ReddCoin
Crypto Overview
Overview
ReddCoin (RDD) was launched in 2014 as a social media-focused cryptocurrency designed to facilitate tipping and microtransactions across various social media platforms. The project aims to make digital payments seamless within social networks through its 'tip platform.'
Purpose and Utility
The intended purpose of ReddCoin is to serve as a digital currency for social media tipping and micropayments. It uses a Proof-of-Stake Velocity (PoSV) consensus mechanism, which encourages both ownership (staking) and activity (velocity).
Current State and Development
While the project remains active with occasional GitHub updates, its adoption for its intended social media tipping purpose has been limited. The development team maintains the core protocol, though updates are infrequent.
Token Distribution
ReddCoin has a relatively fair distribution model, with no pre-mine and no ICO. Tokens are generated through the PoSV staking mechanism, which is accessible to all token holders.
Revenue Model and Operations
The project's revenue model is based on transaction fees and does not involve interest-bearing mechanisms or prohibited activities. The staking rewards are tied to network security and participation rather than lending.
Crypto Impact
To assign a comfort level investing in ReddCoin from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to ReddCoin.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.