ReddCoin is a blockchain-powered social media network empowering users around the world with cryptocurrency - RDD. The platform incentivizes users in the form of micro tips using the RDD coin for their contributions to the network. It also supports social payment and rewards content creators for the works.
Reddcoin which resulted as a hard fork of Litecoin is endowed with high transaction speed, small fees, and has modern security infrastructure. Fast track to 2020, the Reddcoin network has grown significantly and currently being accessed by 60,000 users with diverse backgrounds.
ReddNetwork
The ReddNetwork is fully decentralized and as such, has state of the art security and reliability for users. Since 2014, the ReddNetwork has leveraged the Proof-of-Stake-Velocity (PoSV) as a mechanism to back the Reddcoin currency as a store of value and medium of exchange. In other to enhance the overall performance of the network, the team rolled out version two of the PoSV.
PoSV v2 was deliberately introduced to enhance stake rewards for actively participating wallets and to create a revenue stream for the team's operational needs and future developments of the project.
ReddCoin
The ReddCoin is the cryptocurrency that members in the ecosystem used in tipping, sharing, and donating to content creators on the social network. Transactions on the network are confirmed within 60 seconds which makes it ten times faster than bitcoin. It cost as low as $0 to transact with ReddCoin which is cost saving as compared to primitive blockchains like Ethereum where users pay around $4 - $8 for a regular transaction.
ReddWallet
The ReddWallet is a software wallet that allows users to store, send, and receive ReddCoin. While holding ReddCoin in their wallets and keeping it opened, users earn ReddCoin as staking rewards. In return for helping secure the ReddNetwork, a token holder can earn 25% in a year.
What’s in the pipeline?
As part of their efforts to improve the usability of their products, the team is currently working on the Redd-ID which is a fascinating technology that will allow users to create their own usernames including public keys and social network identities. This will also expand ReddCoin’s utility as holders would be able to tip and share the cryptocurrency on other social media networks.
Other development includes an e-commerce marketplace for ReddCoin merchandise and collectibles, a ReddCoin WIKI to serve as a repository for all ReddCoin related information, and many exciting kinds of stuff
Where to Stake ReddCoin
Mycointainer is an online automatic staking and masternode staking platform which supports the staking of RDD coin. Holders of RDD can deposit and start earning staking rewards. The current APR for staking RDD is 29% and you only pay fees on rewards generated. However, there is an option to subscribe to a POWER PLAN and stake for free. You get 100% of your generated rewards, airdrops plus free withdrawal.
Now that you know about ReddCoin and how you can earning passive income from staking, Sign up on Mycointainer
