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Reddcoin – Detailed Review
Reddcoin is a decentralised cryptocurrency that is built primarily for social media platforms like Facebook, Twitter, Youtube and Twitch. The main purpose of RDD is to facilitate sending and receiving money on social networks, mainly in the form of tipping good content creators.
Reddcoin does not plan to partner with any major social media platform. Also, It will instead build out the platform to be easily integrated with any social media site. Thus, users can send Reddcoin to anyone with a public Reddcoin wallet too.
How Does Reddcoin Work?
Reddcoin uses something called the Proof-of-Stake Velocity. It is an innovative algorithm that encourages both ownership (Stake) and activity (Velocity). PoSV eliminates wasteful consumption of electricity for mining found in PoW. Then, the Velocity factor also encourages users to be more active on the platform.
Eventually, Reddcoin wants to be the standard for a Social Currency. By integrating into all social media platforms, RDD can represent a “like” or “upvote”. Instead of just getting a like, content creators can receive a small tip in RDD. Reddcoin makes digital currency easy for the general public. By integrating a digital currency platform seamlessly with major social networks, sending and receiving tips and micro-transactions are cheap, fast and rewarding for everyone.
What Separates ReddCoin?
Also, The plan for RDD is to essentially be the internet’s official “like” button. Can you imagine being tipped on Instagram for your picture upload, on Facebook for your location check-in. Then, YouTube for a silly video you uploaded, on Reddit for your witty comment, etc? Now imagine being able to exchange those Reddcoins instantly for physical goods or gift cards. Or even transferring all your Reddcoins to a game you love playing too. Also, You would be getting paid for things that take zero effort or that you are probably already doing for free anyway.
Finally, If you have concluded that this is the coin for you, congratulations! Buy RDD here.