1 Level
40 Review
24 Karma
Review on ReddCoin by Aniruddh Ravel
Reddcoin review
The traditional blockchain assets have a lot of issues, including scalability, portability and backup. Current cryptocurrency wallets work on anonymously generated private keys, and every time the wallet needs a back up. If the back-up doesn’t happen properly or the user somehow loses the private key, the amount becomes impossible to recover. Since private keys are randomly generated, it becomes impossible for the users to share their own wallet in multiple devices or platforms. Every wallet will require independent management, which leads to time consumption, operational risk and burden.
Reddcoin Reddit boasts about the upcoming challenges that it aims to face, and the developments in process. The highest anticipation among the Reddcoin community is for the innovations in the future of wallets, known as ReddWallet. It will not only completely transform the traditional QT wallet, but will also have an in-built chat system. Where the users can look up for Reddcoin social media features, like Twitter, Instagram etc.
Pros
- Reddcoin gives users a unique identity system under Redd-ID, that syncs up their social media accounts with their Reddcoin account. They also provide complete security to the users to store their public information at blockchain level.
- Reddcoin has a decentralized tip platform that allows the investors to send money over social network to anyone in the world. This feature allows it to become one of the most advance and innovative platforms among all other cryptocurrencies.
Cons
- Reddcoin is not listed on any reputed exchange
- Reddcoin don't have great reputation in market
