The KAWPOW hash function is designed to resist mining via application-specific integrated circuit chips (ASICs), expensive and specialized computer hardware that makes the mining process more profitable for industrial-scale operations.
The basic aim of the Ravencoin project is to create a blockchain optimized for token issuance. In particular, users are able to issue tokens with various characteristics such as being named without restriction and issued as security or as a collectible, in any quantity.
RVN coins are the internal currency within the network and must be burnt in order to issue token assets on the Ravenchain.
The KAWPOW algorithm was derived from ProgPOW and Ethash, with modifications, to improve the distribution of Ravencoin.