Are there any security measures built into the protocol to protect users from malicious actors ?
Yes, there are several security measures built into the Ravencoin protocol to protect users from malicious actors.
The first measure is the use of a Proof-of-Work (PoW) consensus algorithm. This algorithm requires miners to solve complex mathematical puzzles in order to add new blocks to the blockchain. This makes it difficult for malicious actors to manipulate the blockchain or double spend coins.
The second measure is the use of a deterministic masternode system. Masternodes are responsible for verifying transactions and maintaining network consensus. They are incentivized with rewards for their work, which helps ensure that they remain honest and reliable.
The third measure is the use of a multi-signature wallet system. This system requires multiple signatures from different users in order to approve a transaction, making it much more difficult for malicious actors to steal funds or manipulate transactions. Finally, Ravencoin also utilizes a variety of other security measures such as replay protection, secure messaging, and encrypted data storage on the blockchain.
All of these measures help ensure that users can securely and safely transact on the Ravencoin network without fear of malicious actors taking advantage of them.
