Golem Network is an open-source, decentralized computing platform. A peer-to-peer marketplace for distributed computing resources. Users engage directly on the Golem platform, exchanging GLM tokens for the utilization of their idle computing resources. Golem allows to break down tasks into smaller subtasks and distribute them across multiple providers, enabling parallel processing. This approach boosts efficiency and speeds up the completion of complex computations.

Enjin Coin can be purchased on [cryptocurrency](https://coinmarketcap.com/alexandria/article/what-are-cryptocurrencies) exchanges such as [Binance](https://coinmarketcap.com/exchanges/binance/), [Bithumb](https://coinmarketcap.com/exchanges/bithumb), [Uniswap (V2)](https://coinmarketcap.com/exchanges/uniswap-v2) and [Balancer](https://coinmarketcap.com/exchanges/balancer), among others. It can be traded against fiat currencies such as the U.S. dollar and the euro, cryptocurrencies such as [Bitcoin](https://coinmarketcap.com/currencies/bitcoin) and [Ether](https://coinmarketcap.com/currencies/ethereum), and [stablecoins](https://coinmarketcap.com/alexandria/article/what-is-a-stablecoin) such as [Tether](https://coinmarketcap.com/currencies/tether/) (USDT) and [USD Coin](https://coinmarketcap.com/currencies/usd-coin) (USDC). It can be bought and sold on both spot and derivatives markets. Are you interested in buying ENJ or other cryptocurrencies such as [Bitcoin](https://coinmarketcap.com/currencies/bitcoin)? CoinMarketCap has a simple, [step-by-step guide](https://coinmarketcap.com/how-to-buy-bitcoin/) to teach you all about crypto and how to buy your first coins.

Enjin Coin is an ERC-20 token issued on the Ethereum blockchain, meaning that any on-chain ENJ transactions are validated and secured by the Ethereum network using a [proof-of-work](https://coinmarketcap.com/alexandria/article/proof-of-work-vs-proof-of-stake) [consensus](https://coinmarketcap.com/alexandria/glossary/consensus) algorithm. Miners compete among each other to add new blocks to the blockchain and a majority of all nodes in the network must confirm a record for it to be posted. The underlying smart contracts that power Enjin Coin have undergone several audits, including by Ethereum developer Matthew Di Ferrante in [September 2017](https://medium.com/@enjin/enjin-coin-receives-successful-audit-from-ethereum-foundation-dev-vanbex-group-dec5b2c3ddb4), smart-contract auditor and developer ZK Labs in [early 2018](https://blog.enjin.io/quarterly-report-q1-2018/), and Castillo Network in [July 2019](https://github.com/EthereumCommonwealth/Auditing/issues/308#issuecomment-508447337). In October 2020, Enjin [launched](https://hackerone.com/enjin?type=team) a bug bounty program via information security company HackerOne.

Enjin Coin has a fixed maximum supply of 1 billion tokens. However, as the ecosystem grows and more ENJ is locked into in-game digital assets, the number of coins actually circulating will decrease. Enjin Coin was first made available for purchase during a presale event in September 2017 in which 400 million ENJ was [sold](https://blog.enjin.io/enjin-coin-pre-sale-sold-out/) for a total of 38,800 [Ether](https://coinmarketcap.com/currencies/ethereum) (ETH), worth $12 million at the time, with another 100 million ENJ given away as bonuses. In total, the presale sold and gave away 50% of the total supply. An [initial coin offering](https://coinmarketcap.com/alexandria/glossary/initial-coin-offering-ico) was held in October 2017, with 300 million ENJ — 30% of the total supply — available for sale. The ICO [raised](https://blog.enjin.io/enjin-coin-ico-success/) 75,041 ETH, [worth](https://forum.makerdao.com/t/enj-mip6-mcd-application-enjin/2639) $18.9 million at the time. Tokens that were not sold during the ICO were locked for six months to be later used for community initiatives and marketing. 10% of the total token supply was [reserved](https://cdn.enjin.io/downloads/whitepapers/enjin-coin/en.pdf) for the company for community initiatives, beta testing, marketing and strategic partnerships, while another 10% was reserved for team members and advisors. Team member tokens were locked for the first six months and vested over a period of 24 months, while advisor tokens were locked for two months and fully released afterward.

