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.
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
Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors
When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat. These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor. But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.
Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace. The real benefit to trading in these offices is to participate in the free flow of trading ideas and information. Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed. Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?
While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.
Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors. The goal of the platform is to help newcomers shorten their learning curve,…
CoinFlip Scores Big with BRD Wallet Partnership
As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible. While many crypto users are extremely tech oriented, a lot of those on the sidelines are not. The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above. In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country. Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.
In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map. Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells. BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit. The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.
Cryptocurrencies are already making a huge difference around the world. Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…
Cryptocurrency Collateralized Debt Positions Are Growing in Popularity
While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle. Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance. One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess. That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS. These projects have managed to find a foothold in the market and have a better chance than most of staying there. While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.
What is a Cryptocurrency CDP?
In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount. There are several examples of this in our day to day lives. Auto title loans from large companies like TitleMax are extremely popular with consumers. Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has. The consumer can continue using their car as long as debt payments are made.
The same concept applies to cryptocurrency CDPs. Consumers are able to put up crypto tokens, such as…
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