ReddCoin (RDD)

$0.00121 (-6.01%)

CMC# Market Cap (USD) Volume (24hr) Circulating Supply NVTS Change (7d) Change (24h) Savings Per 1K
103 $34,868,900.00 $91,578.60 28,808,700,000 RDD 91 -6.01% -2.49% $0.07

Exchange Pair Volume (24h) Price
CoinExchange.io RDD/BTC 10,473.18 0.0000001100
Bittrex RDD/BTC 58,211.00 0.0000001200
Upbit RDD/BTC 58,211.00 0.0000001200
Trade Satoshi RDD/DOGE 0.75 0.4300000000
YoBit RDD/BTC 593.63 0.0000001200
YoBit RDD/RUR 8.26 0.0826200000
YoBit RDD/USD 0.00 0.0012899800
StakeCube RDD/BTC 0.45 0.0000001100
Trade Satoshi RDD/BTC 21.41 0.0000001100
CoinExchange.io RDD/ETH 0.00 0.0000072600
Altilly RDD/BTC 0.00 0.0000001700
C-Patex RDD/BTC 0.00 0.0000001100
Altilly RDD/USDT 0.00 0.0001100000
Trade Satoshi RDD/ETH 0.00 0.0000061900
Nova Exchange RDD/BTC 0.00 0.0000001200
Nova Exchange RDD/LTC 0.00 0.0000121800
Trade Satoshi RDD/USDT 0.00 0.0014999900
Nova Exchange RDD/DOGE 0.00 0.4573402300
Atomars RDD/ETH 0.00 0.0000080000
Atomars RDD/BTC 0.00 0.0000002200
Atomars RDD/USDT 0.00 0.0023770000
Freiexchange RDD/BTC 0.00 0.0000000700
YoBit RDD/WAVES 0.00 0.0009960100
BitOnBay RDD/BTC 0.00 0.0000002200
YoBit RDD/DOGE 0.00 0.4920000000
YoBit RDD/ETH 0.00 0.0000070900

Background

Reddcoin aims to be a cryptocurrency narrowly tailored for social media platform use, something the team believes is a key catalyst for mainstream cryptocurrency adoption. Tipping, purchasing content, storing donations, and general social-based monetary exchange is a growing practice that Reddcoin hopes to direct toward the cryptocurrency market. Larry Ren, Reddcoin’s lead developer, explains Reddcoins utility in terms of monetizing user-generated content (e.g. likes, shares, retweets) via a cryptocurrency token that is designed to become a “social unit of account” across these online media platforms. The volume of emotive interactions like “likes” is something Reddcoin hopes to expand and financialize.

Technology

Reddcoin switched from proof of work (PoW) consensus to proof of stake velocity (PoSV) on August 2, 2014. The Reddcoin developer team is dissatisfied by certain design trade offs made by PoW and PoS (e.g. miner incentives or initial distribution, respectively). PoSV is designed to facilitate faster, smoother exchange of coins between network participants, a useful feature for social media platform interfacing. PoSV also relies on the monetary theory that higher currency velocity causes a stronger economic market. For Reddcoin, PoS too heavily incentivizes hoarding and PoW restricts the monetary supply (ergo circulation) too severely. High stake velocity is a signal that Reddcoin's goals for the protocol are being met. PoSV does borrow from PoS in that forking is very difficult, at least. Reddcoin references forking in terms of "cloning", and cloning a protocol would confuse users, according to Reddcoin. Preventing protocol cloning via certain PoSV characteristics makes that consensus mechanism very important to the team's goals.



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