Reddcoin Details+Roadmap 2016-17






  • What is Reddcoin?


    Reddcoin is the social currency that enriches people’s social lives and makes digital currency easy for the general public. Reddcoin achieves this by integrating a digital currency platform seamlessly with all major social networks to make the process of sending and receiving money fun and rewarding for Everyone.



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    Features


    PoSV

    Redddcoin 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 eliminate wasteful consumption of electricity for mining.

    Learn More


    Tip Platform

    Reddcoin decentralized Tip Platform allows people to seamlessly send & receive digital currency on Social Networks to anyone in the world & to support content creators through micro-donations.

    Learn Mor

    Redd-ID

    Reddcoin Redd-ID is a unique service provided at the blockchain level which allows a user to associate a username with rich information including public keys and social network identities.

    Learn More

    ReddWallet

    Reddcoin ReddWallet is a State-of-the-art wallet that provides various social features to increase engagement among users which improves security of the decentralized network.

    Learn More


    Specifications


    Algorithm: Proof-of-Stake-Velocity

    Total Supply: ~27 billion RDD at the end of PoW

    Interest rate: 5% inflation yearly

    Block Time: 60 Seconds

    Currency Code: RDD

    Currency Symbol: Ɍ


    Wallets:


    Windows 32

    Windows 64

    Mac

    Linux

    Source Code

    Block Explorer

    Tipping Reddcoin


    Reddcoin Tip Platform

    Twitter Tip Bot

    Reddit Tip Bot

    Twitch.tv Tip Bot

    Reddit Gold Bot

    Exchanges


    Poloniex.com (BTC)

    Bittrex.com (BTC)

    BleuTrade.com (BTC)

    Gobiw.com (CNY)

    Btc023.com (CNY)

    WeSellCrypto.com (Paypal)

    https://www.cryptopia.co.nz/Exchange?market=RDD_BT...

    https://yobit.net/en/trade/RDD/BTC


    More resources

    Block Explorer
    PoSV earnings Calculator
    Reddcoin FAQs
    PoSV FAQs
    Wiki

    Brand Assets













  • Executive Summary

    During the summer of 2016, Reddcoin saw a major update to the network through the release of the v2.0 Core wallet. Features included in the release pave the way for Reddcoin to be made more accessible and to encourage widespread adoption.

    V2.0 also introduces several security fixes, notably the enforcing of strict DER signatures and validation rules (Bitcoin Improvement Proposal – BIP66). The code base has moved from Litecoin, with Reddcoin becoming a fork of Bitcoin, based on the v0.9 branch. This grants Reddcoin direct access to upstream features and fixes coming from Bitcoin development.

    With this major work now complete and adoption of v2.0 steadily increasing, the attention of the Reddcoin team now turns to the road ahead. Beyond developing a blockchain, the team is planning a broad ecosystem of applications that will realise the vision of Reddcoin – the Social Currency.

    This document presents the 2016-2017 roadmap detailing Reddcoin development goals and objectives over the next 18 months. The outline of core objectives are made along a timeline with milestones to measure and validate healthy progress.

    Reddcoin Status Report

    Over the past year there has been significant work done at the Core wallet level to provide a stable blockchain ready to support various applications and features as development continues. Upgrades include a rebase from Bitcoin Core, the inclusion of strict DER signatures to further secure transactions and close possible attack vectors (BIP66), the ability to store data on the blockchain through OP_RETURN with a 80-byte limit, as well as numerous security upgrades and bug fixes taken from Bitcoin Core.

    Over the past 18 months, additional infrastructure has also been implemented and planned (new DNSSeed node, new Electrum server nodes, implementation of testnet network). As features continue to be added further extensions of infrastructure will be required. While the core team will provide some of this infrastructure, the broader community will also be encouraged to become involved. The core team will be available at all times to provide guidance if requested.

    The Reddcoin team maintains a strong proactive attitude. Contact is being made and maintained with third-party teams who are planning or who have already implemented various services for Reddcoin. For the long-term viability of the project, it is essential to engage with other groups who have taken or who will take the time to support Reddcoin in their endeavours.

    The Reddcoin team has been engaging with the broader community and working with local groups in non-English speaking locations to establish local (non-English) information portals. Recently both the Chinese and Italian Reddcoin communities have launched websites, forums and blogs.

    The next priorities aim to expand the functionality of Reddcoin while maintaining the integrity of the Core software and blockchain. The team will continue to forge relationships with the broader community as it identifies possible collaborative exercises. Regular updates will be made by the team to keep the community informed about ongoing development.

