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Redd Coin – The Current New Wave in Cryptocurrency World

Redd Coin – The Current New Wave in Cryptocurrency World

Social Media Currency
Reddcoin took birth in mid of year 2014. This decentralized cryptocurrency was custom made for social media platforms like Facebook, YouTube, Twitter etc. The main usage of Reddcoin is to make a working model of cryptocurrency easy and accessible to people with the help of social networks. Basically, the social network will help in processing transactions of sending and receiving money efficient and fast.
For example –If a post on Facebook has your big applause you can send some extra tip in the form of Reddcoin to the lucky user with almost zero percent transaction fees. This will motivate creators to put out rich content on social media platforms to earn Reddcoins which eventually will help in increasing the quality of these platforms.
Future Potential
Reddcoin is the only cryptocurrency which works with social media. Since working with social media platforms can make Reddcoin huge in future hence it has the most potential in the cryptocurrency market. Moreover, it would not face any competition with any other cryptocurrency. The active users of Facebook are around 2.5 billion per month, YouTube has over 2 million and Twitter has over hundreds of millions. It is foreseen that if Reddcoin becomes the cryptocurrency of choice for platforms like Facebook, Twitter and Youtube then it will beat every other cryptocurrency to the top.
Implementation of PoS (Proof of Stake)
Reddcoin implements Proof of Stake (PoS) to distribute coins throughout the network whereas other cryptocurrencies such as Bitcoin use Proof of Work (PoW). In PoS model coins are minted by “staking” and not by “minting”. Staking is relatively easy. Customers can download their Reddcoin wallet and can begin staking from their PC, mobile phone or Tablet.
As long as your wallet is connected to the Reddcoin network and contains Reddcoins, you will periodically receive staking rewards in the form of more Reddcoins. The more coins you own, and the longer you hold the coins in your wallet, the greater and more frequent the staking rewards. The advantage of PoS is it saves huge amounts of energy. This is because the PoS model erodes the need for mining coins, which requires massive amounts of energy.
ReddCoin Chrome Extention
The Reddcoin has not taken a particular social media platforms contract. Instead, it has created a Google Chrome Extension which will allow you to tip any posts you like on Twitter, Reddit or Facebook. They have pulled back their leg from doing such a thing as that it will limit their potential. In initial days you cannot predict a concept’s impact on future, hence tying it down would not have been great of a step.
The decentralization of Reddcoin works conceptually and practically very fine because any user can download and no pocket of power is there to control it. By developing a Chrome extension that works across all social media platforms, no one misses out on the great features offered by Reddcoin!
Reddcoin gives a Redd-ID when you download your wallet from Google Chrome extension. It is the service provided by blockchain where you get a username for your wallet which has the cipher keys and your identity. Now once you have downloaded you have become a part of a crowd-sourced marketing tool. This tool will eventually help the cryptocurrency market on business and influence level.Reddcoin ReddWallet is a State-of-the-art wallet that provides various social features to increase engagement among users which improves the security of the decentralized network.
It is very easy to start using Reddcoin.
Step 1: Get A Reddcoin Wallet.
Step 2: Get Some Reddcoin at the best Reddcoin exchange.
Step 3: Use Your Reddcoin.
Step 4: Stay Up-to-Date.
Featured image: Reddcoin youtube video snip

What do you think?

Written by Shalini Shikha

I am a passionate and creative content writer. I believe that a good research, constructive flow, and impeccable grammar make an article shine out. Hence I follow all three sutras while writing. I am a Software Developer by profession but my heart lies in writing. It gives me immense happiness to bake the words properly so as to present a crisp content.


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