Reddcoin: The Digital Currency Receives Huge stacks In a Week

by John Smith Technician

Reddcoin, a considerably known digital currency rates popped up by the end of 2017. In the last weeks of the past year, one major action was a made by this nearly new currency called Reddcoin. According to the reports of Bitcoin, the newly introduced crypto currency gained a hike of 500% within a week just before achieving Rs. 1.6 Billion of market capitalization.

What is Reddcoin?

Reddcoin is a digital currency used an extensively on social media. The currency came into existence in 2014 and its demand remained flat till the middle of May 2017. Reddcoin was created for mini online transactions and other uses on social media that included platforms like Reddit. This social currency is widely used on major social media platforms like Instagram, Twitter, Reddit, and Facebook. On marketing perspective, the currency is somewhat upfront as it does not have a unique tackling control of social media in this way.

Though Reddcoin offers an effective technological feature of PoSV i.e., proof of stake velocity algorithm. PoSV is a new way of verifying blocks. To establish value in the market, Reddcoin uses both control and activity.

Is Reddcoin currency Safe to use?

Verifying blocks on Reddcoin is a method of minting. The method basically means making digital coins. One of the major advantages of PoSV technology is that it consumes remarkably less computing potential than the process of mining does. So eventually, every user who operates Reddcoin is a minter. A user can also perform transactions using their mobile devices. Also, depending on the value of Reddcoins, the more you have it, the chances will be grater to find blocks and earn supplementary rewards.

On a comparison with the world’s most widespread cryptocurrency Bitcoin, Reddcoin is more user-friendly. The digital peer-to-peer means of exchange does not use any electricity-determined proof-of-work mining method. On the other hand, Reddcoins can be also be earned. The process of Reddcoins earning will be through the process of minting. You can easily access the app even on a conventional laptop or a smartphone.

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