Here is another coin that has a goal of bringing cryptocurrency to the masses. Its being dubbed “The Social Currency”. Reddcoin is linking social media and crypto together with their platform. The way their doing it is by adding an additional gesture to social media. So instead of just upvotes, likes, shares or retweets, you will also be able to micro-tip. Just as the title says it, once you select micro-tip, the creator gets paid in reddcoin and the best thing about it is zero transaction fees.
Reddcoin Start
Reddcoin was announced to the public on January 20 2014 and was launched on the 2nd of February 2014. After the announcement of Reddcoin, the platfrom introduced an Initial Public Coin Offering (IPCO). During that time 5.45 billion Reddcoin IPCO were bought and over the following weeks after launch the coins were distrobuted to the investors.
At the beginning to earn Reddcoin besides buying it, was to mine it. Reddcoin started as Proof of Work (PoW) but ming ending on August 2, 2014 when Reddcoin switched to Proof of Stake Velocity (PoSV). The change came as a response to the increasing power consumption needed to mine. Staking is a process which coins are stored in a wallet connected to the network. As more wallets connect the stronger and faster the network becomes. Block rewards are generated and given out depending on how much is being staked in each wallet.
What Social Platforms will Utilize Reddcoin?
The developers of Reddcoin plan on inigrating their coin into all the major social media platfroms to include Facebook, Instagram, YouTube, Twitter, and Reddit.
Reddcoin Current Price
With the recent downtrend, Reddcoin has dropped to $0.012 with a market cap of $346 Million.
I am not registered as an investment adviser with any federal or state regulatory agency. The Information should not be construed as investment or trading advice and is not meant to be a solicitation or recommendation to buy, sell, or hold any cryptocurrencies. The information provided for informational and educational purposes only.
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