Sergey Ivanov Developer of his own cryptocurrency, trader. ICO expert. Let's get to know each other!
02.05.2019
426
0
The emergence of a new product based on the blockchain platform in the digital space has attracted the attention of users. The small fundraising at the launch made the project stand out from the crowd with its focus on results. Despite the large number of similar projects, including those intended for integration into social networks, ReddCoin was conceived as a tool to support existing platforms.
Considering the shortcomings of previous similar products (MDK, SALT, Qtum) created for ICO, the creators of this cryptocurrency focused specifically on the usefulness of their solution.
Main parameters of ReddCoin
| Title (ticker) | ReddCoin (RDD) |
| Today's rate | $0.0007 |
| Current number of coins | 29,384,170,027 |
| Maximum number of coins | 27 500 000 000 |
| Market capitalization | $20,406,151.29 |
| Changes in 24 hours | -10.00% |
| Creation date (first block) | 2014 (01/20/2014) |
| Mining algorithm | Proof-of-Stake-Velocity (PoSV), before it – Proof-of-work (PoW) |
| Official site | reddcoin.com |
Cryptocurrency ReddCoin
The ReddCoin cryptocurrency was created at the beginning of 2014. The idea was to popularize digital money among people who do not understand anything about it. According to the developers, integration with social networks would allow the cryptocurrency to become widespread among users.
The integration plan includes a step-by-step process of introducing ReddCoin into all social networks, from Facebook, Instagram, YouTube to local communication platforms. The main task of the developers is to monetize the likes system. Thanks to this approach, every post, video or comment can potentially generate income.
However, this direction is only a basic stage in development. The developers are striving to expand the use of the ReddCoin cryptocurrency and make this digital money truly social. To do this, a vast field is created for the use of earned funds.
Digital money received through activity can be used within all social networks connected to the system. Buy goods and services, stickers and bonuses, use ReddCoin in games, transferring your funds from one application to another - all this becomes available thanks to the created interaction structure.
Distinctive features
The ReddCoin cryptocurrency is based on its own blockchain, although its structure is a fork of Litecoin and is based on the Scrypt algorithm. Distinctive features of RDD are identified in the following parameters:
- Proof of Stake Velocity protocol – unlike standard PoS, this option does not support a constant increase in charges for holding coins, the effective time is up to two weeks, after which the growth of ReddCoin gradually decreases;
- popularization – social networks are understandable and easy to use for many users, the integration of cryptocurrency into such platforms will allow everyone to understand the principle of digital money and use it at their own discretion;
- microtransactions – the ReddCoin system allows for minor transfers due to the low commission and low cost of the cryptocurrency.
The initial mining was based on the PoW protocol, but then it was decided to switch to PoSV. This approach to reaching consensus ensured an environmentally friendly network that did not require huge computing power, and also excluded ASIC devices from the mining process.
A ReddCoin block is formed every 60 seconds, after each new one the network complexity is recalculated. Given the PoSV protocol, it is not recommended to keep large amounts in one account for a long time. For efficient mining, every week or two funds are transferred from one address to another, which renews their maturation.
The history of ReddCoin
Development on the blockchain platform, aimed at supporting the financial functionality of instant messengers, looked utopian from the first day. The idea of creating their own cryptocurrencies has already visited the owners of socially oriented resources. For this reason, Redcoin developers faced a difficult task: to promote their product not only among those who are familiar and already use similar products, but also to introduce it where they have not yet heard of it.
Known under the ticker RDD, the open-source digital currency emerged as a fork from LiteCoin. The first placement took place in IPCO mode with publication on BitcoinTalk.org. PoW was chosen as the main working algorithm, on which it was planned to mine up to half of all available coins before the end of 2014. This is taking into account the fact that the total issue of tokens was assigned in the amount of 109 billion.
At first, as a result of the placement, the developers managed to attract investments in the Redcoin project in the equivalent of $100,000. After this, it was decided to transfer the remainder of the issue to the stock exchanges.
Road Map of the project
The officially announced roadmap is published publicly on the Trello service. What is noteworthy is that the authors of the cryptocurrency from the very beginning did not clearly link leading events to dates. At least this was the case before the 2017 rebranding. After this, the developers had to plan their activities by quarter.
Reddcoin Roadmap
Chain of events:
- launch of a decentralized platform with the publication of crowdfunding - January 2014;
- opening of testing of the main ReddID product in beta mode - 2015 (debugging continues to this day. Release 0.1.4 was released in June);
- debugging and placement for free download of the RDD coin wallet. The first version of the mobile wallet appeared in the 3rd quarter of 2017. Version 2, codenamed Core1.6, was planned for the last quarter of 2020;
- The opening of a mobile stock with the ability to generate coins within the framework of the new Mobile Staking algorithm was announced for the 1st quarter of 2018. It should be noted that this is already the third, more successful version of the application.
