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Coin Watch: What Has ReddCoin Been Doing These Days?

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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

Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

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Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

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SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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