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What is Reddcoin? Reddcoin Minting Explained.

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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.

#Bitcoin

XRP is now #2 Cryptocurrency, Ripple overtook Ethereum

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XRP is now officially the #2 cryptocurrency in the world with over $2.4 Billion Market Cap. The recent increase in the market cap was due to the rapid surge in Ripple Price after the XRapid Launch news was published.

The market cap of Ripple is now $23555443, which just surpassed Ethereum’s market cap of $23367070

Bitcoin Market cap stands at #1 at $116228274

 

Ripple Price Rise

XRP  Price broke all the obstacles and went to a swift uptrend against both Bitcoin and US Dollar. With the surging price, the total market cap of the cryptocurrency also noticed an enormous hype making Ripple the #2 Cryptocurrency after Bitcoin; beating Ethereum on the Cryptocurrency Market Capitalization list. More and more banks are utilizing the Xcurrent platform including the recent adoption by PNC , USA’s top financial services group.

 

Ethereum Price Decay

The former #2 cryptocurrency Ethereum noticed a vast decay in the previous few weeks with the reasons starting from large OTC selling by ICO’s (Initial Coin Offerings) and the ethereum miners backing out saying that ‘Ethereum Mining is no more profitable’. Ethereum price dropped down from whooping $450 in August to $190 a few days back. This has resulted to a huge number of prominent investors and traders opting out of the Etheruem Cryptocurrency stating that Ethereum has no future now.

 

Can Ripple Maintain the #2 position now or will Ethereum take back revenge? What are your thoughts on the same? Tell us in the comments section below.

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#Tron Price Analysis

10 reasons why TRON TRX price can increase massively this year

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One of the biggest reason for Tron’s (TRX) massive increase in price is its continued growth with its fundamental strength. TRON price will increase.

What is TRON?

TRON is a decentralized platform based on Blockchain and aims to build a digital content sharing platform eventually leveraging peer to peer (p2p) blockchain system. TRON first founded by a non-profit Singapore based foundation, and this foundation is specifically seeking to distribute the global entertainment industry.

Presently, lots of user data and traffic managed by a few corporations like Google, Amazon, and Facebook & Snapchat. TRON creates some serious steps to control by placing ownership of the data back into the creator’s hands.

 

Features of TRON

There are some key features of TRON, given below

  • TRON wants to heal the Internet with its entertainment features.
  • Data liberation; free and uncontrolled data.
  • Content-enabled ecosystem, where users can obtain digital assets from content spreading.
  • Personal ICO with the ability to distribute digital assets.
  • Different infrastructure which allows distributing digital assets exchange (such as games) and marketing forecasting.

 

Advantages of TRON

TRON has the biggest advantage, is its good team of developers, advisers, and investors. It’s CEO is Justin Sun, who is the protégé of Jack Ma, the founder of the Alibaba group and other advantages the fact about data creators, which are the data ownership of central and also the users on the Tron network are entitled to proportional profits granted by rules. Tron has an idea to administrate free service platforms for the public. That’s why it is operated and designed to serve the masses that enjoy entertainment content around the world.

 

Reasons for the massive increase in the price of TRON

If you are having feelings like the heat just because of the price of TRON. Well, don’t be.  This is a right time to get yourself a bit rich with the massive increase in the price of Tron. That is because what is happening now in the market is that wide crash that has seen previously in all cryptos shed a good portion of their value, with bitcoin dropping below $7700. While everything else has risen again, Tron (TRX) is in an incredibly good position with its risen up again by even bigger margins.

 

Here are the reasons why TRX price could rise:

The Mainnet Launch

In the previous scenario, just a few months ago Tron was in deep fall and it was migrating from the Ethereum blockchain to its own blockchain. But besides all this, several major exchanges have announced to support for the Tron migration, indicating that this event will be a major success as it is a strong enough reason to get into Tron at today’s prices, which reap big once the main net goes live.