According to co-founder Radomski, Enjin Coin is unique in that every token minted with Enjin Platform, the company's blockchain asset development platform that [launched](https://blog.enjin.io/enjin-blockchain-game-development-platform-ethereum/) in February 2020, is directly backed by ENJ, giving in-game items real-world liquidity. Similarly, Blagov has [stated](https://blog.enjincoin.io/enjin-x-binance-ama-61fb0fd21855) that the company is focused on adoption, saying he imagines a future in which millions of gamers use digital items backed by Enjin Coin without even knowing it exists. Enjin Coin uses a series of smart contracts to which game developers send ENJ to mint new, unique fungible or nonfungible ERC-1155 tokens. These tokens can be traded on the Enjin Marketplace, which [launched](https://blog.enjin.io/enjin-marketplace/) in September 2019, or exchanged for their backing ENJ at any time. As more custom tokens are minted, more ENJ is removed from the ecosystem, thus making it scarcer. According to its [whitepaper](https://coinmarketcap.com/alexandria/glossary/whitepaper), Enjin Coin [uses](https://cdn.enjin.io/downloads/whitepapers/enjin-coin/en.pdf) a series of both on-chain and off-chain processes. When a transaction is completed within the Enjin ecosystem, a Trusted Platform contacts the users' smart wallets, and the website or game is updated immediately with a placeholder or nontradable version of the digital item until the transaction has been validated by the Ethereum blockchain.

Enjin was founded as a gaming community platform in 2009 by Maxim Blagov and Witek Radomski, with Blagov becoming CEO and assuming responsibility for the creative direction of the company and Radomski serving as chief technical officer, responsible for the technical development of its products. Blagov has [described](https://www.linkedin.com/in/maxim-blagov/) himself as having experience in creative direction, marketing, and software project management and design. The idea of introducing blockchain to Enjin was first proposed by Radomski after he became interested in [Bitcoin](https://coinmarketcap.com/currencies/bitcoin) (BTC) in 2012, eventually [convincing](https://www.investvoyager.com/blog/crypto-talk-radomski/) the company to accept it as a payment option. After learning about Ethereum and [smart contracts](https://coinmarketcap.com/alexandria/glossary/smart-contract), he decided he wanted to create his own blockchain-integrated software. Radomski is also the author of the ERC-1155 token standard, a new standard for Ethereum-issued tokens that was [introduced](https://blog.enjin.io/erc-1155-crypto-item-standard/) in June 2018, [finalized](https://blog.enjin.io/erc-1155-token-standard-ethereum/) in June 2019, and is used for minting both fungible and nonfungible tokens.

Enjin Coin is a project of Enjin, a company that provides an ecosystem of interconnected, [blockchain](https://coinmarketcap.com/alexandria/glossary/blockchain)-based gaming products. Enjin's flagship offering is the Enjin Network, a social gaming platform through which users can create websites and clans, chat, and host virtual item stores. Enjin allows game developers to tokenize in-game items on the [Ethereum](https://coinmarketcap.com/currencies/ethereum/) blockchain. It uses Enjin Coin, an [ERC-20](https://coinmarketcap.com/alexandria/glossary/erc-20) token, to back the digital assets issued using its platform, meaning that items can be bought, sold and traded with real-world value. Enjin Coin was first [announced](https://blog.enjin.io/announcing-enjin-coin/) in July 2017, and it [launched](https://blog.enjin.io/enjin-coin-smart-contracts-live-on-mainnet/) on the Ethereum mainnet in June 2018. Enjin Coin (ENJ) is a digital store of value used to back the value of blockchain assets like non-fungible tokens (NFTs). Every asset minted with the Enjin Platform contains ENJ, a minting resource which is locked inside NFTs and removed from circulation. Minting blockchain assets with ENJ provides a variety of benefits to creators and users: * Infuses them with a reserve value * Ensures their transparency and scarcity * Gives them instant liquidity * Provides utility in games and apps * Anti-inflationary * Enjin's "melting" functionality allows users to destroy their blockchain assets at any time to retrieve the ENJ value from within. The Enjin blockchain ecosystem aims to offer software products that make it easy for everyone to develop, trade, monetize, and market with blockchain. Founded in 2009, Enjin has roots in the gaming industry, with the company’s first product, a gaming community platform called the Enjin Network, growing to 20 million users over the course of a decade. In 2017 following an ICO, Enjin established itself as a leading blockchain ecosystem developer, building a suite of software products that enable anyone to easily mint, manage, trade, distribute, and integrate blockchain assets. Enjin’s co-founder Witek Radomski wrote the code for one of the first ever non-fungible tokens (NFTs) and is also the co-author of the ERC-1155 Ethereum token standard. Built on top of an on-chain infrastructure, the Enjin ecosystem enables game developers and businesses of all sizes to use tokenized digital assets as part of their acquisition, retention, engagement, and monetization strategies. The Enjin ecosystem is fueled by Enjin Coin (ENJ), a cryptocurrency used to back the value of blockchain assets.

