ReddCoin (RDD) cryptocurrency
ReddCoin is based on its own blockchain, although its structure is a fork of Litecoin and is based on the Scrypt algorithm. RDD is focused on integration into social networks. The integration plan involves the process of ReddCoin intervention in all social networks from YouTube, Instagram, Twitter, Facebook to local communication sites. The goal of the developers is to monetize content and user communication, replacing “likes” with tangible digital currency that can be spent within the system and also displayed in fiat. With this approach, every post, video or comment has the potential to generate profit. The received ReddCoins can be used in all social networks connected to the system through the purchase of goods and services, bonuses and stickers. It is also possible to use RDD in games, transferring funds from one application to another.
ReddCoin (RDD) Review
The CEO/COO of RDD is Jay Lawrence. ReddCoin was released to the public on February 2, 2014 after raising over $100,000 in IPCO funding (an IPOC is comparable to an IPO, the difference is that coins replace shares). Following IPCO RDD in 2014, the founding team decided to retire and liquidate all funds and coins held, turning Reddcoin into one of the first all-volunteer, community-funded altcoin teams that continued to develop the Reddcoin concept. On April 29, 2014, the team announced that ReddCoin would be switching from PoW (Proof-of-Work) to PoSV (Proof of Stake Velocity). The maximum possible number of RDDs that will be issued is 109 billion.
Advantages of ReddCoin (RDD)
- Microtransactions. The ReddCoin system allows you to make small transfers, taking into account the low commission and low cost of cryptocurrency .
- The official RDD wallet is supported by all major operating systems, including Windows, Mac, Android and Linux.
- Popularization. Social networks are convenient for many people. Thus, the integration of cryptocurrency into such platforms will allow everyone to understand the working principle of digital currency and use it at their own discretion.
- By storing ReddCoins in a specialized wallet, the user will receive incentive bonuses. At the first stage, the payment amount will be 5% of the available amount.
Disadvantages of ReddCoin (RDD)
- ReddCoin has many competitors in the content creation space.
- Cryptocurrency is still not integrated with most social networks.
