Launched in 2014, Reddcoin (RDD) is a non-ICO 100% volunteer-run decentralized cryptocurrency used to send and receive payments utilizing social media channels (like Twitter, Reddit & Twitch) world-wide as the conduit to do so, without the need to partner or formally integrate with those channels.
The technology is platform-independent and available on most common hardware and operating systems. Coins are mined by a wallet using their unique Proof-of-Stake-Velocity (PoSV v2) algorithm, which incentivizes both ownership (staking or holding coin) and activity (velocity or using the coin for transactions). That same algorithm allows Redd to self-fund its operations by using a small percentage of its staking rewards to cover operating expenses.
In 2020, with over 60K followers in social media (called ReddHeads), listed in over 50 countries, Reddcoin was rebranded as “REDD”. They are a social organization whose goal is to champion a movement that brings value, balance, and leverage to the masses and also rewards people for their efforts. As society and technology changes and the concepts of “work” and “income” become more and more blurred, systems need to be put in place to empower people, level the playing field, and provide stability in people’s lives.
Reddcoin was created around the concept of tipping, and it still does that, but over time it has expanded its ecosystem to include features and benefits that will easily allow RDD to become broadly adopted into our common and everyday experience. This will be facilitated by the integration of globally excepted credit and debit cards, which will eventually serve as onramps into mainstream commerce and financial transactions. The platform also supports API hooks that allow eCommerce systems to integrate promotional products and service offerings.
