Connect with us

Altcoins

What is Reddcoin? Reddcoin Minting Explained.

Published

on

Reddcoin (RDD) is highly popular among the social media platforms as it is mainly developed to work in collaboration with the social media platforms.

Reddcoin is nothing but a social media based payment system

Introduction

With over 1500 variety of cryptocurrencies initiated with the inception of Bitcoin, since 2009. Most of the cryptocurrencies were predominantly invented, in order to solve the problems of the current unstable centralized form of financial governance. However, many cryptocurrency tokens in the market are focused on the improvement as well as the transformation of the field, other than the financial domain too. Therefore, one can conclude that the Blockchain Technology can effectively be modeled, to fit into different domains apart from the financial one. The incorporation of Blockchain Technology along with the cryptocurrencies is so popular that it has it is consistently compared to the era when the internet was invented and a similar chaos was observed all over the world. Let’s read about a new cryptocurrency Reddcoin (RDD).

 

What’s Reddcoin?

Reddcoin (RDD) is highly popular among the social media platforms as it is mainly developed to work in collaboration with the social media platforms. Basically, Reddcoin is nothing but a peer-to-peer payment system, which would be incorporated within the social media platforms. The users, by utilizing which, would avail rewards in the form of Reddcoin for each and every update as well as popularity on the social media platform respectively. Interestingly, these funds can be exchanged for various online offers, gift cards, products, and other items.

 

Early Stages

Developed in the year 2014, the Reddcoin blockchain platform seemingly connects with the social media platforms. It allows the uses of the cryptocurrency to initiate transactions within social media with 0% transaction fees. I am pretty sure that everyone must be aware of Facebook cash or Snapcash which easily allows the social media users to transfer money to their relatives and friends. The Reddcoin platform is nothing but the Blockchain version of it.

 

Use case of Reddcoins

One of the main upper hand of the Reddcoin Blockchain platform is that it connects various social media platforms for cross payment systems between multiple types of social media platforms. It is clearly evident that major social media websites like Facebook, Reddit, Twitter, supports only their native’s payment systems but with the incorporation of the Reddcoin platform, cross payments have been made possible. The users can also send Reddcoin to the content creators of various social media platforms in the form of tips.

How does it work?

It is highly interesting to know that Reddcoin has been directly derived from Litecoin. Also, the Reddcoin blockchain platform uses it’s on developed Proof of Stake Velocity consensus mechanism in order to maintain the authenticity within its areas of interest. This mechanism was invented by the team members in order to replace its former and inefficient Proof of Work algorithm. The model, basically, is nothing but Proof of Stake mechanism but viewed from a different frame of reference. The mechanism also concentrates on the activity on the social media platforms. Here, Velocity refers to Activity and Stake refers to the Value of a user, in the process of mining.

 

Reddcoin minting:

One must be looking out for ways to mine Reddcoin, but as the cryptocurrency itself has a different application, the Reddcoins are not mined but are minted. The process of melting can easily be made possible through the usage of laptops desktops along with another form of computing devices. As it inherently incorporates, the Proof of Stake mechanism, more the amount of Reddcoin one holds in their wallet, higher the probability of obtaining a valid block and receiving the block reward respectively. They even provide a state of art Blockchain wallet, Reddwallet which inherently incorporates the social media facilities for higher engagement of the decentralized coin.

 

Availability

The crypto project seems to be reliable enough for the investment purposes and us easily available at the exchanges like Bittrex, Poloniex, Yobit, etc. The social media coin became popular, only after a Twitter endorsement done by John McAfee. It is also expected to become one of the popular cryptocurrencies, but only when transactions on various social media platforms becomes a daily activity.

 

Conclusion

When it comes to the cryptocurrency investments, it becomes highly challenging for the investors. The Steemit cryptocurrency Blockchain platform has already gained enough popularity and is one of the coins which Reddcoin has to fight in order to become the top cryptocurrency within, at least the social media.

Altcoins

Best Tools to track Cryptocurrency Markets: CryptoCompare, CoinMarketApp, CoinGecko

Published

on

There are different websites and mobile applications designed to keep the track of cryptocurrency market, we cover the Top 3 of these.

The cryptocurrency market includes the prices and market capitalizations of different Cryptocurrencies like Bitcoin, Ethereum, Stellar and many others. Currently, there are thousands of cryptocurrencies, markets are 16084 and market capitalization is about $124,123,711,224.

 

There are different websites and mobile applications designed to keep the track of cryptocurrency market, we cover the Top 3 of these:

 

CryptoCompare.com

Known for its high-end API and real-time tick data, CryptoCompare has been serving the cryptocurrency space from 2014.

Founders: Charles Hayter & Vlad Cealicu

CryptoCompare shows real-time data for more than 5300 Coins and 240k trading pairs, enough for an entire overview of the market. Users can see live Order books, historical data, reports, social data and reviews on all cryptocurrencies. The website is very easy to use and is free for everyone.

