ReddCoin (RDD) prides itself as the number one blockchain social currency as it is widely integrated into the major social network as a means of receiving or sending money on social media.
The company is currently the go-to digital currency to tip users on Reddit, Telegram, Twitter and Facebook.
The blockchain company had earlier announced in June of its acquisition of all Legal documents which redefined its coin RDD as a utility token instead of a security token.
This development meant that the RDD is free from the constraints of security regulations from multiple global agencies and can be used to transact with regulated institutions, which would allow RDD become one of the valuable coins in the social market sphere.
ReddCoin also released a Beta version of its plug-in for its ReddCoin ID, called the ReddID Social Tipping Extension and Platform which helps to synchronize all users’ social media account to a single Reddcoin ID.
This according to Reddcoin would ensure easy alerts concerning tips or rewards on various social media accounts without having to log in to your account.
This means that you can get tips from Facebook, Twitter, and YouTube all from a central page as all accounts are linked to your ReddID.
ReddCoin began testing the Beta version of the ReddID on the 29th of July with around 90 users and have gotten good responses from the majority of the testers. ReddCoin has also solicited for more testers who can apply via email or the official Telegram group.
ReddCoin released some guidelines regarding the integration of the ReddID tip function to smaller social media websites. They revealed that they are working on a plugin mechanism which would perform a similar function from those lesser known sites.
The blockchain company also revealed that lots of work are in place to ensure that the Beta version is working properly and solicited the support of its users to test the new version.
ReddCoinID beta is a good development for the cryptocurrency as it is vital to link various accounts in one secure and reliable environment which ReddCoin ID provides. Also, the improved features listed by the company shows that it is ready to move on to the next level.
Features of the Beta version
Some of the new features included in the Redd ID social Tippling Extension and Platform beta version includes the following.
- Automated review of names to ensure validity before sending out to network
- Display of feedback to users during registration process via the responsive user interface
- Access to Enable/disable order/registration buttons according to the current state
- Fixed typo on Twitter => Twitter preventing name lookups
- Improved twitter title display on user interface
- Fixed rendering of duplicate tipping buttons on twitter
- Fixed Reddit title extraction bugs
- Now Facebook title and URL extraction is improved
- Fixed rendering of duplicate tipping buttons on YouTube
- New Improved URL retrieval of comments on YouTube
ReddCoin was released in 2014 making it one of the oldest crypto in circulation. It allows users to send and receive RDD payments on social networks. Every transaction received or sent comes with o transaction fee.
ReddCoin is currently ranked 89th among the top 100 cryptos in the world and has a market cap of $86 million according to Coinmarketcap. With a massive 28 billion RDD in circulation making it one of the mos widely distributed crypto in the market.
The digital coin allows seamless transfer of money to anyone via their social media platform and is the blockchain solution to Facebook cash and Snap cash. It is also better than these transfer method as you can integrate the ReddID into multiple social media platforms.
ReddCoin differs from the popular Bitcoin as it uses fewer energy requirements for mining. Unlike Bitcoin proof-of-work protocol (POW), which consumes huge amount of energy, ReddCoin uses proof-of stake velocity protocol (POSV) which is more energy friendly.
ReddCoin is a relatively stable coin and has not had massive upswings or downswings since its introduction in 2014. This makes the crypto to build a loyal user-base due to its relative stability.
ReddCoin has an active online community with a presence on Twitter, Reddit and Telegram. It will be interesting to see how the ReddCoin ID would thrive when the official version is released.