RDD course:
| 1 RDD = | 0.00479100 AED |
| 1 RDD = | 0.00000000 AFN |
| 1 RDD = | 0.13140000 ALL |
| 1 RDD = | 0.51440000 AMD |
| 1 RDD = | 1.29300000 AOA |
| 1 RDD = | 0.00180200 AUD |
| 1 RDD = | 0.00000000 AZN |
| 1 RDD = | 0.00119200 BAM |
| 1 RDD = | 0.00000000 BBD |
| 1 RDD = | 0.12240000 BDT |
| 1 RDD = | 0.00308100 BGN |
| 1 RDD = | 0.00029090 BHD |
| 1 RDD = | 0.00920800 BOB |
| 1 RDD = | 0.00699600 BRL |
| 1 RDD = | 0.00000000 BSD |
| 1 RDD = | 0.00000011 BTC |
| 1 RDD = | 0.00000000 BTN |
| 1 RDD = | 0.04000000 BTS |
| 1 RDD = | 0.00335600 BYN |
| 1 RDD = | 0.00171300 CAD |
| 1 RDD = | 0.00117400 CHF |
| 1 RDD = | 0.00914800 CNY |
| 1 RDD = | 4.59900000 COP |
| 1 RDD = | 0.80540000 CRC |
| 1 RDD = | 0.02844000 CZK |
| 1 RDD = | 0.00001420 DASH |
| 1 RDD = | 0.01078000 DKK |
| 1 RDD = | 0.36670000 DOGE |
| 1 RDD = | 0.07778000 DOP |
| 1 RDD = | 0.02918000 DZD |
| 1 RDD = | 0.64710000 EAC |
| 1 RDD = | 0.02219000 EGP |
| 1 RDD = | 0.02535000 EMC |
| 1 RDD = | 0.03146000 ETB |
| 1 RDD = | 0.00000303 ETH |
| 1 RDD = | 0.00108900 EUR |
| 1 RDD = | 0.00073240 FCT |
| 1 RDD = | 0.13250000 FTC |
| 1 RDD = | 0.00098350 GBP |
| 1 RDD = | 0.00408100 GEL |
| 1 RDD = | 0.00024770 GGP |
| 1 RDD = | 0.00003239 GIP |
| 1 RDD = | 0.01184000 GTQ |
| 1 RDD = | 0.00997000 HKD |
| 1 RDD = | 0.03300000 HNL |
| 1 RDD = | 0.00839000 HRK |
| 1 RDD = | 0.41620000 HUF |
| 1 RDD = | 19.2500000 IDR |
| 1 RDD = | 0.00444400 ILS |
| 1 RDD = | 0.09557000 INR |
| 1 RDD = | 1.20700000 IQD |
| 1 RDD = | 270.360000 IRR |
| 1 RDD = | 0.16910000 ISK |
| 1 RDD = | 0.23380000 JMD |
| 1 RDD = | 0.00095750 JOD |
| 1 RDD = | 0.13720000 JPY |
| 1 RDD = | 0.13760000 KES |
| 1 RDD = | 0.06980000 KGS |
| 1 RDD = | 4.50100000 KHR |
| 1 RDD = | 1.51400000 KRW |
| 1 RDD = | 0.58890000 KZT |
| 1 RDD = | 1.90700000 LBP |
| 1 RDD = | 0.25950000 LKR |
| 1 RDD = | 0.00002290 LTC |
| 1 RDD = | 0.01148000 MAD |
| 1 RDD = | 0.01787000 MDL |
| 1 RDD = | 0.00000000 MGA |
| 1 RDD = | 1.47600000 MMK |
| 1 RDD = | 0.00000000 MVR |
| 1 RDD = | 1.40000000 MWK |
| 1 RDD = | 0.02832000 MXN |
| 1 RDD = | 0.00539500 MYR |
| 1 RDD = | 0.00000000 MZN |
| 1 RDD = | 0.02860000 NAD |
| 1 RDD = | 0.60350000 NGN |
| 1 RDD = | 0.00261000 NMC |
| 1 RDD = | 0.01105000 NOK |
| 1 RDD = | 0.17880000 NPR |
| 1 RDD = | 0.00607700 NVC |
| 1 RDD = | 0.09910000 NXT |
| 1 RDD = | 0.00200800 NZD |
| 1 RDD = | 0.00053650 OMR |
| 1 RDD = | 0.00132500 PAB |
| 1 RDD = | 0.00460100 PEN |
| 1 RDD = | 0.00745800 PGK |
| 1 RDD = | 0.06475000 PHP |
| 1 RDD = | 0.21200000 PKR |
| 1 RDD = | 0.00480500 PLN |
| 1 RDD = | 0.00421100 PPC |
| 1 RDD = | 8.97600000 PYG |
| 1 RDD = | 0.00442700 QAR |
| 1 RDD = | 0.00562800 RON |
| 1 RDD = | 0.14130000 RSD |
| 1 RDD = | 0.09264000 RUB |
| 1 RDD = | 0.00522000 SAR |
| 1 RDD = | 0.01229000 SEK |
| 1 RDD = | 0.00178300 SGD |
| 1 RDD = | 0.00000000 STR |
| 1 RDD = | 0.00000000 SVC |
| 1 RDD = | 0.03363000 SZL |
| 1 RDD = | 0.03987000 THB |
| 1 RDD = | 0.00249500 TND |
| 1 RDD = | 0.72850000 TOP |
| 1 RDD = | 0.00953600 TRY |
| 1 RDD = | 0.01130000 TTD |
| 1 RDD = | 0.04374000 TWD |
| 1 RDD = | 3.27700000 TZS |
| 1 RDD = | 0.03509000 UAH |
| 1 RDD = | 4.73700000 UGX |
| 1 RDD = | 0.00128500 USD |
| 1 RDD = | 0.05559000 UYU |
| 1 RDD = | 15.7900000 UZS |
| 1 RDD = | 5159.00000 VEF |
| 1 RDD = | 18.4800000 VND |
| 1 RDD = | 0.00441900 VTC |
| 1 RDD = | 0.14000000 VUV |
| 1 RDD = | 0.00000000 WST |
| 1 RDD = | 0.81680000 XAF |
| 1 RDD = | 0.00001405 XMR |
| 1 RDD = | 0.86190000 XOF |
| 1 RDD = | 0.01611000 XPM |
| 1 RDD = | 0.00435800 XRP |
| 1 RDD = | 0.02348000 ZAR |
| 1 RDD = | 0.02626000 ZMW |
A little about the team
