Reddcoin (RDD):The past week has been highlighted by the reports of a postponement of the Bitcoin ETF’s to 30th September 2018. This in itself has been seen as the major factor contributing to the sharp fall in cryptocurrency prices in the last 7 days. As the market falls however, it’s key to focus on the overall development in the field as opposed to the price alone.
One of the coin that keeps making massive steps towards development and integration is Reddcoin (RDD). The most recent ‘ReddID Social Tipping Extension and Platform’ update is a clear example of the team focusing on development as opposed to market factors that can somewhat not be controlled.
The world is increasingly getting glued to their smart devices, whether smartphones or computers. According to a research carried out by Socialmediatoday.com, an average person spends close to 2 hours a day on social media platforms. This translates to over 5 years during a normal person lifetime which in itself is a scary stat. As more and more social media apps develop and smartphones are distributed all over the world, these numbers are set to increase substantially.
Reddcoin aims to leverage the increasing presence on social media by tipping you to post, vote and share creative and original content on your social media platform. How cool would it be to post, like and share content on Facebook, YouTube, Instagram, Twitter or any other social site and get paid?
In its quest to global adoption, Reddcoin has to rely on one blockchain, Basic Attention Token (BAT). However, the world of blockchain and cryptocurrencies has continuously shown the inability to hold two giants in the same sector, will this be a similar case on Reddcoin? Or can the two work together to monetize our daily use of social media?
Reddcoin and Basic Attention Token
It is deeply known one of the largest revenue streams on social media platforms lies in advertisements. However, one of the biggest problems on social media users is advertisements too. Who wants a pop up or an ad of an uncorrelated subject while enjoying social media? This problem has been solved by BAT and the Brave browser which allows users to opt-in and opt-out of advertisements.
Basic Attention Token wallets are supported by the Brave browser. Users will be able to manually link their social media accounts from the browser settings to their in-browser BAT wallets and both tip and accept tips from other users. Sounds similar to what RDD is used for but the major difference lies in who and how the tips are sent out. BAT rewards users for accepting and viewing ads while RDD rewards the content creators on these social sites.
Can a Reddcoin/ Brave browser partnership work?
Currently, BAT has had more attention and adoption due to the Brave browser which is widely used. However, the advantage of Reddcoin connecting and tipping across all your social platforms, is something Brave will want to pick up in the long term. Reddcoin also announced back in April of its plans to introduce the Investa crypto debit cards which would be a benefit to BAT transactions.
As the two cryptocurrencies continue to bulldoze their way to the top of social media and advertising, a partnership of some sort will springboard their ambitions even further.