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Reddcoin is the social currency that enriches people’s social lives and makes digital currency easy for the general public.
Reddcoin achieves this by integrating a digital currency platform seamlessly with all major social networks to make the process of sending and receiving money fun and rewarding for everyone.
New Reddcoins are created by a decentralized process called “mining.” This process involves individuals who are rewarded by the Reddcoin network for their services and time. Reddcoin miners process transactions and secure the network by using specialized computers and are rewarded Reddcoins in return.
No central authority or organization has the power to control or manipulate the Reddcoin mining network to increase their profits. Reddcoins are created at a fixed rate, regardless if there are 100 miners or one million miners mining Reddcoin. This allows Reddcoins to be created at a fair & predictable rate.
- Algorithm: Scrypt
- Maximum Supply: 27 billion PoSV - 5% P/A
- Block Time: 60 Seconds
- Difficulty Retarget: Every block using Kimoto's gravity well.
- Block halving rate: 500,000 blocks
- 100,000 RDD per block
- RPC Port: 45443
- Launch Date: February 2, 2014