Presentation and definition of the crypto-currency, Reddcoin (RDD)
- Name of the crypto-currency : Reddcoin
- Initials : RDD
- Where to buy Reddcoin ? Binance
- Creation Date : January 2014
- White paper of Reddcoin
- Web Site of Reddcoin
The network Reddcoin
Reddcoin is a crypto-currency that allows the exchange of peer-to-peer, without a central authority. The social networks are at the heart of the project of Reddcoin. The developers aim to make it accessible and easy the crypto-currencies to the general public, through a social platform. The objective of this social platform is to be able to directly switch over to other social networks from the interface Reddcoin, and be able to send and receive easily from the virtual currency. The basic idea behind the concept is to be able to “reward” the content posted by the users by sending Reddcoin.
The protocol PoSV
The protocol Reddcoin uses the consensus PoSV, which corresponds to the speed of validation of the PoS (proof of stake, proof of participation). So the aim is to encourage both users to hold Reddcoin to maintain activity on the network. Thus, to validate a block and get the rewards corresponding, a member must have tokens to RDD and put on his wallet. This process helps to avoid the excessive consumption of electricity necessitated by the blasting. On Reddcoin, the validation block takes 60 seconds.
The network allows you to send “tips”. It is micro-payments as a reward. Thus, one can send a tips to a content creator to thank him for example, for a video he allegedly posted.
This feature allows you to associate on the blockchain in a user name to make it easier for all users to send money to other members.