Albuquerque, NM – Could 29, 2020 – Feisty underdog and first era cryptocurrency Reddcoin (RDD) launched the PoSV v2 consensus algorithm activation course of on Christmas Eve 2019 enhancing all aspects of help of the native lightning-quick blockchain to a self-funding unbiased mannequin. That work has culminated in latest days and shall be activating shortly, marking a transition for the never-say-die Reddcoin (RDD) growth staff and the undertaking as an entire.
Reddcoin is a uniquely community-driven and user-focused decentralized cryptocurrency established in 2014 and working seamlessly for six years. A member of the BITA50 and ALT100 crypto-indices, and a “Prime 100” undertaking with a market cap of roughly 40MM US, Reddcoin can also be an all-volunteer and self-funded group.
In contrast to most within the blockchain area, having by no means skilled a big safety incident or hack is six years of operation, as a result of nature of Reddcoin’s distinctive proof-of-stake-velocity (PoSV) expertise, Reddcoin stands alone as a safe fee expertise, with minimal {hardware} necessities, and an ecofriendly, less-energy-wasteful method to socially accountable expertise. With hundreds of lively wallets, exchanges, on- and off-ramps to fiat and different currencies, customers and enterprise can take pleasure in and leverage a full-featured fee gateway suite of providers.
Reddcoin can present point-to-point, multi-party, or full-suite service provider, transaction and remittance providers at a fraction of the price of conventional PayPal or bank card transactions with lightning-fast completion and state-of-the-art safety and cryptographic safety in opposition to counterfeiting, fraud and information manipulation. Reddcoin additionally provides members in its community computerized interest-like “staking rewards” in addition to zero-to-low-fee transaction prices, reducing the bar for entry for any enterprise, webstore or particular person trying to take part within the new period of fintech.
The brand new algorithm and staking guidelines constructed into PoSV v2 will activate as soon as supermajority of 9000/10000 blocks has been reached, estimated inside the subsequent weeks. As soon as that time has been reached, all remaining older Reddcoin wallets will have to be upgraded to be able to spend or stake. As famous within the undertaking’s re-released 2019 Redd Paper, out there on the web site at (https://www.reddcoin.com/reddpaper), the brand new options of the PoSV v2 algorithm powering Reddcoin embrace such objects as:
“Participation Incentivization”, which guarantees to multiply stake rewards as much as 5x for all lively customers in keeping with dynamic community staking participation variables; The “Reddcoin Restitution Fund”, geared toward changing ReddHead group members misplaced or stolen funds; The “Reddcoin Charity Initiative/Meals &Provide Financial institution”, providing extra direct help to these in wants amongst and outdoors the group, and extra.
These new options and packages overlay one of many quickest current cryptocurrencies, zero-to-low-fee transactions, 60s block occasions, and ecofriendly all-platform staking choices, providing a compelling worth proposition together with the uniquely supportive and transformative Reddcoin “ReddHead” group.
Led by a devoted staff of open, clear, and engaged volunteers, Reddcoin is all the time looking out for expertise to assist obtain the envisioned options and merchandise. As one of many unique cryptocurrencies, and an all-volunteer growth staff, Reddcoin is poised to launch by 2020 quite a few tipping and content material creator reward functions together with the relaunch of ReddID, using the distinctive properties of the RDD ecosystem to permit tipping and spendable rewards fully free from restriction and censorship.
Study extra at https://www.medium.com/@techadeptor the primary Reddcoin web site.
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