Ravencoin's token has sunk to a record low after a network exploit put transactions at risk. Mining pools that control most of the network's hash rate are now building a competing chain, a move that could trigger a three-day reorganization of the blockchain.
The exploit and its fallout
The exploit, which has not been publicly detailed, leaves transactions vulnerable. In response, the mining pools that dominate Ravencoin's hash rate have decided they can't trust the current chain. Instead of patching the existing network, they're constructing a separate one from scratch.
That decision has rattled traders. The token's price fell to its lowest level ever, though the exact figure wasn't disclosed. The drop reflects a loss of confidence in a network that's now split between those who want to keep the old chain and those who are building the replacement.
Why a competing chain
The pools behind the competing chain control a majority of Ravencoin's mining power. That gives them the ability to outpace the original chain and eventually overtake it. Their plan is to launch a new chain that excludes the vulnerable transactions, effectively wiping them from the ledger.
But that comes with a cost. A competing chain with majority hash rate can force a reorganization of the existing blockchain. In Ravencoin's case, that reorganization could go back three days, meaning any transactions confirmed in that window could be reversed.
What a three-day reorg means
A reorganization of that depth is rare and disruptive. Blocks mined in the last 72 hours would be discarded and replaced with the competing chain's version of history. Payments sent during that period could vanish, and exchanges and wallets would have to reconcile balances against a rewritten ledger.
For users, the risk is immediate. If you received Ravencoin in the past three days, there's no guarantee it will still be there once the competing chain takes over. The pools haven't said exactly when they'll activate the new chain, leaving the network in limbo.
The unresolved question
The big unknown is whether the competing chain will actually win. The pools control most of the hash rate, but that doesn't guarantee the rest of the network will follow. If some miners stay on the old chain, Ravencoin could split into two separate assets, each claiming the same name.
For now, the pools are building. When they flip the switch, the three-day window will close, and the true state of Ravencoin's ledger will be decided. Until then, anyone holding the token is left waiting to see which chain survives.