The creative team of ReddCoin cryptocurrency developers already had practical experience working on similar projects. All team members are close in spirit and united by a common idea:
- John Gasher is a lead developer based in Australia;
- Jay Lawrence is an American technologist who provides technical support for the main platform. His partner is Charles Lennon;
- Chris Whitesock is an American and is responsible for project security issues;
- Ryan Golditz is another representative of the Pacific coast, combining the functions of art director and brand manager;
- Eric Wurstein is a Canadian and serves as a management advisor;
- Jimmy Van Newmenhuis is a project manager originally from Belgium.
Reddcoin Team
The development team is represented by both experienced engineers and young active individuals, such as Alberto Ganado from Spain - this young man is responsible for the collaboration and integration of project models on social networks.
A little history...
ReddCoin (RDD) is a cryptocurrency based on the Litecoin blockchain. Its task is smooth integration into social networks. This is necessary for successful, simple and effective monetization of content from different services: Facebook, Instagram, YouTube. If likes matter today in these social networks, in the near future every blogger will be able to use coins tied to likes to make a profit. Subsequently, the currency must be converted into fiat money.
The coin was announced in January 2014. It operates on the Scrypt algorithm with a PoSV generation system. Its feature is support for share ownership and activity in transactions. Initially, the coin had a 5% premine distributed among investors. The issue amounted to 28.74 billion units.
Features of technology and RDD mining
After a short practice of mining in PoW mode, the platform’s authors announced an imminent transition to a different operating algorithm. The unique PoSV algorithm, specially developed for the needs of the ReddCoin project, provided the following rules for generating new coins:
- receiving the target block every minute;
- an increase in user deposits of at least 5% during the year in the active phase of the new algorithm;
- Providing a new level of complexity is supported by the Kimoto Gravity Protocol.
Where and how to buy ReddCoin
Positive news about cryptocurrency ensures a stable level of demand. Those who did not have time to invest in the project at the initial placement stage, to purchase cryptocurrency, need to visit one of the exchanges that has RDD turnover. Trading platforms hosting cryptocurrency support active user transactions.
You can buy cryptocurrency today on the following platforms:
- Yobit . For now, you can buy coins with the ticker RDD here only for bitcoins. Before purchasing the first coins, you must top up the client’s internal account. To successfully complete the transfer, the user will need to have a balance on the account with a margin of 0.2% - this is the internal commission of the exchange;
- Bittrex;
- Bluetrade . To complete an operation to purchase RDD, you will need to top up your internal balance from your BTC wallet;
- UPbit.
Buying Reddcoin on the Yobit exchange
You can also visit one of the exchangers to purchase coins. True, in this case no one guarantees a successful exchange rate for the transaction, since all points are private.
Reliable investments on the Internet
Views: 1,870
Cryptocurrency ReddCoin
Nowadays virtual currencies, or cryptocurrencies, are very popular. Cryptocurrency is a digital peer-to-peer medium of exchange that exists without a central authority or banks managing its transactions. The first such currency was BitCoin, but over time, altcoins began to appear, that is, copies of the famous cryptocurrency, which are also called forks.