    The focus is on building an ecosystem that reaches beyond the blockchain. One that allows Reddcoin to operate on a flexible platform which the average person is able to use to earn support and to show appreciation. As it builds Reddcoin into a resource through which to express appreciation the Reddcoin team is working to make adoption easy for the broader community and the average social network user.

    Reddcoin Fund Raising

    Maintaining and developing Reddcoin as a global digital currency incurs various regular and one-off expenses.

    The Reddcoin team now accepts donations from the community to help cover the ongoing cost of hosting servers, operational expenses, advertising, developer support and special promotions. Reddcoin donations received are hosted at the following addresses, which are also enabled for staking.

    Community support of Reddcoin via donations is appreciated and useful.

    Purpose

    Address

    Development Fund

    RaWe7UEQ1p2PYmdwbCxAThrq4GucNh3Q6s

    Administration Fund

    RfmC2s2zUwkWT6cZNQiKQ6VN5xYVS3jE3V

    Operations Fund

    RwjWKJMY6NNehGWvWRQqmUw7HTriD2GDEB

    Reddcoin Project Roadmap

    Infographic overview

    To summarize the goals ahead and to communicate to the broader community the Reddcoin team has created the following infographic. This infographic will be used to communicate on Reddcoin websites and social media platforms. It provides a high-level introduction to the project goals over the next 18 months. The infographic also provides insight into the ecosystem that is being designed and built, along with approximate timelines for implementation.





    As the exciting and inspiring steps along the roadmap are undertaken and completed, this will create a unique opportunity for the Reddcoin team to build an highly-integrated system that will make cryptocurrency easy and rewarding to use.

    Detailed Overview

    Reddcoin Project Roadmap

    4th Qtr 2016

    Redd-ID(Blockchain-based distributed naming service)

    • Redd-ID is a blockchain-based naming service.
    • The service provides users the ability to create and own multiple user IDs (e.g. social, work or community).
    • Each created ID is verified on the blockchain and linked to a Reddcoin address.
    • The Redd-ID can be used for sending and receiving Reddcoin to common names (Address-book).
    • User Redd-IDs are public and searchable.
    • A Redd-ID can include as much or as little profile information as the owner sees necessary (contact details, avatars, etc).
    • User profile details can be made public or private.
    • Within each user profile is the ability to link multiple social network identities (e.g. Facebook, Twitter, etc.).
    • Each social network identity can also have a separately assigned and individual Reddcoin address.
    • There is a cost for registering each Redd-ID.
    • The cost of registering is determined by a number of factors such as the length, mixture of characters, vowels, etc. (e.g. john.id > johnadam.id > john0001.id.)
    • Due to popularity, the cost of registering some short names (Joe, Tom, etc.) will be 6 figures or more (at current exchange rates).
    • Redd-IDs are verified in PoSV blocks, with active Reddcoin stakers supporting the registration service.
    • The majority of the registration fee paid for a Redd-ID goes to the wallet-holder who stakes and fully verifies the transaction.
    • A small percentage of the registration fee goes to the network (the Electrum server operator) to support infrastructure.
    • Redd-IDs may be transferred between users (creating a potential marketplace).
    • Redd-IDs will have an expiration date and require renewal (terms between 1 and 5 years with discounting).

    ElectrumServers(SPV servers)

    • Essential to bootstrapping the Redd-ID ecosystem will be the revival of Reddcoin Electrum servers.
    • The servers provide the initial interface to the Redd-ID system for registration and maintenance.
    • The Electrum protocol is extended to support Redd-ID operations and to enable interaction between clients and the blockchain.
    • Network participants are encouraged to run Electrum servers to receive a percentage of registration fees as network operators’ fees (service fees).
    • Electrum Server operators set their own service fee percentage.
    • The fee structure is advertised to users when they register their Redd-ID and they can choose their prefered server to connect with.

