Reddcoin is the social currency that makes digital currency easy for the general public. It achieves this by integrating a digital currency platform seamlessly with all major social networks to make the process of sending and receiving money rewarding for everyone.
Proof of Stake Velocity
Reddcoin Proof of Stake Velocity is an innovative algorithm that encourages both ownership (Stake) and activity (Velocity). PoSV solves issues in traditional PoW & PoS algorithms and eliminates wasteful consumption of electricity for mining.
This algorithm encourages ownership and activity by giving Staking Rewards.
The more coins the wallet contains and the more the wallet is open for staking (thus longer online; it strengthens the Reddcoin network that way), the higher is the chance to get a staking reward. Every minute a reward is given to exactly one wallet which is staking at that moment.
That is from a theoretical point of view. In practice this means all transactions have a 5% reward when staking for 365 days. This staking calculator can give a more personalized estimation.