ENS is available on [Binance](https://coinmarketcap.com/exchanges/binance/), [OKX](https://coinmarketcap.com/exchanges/okx/), [Bitget](https://coinmarketcap.com/exchanges/bitget/), [Mandala Exchange](https://coinmarketcap.com/exchanges/mandala/). If you want to learn more about how to start buying cryptocurrencies, you can read more in [our guide](https://coinmarketcap.com/how-to-buy-bitcoin/).

ENS runs on [Ethereum](https://coinmarketcap.com/currencies/ethereum/), which is secured by a [proof-of-work consensus mechanism](https://coinmarketcap.com/alexandria/glossary/proof-of-work-pow) that requires miners to mine new Ether. A set of decentralized nodes validates transactions and secures the Ethereum blockchain. Thanks to the decentralized nature of Ethereum, and over 10,000 [nodes](https://coinmarketcap.com/alexandria/glossary/node) securing the network, ENS does not have a single point of failure and cannot be hacked as such. Ethereum Name Service has also partnered with different wallets like Coinbase Wallet, Trust Wallet, My Crypto and others.

ENS is the [governance token](https://coinmarketcap.com/alexandria/glossary/governance-token) of Ethereum Name Service and is used to govern the protocol and influence decisions on pricing its .eth addresses and the price oracle. Token holders can also delegate their tokens to the [DAO](https://coinmarketcap.com/alexandria/glossary/decentralized-autonomous-organizations-dao) for voting. The [total supply](https://coinmarketcap.com/alexandria/glossary/total-supply) of ENS is 100 million, and the [circulating supply ](https://coinmarketcap.com/alexandria/glossary/circulating-supply)is just over 20 million at the time of writing. ENS is distributed as follows: * DAO Community Treasury (50%): 10% at launch, linear vesting over four years. * Airdrop to .ETH holders (25%) * Contributors (25%), with four-year linear vesting including: * Core Contributors: 18.96% * Select Integrations: 2.5% * Future Contributors: 1.25% * External Contributors: 1.29% * Launch Advisors: 0.58% * Keyholders: 0.25% * Active Discord Users: 0.125% * Translators: 0.05%

Ethereum Name Service has a one-of-a-kind value proposition due to being the first service that transfers the Domain Name Service to the decentralized Web3. ENS is not a company but an open-source project that calls itself “an open public utility that belongs to the company.” Essentially, it aims to become a piece of infrastructure as vital to Web3 as the DNS is to the internet. Moreover, ENS does not have a single point of failure thanks to blockchain technology and is, by design, more censorship-resistant and secure. One of the main obstacles to the mass adoption of blockchain technologies has been their accessibility and ease of use, which ENS aims to remedy. Instead of using machine-readable albeit inconvenient alphanumeric codes, users can receive any crypto or [NFT](https://coinmarketcap.com/alexandria/glossary/non-fungible-token) to a short and easy-to-remember link. This simplifies the user experience and makes blockchain technology less technical. Under the hood, ENS is built on two [smart contracts](https://coinmarketcap.com/alexandria/glossary/smart-contract). The first is an ENS registry recording domains registered on ENS and stores the following information about each of them: * The domain owner * The domain resolver * The caching time for all records under the domain The second smart contract is the resolver. Its purpose is to translate the machine-readable addresses to domain names and vice versa and match each domain to its corresponding user, website, or address.