What is the principle of operation of such virtual machines. currencies? It consists in the fact that you buy a currency, wait for its price to rise again and sell it at a higher price than you bought it, thus making a net profit. Based on this, we understand that for such operations the price of the currency must rise. One of the altcoins that is growing in price is the ReddCoin .
The ReddCoin cryptocurrency was created recently and is a social currency. Social media is now a part of our daily lives. Thanks to social networks, every person on this planet has a fair chance to show the world how amazing they are. ReddCoin virtual currency enriches people's social lives and makes digital currency easy for the general public. It does this by integrating the digital currency platform with all major social networks to make the process of sending and receiving money enjoyable and rewarding for everyone.
You don't need a bank or any central authority to use cryptocurrency. Reddcoin is powered by its users. With it, you are essentially your own bank.
Of course, the mechanism of how cryptocurrencies work is very complex. Let's face it - the average person has no idea how they work. Perhaps some people would like to get involved in mining, but usually don't know where to start. Reddcoin's goal is to fill the void in the use of cryptocurrencies. That is why the currency integrates with all social networks and makes the process of exchanging coins simple for both the seller and the buyer.
After the incident with the Latium cryptocurrency, which turned out to be an ordinary referral project, many users are wary of new cryptocurrencies. How to check the authenticity of a currency? To understand whether the currency is real, it is not enough to go to the official website. You need to remember that a working cryptocurrency has a wallet-application that needs to be downloaded on the official website. This wallet allows you to do mining. In addition, you should be able to exchange your currency into other types of altcoins. Based on the fact that ReddCoin corresponds to the above, we can say that it really works.
How does ReddCoin mining work?
To mine this currency you need to create a ReddCoin wallet . To get started, go to the official Reddcoin website and download the wallet for your operating system. Then you need to open it and click on the “Synchronize” button. The downside is that the synchronization process takes a long time, about a week, since you download all the transactions.
Your wallet will be involved in all transactions, as well as in searching for new blogs. The main advantage of such a wallet is that it starts mining Reddcoin on its own, that is, you get money for its existence. The amount of money earned directly depends on the amount of time spent online with this wallet, and the amount that you have in your account.
This method of earning currency is called POS mining, that is, your wallet is always on and within a couple of days the coins are automatically credited to your account. You can view all transactions and the time at which coins were credited by opening a window in the right corner of your wallet. For security, it is better to encrypt your wallet and put a password on it. It is also recommended to make a backup copy of your wallet (click “File” in the left corner, and then “Make a backup copy”). This way you can restore your wallet with all the coins in your account.
What is the ReddCoin currency rate?
Today ReddCoin price for 1 RDD is 0.00007 USD. Currently, there are 28.3 billion in circulation, and the trading volume is $29,030.4.
Let's consider the price of ReddCoin currency in comparison with other currencies.
- 1 UDS = 14,248 RDD
- 1 BTC = 16,666,666.67 RDD
- 1 DOGE = 7.76 RDD
- 1 LTC = 183,150/18 RDD
The most popular ReddCoin exchanges are:
- bittrex
- bluetrade
- yobit
- cryptopia
Conclusion
Of course, the ReddCoin is not as popular as BitCoin, but it is still a good way to earn money. Like other altcoins, it has its advantages and disadvantages. This is the first social coin that provides the opportunity to earn money on social networks from clicks, likes and other actions. The currency has an easy-to-earn POS mining function, which makes it even easier to earn coins. You just need to download the wallet app and keep it turned on.
How to earn more on cryptocurrency. Cryptocurrency exchanges.
Investments in cloud mining.
Investments in ICO projects
(Visited 52 times, 1 visits today)
Redcoin Wallet
Adaptability to current blockchain technology allows you to store currency without downloading and installing an application developed by the RDD team, you can use universal wallets. The Coinomi application is suitable for storing RDDs for the first time. To master the full functionality of the ReddCoin project, you can subsequently switch to proprietary software offered by the RDD team.
The instructions or Bootstrap guide for the Redd Wallet wallet are in many ways similar to the rules for using wallets operating in peer-to-peer networks. In addition, the application works on popular platforms Windows, macOS and Linux.
Pros and cons of the coin
The advantages of the currency include the following:
- strong support from both the specialized community and the environment for which it is intended;
- the main programming interface is the social API;
- fast and easy payments within the system, including exchange transactions;
- integration of business opportunities. Entrepreneurs can participate in the project under special conditions.
Disadvantages of cryptocurrency:
- For a branded wallet to work, you need to download the entire blockchain. The updated file takes up more than 100 GB of space;
- The ReddСoin coin is practically not found on social networks, which puts strong pressure on the cryptocurrency rate.