    1st Qtr 2017

    Electrum Client(SPV wallet providing instant startup)

    • The Reddcoin Electrum Client provides the interface for Reddcoin users.
    • Reddcoin Electrum is a lightweight client with fast start times.
    • Operation requires a much smaller blockchain download (block headers only: 110MB vs 1.8GB full chain).
    • As of the publication date of the Reddcoin 2016-2017 roadmap, the Electrum Client is already updated to support BIP66 transactions (low_S signature).
    • Electrum wallets are easier to backup and maintain, with addresses being generated / restored from a seed phrase.
    • The client is available on
      • Desktop (Linux, Windows, OSx)
      • Android
      • iOS (availability depends on the evolution of Apple’s policy on supported cryptocurrencies)
    • The Electrum Client supports natively the registration and maintenance of Redd-IDs and full user profile metadata management.
    • Plugin architecture is included to allow the extension of additional features
      • Users can opt in/out of features (enable / disable plugin).
      • Additional plugins extend the functionality of the wallet
        • Tip notifications
        • Tip feed
        • Built in RDD exchange rates
        • As of roadmap publication discussions are underway with some exchanges for built-in currency conversion
        • Other possibilities include social chat/IRC/news feeds
    • The Electrum wallet becomes the social wallet.





    2nd Qtr 2017

    Browser Wallet(Decentralised tipping)

    • Tipping wallets are no longer stored on discrete servers.
    • The existing tip bots (Reddit / Facebook/ Twitch) are reworked to become decentralised entities.
    • Tips are deposited and spent directly from a user’s wallet with private keys under the control of the user.
    • Inclusion of many popular social platforms (Facebook, Youtube, Twitch, Twitter and others) via browser plugin architecture acting as a bridge.
    • The Browser Wallet supports the extended Electrum protocol.
    • The wallet allows in-browser registration of Redd-IDs.
    • Micro-subscriptions
      • Scheduled or time-based transactions to websites and users to support good content.
    • Chrome is first on the list to support, followed by Firefox and Safari.




    3rd Qtr 2017

    Social Broadcast(Service to encourage social and micro-donations)

    • Reddcoin Social Broadcast encourages positive social exchange and interaction, and rewarding / donations.
    • Social Broadcast links users to content creators.
    • The service generates metrics on popularity,interaction, etc.
    • URLs and postings that attract positive tipping behaviour are ranked and highlighted.
    • Activity is broadcast and users can subscribe.
    • Specific users or content can be followed.

    Redd-ID API(Blockchain data interface)

    • An API for third-party integration with Redd-ID.
    • Allows remote registration from third-party services
    • Perform blockchain data queries and look-ups.

    4th Qtr 2017

    PoSV 2.0(Proof of Stake Velocity v2 improvements)

    • Continued investigation of PoS algorithms in the context of further upgrades (security, performance, etc.) to PoSV.
    • Improving the current PoSV algorithm to strengthen the existing PoS reward scheme.
    • Extending the algorithm to encourage more active staking nodes.
    • Modifying the existing algorithm to reward active stakers with interest based on the total money supply (staking + non-staking). For example if only 50% of the available Reddcoin are staked, those Reddcoins generate 2 x interest, i.e. 10-12%. This is implemented in the full-node Qt wallet first.

    Electrum Staking(Extended staking ability)

    • To benefit smaller coin holders who find downloading the entire blockchain a burden, the implementation of staking in Electrum.
    • Staking enabled in each of the Electrum clients (Windows, OSx, Linux, Android) .






  • Reddcoin identity system Redd-ID coming soon


    Following the publication of the Reddcoin Roadmap on 30 September 2016, work continues on the next milestone: Redd-ID.

    Forming the backbone of a blockchain-based identity-management system, Redd-ID is a fundamental concept to the social currency. While some projects focus on rendering users completely anonymous, and others emphasise trustlessness, Reddcoin wants to bring people together and encourage social interaction.

    Redd-ID will bring users closer via multiple social networks and websites, with a system not limited to any one platform. To facilitate the adoption of Redd-ID users will not be required to change any of their online activities or congregate anywhere outside their favourite social networks – the Reddcoin identity system integrates seamlessly across these networks.

    Redd-ID is scheduled for release at the end of 2016.

    From the 2016-2017 Reddcoin roadmap:

    • Redd-ID is a blockchain-based naming service.
    • The service provides users the ability to create and own multiple user IDs (e.g. social, work or community).
    • Each created ID is verified on the blockchain and linked to a Reddcoin address.
    • The Redd-ID can be used for sending and receiving Reddcoin to common names (Address-book).
    • User Redd-IDs are public and searchable.
    • A Redd-ID can include as much or as little profile information as the owner sees necessary (contact details, avatars, etc).
    • User profile details can be made public or private.
    • Within each user profile is the ability to link multiple social network identities (e.g. Facebook, Twitter, etc.).
    • Each social network identity can also have a separately assigned and individual Reddcoin address.
    • There is a cost for registering each Redd-ID.
    • The cost of registering is determined by a number of factors such as the length, mixture of characters, vowels, etc. (e.g. john.id > johnadam.id > john0001.id.)
    • Due to popularity, the cost of registering some short names (Joe, Tom, etc.) will be 6 figures or more (at current exchange rates).
    • Redd-IDs are verified in PoSV blocks, with active Reddcoin stakers supporting the registration service.
    • The majority of the registration fee paid for a Redd-ID goes to the wallet-holder who stakes and fully verifies the transaction.
    • A small percentage of the registration fee goes to the network (the Electrum server operator) to support infrastructure.
    • Redd-IDs may be transferred between users (creating a potential marketplace).
    • Redd-IDs will have an expiration date and require renewal (terms between 1 and 5 years with discounting).


