WHAT IS REDCOIN ?
Reddcoin (RDD, Ɍ) is a type of cryptocurrency. A cryptocurrency is a digital peer-to-peer medium of exchange with no central authority or banks managing its transactions, unlike fiat money that derives its value from government regulation or law (e.g. The U.S. Dollar, Euro, etc.). You do not need a bank or any central authority to use cryptocurrency. Reddcoin is powered by its users. With Reddcoin, you are essentially your own bank.Reddcoin is dedicated to one thing – tipping on social networks as a way to bring cryptocurrency awareness and experience 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.Cryptocurrencies are complicated. Let’s face it – the average person has no idea how cryptocurrencies works. They would like to get involved, but usually have no idea where to start. Reddcoin's objective is to 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.
HOW WILL REDCOIN BE USED?
Reddcoin was conceived to be a full-fledged social network coin - or as we like to say, The Social Currency. The developers are currently building a hub that will manage the various social media tipping accounts that will be created on Facebook, Instagram, YouTube, etc. The plan is to make Reddcoin into a hybrid of e-currency/crypto, reward points, etc. Basically, Reddcoin will be internet points with actual monetary value. Already, tipping has been enabled on Twitter, Twitch, and Justin.TV, as well as here on Reddit.The idea is to have a system that makes 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 in place of purchasing in-game credits. This would benefit businesses, developers, and users alike. If you buy credits in-game or for a specific site, you're stuck to using them in only that place. With Reddcoins, you could potentially use them any number of places, helping ease fears over purchasing game or site credits.The plan for Reddcoin is to essentially 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.? Now imagine being able to exchange 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 things that take zero effort that you are probably already doing for free anyway.
