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Reddcoin (RDD) is a decentralised cryptocurrency platform that enables people to send Reddcoin via any social network with zero transaction fees. For example, in addition to normal social gestures such as likes and retweets and other shares, with Reddcoin you’ll also be able to micro-tip.
Micro-tipping is an interesting concept and one that is already in use on platforms like Steemit. The idea is, that financial reward will incentivise producers of content to work harder at publishing material of a higher quality in pursuit of gain.
Reddcoins are creating not by mining as is the case with Bitcoin, but with minting. Anyone with a computer can mint Reddcoin with a low technical barrier to entry. This makes the production of Reddcoin environmentally friendly.
You have to wonder though, “what is taking Reddcoin so long to come to market?!”. One possibility is the conflict between anonymity and the need to identify people as individuals. While most other cryptocurrencies and blockchains uphold the privacy of transactions, Reddcoin needs to work in a social context where individuals are known explicitly.
Reddcoin will be extremely interesting to watch. Can it influence worldwide user behaviour? Can it improve the quality of content published socially? Let’s hope they come to market soon!
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