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Ravencoin Core: How to install and configure the RVN Wallet

The official and recommended wallet for Ravencoin is the Ravencoin Core wallet. It is an open-source wallet that is available for Windows, Mac and Linux. The Raven core qt wallet is similar to the Bitcoin core wallet, except that the RVN wallet has some additional features such as creation/transfer and asset management.

Ravencoin is an experimental digital currency that allows anyone anywhere in the world to make instant payments. The Ravencoin platform also allows anyone to create assets (tokens) on the Ravencoin network. Assets can be used for NFT, STO, gift cards and fractional ownership of anything of value. Ravencoin uses peer-to-peer technology to operate without a central authority: transactions are managed and money is issued collectively by the network.

The goal of Ravencoin is to implement a blockchain optimized specifically for use in transferring assets, such as securities, from one owner to another. Based on extensive experience with Bitcoin development and testing, Ravencoin is built on a fork of the Bitcoin code. Key changes include faster block reward times and a change in the number, but not the weighted coin distribution schedule. Ravencoin is free and open source and will be released and mined transparently, without pre-mining, distribution to developers or any other such delays. Ravencoin is intended to prioritize user control, privacy and resistance to censorship, and to be jurisdiction-independent, allowing users to use simple additional features at will based on need.

Blockchain is a ledger that shows the value of something and allows it to be transferred to someone else. Of all the possible uses of blockchain, reporting on who owns what is one of the main uses of the technology. This is why bitcoin is the first and most successful use of blockchain technology today.

The success of the Ethereum ERC 20 token shows the demand for tokenized assets using another blockchain. Tokens have many advantages over traditional shares or other participation mechanisms, such as faster transfers, perhaps increased user control and resistance to censorship, and reduced or eliminated need for trusted third parties. Bitcoin also has the potential to serve as a token rail through projects such as Omnilayer, RSK or Counterparty. However, neither Bitcoin nor Ethereum were specifically designed to facilitate ownership of other assets.

Ravencoin is designed as a use case blockchain, designed to efficiently process one specific function: the transfer of assets from one party to another.

Bitcoin has always been and should always be focused on its goal of being the best form of money. Bitcoin developers are unlikely to prioritize improvements or features that specifically facilitate token transfer. One of the goals of the Ravencoin project is to see if blockchain and use-case-oriented development can produce code that either improves existing structures like Bitcoin or provides use-case benefits.

In the new global economy, borders and jurisdictions will become less important as more assets become available for trading and trading across borders becomes more seamless. In an era when people can move significant amounts of wealth instantly using Bitcoin, global consumers are likely to demand the same efficiency for their securities and similar assets.

For such a global system to work, it must be independent of regulatory jurisdictions. This is not due to ideological beliefs, but to a practical point of view: if the rails for asset transfers via blockchain are not censor-resistant and jurisdiction-independent, any particular jurisdiction could come into conflict with another. In legacy systems, wealth tended to be in the owner’s jurisdiction and therefore easily controlled under the policies of that jurisdiction. Because of the global nature of blockchain technology, any ability to control wealth at the protocol level would potentially put jurisdictions in conflict and prevent them from acting fairly.

How to install Raven Core and set up a wallet

Step 1 – Download the Raven Core Installer:

Go to https://ravencoin.org/ and click on “Get Wallet”

Step 2 – Download the installer:

On the download page, find the installer for your computer, in our case the installer for Windows.

Step 3 – Run the installer:

Find the installer you just downloaded and run it. If the Windows SmartScreen window appears, just click “Run Anyway”.

Step 4 – Complete the installation:

click the “Next” button on the first page.

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If you don’t want to change the installation directory, just click Next to continue. On the next screen, click Install. The installer will run for a few minutes, when it’s finished click Next.

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The installation is now complete. Click Finish.

Шаг 5 – Creating a wallet Raven

Launch the Raven Core app you just installed. As with other wallet programs, you will need to download the blockchain data and sync it. This can take up a lot of space, so make sure you choose a location with enough storage space. When you are done, click OK.

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On the next screen, click Generate to create a new wallet recovery phrase. If you wish, you can set a password for it. Be sure to write down the recovery phrase and password and keep them in a safe place. Once you have generated the phrase, you can click Import to continue.

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Step 6 – Wait for synchronization

Now that the software is set up and the wallet is created, you have to wait for it to download the blockchain data so that you are in sync with the network. This may take some time. After that you can start sending and receiving Ravencoin!

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If you don’t have Ravencoin yet, check out Dutchy Final AutoFaucet where you can earn some! Also, stay tuned for my next article where I show you how to mine Ravencoin.