Ravencoin ranks #117 of 504 cryptocurrencies. On a list that also counts tokens, memecoins, wrapped coins, staked derivatives and stablecoins it appears at #767: 650 of the 766 assets ahead of it are not native coins but tokens or claims. A token is issued on a host blockchain rather than running its own; a claim stands for an asset already counted. Of the 771 non-native assets CoinSpectrum lists above it by market cap, about 62% are tokens, 28% are claims on other assets and 9% are memecoins.
| CoinSpectrum Grade | A · 78/100 · provisional |
|---|---|
| Rank among cryptocurrencies | #117 |
| Rank counting claims | #767 |
| Market capitalisation | $24M |
| Price | $0.00148 |
| Circulating supply | 16,535,167,325 RVN |
| Maximum supply | 21,000,000,000 RVN |
| Consensus family | Proof of Work |
| Consensus mechanism | KAWPOW |
| Own hashrate | 629 GH/s |
| Ledger type | Multi-asset ledger |
| Launch distribution | No premine |
Market figures from the 28 October 2026 build. Open the live view for every exchange's price, and charts.
A — 78 out of 100, provisional (from 19 of 20 criteria, 28 October 2026 build). With what is not yet measured anywhere from nothing to full marks, the score would be 73 to 79 (B to A).
| Criterion | Score | Basis |
|---|---|---|
| Leading Consensus Mechanisms (Source) | 10 | group average |
| Consensus: leader ladder | 10 | Proof of work: 10 of 10 on the ladder of consensus families ranked by their largest chain's market cap |
| Consensus: family ladder | 10 | Proof of work: 10 of 10 on the ladder of families ranked by the combined market cap of their chains |
| Cryptocurrency Standards (Source) | 8.2 | group average, 12 of 13 measured |
| Sound Money Qualities (6 checks) | 7.6 | 3.8 of 5 points, 1 not yet measured source |
| Scarcity: a fixed cap that holds, and a supply near 21 million | 8 | fixed maximum supply of 21 billion: supply scale 6, cap 10 |
| Durability: five years or more with no halt, freeze or reversal | ✗ | 8 full years since its first recorded price, one halt, freeze or reversal in five years |
| Fungibility: every unit interchangeable, none the protocol can freeze or set apart | ✓ | no authority can freeze, blacklist or set apart a coin |
| Divisibility: the smallest unit worth a cent or less | ✓ | 8 decimal places, the smallest unit worth $1.5e-11 |
| Portability: fees of a cent or less and capacity for real demand | – | about 147 transactions a second (5.4 on the throughput scale; 5 is the busiest networks' median demand) |
| Verifiability: open-source nodes and checking without a trusted server | ✓ | node software open source; light clients verify from headers or proofs |
| Privacy (5 checks) | 4 | 2 of 5 passed source |
| Whitepaper privacy: keys are not tied to an identity | ✓ | Anyone can generate keys and receive and send coins; the consensus rules carry no identity check. |
| UTXO ledger: a new key for each payment, no account linking every coin | ✓ | |
| Network-level privacy: the node hides where a transaction came from (Dandelion++, Tor or I2P, on by default) | ✗ | Bitcoin-derived node; Tor only if the user configures a proxy; no Dandelion. |
| Hidden amounts (confidential transactions, RingCT, shielded pools, Mimblewimble) | ✗ | Amounts and asset quantities are public. |
| Hidden sender and receiver (ring signatures or zero-knowledge proofs, one-time or stealth addresses) | ✗ | Addresses are public. |
| Scalability (fees, throughput, block time, block space, features) | 6.9 | average of 4 parts source |
| Fees ($0.001 or less 10, $1 or more 0) | – | not yet measured |
| Throughput (2,478 a second, the busiest network's peak day, 10; 119, the median of the ten busiest, 5) | 5.4 | about 147 simple transactions a second |
| Block time (10 minutes 10, less either side) | 6.4 | a block every 1 minute |
| Block space per 10 minutes (32 MB or more 10) | 9.2 | 2 MB limit, 20 MB per 10 minutes |
| Features (3 checks) | 6.7 | 2 of 3 passed |
| Payments safe to accept within seconds | ✗ | One-minute KAWPOW blocks with probabilistic confirmation; no double-spend proofs or instant locks. |
| Pruned nodes: a full node can validate and drop old history | ✓ | Inherits Bitcoin Core's -prune block-file pruning (Bitcoin Core 0.11+). |
| Light clients verify payments from headers or proofs, without a trusted server | ✓ | Bitcoin-format headers with Merkle roots support SPV verification (Bitcoin §8). |
