THELOGICALINDIAN - Reddcoin unveils new Enhanced Proof of Stake Velocity Protocol
In an accomplishment to addition arrangement advance and stability, Reddcoin appear the rollout of a New Enhanced Proof of Stake Velocity Protocol, or Enhanced PoSV v2.
The latest afterlight of the agreement is set to go alive in backward October at block three actor of the RDD blockchain. It is advised to accommodate added arrangement advance stability, adequate staking incentives, allotment abutment for development teams, and aegis of user funds from accident and theft.
Reddheads Have More Fun
In an accomplishment to accomplish cryptocurrency added accessible, the Litecoin-forked Reddcoin has managed to advance a committed fanbase of “ReddHeads,” who use the cryptocurrency for angled creators of amusing media and online agreeable as able-bodied as for online micro-donations.
The blockchain harnesses a “bespoke algorithm,” which gives users a bristles percent anniversary accolade for captivation the crypto and removes the charge for high-energy burning through its staking mechanism, alms “a added environmentally acquainted option” for its operation.
Jay “TechAdept” Laurence, CEO/COO of Reddcoin Solutions, LLC, and cardinal activity facilitator at Reddcoin (RDD), describes the attempt of faith, hope, and charity aloft which Reddcoin was built, analogue in detail on Medium.
The commodity explains what the angle agency in accepted and elaborates aloft the aesthetics abaft the project’s latest innovations. He explains that Reddcoin is aiming to advance the beyond association by example: “The accessible PoSV v2 angle is meant to actualize these three amount attempt in a accurate way, confined as an archetype to added projects to drive all-embracing crypto adoption.”
Better Redd Than… Ummm…. Not Redd?
Laurence insists crypto isn’t aloof about technology or money, answer that it offers users abundant more. “Reddcoin aims to authority users’ hands, acceptable them to the new angle of agenda currency, and abutment and assure them on their campaign throughout the ecosystem.”
The PoSV v2 algorithm provides users with staking wallets, which abetment in accouterment arrangement aegis and blockchain accord after the charge for big-ticket and power-hungry ASICs. The Reddcoin staking band-aid requires basal resources, active on a basal desktop, laptop, mobile, Raspberry Pi, or added agnate low-end and embeddable devices.
To get added users on-board, the agreement advancement will addition staking rewards “beyond its present 5 percent reward,” although specific accolade abstracts were not provided.
Another abuse of the new agreement is the appellation of a allotment of funds to the “Reddcoin Restitution and Recovery Fund.” Laurence explains this apparatus is advised to assure users from absent or baseborn bill and besmirched wallets, as able-bodied as potentially actuality acclimated to advice others in 18-carat crisis, who may be “made accomplished afresh by the adroitness of the arrangement itself.”
The money will be set abreast with the aim of accouterment users with a “newfound faculty of aegis with the arrangement while advancement a decentralized platform.”
John “CryptoGnasher” Nash, advance developer at Reddcoin, shares his thoughts on the newest revision, which foregoes the amalgam disinterestedness / adventure basic adjustment of acceptable funding: “In accurate crypto-pioneering spirit, the teams like ours abaft these projects are all-embracing the congenital incentivization of decentralization to drive development and engagement.”
Markets appeared awestruck with the news, demonstrating a bashful ascend of about 5% in USD amount and a nice accretion adjoin BTC that followed forth with abundant of the beyond altcoin market.
Reddcoin offers the avant-garde Redd ID, a convenient agenda wallet that uses a simple called username log-in in lieu of a complicated 16-character alphanumeric code. Existing Reddcoin wallet users and exchanges will charge to advancement to adaptation 2.1 of the wallet software afore the appointed block activation of the new fork.
Users can analysis out added capacity about the amend here or appointment www.reddcoin.com.
