Reddcoin (RDD)

Mkt. Cap.
$ 18.838 M
Vol. 24h
$ 4.972 k
Open 24h
$ 0,00
Low/High 24h
$ 0,00 - $ 0,00
Since
02/02/2014
Circulating Supply
29 396 050 914
Total Supply
27 500 000 000
Hash Algorithm
Scrypt
Generation
PoW/PoS
Difficulty Adjustment
Every 1 block
Block R.R.
50%

What is ReddCoin (RDD)? Information for Miners and Investors

ReddCoin (RDD) is another decentralized cryptocurrency that was launched in 2014. The main aim of RDD creators was to invent an easy and secure way to perform money transactions. It was tailored for those users who use such social platforms as Twitter, Facebook, YouTube, Reddit and Twitch TV.

How does it work?

As we have mentioned above, ReddCoin is mostly focused on the social media. It means that if you like someone’s content posted on Facebook or Twitter, you may send some RDD coins to him with no transaction fees. This may be considered as tips for high-quality and interesting posts, which brings benefits to active users as well as to the social platform as a whole. To do so, you only need to download and install the application. Due to the fact that RDD is used on the social media websites, it doesn’t have any competitors in the world of digital money.

The algorithm used in this network is Proof-of-Stake (PoS). PoS doesn’t rely on mining but rather on staking. It cancels all costs connected with energy-consuming process of mining and doesn’t require any expensive equipment.

RDD features

ReddCoin is the first digital asset to fill the social currency niche. People use it to approve and strengthen their social interactions and influence on the web. That is why most cryptocurrency experts predict big future to this project.

Also, the PoS algorithm ensures that as long as you have your RDD wallet connected to the network you will be rewarded with staking percent. The amount of the reward depends on how many coins you have and the time period you own them. The more RDD you hold and the longer you do that – the larger rewards you will receive. ReddCoin does so to encourage users to stay in the network and therefore maintain its proper functioning.

The social media innovation

RDD offers users to go far beyond “Share” and “Like” buttons since it allows you to send money to people you really admire. Followers have an opportunity to demonstrate their interest and appreciation by sending coins to the famous bloggers, as well as their friends and families. These may be perceived as small donations for the content creators or pleasant gifts to people you like.

ReddCoin’s wallets

ReddCoin has an official wallet that can be installed on Linux, Windows, and Mac OS. Currently, this company is developing different strategies to make its native crypto wallet more socially adapted, incorporating new features for popular platforms. The wallet provides users with all traditional functions available at any other similar software. ReddCoin’s wallet is simple and stylish. It functions as a desktop app as well as a front-end.

Currently, RDD doesn’t make deals with any particular social network. It is more like a browser extension for Chrome which allows you to send tips on Twitter or Facebook. As the RDD developers claim, they have no desire to establish partnership relations with any particular company because the contract conditions will put the limits on their activity. Instead, ReddCoin wants to make the tip app available for everyone no matter what platform they prefer.