What is ReddCoin (RDD)?
ReddCoin is a cryptocurrency set to make decentralized transactions a lot simpler and easier for all users, even those who don’t get how blockchain technology exactly works. Moreover, ReddCoin is using the phenomenon of social networks, so the developers see RDD as a social cryptocurrency. RDD is thus said to be made to enable easy and fast transactions throughout social media platforms, that way making decentralized transactions fun. Buy ReddCoin (RDD) India with BuyBitcoin.
This currency has mineable coins, so to improve the overall experience for miners involved in acquiring this coin through mining ReddCoin is using a different protocol rather than commonly used proof-of-work and proof-of-stake protocols.
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RDD coin is not mined instead; it is minted. Reddcoin uses Proof-of-Stake Velocity algorithm (PoSV) that was designed to replace Proof of Work (PoW) as the mechanism to verify transactions and create blocks. After the introduction of PoSV, the mining of the coin became obsolete. Furthermore, came the introduction of multipools; they mine the most profitable altcoins and convert them to RDD coins for you.
Key Features of Reddcoin
- Reddcoin is a social cryptocurrency that can be integrated with many different social media platforms for sending/receiving money with zero fees.
- It’s a peer-to-peer open-source cryptocurrency derived from Litecoin.
- It dedicates much of its efforts to facilitate the “tipping” of small amounts of RDD on social networks, done in a similar fashion to “liking” a post on FB.
- The PoSV algorithm is a new take on PoS which encourages both ownership (stake) and activity (velocity).
- Its tipping system has already been enabled on Twitter, Reddit, Twitch, and Justin.TV.
More about Redd
In fact, Reddcoin will enable users to tip content creators with something of value, RDD coins, rather than just liking a picture they have posted, an article that they have written or double tapping a wonderful piece of art they have posted, Reddcoin gives value to their work. Therefore, it creates an easy tipping system that is integrated with all highly recognized and often used social networks to make the exchange of tokens simple to the user and the receiver. It allows the creation of real, monetary incentive for the sharing of useful information.
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It’s hard to predict the future of Reddcoin. On one hand, it seems a bit odd that we would tip people on social media when we could just show appreciation by “liking” their content. But we do tip people for almost everything else in the United States, so why not content? The Steemit social media platform has already found success in its similar feature, which pays users in STEEM for creating and curating content, so it’s not unreasonable to see the trend spread.
Buy ReddCoin (RDD) India
BuyBitcoin will soon add ReddCoin (RDD) cryptocurrency to the platform Keep visiting for updates.
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