BLUF: RVN price drop along with other crypto markets due to COVID-19 selling - hit low of $0.01, back to $0.016. Virtual Ravencoin Meetup in AltSpaceVR replacing meatspace meetup. Ballet wallet manufacturing proceeding in China, Nevada phase delayed. Both iOS and Android RVN wallets updated.
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The mining algorithm is replacing x16rV2 with an algorithm that is optimized for modern GPUs. The algorithm is a derivative of Ethash, further enhanced to be optimized for GPUs to progPOW, and then further refined to fix some bugs, and make some Ravencoin specific changes and is called KAWPOW. This algo is now running on Ravencoin’s testnet and will be introduced to the mainnet code on April 15th for activation on May 6th. It is, as always, up to the miners, and economic actors to upgrade.
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Since the last update, a lot has changed. COVID-19 has locked down most of the world in an effort to prevent the spread of the virus. The global economy and markets have sold off, and crypto was not spared. Both BTC and RVN dropped by about half. Both are recovering, and RVN is up 60% from its low of about $0.01 to $0.016.
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The SLC Ravencoin Meetup, which was scheduled for April 3rd, had to be canceled. John Lester, the CMO (Chief Meme Officer) scheduled a virtual meetup at AltSpaceVR. The first virtual meetup was well attended and shows promise for future bigger meetups with speakers and a more formal agenda. Anyone can participate from anywhere in the world with any VR Headset or a Windows computer for a less immersive experience.
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Ravencoin mobile wallet upgrades for iOS and Android RVN Wallet are available for download. Some of the APIs used to get price feeds had been removed. New, more stable, APIs have been added. Updates to the help system were made.
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For anyone who has wondered what the blockchain adds to tokenization of assets (different from commodity-based bearer crypto-currencies like BTC, RVN, or LTC), this article by Derek Schloss from the Security Token Academy does an amazing job of explaining it. It delves into the history of the legal layer vs. the formatting layer. Spoiler alert: Tokenization is the formatting layer. There is a reference to Ravencoin near the end.