ReddCoin and Project Redd are interconnected entities, with ReddCoin being the cryptocurrency and Project Redd being the social movement associated with it. Here are the aspects, similarities, and differences between the two:
Purpose and Mission:
ReddCoin: ReddCoin aims to turn social media likes and hearts into real spendable money, providing value to contributions on the web without middlemen and fees. It focuses on creating a social currency that promotes sharing, generosity, and community engagement.
Project Redd: Project Redd is the social movement that revolves around the values and principles of ReddCoin. It aims to foster a community of ReddHeads who share a long-term mission of being friendly, helpful, generous, caring, and rational. The movement encourages individuals to share love, support, and positivity.
Assets:
ReddCoin: The three most important assets in the ReddCoin ecosystem are brand, community, and infrastructure. The developers have created a professional, friendly, and consistent brand. The community consists of ReddHeads who share the same values and mission. The infrastructure is designed to provide a uniform, simple, and secure user experience.
Project Redd: The main asset of Project Redd is its community of ReddHeads who actively participate in spreading the movement’s message and values.
Distribution and Stakeholders:
ReddCoin: ReddCoin has been distributed to a large and diverse user base through various channels, including an Initial Public Coin Offering (IPCO), mining, trading on exchanges, community promotion events, giveaways, and user tipping on social networks. The stakeholders of ReddCoin include people from hundreds of countries with diverse backgrounds, ages, and interests.
Project Redd: The stakeholders of Project Redd are the ReddHeads who actively engage in the social movement and support its mission.
Transition and Upgrades:
ReddCoin: ReddCoin transitioned from Proof-of-Work (PoW) to Proof-of-Stake-Velocity (PoSV) in 2014. The PoSV protocol provides staking rewards for holding and cherishing RDD, along with a social contract to support and sustain the ReddHeads community.
Project Redd: Project Redd supported the transition to PoSV v2, which further enhanced the technical mechanism of staking rewards and reinforced the social contract within the Redd community.
Focus and Impact:
ReddCoin: The primary focus of ReddCoin is to create a social currency that facilitates sharing, generosity, and community engagement. It aims to provide a simple and secure user experience for its users.
Project Redd: The focus of Project Redd is to promote a social movement centered around love, support, and positivity. It encourages ReddHeads to make a positive impact on others’ lives and create a sense of community and belonging.
In summary, ReddCoin and Project Redd are interconnected entities, with ReddCoin being the cryptocurrency and Project Redd being the social movement associated with it. While ReddCoin focuses on creating a social currency and providing a user-friendly experience, Project Redd aims to foster a community of ReddHeads who share a mission of spreading love, support, and positivity. Both entities work together to promote the values and principles of sharing, generosity, and community engagement.
Sources:
ReddPaper (ReddCoin’s white paper): https://reddcoin.com/docs/Redd-Paper.pdf
ReddBook (Project Redd, the companion social movement): https://reddcoin.com/docs/Redd-Book.pdf
PoSVv2 (consensus & staking protocol) FAQ: https://redd.love/assets/doc/PoSV-v2-FAQ.pdf
https://reddcoin.com https://redd.love
