What Is Reddcoin (RDD)?
Reddcoin (RDD) is a blockchain platform designed for personalized IDs and social media tipping. Users create a ReddID and link it to social accounts like Reddit, Twitter, and Facebook. From there, a Chrome browser extension enables one-click tipping on social posts. Now your “likes” and “favorites” on these platforms can actually translate into a profit. RDD is the native cryptocurrency coin of the Reddcon platform.
RDD tipping not only increases engagement, but it rewards users of social platforms for creating the very content that makes them popular. In short, Facebook is only Facebook because we made it so, but we gain nothing from it. Reddcoin hopes to flip that paradigm.
Who Is Reddcoin?
Reddcoin was created in 2014 and team members include John Nash and Leonard Simonse. There are about a dozen team members now, and they’re working aggressively on the roadmap. Progress can be easily found online at GitHub and Trello.
The project isn’t associated with Reddit, or any social platform, for that matter. The team is simply connecting to publicly available APIs for these platforms.
Use Cases of Reddcoin
Social media is the most-used feature of the internet, with 3.48 billion people (nearly half the world’s population) using it. Unfortunately, we get nothing from using these platforms. And we should. Reddcoin fits in that sweet spot between microinfluencers and peer-to-peer payments. The average website makes $0.01 for every 1000 views, and the average person has less than 500 Facebook friends.
This means micropayments enabled by cryptocurrencies are the solution to a problem we’ve all been having, even if it wasn’t noticed by everyone.
How to Mine RDD
RDD is mined using a Proof-of-Stake-Velocity (PoSV) mining algorithm. This system rewards both hodlers and network users equally, balancing the economy and preventing a 51% attack.
The total token supply is uncapped, and it reached an all-time high value of $0.032391 on January 7, 2018, according to CoinMarketCap.
Learn More About Reddcoin
If you want to learn more about the Reddcoin, check out this comprehensive intro guide at Coin Central. Or check out this comprehensive analysis report on the Golem blockchain project on Thought for Your Penny.