 

Tron’s Drawing more in developers

In the Tron (TRX) case, its success completely depends on the team which has been pushing hard to woo Ethereum developers to the project. Tron team has used airdrops and other rewards to achieve this end. Giving them those incentives are worthwhile and one can expect the faster completion of project milestones, which will serve to further drive up the price.

  • One of the biggest reason for Tron’s (TRX) massive increase in price is its continued growth with its fundamental strength.
  • The other important reason for the massive growth is because it led by an aggressive and ambitious leader. Justin Sun, the CEO of Tron, has not only overseen the fast-tracking of milestone deadlines, but he has also decided that he wants Tron to be a top 6 coin in crypto ranking.
  • It had been hovering in this position for the last few months, until a few deep altcoin drops of the last few weeks. TRON’s peak coin price will be again high as eight cents just in a short duration.
  • From the beginning and the new holders who recently have joined, It sees a movement of about $200 million each day, give or take, and this spread across the major trading coin out there.
  • According to the price predicting; fiat trading is still extremely unrepresented here. That means is going to have an enormous opportunity to crack more fiat selling with a massive increase in prices and growth parallel.
  • Tron’s strong & steady strength which makes it continuously moving and this is also the reason for a massive increase in the price of Tron.

 

Note: This article represents only the opinion of the writer. The article is not, in any way, an investment advise. All cryptocurrency investments are risky and you should do your own research and analysis before buying or selling any digital assets including TRX.

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#NEO

Is NEO Dead? Does it have a future?

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NEO has a 100% pre-mine as well as proof of stake model which allows users to derive additional coins in the form of GAS, by holding them in the wallet.

What is NEO?

NEO is a blockchain platform and cryptocurrency designed to build and scalable network of decentralized applications. The base asset of the NEO blockchain is non-divisible NEO token which generates GAS tokens it can be used to pay for transaction fees generated by applications on the network.

 

NEO is often called Ethereum of China

The reason behind is NEO is positioned as a “public cloud” and it’s a part of a bigger strategy by the Chinese government in establishing of pre-eminence as a Blockchain platform industry leader. They want developers should use their tools and platform and develop the ecosystem.

 

Features of NEO

Delegated Byzantine Fault Tolerance (DBFT) algorithm

This is a consensus mechanism (instead of the traditional proof of work/stake) that allows the system to resist and maintains consensus even if some nodes bare malicious intentions.

 

NeoX

This system is to create the ability and to execute and operate across various blockchain.

 

NEO Contract

It is for creating the mechanism with smart contracts seamlessly in scalable, high-performance environments and that integrates pre-existing codebases.

 

NeoFS

This is a service which allows decentralized storage (like peer-to-peer Dropbox).

 

NeoQ

A matrix-based cryptographic mechanism, which create problems and  that cannot be solved by quantum computers to ensuring being quantum proof.

 

Reasons why NEO has no future:

1. NEO has a 100% pre-mine as well as proof of stake model which allows users to derive additional coins in the form of GAS, by holding them in the wallet.

2. NEO distributed coins through a crowdfunding event which allowed people to invest but NEO still made money from the sale and this is not the right thing to do.

3. NEO is divided into two batches of 50-50 million and somewhere somehow it is going to affect its future in the crypto market.

4. NEOs fund releasing is in multiple forms and this cause market dumping with some of it affects price & morality.

5. It has seen NEO attract criticism from those who consider it not to be a true cryptocurrency as its lack of decentralization.

6. NEO was built on the very badly written code exposing the network to major vulnerabilities and that its consensus mechanism was not properly implemented.

7. There is a bug ‘deep in NEO’s peer-to-peer protocol.

8. Every blockchain has its technical problem to solve, and there is no reason why NEO can’t overcome its teething troubles and alleviate over-centralization concerns given time.

9. Communication is one of the strong points for any team, but in NEO, it muddles on silence, the dissenting voices are getting louder.

10. The other major issue affecting NEO is its main use, in present springboard for ICOs. These type of projects need to prove themselves by adding some real values and more usability for NEO ecosystem.

 

The article represents the opinion of the author and is not an investment advise. You are required to do your own research and analysis before taking any decision.

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