Ravencoin (RVN) is essentially a blockchain network that was purpose-built to issue tokens and fill the love for an alternative to other blockchain networks.
It takes advantage of the Proof-of-Work (PoW) consensus mechanism and a unique implementation of it known as KAPOW, which means that it can be used for a variety of different purposes, such as providing a digital representation of real-world assets as well as facilitating non-fungible tokens (NFTs).
Today, we are going to go over just about everything you need to know when it comes to running a Ravencoin (RVN) full node.
- Ravencoin is known due to its KAPOW mechanism when it comes to reaching consensus, which was designed to allow for more decentralized mining when compared to the SHA-256 algorithm used on Bitcoin (BTC).
- Ravencoin can be used as a means of issuing tokens that can represent any real-world asset, such as gold, shares, virtual goods, rewards, or anything else, alongside non-fungible tokens (NFTs).
- Each user of Ravencoin has the ability to launch and trade tokens, which makes it a solid alternative option for many industries that are curious about launching a digital token that can be used to transfer the value of assets.
- You can run a Ravencoin full node manually or connect to a pre-existing one through the utilization of the blockchain-as-a-service provider NOWNodes.
Pros and Cons of RVN Full Node
Ravencoin (RVN) Full Node Pros
- The ability to tokenize assets provides a solid opportunity for those getting into the crypto space, and despite the high level of competition, Ravencoin is a solid project and a leader in this regard. This means that Ravencoin nodes have a high level of utility.
- Ravencoin utilizes the KAPOW mechanism to ensure that it has consistent ASIC resistance, which means that anyone is able to set up a node and even mine the cryptocurrency without needing to compete against miners that utilize ASIC miners.
- The disruption of the market and the addition of tokenized assets allows users the ability to be rewarded for being holders of the cryptocurrency and for running a Ravencoin node.
Ravencoin (RVN) Full Node Cons
- There are numerous competitors for Ravencoin within the crypto space.
- The project does not include smart contracts, which have become one of the key features of the crypto space.
Running Ravencoin Full Node
We are going to go over just about everything you need to know when it comes to setting up and running a Ravencoin full node so you can get one up and running as quickly as possible.
- Step 1: Create a Digital Ocean Account or use any other dedicated server
You will first need to create a Droplet, which can be under the category of a “Regular Intel” CPU, with at least 80 GB of storage. You will need to connect your new node through SSH or login and run commands to connect. Note that you can use any other hosting service that will allow you to create dedicated servers.
Just keep in mind that if you are using Amazon Web Services (AWS) instead, then you will need to allow port 8767 in the security groups, and this could be a more expensive option.
- Step 2: Downloading the Ravencoin Core
You can now download a compressed zip file of the Ravencoin core with the usage of the following command:
You can now use the pre-installed python3 to unzip the file by using this command:
Then, you can uncompress the compressed file inside the zip
- Step 3: Setting the node up
You can map raven and raven-cli in order to run them from any folder with these commands:
It is also recommended to set the maxconnections to 1000, so you can connect to more nodes.
Now, you can run ravend as a daemon, which is a background process, with -maxconnections=1000.
You can even add this to ~/.raven/raven.conf
Then, print out “started.”
If you want to do it all at once, this is what the command would look like:
To ensure that the full node is running, you can utilize a different device to run this command:
And it should return a result such as this one:
Then you can use CTRL-] to exit, and then press q and ENTER to quit the telnet.
Once you have successfully created a node and it has fully synchronized, you can then create a snapshot and add new nodes from the snapshot, where they will be fully synchronized from the very start.
If the server ever gets restarted, the ravend daemon will need to be started again from your end.
If you do not want to go through all of the work to run your own RVN full node, and want to learn how to find Ravencoin nodes, in that case, you can connect to one using the blockchain-as-a-service provider known as NOWNodes, which will enable you to connect to RVN nodes through the usage of a free API key that you can get from the official website.
Hopefully, now you know a bit more when it comes to what Ravencoin (RVN) is, how it works, and why you might want to run your own RVN full node.
Remember that full nodes maintain a copy of the blockchain and distribute it to those that are downloading it. The node can confirm transactions and further spread out all of the previous functions, which makes the network a lot more resilient. Without full nodes, the network could not exist.
That said, if you want to connect to a pre-existing Ravencoin (RVN) node, you can utilize NOWNodes, which will provide you with an uptime of 99.95%, and you can connect within the span of less than a second.GET ACCESS TO RAVENCOIN