ENS was initially a part of the Ethereum Foundation, but spun off as a separate organization in 2018. Its Lead Developer is Nick Johnson, a software engineer from New Zealand that previously worked at Google and the Ethereum Foundation. The ENS team is nine people strong and its treasury is governed by a 4-7 [multi-signature](https://coinmarketcap.com/alexandria/glossary/multisignature) root with the following members: * Nick Johnson - ENS * Sergey Nazarov - Chainlink * Dan Finlay - Metamask * Taylor Monahan - MyCrypto * Aron Fischer - Colony * Jason Carver - Ethereum Foundation * Martin Swende - Ethereum Foundation Although ENS has no investors, it is supported by the Ethereum Foundation, Binance_X, Chainlink, Ethereum Classic Labs, and Protocol Labs.

[Ethereum Name Service (ENS)](https://coinmarketcap.com/currencies/ethereum-name-service/) is a distributed, open, and extensible naming system based on the Ethereum blockchain. ENS converts human-readable Ethereum addresses like john.eth into the machine-readable alphanumeric codes you know from wallets like [Metamask](https://coinmarketcap.com/alexandria/glossary/metamask). The reverse conversion -- associating metadata and machine-readable addresses with human-readable [Ethereum](https://coinmarketcap.com/currencies/ethereum/) addresses -- is also possible. The goal of Ethereum Name Service is to make the Ethereum-based web easier to access and comprehend for humans - similar to how the Internet’s Domain Name Service makes the internet more accessible. Like DNS, ENS also uses a system of dot-separated hierarchical names called domains with domain owners fully controlling their subdomains. ENS launched with a highly successful retroactive [airdrop](https://coinmarketcap.com/alexandria/glossary/airdrop) in November 2021 that rewarded users who had registered addresses before the project launched its token. However, in February 2022, it faced criticism over apparently [homophobic tweets](https://coinmarketcap.com/alexandria/article/ens-in-crisis-as-leader-s-unacceptable-tweet-emerges) by its director of operations.

After the 1INCH token was launched in late December 2020, all wallets that had interacted with the [1inch dApp](https://app.1inch.io/) through midnight on December 24 received 1INCH tokens if they met certain criteria. Liquidity providers for the 1inch Liquidity Protocol are also getting 1INCH tokens according to the 1inch Foundation’s various incentives and liquidity mining programs. 1INCH is available on multiple exchanges, including [Binance](https://coinmarketcap.com/exchanges/binance/), [Huobi Global](https://coinmarketcap.com/exchanges/huobi-global/), [Coinbase](https://coinmarketcap.com/exchanges/coinbase-exchange/), [Kraken](https://coinmarketcap.com/exchanges/kraken/), [KuCoin](https://coinmarketcap.com/exchanges/kucoin/) and [OKEx](https://coinmarketcap.com/exchanges/okex/). To learn more about this project, check out our deep dive of the [1inch Network](https://coinmarketcap.com/alexandria/article/what-is-1inch-1inch), as well as the [1INCH “Learn & Earn”](https://coinmarketcap.com/earn/project/1inch) campaign page.

1inch is non-custodial, and all trades take place within one transaction from a user’s wallet on any of the supported blockchains and layer-2 networks. The technical structure of all 1inch protocols provides a high degree of security to users as well. For example, insecure liquidity sources can connect to the 1inch Aggregation Protocol without users risking the loss of funds. The protocol integrates security checks during every transaction to prevent any losses. As of July 2022, more than 240 liquidity sources are integrated into the 1inch Network. 1inch smart contracts got audited by leading audit teams in the industry such as OpenZeppelin, Consensys diligence, SlowMist, Haechi Labs, CoinFabrik, Certik, Hacken, Scott Bigelow, MixBytes, and Chainsulting.

In addition, to access to deepest liquidity from multiple sources across multiple blockchains, the 1inch Network offers users attractive prices and a high degree of security being the most audited project in DeFi. In late 2022, the Fusion mode was introduced, which enables users to swap tokens without paying any network fees and at the most favorable rates. In addition, Fusion mode offers users extra MEV protection. All swaps in Fusion mode are executed by resolvers – professional traders, who use the most sophisticated and efficient ways of protecting users’ swaps from MEV.

