What is ReddCoin (RDD)?
ReddCoin (RDD) is a social currency based on the ReddNetwork. The ReddNetwork is a decentralized custom blockchain that utilizes a P2P mechanism to enable payments to be made across the most popular social media platforms. RDD allows social media users to send and receive crypto as well as tip others. Before buying the token, make sure to check the recent RDD price changes.
Redd is a seasoned veteran of the crypto industry, with roots dating back to 2014. The Redd platform enables users to tip and donate on social networks. Its developers seek to help content producers monetize engagement in a decentralized way.
Besides, note that the Redd ecosystem employs the Proof-of-Stake-Velocity (PoSV) consensus mechanism. It allows RDD stakers to earn more tokens. In addition, a new block on the ReddNetwork is generated every minute due to the fact that it is a Litecoin fork, which results in extremely short block timings. As a result, transactions seldom take more than a minute to complete.
Also, apart from the token, other key elements of the ecosystem include the ReddMobile app, ReddID, and ReddWallet.
Use Cases of RDD Tokens
As mentioned before, the main purpose of ReddCoin tokens is monetizing user engagement in social media platforms. Thus, with the help of the RDD token, activists and creators of content may spread the word about their interests while being paid for their time and effort.
Moreover, RDD tokens can be used to make microtransactions and donations. This is the case due to the fact that transactions made with RDD are free. Thus, the RDD token is great for raising funds for charity organizations through a number of social media channels
Lastly, RDD token holders can stake their holdings for dynamic returns. They can get around 10% of returns by staking RDD in their ReddWallets.
Care to see the live ReddCoin price? Check out the RDD price chart above.
Who Founded ReddCoin?
A team of experts is behind the launch and management of the ReddCoin crypto project. Led by Jay Laurence, the team also includes a tech evangelist, John Nash, an operations director, David Faust, and Michael Kirlew, the prominent expert in brand design and marketing.
Tokenomics of RDD
There’s no specific information available on the distribution structure of ReddCoin as well as no max supply set. However, you can view the latest ReddCoin price changes on the charts above to determine the main trends in its value changes.
