Reddcoin (RDD) is an open-source cryptocurrency that
was ‘hard-forked’ from Litecoin. It was launched on January 20, 2014 as the
digital currency on Proof of Work (PoW) algorithm through the initial public
offering of coins (IPCO) on BitcoinTalk.Org. Reddcoin is often referred to as a
‘social currency’ because it was created for enabling payments in social
networks. After attracting more than $100,000 in IPCO to support the
development, Reddcoin was released to the public on February 2, 2014.
Initially, 109 bln RDD coins were issued, with
approximately half of them mined before the end of 2014 through the Proof of
Work (PoW) system. On April 29, 2014, it was announced that Reddcoin will
switch to a completely new proof of the placement speed algorithm (PoSV),
starting from mid to the end of the third quarter of 2014, and will have a
constant annual inflation rate of up to 5% with an uncovered monetary limit.
Today, it’s the 96th coin by market cap, and the team of developers with John
Nash in head continues working tight-lipped on the project.
Here’s a breakdown of main Reddcoin blockchain
Reddcoin Fundamental Value
Imagine the possibility of gaining coins for your
activity in social networks: likes on Instagram, views on YouTube, and so on.
Reddcoin makes earning in social media possible! Moreover, the unique
underlying blockchain renders lots of great benefits:
Redddcoin Proof of Stake Velocity is an innovative algorithm that encourages both Stake and Velocity. PoSV solves problems in traditional PoW & PoS algorithms and eliminates wasteful energy consumption for mining.
Reddcoin’s decentralized Tip Platform allows people to send and receive digital currency on social networks to anyone in the world and support content creators through micro-donations.
Redd-ID is a blockchain-based service that allows the user to connect his username with some certain data, including public keys and media network identifiers.
ReddWallet is a modern wallet that provides various social functions to increase interaction between users, which increases the security of a decentralized network.
So, what’s the role of Reddcoin in that? The creators’
idea is to enable microtransactions (that’s why the coin’s low price is so
convenient) in social networks. Unlike Steem blockchain, Reddcoin’s API
supports all major social media platforms and can be integrated into payment
An interesting note: Reddcoin market cap has been quite stable throughout the time of its existence with only one exception. In 2017-2018, the price of Reddcoin surged thanks to the massive bull run. However, it fell as quickly as it grew. During 2018, Reddcoin price fell to the current $0.0013 level. Despite being launched 5 years ago, the project is still young and has to fight for its place under the sun. Reddcoin is stable: a huge amount of REDD coins issued and a non-changing market cap are what hinders the growth Reddcoin current price.
Reddcoin (RDD) Technical Analysis
Check the Reddcoin market situation: here’s a
technical analysis from TradingView. As we see, the currency is in the same
downtrend as all other altcoins.
Reddcoin Community Reputation
The opinions about Reddcoin differ. On BitcoinTalk forum, people
say it was a great investment option (RDD price jumped from 7 satoshi to 160
satoshi), others claim that it’s useless. On reddit, users acknowledge the
potential and power of Reddcoin, but admit it will never get close to Ripple
(both have an enormous circulating token supply).
Recently, Reddcoin was mentioned in Forbes as a
promising blockchain startup:
Some users praise Reddcoin for 5% investment returns,
which serves as a great alternative to mining.
It goes without mentioning some interesting features
that users like:
Generally, Reddcoin continues gaining traction – the
number of people aware of it and actually using it are multiplying.
Influencers Projections on Reddcoin
What about Reddcoin price prediction? It’s very hard
to provide any exact numbers as the market of cryptocurrency is very complex
and still young. Twitter users are sure that RDD won’t start growing until the
alt season starts:
Meanwhile, crypto analysts make RDD price prediction:
According to Torsten Hartmann from captainaltcoin.com, RDD will not reach $0.01. Most likely, RDD price will move sideways or stay at the current level.
Ray King from BitDegree bases his prediction on the numbers provided by CoinCheckUp. In 2020, it can reach $0.0259.
On WalletInvestor, in 2020, RDD will hit $0.0003 level, which is a pessimistic outlook.
On TradingBeasts, Reddcoin price prediction 2020 is $0.0022 with a maximum of $0.003.
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It’s not likely for Reddcoin RDD price to multiply in 2019 – there is nothing to add to the coin’s value. The altcoin season hasn’t started yet, which means Reddcoin price might stay the same until the end of 2019. As for RDD price prediction 2020, it might touch $0,0022 level easily, but further growth should be conditioned by the hype, bullish market trend, and developers’ activity.
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article should not be considered as offering trading recommendations. The
cryptocurrency market suffers from high volatility and occasional arbitrary
movements. Any investor should research
multiple viewpoints and be familiar with all local regulations before committing
to an investment.