Reddcoin is the true Social CryptoCurrency

Reddcoin will be dedicated to tipping on social networks as a way to bring cryptocurrency awareness to the general public. Social networks are now part of our everyday lives. They give every person on this planet a fair chance at showing the world how awesome they are. Getting an upvote, like, or retweet for your well-received comment or picture is fun, but unfortunately, they have no real value. Fortunately, there is now something better than imaginary internet points – Reddcoins. Cryptocurrency is complicated. Let’s face it – The average person has no idea how cryptocurrency works. They would like to get involved, but usually have no idea where to start. Reddcoin will fill those voids by integrating a seamless cryptocurrency tipping system with all major social networks to make the process of exchanging coins simple, fun, and rewarding both for the giver and the receiver.

Reddcoins lead developer was Larry Ren, who announced the development of a new network algorithm Proof of Stake Velocity (PoSV). Larry Ren introduced Reddcoin on January 20, 2014 and officially launched February 2, 2014. After Larry Ren stepped down from the project, he promoted John “Gnasher” Nash as the lead developer for Reddcoin. The idea is to have a system which will make it easy for people and businesses to auto-tip people, re-posts, etc. Then people can use their Reddcoins on websites to purchase items or use them in games like Freemium games which have in-game credits that you purchase, but you can use Reddcoins instead. This would benefit businesses, developers, & users. If you buy credits in-game, you're stuck to using them only in that game. Instead, if you have Reddcoins, you can use them elsewhere which would make you more positive about spending money in a game since you can easily move it. The plan is for Reddcoin to be the internet's official "like" button. Can you imagine being tipped on Instagram for your picture upload, on Facebook for your location check-in, on YouTube for a silly video you uploaded, on Reddit for your witty comment, etc. then being able to exchange all those Reddcoins instantly for physical goods or gift cards? Or even transferring all your Reddcoins to a game you love playing? You would be getting paid for stuff that takes zero effort that you already do for free.

Nobody owns the Reddcoin network much like no one owns the technology behind email. Reddcoin is controlled by all users around the world and is powered by its users. While developers are improving the software, they can't force a change in the Reddcoin protocol. In order to stay compatible with each other, all users need to use software complying with the same rules. Reddcoin can only work correctly with a complete consensus among all users. Therefore, all users and developers have a strong incentive to protect this consensus.

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