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📝 Overview 📝
Reddcoin was launched as a totally fledged cryptocurrency for social media. Primarily, it was developed again in 2014 as a Coin that may very well be used to tip content material creators by way of their social channels.
Reddcoin is a fork of Litecoin and has actually fast transaction instances and block propagation. Reddcoin has a block time of solely 60 seconds which is 10 instances quicker than that of Bitcoin’s.
They moved away from the Proof-of-Work consensus algorithm to a singular mechanism referred to as Proof-of-Stake Velocity. This punishes these inactive nodes and rewards the energetic nodes with larger returns.
They’ve additionally not too long ago launched ReddID which permits individuals to tip on-line by way of a easy browser plugin. All they want is their distinctive ID so as to ship them RDD. The cash are then saved in a light-weight pockets that’s on the browser.
The undertaking accomplished a comparatively small ICO again in 2014 the place they raised $100,000 for five.4bn RDD tokens. RDD is the native token within the Reddcoin ecosystem and it’s utilized by the customers to tip within the ecosystem.
The crew was nameless however again in 2017 they launched their info they usually have backgrounds in mining and software program improvement.
GitHub exercise seems fairly dry not too long ago when in comparison with different initiatives within the area. There’s a sturdy and enthusiastic group behind the undertaking although.
Costs have been by way of fairly a trip within the latest bull and bear markets and they’re far under the all time highs reached in 2018. Nevertheless, they’re nonetheless above the ICO value.
The principle exchanges the place you should buy RDD are Bittrex and Upbit though they’re buying and selling on plenty of totally different exchanges. By way of storage, RDD may be saved in both the core pockets or within the new ReddID pockets.
📜 Disclaimer 📜
The knowledge contained herein is for informational functions solely. Nothing herein shall be construed to be monetary authorized or tax recommendation. The content material of this video is solely the opinions of the speaker who will not be a licensed monetary advisor or registered funding advisor. Buying and selling Foreign exchange, cryptocurrencies and CFDs poses appreciable danger of loss. The speaker doesn’t assure any explicit final result.
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Source: Coin Bureau