  • Reddcoin Bi-Weekly Development Update:


    Welcome again Reddheads to the bi-weekly update of Reddcoin Development.

    It has been pretty busy over the last couple of weeks since the Reddcoin Roadmap was released and the feedback has been awesome.

    The roadmap now gives Reddcoin a clear direction for the growth and adoption by the broader community and from the feedback I have received already there is quite some excitement.

    In the last few weeks I have had a number of interviews regarding Reddcoin. If you haven’t read yet, you may find interesting:

    Reddheads (Sept 5)

    Gsteele (Sept 28)

    Bitcoin Dood ( Oct 10)

    Reddcoin 2016-2017 Roadmap:

    The Reddcoin Roadmap is already out.

    With that, work has continued to meet with the schedule.

    Although the time-line for the roadmap is linear, a lot of the work occurring is actually overlapping as we start to bring some of the new features.

    Already we have started connecting in the Redd-ID system into Electrum server, with all initial testing successful. I am really excited for what flexibility this will bring.

    Development

    Our focus is on providing updates as close to the timeline sequence as possible.

    The current status of development is:

    • Redd-ID: Big advancements have been made already in integration work into the electrum protocol. We now have a working base in which to add the required parameters
    • Electrum Server: Adding the foundation for layering in Redd-ID to the Electrum protocol. My development Electrum server is running this new code.
    • Electrum Wallet: Have already created an exchange plug-in for several exchanges, and working on the Redd-ID components. Also working to bring the code base.
    • Redd-ID information portal: Building a Redd-ID specific website to help educate the general public about the benefits of Reddcoin.
    • Reddcoin Dash-board: There are a few sites already for Reddcoin blockchain information, but I feel one more is needed that works closer to the changes that are being worked on.

    Bitcointalk Reddcoin ANN Thread

    This has been on the Reddcoin team radar for quite a while now, We have been investigating either relaunching a new thread, or re-enabling the existing BitcoinTalk Reddcoin ANN thread.

    Both options are available but either way, there is a bit of work to do to craft the Original Post with up to date information that reflects the current status of work and goals, along with the roadmap.

    This is an exciting moment, as we have not had a very strong presence on BitcoinTalk for almost 2 years. It will be good to establish this line of communication once again with the community.

    Getting involved

    We are a global community, and cross many borders but boundaries do not need to hinder us.

    The crypto currency world has not reached its tipping point yet, but when it does, it is sure to escalate at an amazing rate. There are going to be many ups and downs, and an interesting ride for sure.

    If you would like to get involved and dont know where to start, reach out and we will see where you can jump in @Deadpool has a great Trello site going with activities that need looking at.


    In Closing

    Thank you for your patience.
    I know in this arena things projects move fast, but I am confident that we now have a platform to move forward.
    There are lots of exciting projects out there, but none quite touch on the ideas I have in mind.

    As always, there is still plenty to do, and there is no time for resting.

    So where ever you are, enjoy your week ahead

    Keep on staking!

    Gnasher
    (John Nash)



  • Reddcoin Bi-Weekly Development Update




    Welcome again Reddheads to the bi-weekly update of Reddcoin Development.

    This week I am going to cover off where we are up to on Reddcoin development.

    The efforts are now being placed on a range of fronts in a multi pronged approach, covering a number of aspects of the Project. All the while the main focus is on delivering the project in the order laid out in the published roadmap

    ReddID Development

    As you may well be aware, we have a very ambitious Reddcoin Roadmap that covers a lot of bases. The main priority is to complete the ReddID system and get it into a state that can start being used by the general public.

    You may not be aware, but ReddID has been worked on over the last 12 months while development was also being done on Core and a few of our other projects.

