ReddCoin (RDD)

Launched in 2014, Reddcoin (RDD) is a non-ICO, 100% volunteer-run decentralized cryptocurrency used to send and receive payments through social media channels (like Twitter, Reddit, and Twitch) worldwide without the need to partner or formally integrate with those platforms.

The platform-independent technology is available on most common hardware and operating systems. Coins are mined 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). This algorithm also allows Redd to self-fund operations using a small percentage of its staking rewards to cover operating expenses.

In 2020, with over 60,000 followers on social media (called ReddHeads) and listed in over 50 countries, Reddcoin was rebranded as “REDD”. The organization aims to champion a movement that brings value, balance, and leverage to the masses while rewarding people for their efforts. As society and technology evolve, and the concepts of “work” and “income” become more fluid, systems are needed to empower people, level the playing field, and provide stability.

Reddcoin was initially created around the concept of tipping. While it continues to focus on this, its ecosystem has expanded to include features that facilitate broader adoption in everyday experiences. This includes integrating globally accepted credit and debit cards as onramps into mainstream commerce and financial transactions. The platform also supports API hooks for e-commerce systems to integrate promotional products and service offerings.

What Makes Reddcoin Unique?

Branded as the “Social Currency,” Reddcoin is primarily used to transfer value worldwide via social media channels. Additional use cases include generating income for digital content creators on social media who utilize tipping tools. Artists can monetize their work through tips, likes, or merchandising using e-commerce, regardless of scale—from street performers to bands in a 50,000-seat stadium. Reddcoin also supports humanitarian, social, and community-based initiatives.

Current industry applications include social media influencers, arts, entertainment and recreation venues, publishing, performing arts, spectator sports, museums, social assistance programs, non-profits, and civic and religious organizations.

As a micro-currency, Reddcoin can support unbanked populations worldwide. Its technological features offer endless possibilities, limited only by imagination and the will to innovate. The holistic growth of its use cases remains untapped.

Redd’s ecosystem was designed to have broad applications, providing transformative impacts at little to no cost to users, ultimately aiming to benefit society.

Core benefits include an inflation/interest rate of about 5% annually for staking, a circulating supply of over 29 billion RDD coins, 60-second transaction blocks, and zero to extremely low transaction fees based on volume.

Reddcoin’s technology underpins Redd’s social movement, as detailed in “The Redd Book”. This document outlines the organization’s vision and real-world applications of its innovations, which have the potential to impact everyone.

Who Are the Leaders of Reddcoin?

The leaders of the Reddcoin project are Jay Laurence and John Nash. Jay Laurence, an experienced network engineer and technology consultant, is listed as the project leader, while John Nash is an experienced programmer, solutions architect, and technical evangelist.

The core team includes numerous volunteers, ranging from full-stack developers to designers, social media ambassadors, marketers, advisors, and more.