 

CoinGecko.com

We love CoinGecko because it focuses on tracking community growth, events hosted by teams and open-source code development apart from the usual price tracking, market capitalization and volume traded. It was also founded in 2014.

Founders: TM Lee, Bobby Ong & others

CoinGecko’s team is very dynamic and is very active on social media like Twitter, Telegram & Facebook. They cover more than 260 exchanges with live data and have more than 3300 cryptocurrencies. They are free for everyone to use.

 

CoinMarketApp (Mobile Application)

When it comes to easily track the live prices and your portfolio on your mobile, CoinMarketApp is the preferred choice for most. With live alerts on more than 1400 Cryptocurrencies, the app saves your time and alerts you on every move.

Download on Android

Download on iOS

Apart from cryptocurrency prices, the app lets you manage your portfolio, mining pools, new contracts and the latest news from the crypto industry.

Continue Reading

Altcoins

Cryptocurrency Market Updates: Bitcoin May fall further

Published

on

The cryptocurrency market is still facing the same bullish trend today, yet again. Bitcoin price recovered a little with trading around $4300 to $4400.

The cryptocurrency market is still facing the same bullish trend today, yet again. Bitcoin price recovered a little with trading around $4300 to $4400. Yesterday the price of bitcoin fell up to $4190. Ethereum is still trading at a year and a half low of $125. Apart from ethereum, most altcoins are showing small corrections. Bitcoin Cash moved 3% upwards while Monero has moved 4% upwards in the last 24 hours. Bitcoin Gold and Bitcoin Diamond have had good gains for the day with 8% and 16% rise. IOTA is trading at around $0.32 which shows a 6% improvement from yesterday’s price. NEO is up by 5%. However, the small gains are nothing in front of the massive downtrend these altcoins went through in the past couple of days.

 

Cryptocurrency Market Capitalization Improved

The total cryptocurrency market cap yesterday came down up to $136 billion which was the lowest of 2018. In the last 24 hours, cryptocurrency market has managed to add $4 billion in the market capitalization adding to $140 billion. Over the last week, the cryptocurrency market had lost over $40 billion and over the last month, around $70 billion have been erased from the cryptocurrency market capitalization which is yet to be recovered.

 

Bearish predictions for bitcoin

While the market cap is trying to recover the price predictions for bitcoin still remain bearish as many cryptocurrency analysts have predicted that the only support after the current significant support of $4000 is at $3000. So if the price drops below $4000, it will definitely reach down to $3000 after which the price is expected to recover.

 

The overall situation of the market is still harsh as there is no major recovery from the massive losses that occurred in the past few days. What do you think about the bitcoin predictions being made by crypto analysts? Tell us in the comments section below.

Continue Reading

#Bitcoin

Bitcoin Cash Hard fork screwed the whole cryptocurrency market

Published

on

Whole cryptocurrency market is suffering because of the continues wars going on between ABC and SV which has created a bad reputation of the crypto space.

The original Bitcoin Cash split into Bitcoin ABC and Bitcoin SV during the hard fork but no one is sure to weather BCHSV or BCHABC will survive in the market as the hash wars still continue. The hard fork has lead to an uncertain future of Bitcoin Cash and also screwed the whole cryptocurrency market. The Price of both the new coins is on a continues decrease where Bitcoin Cash ABC values at around $226 and Bitcoin Cash SV values at around $76.

 

Cryptocurrency Market Crash

The whole cryptocurrency market is suffering because of the continues wars going on between the two teams which have created a bad reputation of the crypto space to the newbies. At this time when more and more institutional investors were entering into the cryptocurrency space, the hard fork has created a feeling of Fear, Uncertainty and Doubt amongst them.

 

BTCUSD yearly chart

BTCUSD yearly chart

 

As the hard fork started, the entire cryptocurrency market faced a downfall where all major cryptos are on a 6 month low with bitcoin trading around $5200 that is a yearly low for the most dominant cryptocurrency. The decline is the price has created fear in the minds of investors who are now talking about capitulation.

 

Should Craig Wright be blamed?

Craig Wright who claims to be the real Satoshi Nakamoto and the founder of the original bitcoin has been funding his side of the war using BTC. Cryptocurrency enthusiasts around the world are criticizing Craig Wright and also calling him a lier.

 

 

The local media’s role

The real reason behind the rise of cryptocurrency and blockchain was the mass adoption by people who heard about it through local media. At that time, the local media described bitcoin and other cryptocurrencies as the future of money explaining the decentralized nature of such currencies, but now due to the wars within the cryptocurrency ecosystem, the local media has started to criticize cryptos and people have started to lose faith in the crypto market.

If the amount of money being used in such hash wars would have instead been used for the development of the crypto ecosystem with advancements such as lightning network, the market could still be flourishing rather than being on the verge of getting sunk.

Continue Reading

Trending