| Security (miner pay and 7 checks) | 6.2 | 6.2 of 9 points source |
| Miners paid a day ($1,000 0, $10 million or more 10), 2 points | 1.1 | about $2,666 a day |
| Its own hashrate: at least half its algorithm's largest, not merge-mined | ✓ | |
| Largest pool or validator under 50% | ✓ | 45% |
| Largest three under 75% | ✓ | 63% |
| More than one maintained client | ✗ | 1 |
| Node software is open source | ✓ | Volunteer community developers maintain RavenProject/Ravencoin (MIT); the Ravencoin Foundation supports but does not control it. |
| Real on-chain use: 1,000+ transactions a day | ✓ | about 9,500 a day |
| No 51% attack or deep reorganisation in five years | ✓ | |
| Programmability (tokens, contracts, 5 checks) | 6.7 | 6 of 9 points source |
| Token issuance at protocol level, validated by its own nodes | 2 | Native assets in consensus since the November 2018 activation; anyone can issue one by burning 500 RVN. |
| Smart contracts: scripting for spending conditions | 1 | Bitcoin-derived Script with asset opcodes; spending conditions only. |
| Multisig and time locks | ✓ | OP_CHECKMULTISIG plus BIP65 CLTV (nBIP65Enabled true on mainnet). |
| Atomic swaps with other chains | ✓ | HTLCs expressible with CLTV (RVN is swap-enabled in the Komodo coin list), and RIP-15 half-signed swaps for on-chain asset trades. |
| An exchange built into the protocol | ✗ | No order book in consensus; Raven Trader posts half-signed swaps off-chain. |
| Cross-chain messaging the chain verifies itself | ✗ | No cross-chain feature in the protocol. |
| Non-fungible tokens | ✓ | Unique assets (NAME#tag, supply of exactly one) in consensus since the November 2018 asset activation. |
| Decentralisation | 9.5 | section average, 7 of 8 measured |
| Censorship resistant (Source) | 10 | No authority can halt the chain or freeze funds: No party can freeze RVN; restricted-asset freezes apply only to tokens their issuers create. source |
| No central team (Source) | 10 | No central team: Volunteer community developers maintain RavenProject/Ravencoin (MIT); the Ravencoin Foundation supports but does not control it. source |
| Who can mint (Source) | 10 | Proof of work: 10 of 10 on the ladder of who produces blocks |
| Nodes (Source) | 6.8 | 109 reachable nodes (distinct IP addresses at the chain's tip, crawled by CoinSpectrum on 2026-10-27; clearnet only) |
| Holder concentration (Source) | — | Not yet measured |
| Premine (allocated at launch) | 10 | Fair launch: no premine |
| Fundraising | 10 | No sale of the coin |
| Developer share (after launch) | 10 | No developer share: every new coin goes to the miners who produce blocks |
| Supply & Demand | 6.4 | group average |
| Supply & Demand (Source) | 6.8 | average of 6 measures |
| Exchanges (10 or more: 10) | 10 | 11 exchanges |
| Daily volume ($10K 0, $1B or more 10) | 4.5 | $1,740,072 traded in 24 hours; #480 by volume on the exchanges the site reads (scored on the median day of the last 30, $1,815,406) |
| Turnover (volume ÷ market cap, 5% a day: 10) | 9.2 | 7.2% of its market cap a day, median of the last 30 days |
| Order-book depth (bids and asks within 2% ÷ market cap, 1%: 10) | 8.8 | $103,993 within 2% of the price on 5 exchanges, 0.42% of its market cap, median of the last 2 days |
| Market cap ($1M 0, $10B or more 10) | 3.5 | $24M, 3.5 on a scale of 2.5 points per tenfold |
| Paper trading (futures, options and margin ÷ market cap, 0%: 10, 100%: 0) | 5 | futures, options and margin positions 25% of its market cap |
| Supply (smaller is better) | 6 | fixed maximum supply of 21 billion |
| Record | 5.7 | group average |
| Record (origin, claims, halts) | 9 | 2 positive, 1 negative source |
| Positive record | ||
| Launched with a stated purpose, not as a joke | ✓ | |
| No claims by its founders that contradict its own design | ✓ | |
| Negative record | ||
| Halt, freeze or reversal, 2026-08-07 | ✗ | A KAWPOW header-validation bug let blocks be mined without the full proof of work; the majority pools rebuilt the chain from block 4,487,775 with a checkpointed patch (later Ravencoin Core 4.8.0), leaving about three days without canonical blocks and reorganising away the blocks mined meanwhile. |
| Age (years since genesis) (Source) | 8 | 8 full years since 2018-03-10, the first day with a recorded price (genesis not yet researched, so the age can only be understated). |