The 1inch Network was founded by [Sergej Kunz](https://coinmarketcap.com/alexandria/author/sergej-kunz) and [Anton Bukov](https://coinmarketcap.com/alexandria/people/anton-bukov) over the course of the ETHGlobal New York hackathon in May 2019. The two had earlier met during a live stream of Kunz’s YouTube channel (CryptoManiacs) and began entering hackathons together, winning a prize at a hackathon in Singapore, as well as two major awards from the ETHGlobal. Prior to 1inch, Sergej Kunz worked as a senior developer at product price aggregator Commerce Connector, coded at communication agency Herzog, led projects at Mimacom consultancy, and then worked full time at Porsche in both DevOps and cybersecurity. Anton Bukov had worked in software development since 2002 and in decentralized finance (DeFi) since 2017. Among other projects, his resume features gDAI.io and NEAR Protocol.

The 1inch Network unites decentralized protocols whose synergy enables the most lucrative, fastest, and protected operations in the DeFi space. The 1inch Network's first protocol is a decentralized exchange ([DEX](https://coinmarketcap.com/alexandria/glossary/decentralized-exchange-dex)) [aggregator](https://coinmarketcap.com/alexandria/article/what-are-dex-aggregators-a-deep-dive-by-1inch) solution that searches deals across multiple liquidity sources, offering users better rates than any individual exchange. The 1inch Aggregation Protocol incorporates the Pathfinder algorithm for finding the best paths across over 400+ liquidity sources on 12 chains: Ethereum, BNB Chain, Polygon, Avalanche, Optimism, Arbitrum, Fantom, Gnosis Chain, Klaytn, Aurora, zkSync and Base. In just over two years the 1inch DEX aggregator has reached 1M users and surpassed $150B in overall volume on the Ethereum network alone. The 1inch Limit Order Protocol facilitates the most innovative and flexible limit order swap opportunities in DeFi. The protocol’s features, such as dynamic pricing, conditional orders, and extra RFQ support, power various implementations, including stop-loss and trailing stop orders, as well as auctions. The [1inch Wallet](https://apps.apple.com/us/app/1inch-defi-wallet/id1546049391) is a multichain mobile platform that provides an easy-to-navigate interface with secure storing, transaction, and staking capabilities. This versatile wallet was built from the ground up to streamline interacting with 1inch’s features. The 1INCH token is the governance and utility token of the 1inch Network. 1INCH holders can stake their tokens to participate in the 1inch Network's [DAO](https://coinmarketcap.com/alexandria/glossary/decentralized-autonomous-organizations-dao) governance, including the 1inch DAO Treasury management. Also, holders can choose resolvers and earn a part of their fees. With the 1inch Fusion, users can stake 1INCH tokens to receive Unicorn Power (UP), then subsequently delegate their UP to any 1inch Fusion Resolver to start receiving rewards from them. When staking, there is the option to set a custom or preset lock period. User’s st1INCH tokens cannot be unstaked/withdrawn without penalty until the designated lock period expires. In December 2020, 1inch raised $12 million in Series A funding, led by Pantera Capital, with others including ParaFi Capital, Blockchain Capital, Nima Capital, and Spartan Group. The funding round was conducted through a SAFT (simple agreement for future tokens) sale. In December 2021, 1inch has closed a $175 million Series B round, led by Amber Group. Among about 50 investors that participated in the funding event are Jane Street, VanEck, Fenbushi Capital, Alameda Research, Celsius, Nexo, Tribe Capital and Gemini Frontier Fund.

CELO can be purchased with fiat on [Binance](https://coinmarketcap.com/exchanges/binance/), [Coinbase](https://coinmarketcap.com/exchanges/coinbase-exchange/) (where it’s listed as CGLD), [KuCoin](https://coinmarketcap.com/exchanges/kucoin/), [OKX](https://coinmarketcap.com/exchanges/okx/) and other exchanges. Celo can also be purchased via global onramps, such as MoonPay, Ramp Network and Simplex/Nuvei.

The Celo blockchain uses a proof-of-stake consensus mechanism. The CELO governance asset supports the security, growth, and development of the platform by enabling CELO holders to stake the asset in support of [Celo Validators](https://docs.celo.org/validator), vote on changes or additions to the core technology proposed by community members, and engage directly with dapps on the Celo Platform. Validators play an important role in participating in the consensus mechanism of the Celo Platform. They help secure the Celo network and act independently to verify transactions and propose blocks to add to the blockchain.

CELO governance asset has a fixed supply of one billion. CELO assets in circulation are split between the Mento Reserve and a community of CELO holders.

