Ravencoin — New Features

Ravencoin Update — 2020–02–17

Tron Black
Feb 17 · 3 min read

BLUF: Five major features smoothly activated on mainnet and several of the features assist in legal STO issuance. OKEx, a large Asian exchange is adding RVN trading on Feb 19th. New Ballet Wallet (a Multi-currency Non-electronic Physical Wallet) will be produced for Ravencoin. Algo swap work and research are ongoing. Tagging of Ravencoin addresses with a #KYC tag can solve a real problem in the tokenization space — a vast improvement over whitelisting ETH addresses.

— — — — —

On Friday, February 7th at 6:15 EST on block 1092672, and just fifteen minutes before the beginning of Satoshi Roundtable, the Phoenix update of Ravencoin went live on mainnet. It took almost a month to activate. It used BIP9 activation which waited until 85% of the mined blocks were using the new software. Then at a boundary where the block height is evenly divisible by 2016, it triggered, and then 2016 blocks later, it activated. The activation went smoothly so Tags, Restricted Assets, Memos, Messaging, Dividends and 32-byte txid compatible meta-data all went live.

— — — — —

On Feb 19th, OKEx is adding RVN trading. OKEx is not available to US customers, and amusingly the US and its territories are lumped in with questionable regions like Iran, and North Korea. This is likely to bring awareness of Ravencoin to entire new segments of the globe, which is great. OKEx is providing the marketing budget for the awareness campaign and incentivizing RVN deposits. An AMA takes place tonight (Feb 18th at 3am).

— — — — —

Ravencoin being added to Ballet Wallet. The Kickstarter passed the $7000 threshold. Tron agreed to cover any shortfall between 200 units and the needed 500 units for the project to be viable for Ballet Wallet to make a custom Ravencoin card with a native Ravencoin address, and add RVN to the mobile software.

— — — — —

Work is ongoing to test various alternative algos for mining Ravencoin. A large contingent of GPU miners would like another algo swap. A robust discussion is ongoing on Discord in the #algo channel. Several algos have been tried with benchmarking. Some will not work because they are too slow for validation.

— — — — —

KYC Transitivity can solve the KYC problems the crypto and tokenization industry has for STOs. The tagging system that went live on Feb 7th can provide proof of KYC being held without putting Personally Identifiable Information (PII) on the blockchain. The same security and consensus mechanism that secures Bitcoin and Ravencoin can prove that a trusted entity is holding the necessary info. The Ravencoin platform’s Restricted Assets can honor tags automatically to prevent movement of tokens to unknown crypto addresses for on-chain compliance. This is a vast improvement over whitelisting ETH addresses in smart contracts. Want to be a qualifier? Read how the tagging system works…

Tron Black

Written by

Freedom advocate, crypto developer, businessman, entrepreneur, and lead dev for Ravencoin — a top crypto-currency and asset issuance platform.

More From Medium

Welcome to a place where words matter. On Medium, smart voices and original ideas take center stage - with no ads in sight. Watch
Follow all the topics you care about, and we’ll deliver the best stories for you to your homepage and inbox. Explore
Get unlimited access to the best stories on Medium — and support writers while you’re at it. Just $5/month. Upgrade