What is Reddcoin?

Reddcoin is the original social network tipping, content creator and micro-donation cryptocurrency. Reddcoin (RDD) was originally forked from Litecoin in 2014. Reddcoin is a crypto with a 60 second block time and block difficulty retargeting using Kimoto's gravity well. The coin also includes 5% annual staking rewards and economic inflation design. Reddcoin includes an innovative proof of stake velocity algorithm, PoSV. Desktop staking and light-wallet staking provides an eco-friendly alternative to expensive hardware and removes the need for cumbersome proof of work mining equipment.

The goal for Reddcoin is to be the internet's official "love" button. Imagine being tipped on Instagram for your picture upload, on Facebook for your location check-in, on YouTube for a silly video you uploaded, on Reddit for your witty comment? Now imagine being able to exchange those Reddcoins instantly for physical goods or debit cards. Or even transferring all your Reddcoins to a game you love playing. You would be getting paid for things that take zero effort or that you are probably already doing for free anyway. Monetize your likes and follows and share a little LOVE with Reddcoin today!

How is Reddcoin unique?

Reddcoin's all-volunteer core dev team is developing unique name-based wallet and payment products such as ReddID, allowing users to send assets directly to a uniquely registered and verified short name instead of a long hard-to-remember alphanumeric crypto wallet address. ReddID and the other products being developed in the Reddcoin ecosystem provide a deep view into the dynamic activity of the social network world without the constraint of being limited to a single one. This insight into rewardable and valuable content is a unique window into social and internet activity unavailable elsewhere, and only available through the ReddID and Reddcoin solutions product suite.

Reddcoin's fast block speed and unblemished security lends itself nicely to integration in gaming and other micro-transaction platforms, and will soon be available in such popular games as Minecraft and Fortnight.

Our ReddHead community is among the strongest in the cryptosphere, composed as it is of users caring for each other, stepping up for technical and social assistance, and helping Reddcoin and our partner and affiliated projects grow. It is Reddcoin's goal to be inclusive and respectful of other projects helping shape the crypto space, and we salute Vertbase for their actions in this direction along with their forthcoming Foundation.

Proof-Of-Stake-Velocity

Reddcoin's unique proof of stake velocity algorithm provides for greater rewards for use of Reddcoin and spending than any other proof of stake algorithm. Our customized time and velocity based staking aspects provide greater rewards for users on a universal basis, encouraging both tipping and spending in the place of hoarding to collect stake payments. The vast majority of the drawbacks of PoW and PoS aren’t due to flaws in technical designs but the disconnect from the economic and social aspects of being a real currency. It’s fair to say that most cryptocurrencies are created as technological products but "mis-sold" as currencies.

PoSV builds upon the strength of PoS and introduces new features to address its flaws. PoSV is designed to encourage both ownership (Stake) and activity (Velocity), the two main criteria of being a social currency. It must be emphasized that PoSV is designed specifically for the digital social currency Reddcoin and is never intended to serve as a drop-in replacement for other cryptocurrencies that don’t share the same economic and social goals. PoSV can only be evaluated as a piece in the Reddcoin ecosystem and not stand-alone.

Democratic, Transparent and Inclusive - The ReddHead Way

A small but growing number of companies have come to embrace the concept of "social currency", allowing customers to pay via Facebook posts, Twitter tweets and other social media content. However the lack of a yardstick to measure the "fair value" of social media content and influence is the main obstacle.

To our knowledge, Reddcoin is the only digital social currency that was created, designed and continuously evolves to become the "reserve currency" of people's social interactions. Reddcoin has two main objectives: 1) to concretize and quantify one’s intangible asset of social influence, and 2) to facilitate social interactions within and between social networks, both online and offline.

Reddcoin doesn’t compete with commercial currencies, fiat or digital, but rather complement them. Merchant support is encouraged, especially when the commercial activities form parts of a collective social experience. But the social aspect will always remain the utmost focus of Reddcoin, and the priorities of our growing ReddHead user community will always come first for Reddcoin.

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