SFOX, a prime cryptocurrency exchange, announced today users can now trade Ravencoin (RVN). SFOX allows traders to access all major venues for trading RVN from a single account and route buy and sell orders intelligently to the venues with the best available trade execution.
As of publishing, Ravencoin is the 40th largest cryptocurrency by market capitalization, valued at just under $184 million. RVN joins BTC, ETH, LTC, BCH, ETC, and BSV on the SFOX platform.
RVN is the native currency of the Ravencoin blockchain, which has the goal of making digital asset management and issuance simple and scalable. Forked from Bitcoin’s codebase and launched on January 3rd, 2018, this blockchain allows users to define, hold, trade, and issue their own assets with whatever properties they want.
- Assets can be fungible or non-fungible
- Assets can be scarce or unlimited
- Assets can be unregulated or programmed to abide by applicable regulations (e.g., U.S. securities laws)
RVN functions a little like gas does on Ethereum for ERC-20 tokens: users burn RVN for asset creation (between 500 RVN and 3000 RVN, depending on the asset type), and they pay fees in RVN for asset transfer. RVN can also be used as a simple method of value transfer, like cash or bitcoin.
As a project, Ravencoin is also known for prioritizing decentralization: it claims no central leadership, it doesn’t presently have any kind of supporting foundation, and its mining algorithm, X16R, is designed to be ASIC-resistant in order to allow anyone to reliably mine RVN.