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Reddcoin shuts down criticism by partnering with Phore

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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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Blogs

3 Things to Avoid if You Want Your ICO to Succeed

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Initial Coin Offerings, or ICO, have become quite popular in 2017, which is something that also continued throughout 2018. In fact, there were hundreds, if not thousands of them so far. However, no matter how many of them were organized, most never managed to make it into the market and achieve their goals.

Analysts claim that there are a lot more failed ICOs than there are successful ones, which has caused a lot of people to simply give up on the idea. However, many are still curious to know what went wrong, and while failed ICOs can be studied for years without discovering absolutely every flaw, some of the bigger ones can be spotted right away.

This is why we will now list top three reasons why so many ICOs failed, and everyone who is thinking about launching one should pay close attention.

1. The lack of demand for the product

According to estimates, around 60% of ICOs often fail at the first stage simply for the lack of interest in what they offer. When someone comes up with an idea and launches an ICO in order to raise money, they are presuming that people will be interested in investing in this idea. In addition, prior to making an announcement that an ICO is coming, it is wise to ensure that the announcement will be heard in the first place.

Additionally, ICOs need to be approved by appropriate…

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Bitcoin

Reasons Behind The New Bitcoin Crash

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Cryptocurrency investors and supporters experienced quite a shock last week with the latest Bitcoin crash. Almost every single one of top 100 cryptocurrencies trading in the red. Not only that, but most of them experienced massive losses, often larger than 12%, or even 15%.

The event was unexpected and all cryptos, with the exception of a handful of stablecoins, lost a large part of their value. However, as always, Bitcoin is the one receiving the most attention, especially since this is the first time that BTC has dropped below $6,000 in a long while. Right now, Bitcoin is still losing value, with its current price being at $5,503.11 per coin, and a drop of 12.76% in the last 24 hours.

After the initial shock, a lot of investors started wondering and researching the new crash. The main question still remains: Why did this happen?

While this is more than understandable, especially considering how much money, time, and patience people have invested in crypto, the reasons behind the new crash remain obscure to many. Because of that, we are now going to explain two events that are most likely to be causing this situation.

1. The selloff

This is believed to be the main reason for the new crash of Bitcoin. The selloff came as a consequence of the last year’s bull run, which has launched BTC and other coins to entirely new heights. Because of that, numerous…

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Altcoins

Here’s Why This Coin Still Has Wings (WINGS)

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WINGS, a decentralized crowdfunding platform based on the Ethereum blockchain, has had a great run over the past two months. Culminating in a peak of US $.23 just a few days ago, the currency behind the product has more than doubled since it’s lows of early September.

Despite the slight downturn WINGS is currently experiencing, this crypto-favorite may not be done running up the green candles on your favorite exchange just yet. A small drop like we had today was actually expected and could be considered healthy by long-term investors. These dips are also appreciated by those of us waiting to get in on a project we feel has real potential. WINGS has shown us that potential and is now presenting a great buying opportunity for speculators and traders looking for the next wave of support to lift this coin into the stratosphere.

What is WINGS?
WINGS was created to nurture project proposals via the Decentralized Autonomous Organization (DAO) model. Using blockchain networks and smart contracts, the platform allows the WINGS community to promote proposals with the greatest chance of positive returns. WINGS, in essence, is a decentralized forecasting ecosystem, where token holders are given an incentive to make choices concerning projects on the platform.

The DAO is a popular concept for crypto-projects that want to remain entirely on the web. Using the peer-to-peer technology of blockchain and smart contracts to enforce the rules of participation is…

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