In a Nutshell: Reddcoin is the web’s original social tipping cryptocurrency. Using the project’s Redd-ID browser extension and the Reddcoin wallet, users can tip their favorite content creators on just about any social media or posting platform. Tips and other transactions process immediately and require no fees.
Most social media platforms have the same business model, and it may not be what you expect. While users are busy sharing pictures of their meals, vacations, and friends and family, most social media platforms are busy collecting the information its users provide and selling it to advertisers and other companies that profit from that info.
Data is the new oil: a commodity that’s only as finite as we allow it to be. But how do you benefit when someone else is profiting from your data and content?
That’s the question Reddcoin’s founders asked when developing the first social cryptocurrency in 2014. Following years of leadership changes and an explosion in social media usage, the solution Reddcoin created has even more potential value today than when it was first announced.
Reddcoin is a social network tipping, content creator, and microdonation cryptocurrency. If readers enjoy someone’s post, they can skip the “like” button and instead tip the writer any amount of Reddcoin.
The coin also works as a donation mechanism, with users leveraging their accounts to raise money to pay for an emergency or other need.
Since Facebook, Twitter, YouTube, and other popular platforms don’t yet provide an option for tipping users, Reddcoin holders can use the Redd-ID browser extension to register a unique ID/username that connects to a Reddcoin address.
With the Redd-ID browser extension, a user can validate someone’s Tweet or use the Reddcoin in their wallet to tip the content’s creator. Some Reddit articles already include a tip button to send money to the author or contributor.
“You can use it in any way that you like,” said Jay Laurence, Project Leader at Reddcoin. “There’s no limit in the amount or value of the coin that you can send.”