Reddcoin crypto is a digital payment currency that uses blockchains to handle payments through social media platforms.
What is Reddcoin?
In fact, Reddcoin will allow users to reward content creators with RDD сoins. Instead of just liking a posted picture or a well-written article, or just double-clicking on a beautiful photo of your liking, Reddcoin gives actual value to the work of the creators. Not only professional authors should profit from this, but all those who publish interesting contributions on the social part of the Internet. The result is a simple tipping system that integrates with all well-known and popular social networks. The aim of this is making the exchange of crypto coins easy for both the user and the recipient. RDD enables the creation of a real monetary incentive for the exchange of useful, attractive or urgent information.
What is behind Reddcoin cryptocurrency?
There is a small team of Internet activists behind Reddcoin. The stories of these members are not known in detail, but the value of their contributions to the blockchain development is significant. The development of Reddcoin blockchain began in 2014. At the time, 168.83 Bitcoins with a value of just over 100 000 USD were flowing into the project. The developers of the digital currency did not want to act as a partner of social networks. Instead, they had programmed enhancements to their own blockchain that allow micro-donations to be sent directly to the content producers on various social media platforms.
The Reddcoin vision is to reward positive social interaction. We are taking the standard upvote and converting that into something that is tangible and that has value.
John Nash, Lead Developer of Reddcoin
Reddcoin price as of January 18, 2019 (at the time of writing) is 0,001226 USD. The coin is placed 87th on Coinmarketcap with a total Reddcoin cryptocurrency market capitalization of 35 million USD and circulating supply of 28 billion RDD.
Reddcoin staking guide | Reddcoin staking reward
Let’s talk more about Reddcoin staking. How do you actually earn this coin? What algorithm did the developers use? What are the features of the process? It is important to start with the fact that the RDD coin is not mineable. Reddcoin uses the Proof-of-Stake Velocity Algorithm (PoSV), which is intended to replace the Proof of Work (PoW) for checking transactions and building blocks. The mining of the coin became obsolete after the introduction of PoSV. Add to that the introduction of Multipools, that mine the most profitable altcoins and convert them into RDD.
Reddcoin staking process is simple. The only thing you need is a Reddcoin wallet. Such a simple, yet essential detail can be provided for you at Guarda. Later during the process, the blockchain will give you a Reddcoin staking reward for holding coins in your wallet. Staking in Reddcoin earns users approximately 5% per year. The Reddcoin Staking Calculator can provide a more accurate estimate if you are interested in more detailed numbers. Your bonus interest rate depends on how often you stake and how long is your Reddcoin wallet for staking is staying online. Thus, the Reddcoin staking rate is considered as quite a good reward in the current conditions of an unstable crypto market.
Another feature of Reddcoin cryptocurrency is that there is no Reddcoin staking minimum. The staking process can be carried out daily. If you want to increase the efficiency of your investment, you can use the Reddcoin staking pool. Be noted that you cannot buy Reddcoin with USD or Euro yet. To get a coin you need to exchange it for Ethereum or Bitcoin.
There is a lot of potential in Reddcoin, but the basics still need to be explained to the ones who are willing to use it. Meanwhile, according to the Reddcoin news, the crypto is the future of blockchain technology in social tipping. Moreover, It shows a huge growth promise as the crypto market stabilizes with experts forecasting a future Reddcoin cryptocurrency price of 1 USD. Besides, it is expected that the price of the currency will continue to increase. Of course, there is no guarantee of that, but as early as January 2019, the demand for RDD has increased significantly. This offers investors a great opportunity to buy in the future and to make massive profits both from investing and staking.