ReddCoin (RDD) is known within the blockchain arena for being the pioneer the social media crypto. The social economy within this platform is made possible by the up votes and likes that can be realized as monies in crypto form. It is possible for the content creators to gain rewards for content being up voted or liked by users within the network while they can also give kudos in form of crypto to good content. ReddCoin is mainly designed for social media platforms which currently consist of the tech giants in Silicon Valley and other players globally.
The crypto markets have remained volatile although a couple of altcoins have managed to increase their market cap significantly so far. RDD coin ranks at 74th in market cap right now which maps it among the potential cryptocurrencies. The altcoin has been steadily gaining in the past month changing its price by over +47%. However, this can be attributed to the low price of 1 RDD coin which is way below the $1 mark as of press date. The project also enjoys a competitive advantage of experience having been in the crypto arena for over four years. This does not mean it has quite achieved stability close to that of securities since the general crypto market remains highly unpredictable.
ReddCoin (RDD) developments in their protocol have made the coin a favorite within the crypto community. An Internet of Value approach that is fueled by the POSV protocol in addition to the recently release Web-ID might go a long way in adding value to RDD.
The Web-ID is simply an advancement of the Redd-ID in that this is now a web version. Compatibility of the Web-ID & Redd-ID is amongst the features that users can leverage from this new product. Crypto users with the ReddCoin Web-ID will be able to transfer RDD coins under their own usernames. In addition to the simplicity, Web-ID is flexible for mobile phones or personal computers hence one can tip at their convenience provided they have a username.
Transaction time is among the challenges facing pioneer altcoins like BTC & ETH as more people seek to use digital currencies. ReddCoin has this figured out in their protocol where Web-ID transactions take a few seconds hence the convenience of decentralization. This is because the transaction is channeled to the relative wallet as soon as a request is made and confirmed through a transaction board in real time. The project is still ongoing and advanced features are to be added to the Web-ID in the near future.
POSV & Internet of Value
ReddCoin uses the proof of stake velocity within its blockchain network which serves the function of both PoS & PoW simultaneously. The protocol is geared towards enhancing a fair network based on velocity (activity) or the stake owned by a user hence RDD can be used to store value and as a digital currency. POSV protocol has proven to be cost efficient by elimination of electricity wastages when mining the RDD coins.
Decentralized blockchain platforms have signaled that the end of middlemen within the financial services arena is almost here. ReddCoin (RDD) POSV protocol enables the altcoins to be stored and validated through blockchain operations. It is probable that this will contribute in value addition to the Internet of Value as the world becomes more interconnected.