Ravencoin is a blockchain project focused on building open-source technology for simple issuance and management of tradable assets on a blockchain. It was launched in January 2018 without an ICO, pre-mine, or masternodes, and is built on a code fork of Bitcoin version 0.15.99. Ravencoin is notable for its use of the X16R algorithm for mining, which is a randomized ordering of 16 hashing algorithms to prevent ASIC domination of the network. Ravencoin has since moved to the KAWPOW algorithm to further prevent ASIC domination.

Ravencoin was announced by Bruce Fenton on Twitter and was launched without a central organization. The project has a strong and growing community, and the core team has produced a development roadmap with seven phases.

Ravencoin is used for the simple issuance and management of tradable assets on a blockchain. It aims to provide a decentralized and democratized alternative to traditional financial instruments by enabling the creation of assets that can be traded without the need for a centralized intermediary. Ravencoin has also been designed to be energy efficient and resistant to ASIC domination, which the developers see as a potential threat to decentralization. Ravencoin has gained attention in the crypto space due to its strong community and unique approach to asset issuance and management on a blockchain.