| Development (work, improvements, unfixed issues) | 0 | 2 positive, 7 negative source |
| Positive | ||
| Steady work, 2 of 6 | ✓ | 6 commits in 1 of the last 12 months (github.com/RavenProject/Ravencoin); RavenProject/Ravencoin v4.8.0, 2026-08-19; only 2 releases in 24 months. |
| Shipped a security fix in two years, +1 | ✓ | Ravencoin v4.8.0, Aug 2026: fixed an asset-transfer quantity overflow and a mining bug exploited on mainnet on 7 Aug 2026. |
| Negative | ||
| Unfixed vulnerability, disclosed 2024-07-03, −1 | ✗ | CVE-2024-52914: crafted orphan transactions can stall the node for hours in the uninterruptible orphan-resolution loop; still in Ravencoin v4.8.0. |
| Unfixed vulnerability, disclosed 2024-07-03, −1 | ✗ | CVE-2020-14198: misbehaving peers are auto-banned into an unbounded ban list, so many attacker addresses can exhaust CPU and memory; still in Ravencoin v4.8.0. |
| Unfixed vulnerability, disclosed 2024-07-31, −1 | ✗ | CVE-2024-52919: addr-message spam can overflow the address manager's 32-bit id counter and crash the node, with no addr rate limit; still in Ravencoin v4.8.0. |
| Unfixed vulnerability, disclosed 2024-09-18, −1 | ✗ | CVE-2019-25220: a long low-difficulty header chain can exhaust memory because the node has no headers pre-synchronisation; still in Ravencoin v4.8.0. |
| Unfixed vulnerability, disclosed 2024-10-08, −1 | ✗ | CVE-2024-35202: a crafted blocktxn message trips the assert in compact-block reconstruction and crashes the node; still in Ravencoin v4.8.0. |
| Unfixed vulnerability, disclosed 2026-05-05, −1 | ✗ | CVE-2024-52911: a crafted invalid block can make script-check threads read freed precomputed transaction data and crash the node; still in Ravencoin v4.8.0. |
| Exploit of the chain, 2026-08-07, −1 | ✗ | An attacker used a gap in KAWPOW block-header validation to have blocks accepted without real proof of work from height 4,487,776; pools rebuilt the chain from block 4,487,775 (about a three-day reorg) and Ravencoin v4.8.0 fixed the bug. |
Twenty criteria, weighted equally. The Cryptocurrency Standards have six sections: sound money qualities (six checks: scarcity, durability, fungibility, divisibility, portability, verifiability), privacy (five checks), scalability (four measures and three features), security (miner pay and seven checks), programmability (token issuance, smart contracts and five checks) and decentralisation (censorship resistance, no central team, who can mint, nodes, holders, premine, fundraising and developer share). Provisional: criteria marked — are not yet measured and are left out of the average. A rating of structure and market depth, not a price forecast or investment advice. How the grade is built · Highest-graded cryptocurrencies.
16,535,167,325 of a maximum 21,000,000,000 RVN are in circulation — 78.7% of the total that will ever exist.
No premine. No premine, no founder allocation, no public sale — the chain started empty and every coin was earned through mining or validating.
Ravencoin is secured by 629 GH/s of its own work. Hashrate does not compare across algorithms — a SHA-256 hash and a Scrypt hash cost different amounts to produce.
No SEC/CFTC determination — unclassified.
The regulator's position, reported as stated, not CoinSpectrum's. Assets nobody has ruled on are left unclassified rather than sorted by a guess.
Ravencoin is #117 among cryptocurrencies and #767 in the market ranking, which lists wrapped coins, staked derivatives, stablecoins and tokens alongside them. CoinSpectrum counts an asset once, and counts only cryptocurrencies: assets with their own blockchain and their own consensus. A wrapped coin, a staked derivative or a stablecoin is a claim on something already counted; a token, memecoin or otherwise, runs on another chain's blocks. All of them are listed, each in its own section, and none is added to the total. The 650 places between Ravencoin's two ranks are held by claims and tokens, not by other networks. The methodology sets out the rule and the counting rule argues for it.
The price above is the median of the exchanges the site reads live, checked every minute and cross-checked against a market snapshot (how market data is gathered). The grade is scored on published criteria, each with its source (the method). The site is independent, nothing on it is a paid placement, and its statements are signed (about CoinSpectrum, the manifesto).