Ravencoin Update – 2021-08-25

Ravencoin Update – 2021-08-25

Raven Trader – On-chain atomic swaps

What is an atomic swap? It's a swap that can't fail halfway. In just about any eCommerce transaction, there is the potential for failure. Say you buy something from an online store like Amazon, and they charge your card, but never ship anything to you. That's a failure. In this case, you can call Amazon or Visa and fix it. With crypto, you can't call crypto, so it's even more important that the transaction not work halfway. With an atomic swap, it succeeds or fails, but never halfway. It can't be split. That's what atomic means (or it used to before they found out that atoms were composed of even smaller pieces called quarks).

Check out RavenTrader.net which lets you post a partially-signed transaction. If someone agrees to your offer and signs the other part, then the transaction is submitted to the network where it succeeds or fails atomically. Hint: It almost always succeeds. What could make it fail? If someone (you or the other party) has already spent the RVN or token already in a different transaction, or if there is a bad signature. But, it will never fail halfway!

NFTs

Check out RVNBay.com with listed NFTs from a variety of artists. It supports multiple storefronts and worth checking out. Ravencoin is especially well-suited to creating NFTs. With an NFT creation cost under $1, a guaranteed unique name, and the ability to attach a counterfeit-proof token to any type of file stored in IPFS, Ravencoin is the perfect NFT platform. RVNBay.com uses RavenTrader.net

Coinbase and Kraken Update

Ravencoin (RVN) is ready to be listed. Ravencoin is not a security and is one of the cleanest projects to ever launch. It is very liquid and it regularly trades $100,000,000+ each day across various sites. The required Rosetta API has been completed and the devs have collected the development bounty. I'm often asked when RVN will be listed. Everything is ready to go. It's time to ask Coinbase.

Mining Update

Ravencoin uses proof-of-work mining. It is specifically designed to be mined by GPUs which are usually found in gaming computers. This means anyone not gaming with their computer, can switch it over to mine RVN. It is usually the 2nd most profitable coin to mine (after Ethereum), and recently it is occasionally #1 as Ethereum started burning fees instead of giving fees to miners. And as Ethereum completes its planned shift to proof-of-stake, RVN will probably be the big winner. Check out YouTube videos by BitsBeTrippin for more info.

Security Audits

The security audit for the P2SH upgrade is complete and available for your review. An additional security audit will be done for the other upgrades for the new release.

Ravencoin Ecosystem Status

The Ravencoin ecosystem is composed of many sites, many mining pools, many participants, many explorers, many exchanges, many wallets, many swap sites, and many RVN merchants. Ravencoin, the network, runs 24x7x365, and the ecosystem is distributed. If you find part of the ecosystem isn't working for you, you can check to see if it's temporarily down at https://status.ravencoin.foundation where these sites are monitored for their uptime.

Ravencoin Foundation (links)

The bottom of every page at the Ravencoin Foundation has links to various sites that support the Ravencoin ecosystem. If you have a project that should be on the footer, e-mail info@ravencoin.foundation

Digital Signature(s)

The final Windows binaries will be digitally signed and will be published on ravencoin.org and referenced by the Ravencoin Foundation.

Public Service Announcement

There have been several scams that purport to be Ravencoin upgrades. Check with several sources before upgrading. There will be an upgrade but it will be announced in many places (Twitter, Discord, Reddit, this newsletter, ravencoin.org, ravencoin.foundation). Do not fall for the fake announcement as it is probably a wallet stealer. The most common fake is a Discord direct message.