Ravencoin is a proof-of-work (PoW) blockchain that facilitates the issuance of tokens and is a promising alternative to Ethereum and other token-capable chains. Ravencoin crypto tokens are used for a wide range of purposes, including representing NFTs (non-fungible tokens) and real-world assets. Although Ravencoin’s design and concept are fairly similar to Bitcoin, their total supply, propriety mining algorithm, and block rewards are optimized for efficient token transfers and decentralization.
The blockchain allows anyone to issue tokens on the network as long as the main purpose of the token is to be transferred.
Ravencoin mining is possible, as it functions on the PoW system, but with its own mining algorithm, X16R, making mining much more profitable for industrial-scale operations.
Users can create assets that represent real-world assets, such as shares of stock, rewards, gold, or also NFTs.