Reddcoin is a decentralized cryptocurrency that was developed for use in social media platforms, such as YouTube, Facebook, Twitter, and many others. The main idea behind the project was to develop a coin that would allow people to receive and send money faster with minimal challenges as possible.
Due to its application, its users are spread over 100 countries. The people who use the coin have different age groups, backgrounds, and interests. RDD is one of the main digital social currencies that were developed to address specific needs when people interact through social media.
Reddcoin has a unique way of working. For instance, you may be browsing, and then you come across a tweet or Facebook post that grabs your attention. You click on it, watch the video, or read the post, and you are impressed and happy about what you came across.
Other than just sharing the post, you may decide to reward or tip the user who posted or tweeted it through Reddcoin. There is no transaction fee for tipping the user. The move incentivizes and motivates the author to come up with better posts. Over time, the entire social media and creators benefit from digital assets.
History and Main Features of Reddcoin (RDD)
The coin was released to the public in 2014. It was forked from Litecoin. The main objective of the project was developing a social coin. The development team has been working to ensure more social media platforms are being enabled for tipping. The team behind the development of the digital asset are unknown.
While most coins use either Proof of Stake (PoS) or Proof of Work (PoW), Reddcoin uses the Proof of Stake Velocity (PoSV). PoSV is a unique algorithm that tries to improve PoS by focusing on both stake (ownership) and velocity (activity). PoSV reduced the environmental impacts of mining major cryptocurrencies; such as Bitcoin.
The coin has a decentralized tipping platform developed according to blockchain technology. It allows users to perform transactions in RDD, send and receive RDD while motivating creators to create innovative posts.
The platform has a Redd-ID that serves as a unique ID. The ID allows users to associate a username with various essential information, such as social network identities and public keys. It offers an easy and unique way of identifying users that is implemented at the blockchain level.
Also, while most coins have a maximum supply. RDD does not have a limited supply. According to its developers, its supply will be infinity.
Reddcoin (RDD) Price Chart
Figure 1 showing RDD’s price from December 2018 to December 2019.
Reddcoin (RDD) Price Analysis
Its price on December 18, 2019, was $0.000647. It is among the top 140 cryptocurrencies according to market capitalization. It has a market capitalization of $18,652,777. It has a total supply of 28,808,713, 174 RDD. It’s all-time high is $0.032391, and it’s all-time low is $0.000006. Over the past 30 days, it has had a high of $0.000823 and a low of $0.000527.
Market Prediction for Reddcoin (RDD) Price 2020
The crypto market is dynamic and volatile. The price of a coin can change within seconds. It all depends on your ability to make a decision at the right time. Although you cannot give a specific price prediction, there are expert opinions that can guide you while investing in the crypto market.
Jay Lawrence, CEO Reddcoin Solutions, Reddcoin (RDD) Price Prediction 2020
Jay announced the launch of the new enhanced Proof of Stake Velocity (PoSV) protocol that would improve its blockchains. The move would enhance its processes and would make the project a more attractive investment for investors. It will boost the value of the coin in the short and long term.
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John Nash, Lead Developer Reddcoin, Reddcoin (RDD) Price Prediction 2020
John shared his thoughts on the new features in the project. He believes that they will continue embracing decentralization that will drive development and engagement through social media. It shows that the company has a strategic goal that would not only stabilize the coin but also boost its price.
John McAfee, Founder McAfee Associates, Reddcoin (RDD) Price Prediction 2020
John describes the coin as a sleeper or a sleeping giant. He tweeted that the coin could is mainly common with the younger generation. As a way of improving their interactions on social media, the younger generation is likely to start using the coin more frequently. Ultimately, its value will appreciate due to an increased number of users.
Elon Musk, Silicon Valley Billionaire, Reddcoin (RDD) Price Prediction 2020
Elon believes that cryptocurrencies are a better store of value than paper money. He also believes that paper money will gradually go away. As paper money goes away, it will make way for the growth of the crypto market, especially altcoins, because of their affordability in comparison to Bitcoin.
Mark Zuckerberg, Founder Facebook, Reddcoin (RDD) Price Prediction 2020
Mark believes that the technology behind some cryptocurrencies could be used to improve Facebook in the future. Reddcoin has developed a way of tipping content creators through social media. Reddcoin could partner with social media platforms to revolutionize content creation.
Factors Contributing to the Growth of Reddcoin (RDD)
Reddcoin has a faster block time than many cryptocurrencies, including bitcoin. Block time is the rate in which new blocks are added to the RDD blockchain. Its transaction time is 60 seconds. The transaction speed is very attractive for users who use it on social media. Most people believe that that the coin is cheap, fast, and affordable for everyone.
The development team is still improving Reddcoin’s PoSV model so that they can ensure it has minimal environmental impacts. The move has made the coin very attractive to environmental enthusiasts who believe that the mining of cryptocurrencies has a negative environmental impact. Also, the PoSV model is more secure and will avoid some of the challenges associated with PoS systems.
Another issue affecting its growth is its integration with more social media platforms. As the company works with more social media platforms, its number of users will gradually increase, and the coin’s value will appreciate. In addition, the company has acquired new partners who will boost the coin’s global standards.
Another factor affecting RDD’s growth is the growing number of users in social media users. There are over 3.48 billion social media users globally. Each of the users is a potential customer. Reddcoin has a great opportunity for growth in the industry and its real-life application on social media.
Reddcoin (RDD) Price Prediction Verdict
According to the expert analysis and factors affecting its growth, Reddcoin is a good investment decision. Social media has enhanced globalization and the need to share quality content. There is a need to reward content creators who post or tweet impressive content.
Reddcoin has several application program interfaces (APIs) that have made tipping on social media quite easy. You just need to create a Reddcoin account and link it to your social media accounts. It is quite easy to use, and it is attracting users from over 100 countries globally.
The rapid growth in social media users will create a larger target market for the social currency. People desire to do more than just like or share an impressive tweet or post. They would like to reward the author. Reddcoin addresses the need, and it is highly likely that its number of users will increase substantially.
In addition, the coin is developing partnerships that will allow it to trade on major exchange platforms. It will boost its global status and its number of users. It will not only boost reddcoin RDD’s popularity but also improve the coin’s integrity.
How to Buy Reddcoin (RDD)
You can earn coins by selling products and services in exchange for Reddcoins or social networks with Reddcoin integration, such as Facebook and Reddit. The coin is available in over twenty exchanges. However, you need a platform that will support you in making wise investment decisions. You need a wallet to buy Reddcoin and take part in improving social networks.
The best solution to your current crypto needs is Atomic wallet. Download and install the app on your personal computer or mobile device. The wallet is the most secure, decentralized, transparent, and reliable wallet in the market. You do not need to look further. Atomic wallet is a multi-currency solution that allows you to but the coin using your local currency.
Atomic wallet allows you to buy the coin using a credit/debit card. You can start with a minimum investment of $50 and a maximum of $20000 daily.
How to Exchange Reddcoin (RDD)
Atomic wallet allows you to buy, sell, exchange, send, and receive over 300 tokens and coins. The app is available for all major operating systems, such as Windows, Fedora, macOS, Debian, and Ubuntu.
The wallet is strongly encrypted, and your private keys never leave your device. The platform allows you to view the real-time prices of all coins and tokens available on the platform so that you can make a good investment decision. Also, it allows you to manage all your digital assets in one platform.
Atomic has an awesome customer service that is always ready to help you. Furthermore, the wallet has the best exchange rates that will allow you to make more profit from your digital assets. The wallet’s platform is user-friendly, and you can easily navigate through the interface and make good investment decisions.