Inaugural Letter from the President
Posted on January 31st, 2021
This is the first letter from the Ravencoin Foundation. It will be longer than most because there's a lot to cover.
First, it is important to note that the Ravencoin Foundation is not Ravencoin. Ravencoin is open-source software that volunteers run to create a network of nodes that constructs a massively replicated blockchain-based ledger for RVN, and for any other asset tokens that get created by the network users.
The Ravencoin Foundation is a non-profit organization that endeavors to assist and protect the Ravencoin open-source project. It also provides a legal entity that can hold development funds, apply for signing keys and certificates, hold App Store accounts, run Ravencoin explorers, monitor the network, and communicate a shared vision for the project.
The Ravencoin Foundation was incorporated as a non-profit in the state of WY and now holds online accounts and assets that were formerly held by Medici Ventures. Medici Ventures helped pay for the creation of the Ravencoin Foundation and funded the foundation with $125,000 at the end of 2020. Blockchain Tiger and others have made additional generous donations.
The Ravencoin Foundation temporary board consists of myself (Tron Black), Jeremy Smith (CTO of Medici Ventures), and Doug Pepe (founder of Mango Farm Assets). The executives are me as President, and Jesse Empey as Secretary, Treasurer, and VP.
A website exists, but isn't complete. https://ravencoin.foundation. We have been working with some very talented volunteer designers from Medici Ventures on the website, but the recent dissolution of Medici Ventures might affect that going forward.
There is currently no Ravencoin development team. I will review PRs to Ravencoin core along with other technical community members. I'll prevent fast and loose changes to the code by requiring review time before merges to the main branch and require extra time and scrutiny for any changes that impact consensus or the core network protocol.
The Ravencoin Foundation is evaluating the pros, cons, and ramifications of allowing the network itself to help fund core development, and development of 2nd layer tools. If this looks like the best route for the Ravencoin network, then the foundation governance will be further distributed. Then, if the network participants go along, the economic actors transition, and miners vote with their mining hash power on the network-derived funding proposal the network could self-fund its own development. This has been done by at least one other project already, the BCHA (Bitcoin Cash ABC) project, but there wasn't enough consensus for that change to remain the majority chain. Using BIP 9 activation rules in the code, we can assure that a large majority is in agreement before any transition takes place.
The Ravencoin Foundation will also help connect people and projects together. You can contact me at firstname.lastname@example.org if you'd like to contribute to a project, or if you have a project that needs help and we can make introductions. Since the open-source software itself can't make introductions, the Ravencoin Foundation can be a meeting place for Ravencoin connections to be made. Trying to build something, or issue assets on Ravencoin and need some help? Links and resources can be found in the footer of https://ravencoin.foundation, and if you don't find what you're looking for, then ask. Still don't have it? Then volunteer, build it, and contribute it back to the community. This project is a group effort.
The Ravencoin Foundation does not have any official authority over the project. The code is open-source, licensed under the most permissive MIT license, and belongs to anyone and everyone. Any status or influence of the Ravencoin Foundation is conferred by the consent of the network participants. The Ravencoin network is stronger with the backing of the Ravencoin Foundation and we hope to contribute direction, guidance, and assistance to the entire Ravencoin ecosystem as resources allow.
I hope to communicate more often in the days ahead. Thank you for supporting this amazing project.
President, Ravencoin Foundation