Thoughts on Ravencoin? \ stacker news ~bitcoin

10 sats \ 8 comments \ @nkmg1c_ventures 13 Sep 2022 bitcoin

I know most people here are likely BTC maxis, but I'm wondering about people's thoughts on Ravencoin. It's a fork of Bitcoin Core that has added support for smart contracts etc.

https://www.coindesk.com/price/ravencoin/

I'm curious not about price speculation, but to hear from technical people how this compares to Bitcoin and LN? Especially in scalability / privacy.

It's a fork of the Bitcoin core code, it still has a capped supply upped to 21B RVN. But you use RVN to create assets and contracts, so it's similar to ETH in that way.

How does it compare technologically to having Bitcoin + LN combo? Is it also forking LN code and packaging it all together and calling it an L1 native chain?

view all related items

135 sats \ 0 replies \ @tomlaies 13 Sep 2022

Economics is always winner takes it all. This shitcoin is doomed to fail.
There is no usecase for smart contracts that both 1 needs to be decentralized 2 cannot be solved with bitcoin, tor and torrent
What should be its edge over other smartcontract shitcoins like Ethereum? Being a Bitcoin Fork has literally zero value.

116 sats \ 0 replies \ @w3irdrobot 13 Sep 2022

it's not bitcoin.

25 sats \ 0 replies \ @DarthCoin 13 Sep 2022

DON'T DO SHITCOINING! IT'S A SIN! You have been warned

5 sats \ 3 replies \ @cointastical 13 Sep 2022

how this compares to Bitcoin and LN?

LN today? It doesn't. There isn't anything like Ravencoin for tokens available on LN today. There might be projects promising things like NFTs and equity tokens over LN, but I don't know enough about that to comment.

There are asset tokens on a Bitcoin sidechain, Blockstream Liquid. Anyone can issue a token and there are privacy benefits over similar efforts on a blockchain that doesn't have certain privacy protections.

Of course, those issuing tokens have specific needs beyond simply creating a token. So on Liquid for that, Blockstream has built AMP:

https://blockstream.com/amp

And soon there will be a decentralized OTC trading market for these tokens, XDEX:

XDEX, the First Fully Decentralized Bitcoin Powered STO Exchange Launches in Switzerland https://xdex.ch/xdex-the-first-fully-decentralized

How STOKR Works - Connecting Everyday Investors With Innovative Business Ventures https://stokr.io/how-stokr-works

25 sats \ 2 replies \ @nkmg1c_ventures OP 13 Sep 2022

Thank you for your reply. I'm just wondering if there's overlap between learning BTC + LN at the technical / transaction level (which I'm doing) and how Ravencoin does it? As a fork of Bitcoin core my guess is it's similar enough, and whatever they're doing to package contracts along with a BTC-like chain, it's gonna be similar to LN? I will read more.

10 sats \ 1 reply \ @cointastical 13 Sep 2022

As a fork of Bitcoin core my guess is it's similar enough, and whatever they're doing to package contracts along with a BTC-like chain, it's gonna be similar to LN?

No. LN scales using a layer 2 that uses the concept of payment channels. Ravencoin is entirely on-chain.

If you aren't already familiar with it, what you might want to look into would be Omni (OmniLayer) and OmniBolt, which is what Synonym is using (and building ?) to facilitate token issuance.

https://synonym.to/our-stack/

But as I mentioned above, these things I know almost nothing about.

25 sats \ 0 replies \ @nkmg1c_ventures OP 15 Sep 2022

Thank you

5 sats \ 0 replies \ @go 13 Sep 2022

Smart contracts are best on L2 or L3. Build with layers, not as a Willy Wonka Do It All Machine