Celo is a carbon-negative, permissionless blockchain that supports the CELO governance asset and other ERC-20 Mento stable assets, which may be used to pay for transaction fees. With its interoperability, cross-chain compatibility, and mission to create the conditions of prosperity for all, Celo is capable of bringing the regenerative finance (ReFi) movement mainstream by accelerating global financial inclusion, community commerce, and climate-positive technology across multiple ecosystems in parallel. Importantly, Celo is also one of the world’s first [[carbon-negative] blockchains](https://blog.celo.org/a-carbon-negative-blockchain-its-here-and-it-s-celo-60228de36490). Its proof-of-stake consensus mechanism requires a small fraction of the energy used by proof-of-work chains. The Celo community’s commitment to the planet goes even further, as an integral partner in the [Climate Collective](https://climatecollective.org/), an expanding coalition of companies building at the intersection of Web3 and climate action. The [Mento Reserve](https://reserve.mento.org/), supported by the Mento Protocol, which allows access to various stable assets to users on the Celo blockchain, further holds a diversified portfolio of digital assets, with plans to have 40% of the Reserve represented by natural capital-backed assets in four years’ time. Another unique feature of Celo is its mobile-first design, which can help reach billions of global users at scale. This includes a light-client syncing mechanism called [Plumo](https://docs.celo.org/protocol/plumo), a zk-SNARK-based system that allows Celo mobile and resource-constrained users to sync to the Celo blockchain faster, while using only a few kilobytes of data; mapping encrypted phone numbers to wallet addresses (so users can send digital assets to friends and family in their contact lists); or accessing an ecosystem of dapps, like the [Valora Wallet](https://valoraapp.com/), via low-powered smartphone devices. Each of these makes transacting on the blockchain easier for real world users of all experience levels. To learn more about Celo’s uniqueness, visit the [Celo library of technical documentation](https://docs.celo.org/) and [Github](https://github.com/celo-org).

Celo was co-founded in 2017 by [Rene Reinsberg](https://www.linkedin.com/in/reinsberg/), now President of the Celo Foundation; [Marek Olszewski](https://www.linkedin.com/in/marekolszewski/), current Chief Technology Officer at cLabs; and [Sep Kamvar](https://www.linkedin.com/in/sdk12345/), computer scientist, artist, and former professor at MIT Media Lab.

[Celo](https://celo.org/) is a carbon-negative, permissionless, blockchain with a rich ecosystem of global partners building innovative Web3 dapps to support a more inclusive financial system. Accessible to anyone with a mobile phone, the Celo ecosystem consists of a decentralized, proof-of-stake blockchain technology stack (the Celo platform), CELO governance asset, and several [Mento](https://www.mento.org/) stable assets (cUSD, cEUR, cREAL) that allow for real-world users to use digital assets. The open source [Celo mainnet launched on Earth Day 2020](https://blog.celo.org/its-official-celo-mainnet-is-here-6a3a71763f68#:~:text=Celo%20native%20asset%20transfers%20enabled,April%2022%2C%20is%20officially%20Mainnet!). The Celo community [passed](https://celo.stake.id/#/proposal/116) an indicative on-chain governance [proposal](https://forum.celo.org/t/clabs-proposal-for-celo-to-transition-to-an-ethereum-l2/6109) (temperature check) to have Celo migrate to an Ethereum layer-2. Google Cloud, Deutsche Telekom, Telefonica, and many others run validators on the Celo Platform. Today, the Platform supports 1,000+ projects in over 150 countries are building on Celo to, helping to create the conditions of prosperity for all. For more information, please visit [Celo.org](https://celo.org/).

RVN is a freely traded coin with pairs against stablecoins, such as Tether (USDT), other cryptocurrencies like Bitcoin and Ethereum, and fiat money. The top exchanges for trading in Ravencoin are currently [Binance](https://coinmarketcap.com/exchanges/binance/), [Huobi Global](https://coinmarketcap.com/exchanges/huobi-global/), [OKEx](https://coinmarketcap.com/exchanges/okex/), [ZG.com](https://coinmarketcap.com/exchanges/zg-com/), and [VCC Exchange](https://coinmarketcap.com/exchanges/vcc-exchange/). You can find others listed on our [crypto exchanges page](https://coinmarketcap.com/rankings/exchanges/). New to crypto and want to know how to buy Bitcoin (BTC) or any other token? Find out the details [here](https://coinmarketcap.com/how-to-buy-bitcoin/).

