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The Rising Popularity of Reddcoin as a Social Media Currency

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Reddcoin

Reddcoin which has been marketed aggressively as the “social currency for the digital age” has emerged as a unique cryptocurrency specializing in transactions on social media. The team behind Reddcoin has designed the currency in a way that it can be transacted across all social media platforms. Reddcoin currently aims to enable 2.8 billion people to carry out transactions smoothly and swiftly.

Reddcoin partners with Reddit

Reddcoin has very recently launched a Q and A session on Reddit. This development will help people to find answers to their numerous queries and quench their thirst for knowledge in various fields. The team behind Reddcoin has not just touted this session as a simple question and answer but has given it a unique branding called “AMA”(Ask Me Anything) through a Reddit official press release.

All crypto projects are in need of such initiatives. All throughout the crypto-sphere, project team leaders and application developers have been reaching out to their followers through their various social media platforms, in order to widen the engagement of the crypto-users as much as possible. The Reddcoin (RDD) team has been requesting its users to upload their queries and questions on the link provided with the Reddit announcement. The answers will be posted on the Reddit platform as well. The team behind Reddit is attempting to get more and more of its users active across several available platforms like Telegram and Slack. The press release also announces a team which will be setting up a public Google hangout which will allow everyone to have constructive interaction with the developers of these projects.it should be noted that the availability of the project’s roadmap might be used to guide the Reddcoin users regarding the questions they might be wanting to pose. The roadmap is partitioned into the conventional short-term (Q1-Q2), medium term (Q3-Q4) and long-term (2019 and after that) goals.

It is a fact that the Reddcoin project has been shelved by its original application development team. The newest team has been committed to the revival of the project. The following have been announced through the recent announcements.

  • In order to ensure that the project does not face any legal hassles, the development team of Reddcoin has formed a Reddcoin Global LLC which is based out of United States and works strictly as a foundation entity. The SEC is attempting to bring cryptocurrencies, ICOs, and other virtual exchanges under strict regulation. Hence it is practical that the team takes the required action in exhibiting advanced amenabilities towards the SEC in case they are closed down over trivial issues. This entity will be equipped to deal with all the global finances that are necessitated by such projects.
  • The Reddcoin team has also restructured the roadmap of this Reddit project.
  • The project has incorporated 4 new members to the team and motivated users of Reddcoin to freely interact with them on the various chat platforms available on social media. These members are all social media moderators and experts in their fields.

Using this background of information, active Reddit users are being repeatedly encouraged to log into Reddit and ask any kind of questions. The thread on Reddit already has received some brilliant insights from its users but one of the most important for any project is the marketing agenda of the project and how the development of the team is working with the goal of bolstering the visibility of Reddcoin as well as strengthening the Reddit project globally.

The mechanism behind Reddcoin

Like most other cryptocurrencies, Reddcoin works on a digital peer-to-peer network but it is a little more distinctive. The platform of Reddcoin was essentially established to serve the purpose of transferring payment and funds transfer via social media. Reddcoin was designed to function on all social media platforms. This means that people who run and promote their businesses on social media platforms can now receive and transfer funds using whichever platform they want.

The minting process of Reddcoin

Another characteristic that lends uniqueness to Reddcoin over other virtual currencies is that coins on this platform are not mined but minted. The process of minting only necessitates an unlocked wallet containing RDD coins.

Conclusion

Partnering with Reddit is a highly positive step for Reddcoin to gain more momentum in the social media space. This is because most crypto-traders and owners are regular users of social media platforms like Telegram, YouTube, Twitter, and Facebook. The AMA project will help Reddcoin to increase its user base significantly. The assimilation of social media into the payment mechanism of Reddcoin is a fruitful project. The network will keep on expanding owing to the fact any wallet holder who works on a computer can mint Reddcoin. Reddcoin holds immense potential to explode once people start using cryptocurrencies on social media to make transactions.

We will be updating our subscribers as soon as we know more. For the latest on RDD, sign up below!

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

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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