Reddcoin (RDD)- What is it?
Reddcoin (RDD) is a decentralized digital social currency, created in 2014, that aims to fully integrate a tipping system in social sites, such as Facebook and Youtube. The stated goal of Reddcoin is to become “the social currency that enriches people’s social lives and makes digital currency easy for the general public.” Imagine if you could seamlessly reward your favorite youtuber as you write a comment on his/hers last video, or perhaps send some money to a relative through facebook, with 0% transaction fees for both the sender and the receiver. Reddcoin is making this possible.
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Unlike most cryptocurrencies like Bitcoin (BTC), Reddcoin doesn't use the process of mining to generate new coins, instead it uses the process of "minting" as they call it. Which not only allows everyone with low computing power to participate in the process, but also requires much less energy consumption compared to mining, making it very environmental friendly. The coin has also a permanent annual inflation rate of 5%, meaning that there is no capped coin limit.
The Reddcoin protocol also rewards its users. By simply leaving your wallet open, the system rewards you with Reddcoins for contributing to the global decentralized Reddcoin network. Great isn't it ? They have already achieved the widest adoption, among users, as a social currency! It is currently valued at $0,017884 per coin, by the time of writing, according to Coin market Cap.
Want to get involved? First you need a wallet, according to your device, download from here! To get some coins and begin getting interest, go to YoBit.net or exchange with Shapeshift. YoBit.net should be your first choice. They offer the option of buying with fiat, such as USD and they have lower fees!
Awesome post! This is an interesting concept. There is always going to be a place for these types of applications on the blockchain. We just need it to work out! The technology needs to be incorporated soon! Then all these applications will be a great play for all of us. At the moment my personal interest at the moment are infrastructure plays. So get into anything that is creating the actual blockchain technology. Once that gets incorporated, then everything will follow suit! Thanks again! Have a blessed day! People are powerful!