All tokens are not created equal. There are some basic differences in token creation between RVN and ETH which we believe give Ravencoin tokens many advantages. Ravencoin developer Tron Black discusses the differences in Ravencoin and Ethereum created tokens in the article below.
He covers these main points:
- The cost to transfer Ravencoin assets is minimal
- Ravencoin allows unique names (human-readable) for your token:
- This prevents fraud and spoofing using identically named tokens.
- A guaranteed unique name is valuable to token issuers because their brand can be built using the name.
- Ravencoin is purpose-built for asset issuance. Ethereum, by contrast, runs a generic virtual machine, and the ERC-20 contract is just a template smart contract (program) that can be used to issue and transfer assets.
- Ravencoin assets can be created with an IPFS content-id that is embedded into the blockchain. Because of the way IPFS works to reference the file information with the hash (content-id), it makes it impossible to edit the meta-data associated with the Ravencoin asset. This information is standardized and available through various Ravencoin asset explorers. The meta-data can be PDFs, movies, text files, or even entire folders or websites that convey the meaning and purpose of the issued asset.
- A special type of token on the Ravencoin platform, Restricted Assets, helps issuers stay compliant with the rules and regulations of some jurisdictions.
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