Ravencoin has many uses, but one of its best uses is to prove authenticity and provenance with the issuance and transfer of a digital twin token on the Ravencoin network. The digital twin token is paired with a physical item, like a rare collectible.
There are a bunch of blockchains that claim this capability, but most are missing key ingredients that make it both easy and accessible to non-crypto folks.
Why is Ravencoin better at this?
- Ravencoin uses guaranteed unique names for tokens. This is useful for branding and is far easier to understand for mere mortals than a contract id in a smart contract system like Ethereum, EOS, or Tezos.
- Ravencoin has built-in support for NFTs. These are tokens where there can only be one. With Ravencoin these “Unique Tokens” have a # character in them and are guaranteed at the protocol level to be unique. Example: ART#MonaLisa
- Ravencoin is tightly integrated with IPFS (Inter-Planetary File System) This allows you to store a movie, photo, or other meta-data with every token. For a digital twin, this would usually be a high-res photo of the collectible item, but it could also be a video of it being signed by its creator.
- Ravencoin supports sub-assets. This allows a company to brand the top-level asset to…