and without the need for smart contracts. See 13 Best Assets to Tokenize On the Blockchain.
Ravencoin Vs Bitcoin
Let’s do a high-level comparison of these two blockchains. Here’s a Ravencoin Vs Bitcoin chart, as of 2022.
| Ravencoin | Bitcoin | |
| Ticker Symbol | RVN | BTC |
| Primary Use Case | Tokenization | Digital money |
| Launch Date | January 3, 2018 | Jan 3, 2009 |
| Consensus Mechanism | Proof of Work | Proof of Work |
| Blockchain Accounting Model | UTXO | UTXO |
| Total Maximum Supply | 21 billion | 21 million |
| Block Reward | 2,500 RVN | 6.25 BTC |
| Block Time | 1 minute | 10 minutes |
| Block Size Limit | 2MB | 1MB |
| Miners | GPU Miners – ASIC Resistant | ASIC Miners |
| Asset Handling | Asset Aware | Not Asset Aware |
| Other Features | Fair Launch | Fair Launch |
| No Pre-Mine | No Pre-Mine | |
| True Open Source | True Open Source | |
| Not a Security | Not a Security |
For more about RVN, including the block reward schedule see Ravencoin Tokenomics.
The bottom line is that Ravencoin Vs Bitcoin shouldn’t be a thing. Rather, Ravencoin is a fork of Bitcoin. Ravencoin is a decentralized POW blockchain, but created specifically for the purpose of handling digital assets – asset tokenization.
Commonly Asked Ravencoin Questions
How much will Ravencoin be worth in 5 Years
No one can answer this question with any degree of certainty. What is known is that Ravencoin has been successful at becoming a truly decentralized cryptocurrency. This is in part due to its anti-ASIC mining algorithm. A large number of Ravencoin miners are regular people with a gaming computer capable of mining RVN. This has led to the creation of a passionate community that strongly believes in Ravencoin’s tokenomics.
In addition, the use case for Ravencoin is beginning to resonate in the investment space. The market for tokenization is humongous. Few cryptocurrencies are competing for this space, and out of these only Ravencoin handles assets at the base layer, without smart contracts.
Based on this, it isn’t difficult to imagine Ravencoin becoming a top 10 cryptocurrency by market cap within the next 5 years. For that to be the case, Ravencoin would need to be worth about $1.25. That’s 35X based on today’s price.
Will Ravencoin Reach 1 USD?
With cryptocurrencies nearly everything is possible. I’d say that is possible for Ravencoin to reach the 1 USD mark, within the next five years, based on the logic mentioned above.
Is Ravencoin a Bitcoin?
Definitely not. As mentioned earlier, Ravencoin is a fork of Bitcoin that is optimized for handling digital assets.
Should I invest in Ravencoin?
Investing in cryptocurrencies is hardly an investment, but rather a speculation. If you have extra money to speculate with, Ravencoin may be one of the better options at the current prices. See also 10 Reasons to Invest in RVN.
What Makes Ravencoin Special?
What makes Ravencoin special is that it was designed specifically for tokenization. You can tokenize anything, including stocks, real estate, collectibles and more. To my knowledge no other coin was designed specifically for this purpose. See Which Is The Best Tokenization Crypto. For this reason, Ravencoin handles assets extremely efficiently and without the need for smart contracts. As many know, smart contracts can introduce many vulnerabilities that can lead to major losses.
Is Mining Ravencoin worth It?
For most of 2022 Ravencoin has been second in GPU mining profitability only to Ethereum. And in the next few days Ethereum is going to switch from POW to POS. In short, miners all over the world will either cease mining or will switch their rigs to some other crypto. Ravencoin is poised to greatly benefit from this event. That’s because more hashrate will migrate from Ethereum to Raencoin, increaseing the security of the Ravencoin network.
Is Ravencoin an NFT?
No, Ravencoin is not an NFT, but it is arguably the best cryptocurrency to mint and trade NFTs. With Ravencoin, NFTs are handled similarly to transfers of Bitcoin from one wallet to another. This means that with Ravencoin you have true ownership of your NFT, rather than relying on a smart contract that can be modified at anytime by its creator. See Not your keys, not your NFTs.
Why is Ravencoin Going Up?
One of the reasons Ravencoin is going up is because Ethereum is switching from POW to POS. As such, many miners are looking for the next best coin to mine. One of the best and most profitable options is Ravencoin.
Who is the CEO of Ravencoin?
Ravencoin is not a company. Therefore it has no CEO. There’s an insider joke among Ravenites where people claim to be CEOs or people of influence within RVN. But that’s just a joke.
Will Ravencoin go to Coinbase?
In my view Coinbase will have no choice but to list Ravencoin at some point. However, don’t hold your breath. The Ravencoin community submitted all the documentation required for Coinbase and other cryptocurrency marketplaces (i.e. Gemini) to be listed, but for some reason or another that hasen’t happened yet.