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What is Reddcoin?
Reddcoin is a decentralized cryptocurrency, based on blockchain, used to suggest or send payments for social content. Unlike the competitor steem (and legacy platforms like Snapcash), the Reddcoin API supports all social platforms, from Reddit to Twitter and Twitch. RDD, the reddcoin cryptocurrency currency, is extracted from the ReddID portfolio through a speed test speed, which increases your chances of extracting a valid block through your RDD balance.
Social media is a big business – according to Pew Researchover 68% of American adults use only Facebook. In fact, the social giant has finished 2.27 billion monthly active users as of 30 September 2018. The rise of social media has led to an increase in influencer marketing, with important factors of social influence that generate millions of dollars of revenue.
Now everyone wants to be a social media influencer, and with brands pushing microinfluencers, socialcoins like RDD, SBD and STEEM are well positioned to bridge the gap. Everyone should be paid to make social platforms like Facebook popular, not just C-suite executives like Zuckerberg.
The idea of giving tips to content creators has already created a rift that has allowed social financing platforms Patreon to create a new lane and prosper. If there is money to be made in this lane, it will be found, and Reddcoin is not the only one to watch. Dogecoin is also commonly used for online tips.
Will the social currency and the overturning of the Internet become widespread enough to support an entire market?
We begin to answer this question with a break in RDD cryptocurrency and its performance on the market so far.
RDD Summary Cryptocurrency
Starting from December 17, 2018, the circulating supply of Reddcoin is 28,808,713,174 RDD, with no total bid limit (the original capitalization of 109,000,000,000 was removed during the transition to PoSV). The peak price of RDD so far was $ 0.028770 on January 7, 2018.
Reddcoin's ICO public token sale ended January 20, 2014 and raised over $ 100,000 in BTC in anticipation of the platform's February 2, 2014 release. Over 5.45 billion REDD were coined in this initial lot.
RDD was initially extracted from PoW as a BTC, but was transferred to PoSV mining in August 2014. The total RDD offer increases by about 5% on an annual basis.
PoSV still requires processing algorithms, but because RDD balances increase the likelihood of success, PCs, tablets, laptops and smartphones can compete with ASIC extraction systems.
Critics of Reddcoin argue that it can not sustain value because of its divisibility and supply not provided. Proponents argue that a price above $ 0.01 makes it difficult to support online microtransactions. Spending a penny is more exciting than spending one-tenth of a cent, and on the advertising platforms used by most websites, about $ 0.01 is paid for every 1000 views. This places a strong limit on social media, given that almost 80% of Facebook users (and 100% of real people) own it 500 or less friends.
Over $ 200,000 of RDD are traded on a daily basis. The cryptocurrency exchanges that support RDD include Bittrex, Upbit, Litebit.eu and Cryptopia. Reddcoin trading pairs include BTC, DOGE and fiat currencies as EUR.
L & # 39; Official Reddcoin cryptocurrency portfolio It is available for desktop platforms and RDD mines. Also, ReddID It works like a "browser extension" that allows you to easily suggest people on any website or forum that you visit within the browser. Consider it as an address book for Reddcoin's addresses and usernames so that you can locate the portfolio addresses for the creators you are viewing.
Other third-party portfolios have been created, including Reddcoin-Qt and reddcoind, however only the ReddID has been confirmed for the stake and the profit of RDD interest.
Socialize with online networks
When cryptocurrency began to gain attention in 2011, journalists, influencers, bloggers, podcasts, YouTuber and other content creators began publishing their public keys online. In the last ten years, we've just gotten used to seeing them on social media profiles and on the author's bios.
Meanwhile, in 2015, Facebook has joined the ranks of messaging platforms to allow payments from friend to friend. Microtransactions and social payments appear to be the wave of the future, and several cryptocurrencies, such as DOGE, have increased among the ranks as generally acceptable forms of payment for tipping people online.
This has forced platforms to push for proprietary currencies to tokenize transactions on their platforms, whether they are based on blockchain or not. For example, the video game streaming service owned by Twitch created it currency of proprietary bits at the end of 2017 he quickly integrated the service with PayPal for convenience.
Twitch has finished 140 million monthly active users looking over 2.2 million monthly livestream. Spent Amazon $ 970 million to buy the company in 2014, and his best 10 streamers earn more $ 23 million for the year in combined revenue.
But earning a living on these platforms is not as easy as it seems – the richest have teams of professionals who help with production, social media, merchandising sales and other revenue streams.
The average person is lucky to earn $ 10- $ 100 a year through all the content he creates online. And this assumes that anyone paying attention is worried enough to tip – almost 80 percent of Facebook Messenger users I have never used Facebook Payments.
While services like YouTube are raising the level for monetizationReddcoin is going in the opposite direction by enabling micropayments on social media. Think of it as a "like" button monetized for all social media platforms.
How do you achieve this?
Dissect the Reddcoin ecosystem
Reddcoin has several APIs and user interfaces to make it easier to roll over on social media. When you create an account on the Reddcoin wallet, you can link your Twitter, Twitch and Reddit accounts. You can then download the ReddID browser extension. When you like the content on these platforms, you can "please" them by entering the username and sending a micropayment.
REDD can be used to buy Bits on Twitch, Reddit Gold on Reddit, etc. It can also be used as a payment to some minor retailers, or it can be exchanged in P2P or on the cryptocurrency exchanges mentioned above.
Reddcoin also created Reddcoin Broadcast in 2014, which works like Hootsuite or Buffer to broadcast messages through social media platforms. Unlike Hootsuite and Buffer, Reddcoin Broadcast is a free tool designed to spread the knowledge and use of REDD.
Users with the Reddcoin Wallet installed act as nodes to process blocks every 60 seconds in exchange for blockchain rewards. The APR of this system is approximately 5 percent, which means you will receive more by holding more, but you will still have to extract it.
Reddcoin has everything right – he just needs to keep the people using it.
Summary Reddcoin
Reddcoin, like Reddit, is a project built for people. Social media is a big business and the general public is creating free content for these companies like modern slavery. If, like me, you can not pay rent with Like and Follower, REDD can be the solution. The success of the Reddcoin project depends on these key factors.
- Reddcoin was developed in 2014 with particular attention to integration with social media platforms to allow tipping. So far, Reddcoin is integrated into Twitter, Twitch and Reddit.
- REDD, the proprietary cryptocurrency of Reddcoin, can be traded for currencies on the above mentioned social platforms. It can also be exchanged on encrypted markets.
- Reddcoin does not have an offer limit and is extracted using Proof-of-Stake-Velocity, which is a hybrid between Proof of Work and Proof of Play.
With these pieces in place, Reddcoin has a coup over the years. It could never be the number one, but surely it will have a cult following.
One can only ask if it can coexist with DOGE or how those encrypted by ordinary men can resist the scrambles of creative professionals like STEEM and SBD. That said, it does not seem that Reddcoin has just fired 70% of its workforce …
The author is not currently invested in coins, tokens or assets mentioned in this article.
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