Connect with us

Blogs

How ReddCoin is Enabling the Development of an Internet of Value

Published

on

ReddCoin Internet Development

There is no doubt that we are on the precipice of change with the advent of Blockchain technology. In fact, top technology influencers such as Mark Andreessen (a renowned investor in software companies) have called Blockchain technology the most important innovation since the beginning of the internet.

But could Blockchain itself as it paves the way for the internet of value when top cryptocurrencies such as Bitcoin and Ethereum are still struggling with the issue of scalability and interoperability.

Perhaps, it is cryptocurrencies such as ReddCoin that could be the game changer especially considering the backing of a Proof of Stake Velocity protocol on its Blockchain network. A Blockchain network that allows for inclusivity with the low barrier to entry on the mining side of the equation could be the catalyst to the internet of value. This is precisely what Redd coin is all about.

What is ReddCoin’s Proof of Stake Velocity?

The proof of stake velocity is designed as an alternative to both proof of stake and proof of work algorithms.

Basically, it is built such that activity (velocity) and ownership (stake) are encouraged on the network, therefore, enabling the ReddCoin to serves two purposes; a store of value and a currency.

Furthermore, it eliminates wastage of electricity during mining as experienced by other algorithms such as Proof of Work on Bitcoin’s Blockchain network.

How is this helpful towards an internet of value?

Well, glad you asked. Since Blockchain is built to cut out the middleman by distributing storage and validation of valuable assets (cryptocurrency, tokens or valuable digital assets and information) ReddCoin‘s POSV protocol is democratizing the Blockchain by ensuring less wastage in the mining sector and as a result improve affordability in mining and while building a democratic system of governance on any Blockchain.

Tipping platform

Other additional features that enable Redd coin to be at the forefront of an internet of value include its Tipping platform that is creating a decentralized system for social services and payments like never before.

Basically, with ReddCoin’s tipping platform, users can distribute their ReddCoin equitably to other users either giving the coins to miners, investors of an IPCO or even tipping to their friends and family. By this virtue, Redd coin is developing a robust communal base that will form a functional internet of value soon.

Redd Coin’s Web ID making it easy to spend crypto

Another revolutionary feature that puts Redd coin at the forefront of the development of the internet of value is the Web ID that it offers. With Web ID, Reddcoin users can use their username or a simple sentence to tip and spend their cryptocurrencies on any device as long as they have the Web ID.

That does not only make it easy for the mainstream public to take up the use of cryptocurrency but also eliminated the hurdles and complexities that are currently preventing scalability and mass adoption in the crypto space.

For the latest cryptocurrency news, join our Telegram!

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.

Chart courtesy of LeStudio via Flickr

Altcoins

My Crypto Heroes Announces Issuance of MCH Governance Token

Published

on

Tokyo, Japan, 24th November, 2020, // ChainWire //

My Crypto Heroes is happy to announce the issuance of MCH Coin as an incentive to players in the My Crypto Heroes ecosystem, aiming to allow them to craft a “User-oriented world”. The MCH coin is available on Uniswap with a newly created pool with ETH. 

My Crypto Heroes is a blockchain-based game for PC and Mobile. It allows users to collect historic heroes and raise them for battle in a Crypto World. Officially released on November 30th, 2018, MCH has recorded the most transactions and daily active users than any other blockchain game in the world.

What is MCH Coin?

MCH Coin is being issued as an ERC-20 Standard Governance Token. The issuance began on November 9th, 2020, with 50 million tokens issued.

Of the funds issued, 40% are allocated to a pay for on-going development and as rewards for advisors and early investors. 10% are allocated to marketing and the growth of the ecosystem, and 50% are allocated to the community. The Distribution Ratio of the MCH Coin is subject to change via a governance decision.

The MCH coin will be used as a voting right as part of the ecosystem’s governance, with 1 coin being 1 vote. It will also be used for in-game utilities and payments. Additional information can be found here:

https://medium.com/mycryptoheroes/new-ecosystem-with-mchcoin-en-a6a82494894f

During December 2020 the first governance…

Continue Reading

Altcoins

Rewards Platform StormX Offers 50% Crypto Cashback Bonus for Thanksgiving

Published

on

Singapore, Singapore, 23rd November, 2020, // ChainWire //

Blockchain-based rewards platform StormX has released a seasonal promotion for its award-winning Crypto Cash Back App. The promotion will allow app users to earn a 50% bonus on top of their cashback between Thanksgiving Day and Cyber Monday (November 26-30).

StormX has also introduced a brand-new staking service, allowing users to earn an additional 50% per year when they stake STMX tokens. The native ERC20 token of the StormX ecosystem, STMX has a total supply of 10 billion and is available to trade at many of the world’s top exchanges, including Binance and Bittrex.

“With Bitcoin’s price approaching its all-time high, interest in cryptocurrencies has renewed, though some people believe it’s now too expensive to buy in,” said StormX CEO and Co-Founder Simon Yu. “What we have done is create an easy way for such individuals to accumulate bitcoin, ethereum and other cryptocurrencies via everyday shopping.

“We’re also excited to provide users with the ability to earn greater rewards simply by staking their tokens.”

Since the StormX mobile app launched its Shop feature with over 700 stores in February 2020, some 400,000 unique users have been added to the rewards platform. StormX has also witnessed over 50% month-on-month growth for sales. The app is available for download on the App and Google Play Stores, and can be downloaded as a browser add-on from the Chrome Web…

Continue Reading

Altcoins

BITTREX GLOBAL CONFIRMS FREE TRADING AND LISTING FOR TOP DEFI TOKEN

Published

on

Valduz, Liechtenstein, 17th November, 2020, // ChainWire //

International cryptocurrency exchange promotes free trading and no gas fees for leading DeFi tokens

17th November 2020 — Bittrex Global GmbH. announced today 8 new DeFi tokens will be listed this week including:

  • UMA (UMA)
  • Aave (AAVE)
  • Balancer (BAL)
  • REN (REN & renBTC)
  • Kyber Network (KNC)
  • Band Protocol (BAND)
  • YF Link – (YFL)

Bittrex Global’s users can trade all of their DeFi  tokens with no trading or gas fees until 2021. The decision to enable free trading on Bittrex Global for DeFi tokens  follows on from the 1,000% growth of the DeFi asset class over the course of 2020.

The decision to enable free transactions will see more investors enter the Blockchain Act’s digital asset regulatory system, supervised by the Financial Market Authority in Liechtenstein (FMA) under the Due Diligence Act which requires traders to comply with the KYC/AML/CFT standards.

“The last year has seen huge growth in DeFi as an asset class and a number of significant milestones completed,” said Bittrex Global’s CEO Tom Albright. “As the asset class matures and more institutional and professional investors look at the fundamentals, we are likely to see increased demand and higher trading volumes for DeFi in 2021.

We’re really excited about what we’re seeing in the space and want to see these DeFi projects grow and help them build stronger platforms through increased adoption. Offering free trading fees…

Continue Reading

Press Release