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Coin Watch: What Has ReddCoin Been Doing These Days?

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ReddCoin
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While Bitcoin is the largest cryptocurrency in the market, it is one of the most controversial coins in the present time. With Bitcoin’s price hitting a low, the cryptomarket plunged into a major depression. Bitcoin, which uses the proof of work algorithm to regulate the blockchain operations, has been supplanted by many other improved blockchain projects, which more advanced algorithms, such as proof of concept and proof of stake. Regulated by the advanced proof of stake velocity (PoSV) algorithm, ReddCoin is much more than social currency. Representing the next generation of blockchain technology, ReddCoin caters to the all the functions pertaining to ownership (stake) and activity (velocity).

Derived from Litecoin, this renowned peer-to-peer open source cryptocurrency can be integrated into all kinds of social media platforms. With the motto of becoming “the social currency that enriches people’s social lives and makes digital currency easy for the general public,” ReddCoin represents the social media coin in the digital age. Operational since 2014, ReddCoin has experienced a steady growth across all digital platforms, from Reddit to Twitter. If you are missing out on the latest news on this formidable altcoin, here’s an insight into how it has been performing in the recent time.

The Technology behind ReddCoin

When compared to the existing PoW and PoS protocols, the proof of stake velocity (PoSV) offers more competent solutions to users, building upon the advantageous attributes of PoS to mitigate the flaws in the earlier algorithms. Apparently, the PoW and PoS algorithms come with a number of flaws, including the disconnect between the economic and social aspects of a currency. Encouraging ownership and activity, the PoSV algorithm leverages the advantages of the existing protocols to develop a more advanced blockchain solution for social media applications.

  • ReddCoin: the Online Tipping Currency

Developed with the aim of bringing the cryptocurrency closer to social media and the masses, ReddCoin was not built to draw wealth from various sources, but rather to serve as a quintessential tipping currency. ReddCoin followers have the opportunity to use the currency for tipping campaigns on Twitter, targeting followers with backgrounds in cryptocurrencies. Similarly, Reddit users can tip ReddCoins in appreciation of interesting posts and comments on the ReddCoin community. Besides, the ReddCoin followers can tip RDD coins on Twitter appreciating relevant posts.

  • ReddCoin Broadcast

As an attempt to make a foray into the mainstream social media, the ReddCoin executives introduced the ReddCoin Broadcast feature in April 2014. Serving as a Thunderclap-like platform, ReddCoin Broadcast is a powerful medium for sending messages across prominent social media channels, including Facebook, Twitter, and Tumblr. As for the ReddCoin community members, they can deploy Broadcast free-of-charge to expand their reach, soliciting support for their projects from influencers.

  • Social X

Functional since 2014, Social X operates as a multi-faceted project, which strives to bring ReddCoin closer to the mainstream media by eliminating the limitations of the existing systems. By all means, Social X works towards making tipping easier, while eliminating any third-party intervention.

Development Updates

As evident from the current trends in the market, it has been a robust year for altcoins so far, prompting investors to shift their attention from the big market movers to the lesser known projects. Among the top performing altcoins of 2018, ReddCoin has done an impressive job, launching exciting features and payment processors for the community. Popular as a social cryptocurrency, this promising blockchain networks attempt to keep their audience in the loop by launching effective campaigns. Known for its efforts in establishing a great user experience, the ReddCoin team has introduced some exciting developments recently. Looking at the developments of the past few months, there have been some interesting upgrades on the blockchain, which include listings and partnerships. As per the latest updates, ReddCoin has been recently added to Bitvavo and AssetExchange. Apart from these listings, ReddCoin ecosystem has expanded its horizon by tying up with big names in the industry, such as Musards and Phore.

ReddCoin and the Market 

With Ethereum and big currencies crashing their value in a falling crypto market, altcoins like ReddCoin has also received a setback. However, as per at the price charts of the last few weeks, the coin has recovered appreciably, taking its market capitalization to $135,119,779 as of June 27, 2018. Although the coin is trading in the red, dropping 2.91% from its previous position, the overall performance of the coin has been satisfactory, making it one of the most vied-after currencies of the present time.  Ranking 7th by market capitalization, ReddCoin (RDD) is trading at $0.004690 at the time of writing. Looking at the market response and the developments in the ecosystem, the coin can make a strong comeback in the coming days, actualizing its mission of becoming the one of the world’s largest digital platform for social media integrations.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Adaptalux via Flickr

Blogs

What Changes May the Crypto Space Experience in 2019

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After the crypto hype of 2017, a lot of newly-arrived crypto enthusiasts were caught off-guard by the price crash and bear market that took over in 2018. One month after another, investors were waiting for things to change, and for another bull run to take place. Unfortunately, this did not happen in 2018, and while the year’s final days were seemingly stable, the rally everyone wanted to see has failed to arrive.

However, crypto investors remain optimistic, with many of them hoping to see some changes arrive in 2019. There are rather great expectations of this year, especially since the last one failed to deliver. However, many are interested in what exactly is to be expected in this year, which is what we will talk about today.

Bitcoin ETF approval

The US SEC’s decision regarding Bitcoin ETFs was one of the most anticipated events throughout 2018. Sadly, the decision constantly got delayed, and the SEC never actually provided an answer. The last delay has pushed the decision into 2019, and it is now expected to arrive on February 27.

Historically, the SEC was never ready to approve Bitcoin ETF, and many believe that the delays came due to the fact that the market was not ready for then in 2018. This is backed by the fact that the SEC rejected multiple application throughout the year. VanEck and SolidX…

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Reasons Why 2019 May Be A Great Year For Crypto

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The new year was always considered to be a time of new beginnings, where people can reflect on the past and learn from their mistakes in order to be better in the future. The same is true for the world of crypto, and investors around the world are hoping for 2019 to be better, more profitable, and to have more success than 2018.

The hope for the future is even more important when we consider all the negative development in 2018. There were numerous high-profile hacking attacks, two market crashes, with a strong bear market in between. Not to mention that some of the biggest projects that may have brightened the year a bit ended up being delayed.

With that in mind, it is understandable why investors are looking forward to the new year and all the potential development that it may bring. In fact, there are several reasons why they should be excited about 2019.

1) Bearish market to loosen its grip

The first reason why 2019 can be a good year digital currencies is that it may finally break free of the bearish grip that has been felt ever since last January. Following the first market crash, the bears settled in, and the prices kept falling for an entire year. The market attempted to shake off the negativity on several occasions, with the biggest one being…

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Blogs

3 Coins with the Largest Potential in 2019

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2018 has been a pretty bad year for digital coins, and after the initial market crash that occurred a year ago, everyone was expecting a bull run that will fix things. Obviously, it never arrived, and instead of that, all that crypto market experienced was an entire bearish year and another crash in mid-November.

Now, however, it is a brand new year, and attempts to shake off the bears’ grip can be seen even in these first two weeks. The market is still struggling and mostly losing value, rather than gaining, with most coins being in trouble once more. Still, a lot can happen in a year, and most investors remain optimistic regarding 2019. Here are some of the coins that are believed to have tremendous potential, and to be the hope of this year.

  1. Bitcoin (BTC)

Of course, Bitcoin comes first. This is the first cryptocurrency which is still dominating the market, with no other coin being even close to its market cap or price. BTC is the coin that has reached the most prominent heights, and it also lost the most in the previous year. However, there is still hope, as there are several projects and events scheduled for this year that might turn things around for the number one coin.

One thing that is expected is the approval of Bitcoin ETFs…

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