Reddcoin (RDD) has taken ablaze the cryptocurrency market this week, surpassing the daily trading volumes of both Bitcoin and Ethereum in a week that saw the price soar by 63%. RDD is a social media cryptocurrency that allows its users to gift followers and creative content creator’s rewards through a decentralized and almost free transactions.
The altcoin launched its proof of Stake (PoSV) two months ago and has experienced steady growth until the start of 2018 when the coin’s price was pushed to an all-time high of $0.033. The coin is currently at the top of the rankings in volume of traded digital coins within the last 24 hours. Investors and the Reddcoin community are rushing to fill up their stocks after the recent announcement that the coin is now trading on Upbit, one of the largest cryptocurrency exchanges in Korea.
“Sentiments from those who have had the opportunity to be tipped indicate that the coin has the aspect of content appreciation through paying crypto monies while the transaction costs remains to be one of the lowest in the market.”
The altcoin has seen its price soar to highs of $ 0.0118103 and a partial low of $ 0.00640976 in the past week. The coin falls among the most traded micro-cap cryptos with a 5 day volatility of 14.22% which is quite low given the up and down movements in the crypto space. However, the coin still has a long way to go given its relatively small market cap coin, currently at $294,898,640 USD, which ranks the coin at 71st position according to Coinmarketcap market capitalization rankings.
RDD, currently one of the most interesting cryptocurrencies around, connects social media to the blockchain technology presenting new avenues for payments across various social media platforms. RDD allows its users across various platforms such as Twitter, Facebook and Reddit to be tipped through the cryptocurrency. Sentiments from those who have had the opportunity to be tipped indicate that the coin has the aspect of content appreciation through paying crypto monies while the transaction costs remains to be one of the lowest in the market at 0.1 RDD (<$0.001).
Social X is one of the factors that contributed to the development of Reddcoin (RDD) to its current state and has been identified as the vehicle to take Reddcoin to the next level. The project which is quite broad had encompassed many aspects of Reddcoin into its network to address inefficiencies identified in Reddcoin and other online currencies. Developing the coin has been the core mission of the management and development team but the coin has faced a couple of challenges arising from the network itself.
The good news is that Social X is about to address all of Reddcoin’s problems. The new product offers good solutions which will reward both social media fanatics and cryptocurrency enthusiast in equal measure as they all bid to own a portion of this social coin.
“RDD, currently one of the most interesting cryptocurrencies around, connects social media to the blockchain technology presenting new avenues for payments across various social media platforms.”
The coin is setting its heights on being king in the social media arena and overpowering other coins such as NEM, DOGE and Ethereum which are also used in tipping on social platforms. However, RDD is way ahead in terms of the cost of transaction which is usually below 0.02RDD.
Why will RDD price hit $1 in 2018?
- Simplified Payment Verification
The coin will solves the problem of transaction storage; reliable nodes are synced with wallets and the Reddcoin (RDD) user maintains the functionality of Reddcoin QT wallet at faster and less bulky data from the transactions.
The coin currently trades at a low price of a hundredth of a dollar, $0.01 giving it massive potential for growth. The cheap qualities make it far more suitable to tip on social media while the low transaction costs makes it ideal for everyone to use.
- Private/Public deterministic keys
Social X aims at introducing deterministic wallets to solve the issues of back-up requirements. Users will be using a pass phrase which reliefs the need to remember long alpha-numeric private keys.
- Special Wallets
Advanced users will have the privilege of creating public keys as a move towards protection against private-key associated theft.
Tipping will no longer be anonymous; this new important feature in Social X will enable social media account addresses to be linked to public keys. Charges on registering in the network will depend on the length and popularity of a given name. Reddcoin will also integrate additional services from blockchain that may eventually lead to decentralized and trustless tipping across social media platforms.
Even as Reddcoin (RDD) price continued its remarkable bullish run this week, climbing over 60%, the coin doesn’t show any signs of slowing down yet. Reddcoin (RDD) currently trades at $ 0.010 and is looking bullish in both the trading volume and price. Tweet this cause surely the RDD is headed for $1!