Ravencoin (RVN) is a fork of Bitcoin that happens to make transactions easier. It employs the KAWPOW algorithm, which is effective. That, in turn, makes it resistant to ASICs and helps to prevent centralization. Because of Ravencoin’s significant profitability, many individuals are converting to mine it. Ravencoin is frequently included among the most profitable coins. It’s also completely free and open-source, with no IOC.
Ravencoin is an open-source project based on a fork of the Bitcoin code that came up on January 3, 2018. This is an interplanetary file system (IPFS). The communications turned this cryptocurrency into a specialist in the transmission of unique assets.
Its primary goal is to make the creation and transfer of assets from one entity to another. It is quite an efficient method of fund transfer and hassle-free too.
The project has many notable sponsors, including Bruce Fenton, a member of The Bitcoin Foundation. And, unlike most other businesses in the crypto sector, he did not conduct an ICO to raise funds. He did it instead of relying on a multi-million dollar investment from Overstock.
How To Start With The Process?
Ravencoin (RVN) is a fork of the Bitcoin code that is based on the proof-of-work (PoW) algorithm. It is created using the Bitcoin Unspent Transaction Output (UTXO) paradigm.
RVN was based on the x16R2 algorithm. It has started a new mining algorithm called KAWPOW (derived from ProgPOW and eth hash). It tries to tackle the problem of mining centralization by harnessing GPU. Besides, it also processed capabilities after its fork on May 6, 2020.
This is why Ravecoin is immune to ASICs. This means it can only be mined using GPUs, making Ravencoin mining accessible to most people. To put it in other terms, everyone has the same chance to mine or acquire RVN.
Ravencoin’s Distinguishing Characteristics
These are the distinguishing characteristics that make Ravencoin an intriguing initiative. No wonder it is the world’s 52nd largest cryptocurrency. Ravencoin is a network that allows you to generate and sell real-world assets. The prime examples are gold bullion and property titles, as well as digital assets. ASIC with high resiliency (uses KAWPOW hashing algorithm to discourage ASIC hardware development). To ensure that everyone has an equal opportunity to mine or buy RVNs, no tokens at launch. There will be no pre-mining and no initial coin offering. Also, there are no developer or founder currencies or perks. It’s completely open-source and community-driven.
If you want to know how to mint Ravecoin, the first step is to select a computer that will make extracting this token easier. That is to say; you will need to select hardware for your PC to begin mining RVN.
Software To Be Put To Use
- Bitnovo recommends the Ravencoin mining software listed below:
- T-Rex Miner may be utilized with Nvidia graphics cards and supports over 30 algorithms. You can try out the xyo to bnb exchange as a demo.
- Gminer is a popular Ravencoin mining software that works with both Nvidia and AMD.
- TeamRedMiner is a program for AMD GPUs that supports a variety of algorithms. One of its characteristics is more excellent mining modes (B/C modes) that employ additional VRAM on GPUs for increased profitability.
- KawPowMiner is a mining program for RVN that runs on AMD and Nvidia GPUs.
- NBminer is a solo mining application for Nvidia GPUs. NBminer is compatible with 14 different algorithms, including KawPow.
Should You Mine It Alone?
As you may be aware, when mining a cryptocurrency, you have the option of going it alone or joining a mining pool. If you want to mine by yourself, keep in mind that earning rewards will take more time and effort. Joining a mining pool will make it faster and easier to gain rewards. But you will have to share them with the other pool members.
Which Wallet To Use?
When it comes to Ravencoin mining incentives, you’ll need to keep the tokens. Hence you earn in an RVN compliant wallet. Even though you have several options, we recommend using the official wallet.
The RVN team has designed a native wallet app. The software requires no registration and connects directly to the Ravencoin network. It helps in preventing developers from accessing your funds. There is also a desktop version of this software, which may be used for mining.
Now that you know about the ways in which you can start mining Ravencoins with PC, you should not have any problems anymore.