Ravencoin Use Cases: Community Perspective
Recently, we sent out a tweet urging our Twitter community to spam us with use cases of Ravencoin and we received a ton of feedback. Thanks, Ravenites! We promised we would do an article on the use cases of Ravencoin based on your feedback and so here we are. For those unaware, we are pleased to let you know that we’ve been in a long-term partnership with Ravencoin. Therefore, we are so pleased to see a lot of you guys involved with it. With that said, let’s take a dive into Ravencoin use cases, a community perspective inclusive.
What is Ravencoin?
Ravencoin is a blockchain platform designed to enable just about anyone to issue tokens on its network for a number of reasons. Ravencoin’s coding infrastructure is based on a hard-fork of the Bitcoin code. With that said, Ravencoin is open-to-use and anyone can make their own security token in just a matter of minutes and trade it globally. The token can represent anything such as:
- The share of a project: such as gold bars, silver coins, or physical currency.
- Virtual goods such as in-game currency, tickets to an event, access token to a service, etc.
- Both physical and digital assets such as the shares of a company.
- Credit such as gift cards, reward points, etc.
Of course, Ravencoin is perfect to build a variety of use cases, so let’s see what’s already on the table.
Electrum Ravencoin Wallet
The Electrum Ravencoin wallet is a lightweight wallet available for users who, for some reason are either unable or don’t want to run a full Ravencoin core wallet. It’s ideal for users who don’t want to allow hardware support. The way the Electrum Ravencoin works is that it runs on a system known as a shared node. This system allows users to wrap the Electrum server over the Ravencoin node which then allows Electrum-based clients to receive information about their addresses.
Ravenwallet by MoonTree
If you are not a fan of the Electrum Ravencoin wallet and you’d prefer a mobile wallet, then you are in luck. This RVN wallet is a full-featured mobile wallet that’s sponsored by MoonTree. Through the wallet, you can send and receive RVN tokens, create, distribute, and manage assets, and trade on an exchange in the form of Atomic swaps. Or you can simply use it as a wallet for Ravencoin.
Ravencoin and NFTs
If you are a digital creative and you want to put your good talent to use, then you’ll be happy to learn about RVNFT. RVNFT is a tokenization platform based on the Ravencoin blockchain. It allows you to create your own NFT (Non-Fungible Token) such as a song, a movie, an artwork, a certificate of authenticity, and much more.
SYNTH digital guild
The major fans of NFT collectibles are going to love SYNTH. SYNTH is a digital society based on the RVN token that intends to expand the Ravencoin NFT collectible community. By utilizing tokens as a company structure, SYNTH offers a number of different NFT and token types on various marketplaces. Additionally, SYNTH offers a platform to host NFTs and tokens for NFT creators too.
If you are looking for an NFT marketplace, then you are in luck too. JustNFTs is Ravencoin’s official NFT auction and marketplace that’s built upon the Ravencoin blockchain. It proudly supports all artists who put a great deal of work into creating detailed high-level NFTs. Approximately 1% of all the transactions is given back to the Ravencoin foundation.
RavenVerse is a solid example of NFTs on Ravencoin. The RVN diamonds look amazing and they’re all unique. Games, giveaways, a whole lot of things to support the Ravencoin community.
Ever since Ravencoin went live, more than 25,000 assets have been issued on the network. All these assets differ in Ravencoin use cases. They were created through burning RVN tokens. Some of them, such as Ravencoin Project 33, were created to test the platform for fun. Project 33 produced glass art units that got tokenized on the Ravencoin blockchain. However, others are being used for real-world applications. Some examples of the projects launched on the Ravencoin system tokenizing assets include The Millenium Sapphire, Rick DeMont Art and Paintings, etc.
Mangofarm Assets was created with only one purpose in mind, to provide a simple way for people to create blockchain assets that they can link back to assets in the “real world.” Mangofarm is pretty easy to use and doesn’t require any advanced knowledge to use or access. It has everything you need to make an asset with full metadata. Full metadata means you can upload practically anything about the asset such as icons, legal documents, etc.
The Humble Miner is a 2D mining game built on the decentralized Ravencoin network. Players of the Humble Miner earn BTC, RVN, and withdrawable digital assets as rewards for their mining efforts. For instance, the game’s in-game currency is known as $PKBIT. $PKBIT is primarily used in the game but, it can be withdrawn from the game and stored in an outside wallet that supports it. If you want to learn more about ‘The Humble Miner’ feel free to check out their official website for more information.
Let’s get to the physical world!
- Wine & Blockchain: Vinsent
Chances are you never thought that you would ever hear blockchain and wine together at any one point. Vinsent is a Ravencoin-based app that brings two of the greatest things together: blockchain and fine wine. Through the app, users can purchase wine directly from wineries while it’s still in the barrel. Thereby, navigating the challenges of wine counterfeiting that has crippled the wine industry.
- Tinaga Island Resort
The Tinaga Island Resort is another successful adoption of Ravencoin. Recently, the Tinaga Island resort based in the Philippines launched its own token known as TIRC, which allows investors to hold equity in the resort. Their goal was to raise $12 million to build the island resort which can then provide income for token holders from the resort’s revenues and sale of luxury villas.
- H-Town Donuts
Yummy! Why don’t you buy some delicious donuts with RVN? Hurry up, they run out very fast! Yep, this is perhaps the most mouthwatering use case of them all. H-Town donuts are for all those sweet-tooth RVN hodlers.
Squawker is a decentralized messaging platform that’s comparable to Twitter. Built on the Ravencoin platform. Squawker is still in its development stage. However, you can check out the raw build over here. The developer behind Squawker admits that he’s not a front end developer so that site looks a little raw, but will be improved upon later. Looking forward to it!
Get RVN On Swapzone & Use It as You Wish
Whether you want to pay for your vacation in the Philippines, get some donuts for a family breakfast or become a creator, you can easily buy some Ravencoin on Swapzone to kick off. Here’s a step-by-step procedure on how to do it:
Step 1. Open Swapzone on your web browser.
Step 2. In the “select pair” tab find the “send” section and insert the amount of crypto that you are willing to swap.
Step 3. In the “get up to” section, you’ll see the approximate amount of RVN crypto you will receive.
Step 4. Immediately after you enter the details, Swapzone will provide you with a number of offers. You have the option to choose based on the best rate, the fastest exchange time, and the best service rating.
Step 5. Having doubts about a particular exchange? Simply click on the exchange and Swapzone will provide you with a breakdown of exchange information such as reviews and its pros and cons.
Step 6. Once you’re settled with an offer you like, simply click on it and click on “exchange”.
Step 7. Enter the wallet address to receive the Ravencoin crypto, an email to refund you, and an email address. Once you’ve entered these details, hit on “proceed to exchange”.
Step 8. After your deposit is received, the exchange partner will then convert your crypto deposit to RVN tokens. Just wait for the process to finalize. It may take some time.
Step 9. Once the process finalizes, you will receive your Ravencoins at your wallet address. Take a moment to rate the exchange partner and leave a review. Yay, now you can use your RVN, gladly you know many options to do it.