At a time when most cryptocurrencies are dropping in value, it is refreshing to read about one that is actually doing well. Well, step aside for Reddcoin; the social currency that has just been going up and up. It is currently up by 20%, which is a huge gain, when you consider the whole cryptocurrency market is down this year by a massive percent.
So, what is Reddcoin, and why is it making such huge gains? It is a new social currency, that makes virtual currency easy for the general public, by integrating a digital currency platform seamlessly with all major social networks to make the process of sending and receiving money a fun and rewarding process. In this era, everything is done on social media and there are so many different forms, making Reddcoin very current and in focus at the moment. There is a huge market for it out there, so it is no wonder that it is currently doing so well.
There are a number of features that really makes Reddcoin stand out from others. It uses Proof of Stake Velocity, which is an innovative algorithm, that encourages ownership and activity. This completely eliminates the unnecessary wastage of electricity when it comes to mining. The decentralised Tip Platform allows users to send and receive digital currency on social networks. On top of this, it uses Redd-ID, which is a completely unique service, that is provided at blockchain level, allowing users to add a username to information and a state of the art RedWallet, which provides different social features designed to increase the engagement among users, which improves the security.
There is no saying how long Reddcoin will be seeing positive gains like it is, but if it carries on the way it is, it could be a top performing coin of the year.