Ravencoin (RVN) a Few Days After the Fork to the X16Rv2 Algorithm

5 Oct

A few days have already passed since the fork of Ravencoin (RVN) on October 1st that included a change in the PoW algorithm used for mining – from X16R to X16Rv2. As you can see from the network hashrate graph above from Ravencoin Statistics it is still lower than prior he spike from end of Agust/beginning of September. This means that the fork has effectively affected the usage of what seems to be ASIC miners that went operational at the end of August that resulted in more than doubling the hahsrate in just a few days of time. Another sign that there are no more ASIC miners mining and dumping coins is the fairly stable price of RVN after the fork with no selling pressure on exchanges from such miners trying to get rid go the mined coins. As a result RVN is among the most profitable coins to mine for Nvidia GPUs at the moment after the fork, even if the profit is nothing to brag about, pretty much all the rest of the altcoins are doing worse…

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