Reddcoin announced on 09 October the deployment of the latest version of its proof of stake velocity protocol.
Reddcoin started by informing about the host of benefits that the novel development provides. The social network cryptocurrency firm further added that it would continue to support its fan base popularly dubbed as ‘ReddHeads.’ Reddcoin clarified that the offer would foster newcomers to embrace cryptocurrencies more warmly while clearing their anxieties.
Jay Laurence, CEO/COO of Reddcoin Solutions cited –
“The upcoming PoSV v2 fork is meant to embody these three core principles in a concrete way, serving as an example to other projects to drive overall crypto adoption. Crypto isn’t just about technology, nor is it just about money. Reddcoin aims to hold users’ hands, welcome them to the new vista of digital currency, and support and protect them on their travels throughout the ecosystem.”
Reddcoin emphasized that its innovation helps avoid using expensive hardware such as an application-specific integrated circuit (ASIC). Reddcoin sustained by adding about the variety of hardware devices that its protocol is supported with. These include desktops, laptops, and even special-purpose devices. Reddcoin maintained that even though it received many offers from prospective stakeholders to monetize its user data, the firm remained resolute otherwise.
Reddcoin highlighted its growth facilitated by a team of self-driven developers. The crypto social network firm added a point of great insight explaining about its contingency fund. With the high prevalence of stolen or lost cryptocurrencies, users are worried about their digital coins. Reddcoin would put their tension at rest by allocating a portion of funds to this forum to meet unexpected expenditures.
Reddcoin summarized by sharing its key industry engagements and mentioning about its products. The Reddcoin virtual currency is a social network-oriented micro-donation digital coin. The line of products supported by Reddcoin blockchain includes the Reddcoin PointOfSale, Reddcoin Core Wallet and Redd ID. Reddcoin concluded by informing that users will have to update themselves to the latest wallet, complying with the newest protocol.