Reddcoin is a coin forked from Litecoin in 2014. It is an open source project maintained by 230 independent developers. Reddcoin uses Proof-of-Stake-Velocity (PoSV) consensus algorithm. It means nodes with higher ownership (stake) and activity (velocity) have better chance to find a new valid block.
The main purpose of Reddcoin was to substitute “Likes” of social networks with monetary tips. For this goal Reddcoin implementation is integrated with social networks and has to be simple to e. At the moment it is integrated with Twitter, Twitch, Reddit and Justin.TV. Another feature of the Reddcoin is simplicity of usage: all the blockchain implementation is hidden from ordinary user’s eyes, and the only thing needs to be done is to do “like” pictures, videos or comments with Reddcoin.
Usage at the moment: you can tip other people posts or pay for in-app purchases in Freemium games.
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