What Is ReddCoin (RDD)?
ReddCoin (RDD) is a social cryptocurrency designed for tipping and transferring currency for social payments across the globe. Forked out of Litecoin, the Redd platform aims to help, empathize, and sympathize with individuals and catalyze a positive change through various areas of Redd reach. Using ReddCoin, traders and users can easily trade and access various Redd products like ReddBot, ReddNetwork, ReddShare, and ReddWallet.
ReddCoin platform aims to be a 100% voluntary-based organization. For this reason, the platform seeks to bring the Redd community together to change the world and encourage people to donate, support, and raise funds for various causes across the globe. Moreover, the platform's primary goal is to bring value back to humanity and social interaction through Redd.Love. Redd.Love is a social movement that aims to welcome everyone and encourages them to support and donate. Moreover, with the help of past donations and funds raised by the community, the platform seeks to be a self-funded project through a PoSV version-2 network upgrade.
RDD is the token name that empowers the ReddCoin platform for various means of payment done on the social network. According to the Redd paper, RDD uses a unique algorithm known as proof-of-stake-velocity (PoSV). PoSV is a unique algorithm designed specifically for ReddCoin social cryptocurrency. Through PoSV, the platform seeks to encourage ownership (stake) and activity (velocity) of the social currency. Moreover, RDD holders can stake their tokens for a dynamic return, which aims to help the platform secure the network and earn a yield.
ReddCoin is a Litecoinfork that benefits the platform from extremely short block times and seeks to create a new block every minute. Besides, the fork platform seeks to help the coin become ideal for micropayments and donations.
History of ReddCoin (RDD)
Redd Book, "It's time for a change," was written by Jay "TechAdept" Laurence in September 2020. In August 2019, John "CryptoGnasher" Nash and Jay "TechAdept" Laurence updated The Redd paper, which Larry Ren originally wrote in April 2014. Due to the vision and dedication of the ReddCoin core team, the launch and smooth functioning of the project is possible.