Ravencoin is a fork of Bitcoin, so it is protected by the power of decentralization and mathematics. It uses a proof-of-work mining algorithm called KAWPOW, which replaced X16R and X16RV2 on May 6, 2020. Not only does this ensure security it is designed to be ASIC resistant. The X16r algorithm group employed initially uses 16 different hashing algorithms for each mining block, but the order in which they are used is different for every block and is derived from the last 8 bytes of the hash of the previous block. It was thought that the necessity to adapt each cycle did not give ASICs any advantage over CPUs and GPUs. Eventually, however, ASICs for it were created, andRavencoin had to switch to an entirely different algorithm, KAWPOW, which was a slightly modified version of ProgPow, which itself was the evolution of Ethash and is optimised for mining on GPUs. This, combined with the commitment of fair distribution with no pre-mine is meant to ensure that no single individual or organization will have or be able to have enough hash power to try to attempt a 51% attack or create any sort of artificial market price shocks. Unfortunately, there was a successful known hack of the Ravencoin blockchain, of which the public was informed about on June 3, 2020. During the attack, hackers managed to instantly mint i315 million RVN coins, which constitutes about 1.5% of Ravencoin’s supply cap of 21 billion. At the moment of the announcement, the price of the stolen RVN was estimated at USD $5.7M. None of the existing coin holders were directly affected by the attack.

Ravencoin insists on being as fair and open as it is possible for a new cryptocurrency. There was no pre-mine, no ICO and no coins were held for developer or founders rewards. In three years since its inception (as of March 2021), 39% of coins are already mined. The total supply is capped at 21 billion coins.

As a fork of the Bitcoin code, Ravencoin features four key changes: modified issuance schedule (with block reward of 5,000 RVN), block time reduced to one minute, coin supply capped at 21 billion (a thousand times more than BTC) and a mining algorithm (KAWPOW, formerly X16R and X16RV2 respectively) intended to mitigate the centralization of mining caused by ASIC hardware. Ravencoin aimsto solve the problem of assets transfer and trading over blockchain. Previously, if someone created an asset on the Bitcoin blockchain, it could be accidentally destroyed when someone traded the coins it was created with. RVN coins are designed as internal currency within the network and must be burnt in order to issue token assets on the Ravenchain. The assets can represent anything: real world custodial objects like gold or physical euros, virtual goods and objects, a share of a project like stocks and securities, airline miles or an hour of someone’s wage, etc. The planned future versions of Ravencoin protocol will support integrated messaging and voting systems.

The Ravencoin whitepaper was published by Bruce Fenton, Tron Black and Joel Weight. They stand out over the majority of the crypto crowd in that they were all seasoned businessmen and developers before they started this project. Fenton is well known in crypto for being a board member and an executive director of the Bitcoin Foundation from 2015 to 2018. Before crypto, he had a solid career in investment banking as the vice president of Morgan Stanley in the 90s and a managing director of Atlantis Consulting for 13 years. Currently, he works as a managing director of Chainstone Labs, a stealth fintech startup. Tron Black is a principal software developer with more than 30 years of experience, including leading several software companies as a CEO. He has been working in crypto since 2013 on several ventures including Verified Wallet, CoinCPA and t0. He is currently employed with Medici Ventures, a subsidiary of Overstock.com focused on blockchain technology applications. Weight is a chief technology officer at Overstock.com, a well known online retailer. Previously, he has also been involved with Medici Ventures in roles of COO and CTO. He is a veteran software developer who started his career after graduating from the University of Utah in 1998 right in the middle of the dotcom bubble.

Ravencoin is a digital peer-to-peer ([P2P](https://coinmarketcap.com/alexandria/glossary/peer-to-peer-p2p)) network that aims to implement a use case specific blockchain, designed to efficiently handle one specific function: the transfer of assets from one party to another. Built on a fork of the [Bitcoin](https://coinmarketcap.com/currencies/bitcoin/) code, Ravencoin was announced on Oct. 31, 2017 and released binaries for mining on Jan. 3, 2018 with what is called a fair launch: no premine, ICO or masternodes. It was named in reference to a TV show Game of Thrones.