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Reddcoin shuts down criticism by partnering with Phore

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Reddcoin

Over the past few weeks, Reddcoin has been laying low with only a few mentions in the crypto tabloids. Currently ranked among the top 100 cryptocurrencies on CoinMarketCap, Reddcoin has a market capitalization of about $140 million. The coin has been dropping steadily from its January high of over 900 million in market capitalization due to the dipping cryptocurrency market. However, most critics have moved to dismiss this social currency claiming that it has been overshadowed by the advent of new, faster and more robust cryptocurrencies that make it easy for the general public to spend crypto online.

Reddcoin’s counter move

To counter the opinion of critics, Reddcoin has managed to partner with Phore Blockchain in an effort to integrate RDD into eCommerce enabled Blockchain ecosystems. With this newfound partnership, Reddcoin will not only be used for tipping but will also deliver real-world use cases for buyers and sellers online while also enabling flexibility in online marketplaces.

Basically, Phore is a Blockchain that enables easy, flexible and reliable transfer of valuable assets across a network. Apart from having its own Blockchain, Phore also boasts of its own cryptocurrency(PHR) as well as a decentralized marketplace that is still in its beta stage but available for downloads and ready for use. Furthermore, Phore also has a flexible smart contracts platform not to mention a reward for participation program where platform users get an interest payment for using the platform. Eventually, Phore’s open beta marketplace is set to be a game changer and the partnership with RDD will see the two entities thrive by combining their collective user base.

The team’s response to the partnership

According to Thomas Ambler, who is a co-CEO at Phore Blockchain,

Phore’s partnership with Reddcoin will create more flexibility to buy and sell goods and services in the Marketplace for holders of both PHR and RDD, as well as give vendors more options as to which currencies to accept

Over the past few years, e-commerce has become quite popular with a variety of items available for buying and selling in online marketplaces. Reddcoin and Phore are looking to build a scalable and flexible marketplace with reliable, fast transaction between platform users.

John “Gnasher” Nash (the CTO of Reddcoin) has also expressed his appreciation for the partnership by saying that Reddcoin is “very excited about the partnership with Phore Blockchain and what it brings to the Reddcoin community”

Other Reddcoin developments

Apart from the partnership with Phore, the Reddcoin team has also been at work collaborating with Lindacoin. Lindacoin is an anonymous cryptocurrency that uses 70% proof of stake and stealth addressing to mask and secure transactions. By working together, the two cryptocurrency entities will enable RDD holders to stake RDD on their mobile devices while earning staking rewards.

Additionally, Reddcoin has been identified by the BITA 50 Crypto market index a one f the quality cryptocurrency projects currently available. This is one of the indexes mostly used by researchers and top institution to find worthy Blockchain and cryptocurrency projects. Reddcoin’s inclusion into the BITA 2018 index is a clear sign that RDD is alive and well with more developments to come in the future.

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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.

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Altcoins

My Crypto Heroes Announces Issuance of MCH Governance Token

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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…

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Altcoins

Rewards Platform StormX Offers 50% Crypto Cashback Bonus for Thanksgiving

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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…

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Altcoins

BITTREX GLOBAL CONFIRMS FREE TRADING AND LISTING FOR TOP DEFI TOKEN

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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…

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