ReddCoin is based on its own blockchain, although its structure is a fork of Litecoin and is based on the Scrypt algorithm. RDD is focused on integration into social networks. The integration plan involves a process of an intervention of ReddCoin in all social networks from YouTube, Instagram, Twitter, Facebook to local communication sites. Developers’ goal is to monetize the content and the communication of users, to replace the “likes” with a feelable digital currency that can be spent within the system and also displayed in fiat. With the help of this approach, every post, video or comment can potentially bring profit. Received ReddCoins can be used in all social networks connected to the system by means of buying goods and services, bonuses and stickers. It is also possible to use RDD in games, transferring funds from one application to another.
The CEO/COO of RDD is Jay Laurence. ReddCoin was released to the public on February 2, 2014, after raising more than $ 100 000 in IPCO financing (IPOC is comparable to IPO, the difference is that coins replace stocks). After RDD's IPCO in 2014, the founding team chose to resign and liquidate all held funds and coins, turning Reddcoin into one of the first all-volunteer, community-funded altcoin teams to keep developing the Reddcoin vision.
On April 29, 2014, the team announced that ReddCoin will switch from PoW (Proof-of-Work) to PoSV (Proof of Stake Velocity). The maximum possible number of RDD to be issued is 109 billion.
Let’s say you want to buy ReddCoin. What should you do? We suggest you go to the SimpleSwap homepage and follow the instructions below:
This is everything you need to know to buy RDD.