    In its current form, ReddID is operating on testnet whilst development work continues, but it is expected to switch over to the mainnet soon. Overall it is progressing very well, and at the current rate of development believe that we will hit our target deploy dates.

    In the spirit of trying to make the interface into ReddID as simple and attractive as possible, we are working on providing a simple API and GUI to help kick start the registration process. This will also extended to allow for 3rd party integrations.

    As per our timeline (early next year), the registration process will also integrate directly into the wallets.

    Reddcoin Electrum Server and Clients

    Reddcoin Electrum Client

    Over the last couple of weeks, have been working on getting the Reddcoin Electrum client operational again.

    A number of things needed to be addressed in the client, and to also resolve several issues regarding compiling to a self contained Windows executable (Did you know that the electrum wallet is actually written in Python).

    The original Electrum Windows client(v1.0.4), had a number of items that were broken, which did not do the wallet justice operationally. Things like the plugin component are now working and we have the capability of displaying exchange rates (from a number of exchanges) within the client GUI. The new version also implements BIP44registered coin types.

    BIP44 allows for the master node (seed) to be used for any number of independent cryptocoin. Although we dont have an immediate need for this, it future proofs our design. Reddcoin is registered in the SLIP-0044 document (index 4). We were very early adopters.

    There are still a number of steps to be completed before having Reddcoin Electrum up to date with the current Bitcoin version, but there is now a firm foundation on this client development and in its present form could be used as is.

    The updated client (v2.0.0) is almost ready for deployment as a release candidate (RC). Let me know if you are interested in testing and providing feedback.

    Electrum client with exchange rates embedded



    Reddcoin Electrum Server

    The Reddcoin Electrum server code has also been brought up to date with the current Bitcoin release.

    As a part of the testing of the client, the server can also be provided if you are interested in running a node. This is a voluntary operation, but I have some long term goals to make this a viable and cost effective activity for those of you who are technically motivated.

    The Reddcoin Electrum server, along with the Electrum protocol will provide the main portal for ReddID registration and management. An advantage of this approach is that it can then be used by other third part wallet services (eg like Coinomi) if they desire.

    Bootstrapping ReddID

    For the launch of ReddID, we are giving consideration to the various options as to how this will transpire.

    As has been mentioned in previous posts, the act of registering an ID will have an associated cost (in RDD). This serves several purposes

    1. Imposing an ongoing cost on registration will help deter ID campers/squatters, particularly those who want to sweep up a number of ID’s in the early days
    2. The amount paid for an ID is returned back to the network as an additional reward for staking. The fee collected will allow users who are staking to receive a bonus reward.
    3. Unpaid or expired ID’s will return to the network and can then be claimed by a new user

    To share some of the ideas, we are considering to help kick start the registration:

    1. The first operation of ReddID will be the registration of a NAMESPACE. The reward for generating and staking that block will be a substantial amount of Reddcoin (expect > 5MM RDD).
    2. The time period for generating that NAMESPACE id will be a random block within the next 3 months.
    3. Invite and provide the first year of registration free for a ReddID.
    4. Ongoing promotion and advertisent on our various social media accounts

    And as potential users of this system, interested in your feedback and what you feel is both fair and reasonable.

    BIP66 progress

    As a timely reminder for you: If you are presently staking, and you are operating an old client (1.4.1 or lower), once the network reaches 85% your blocks will not be valid and you will lose your stake reward.
    Download the latest V2 wallet here

    The current status is:

    1. v2.0 wallet is now at 68% and now the majority client according to bitinfocharts
    2. v4 blocks are averaging 75% (BIP66 activation)

    Reddcoin 2016-2017 Roadmap:

    The Reddcoin Roadmap has been release now for a month already.

    With that, we have been pushing forward with the schedule, and if the above work is any testimony we are looking good to meet with the schedule.

    Although the time-line for the roadmap is linear, a lot of the work occurring is actually overlapping as we start to bring some of the new features.

    Bitcointalk Reddcoin ANN Thread

    This has been on the Reddcoin team radar for quite a while now, We have been investigating either relaunching a new thread, or re-enabling the existing BitcoinTalk Reddcoin ANN thread.

    Both options are available but either way, there is a bit of work to do to craft the Original Post with up to date information that reflects the current status of work and goals, along with the roadmap.

    This is an exciting moment, as we have not had a very strong presence on BitcoinTalk for almost 2 years. It will be good to establish this line of communication once again with the community.

    Getting involved

    We are a global community, and cross many borders but boundaries do not need to hinder us.

    The crypto currency world has not reached its tipping point yet, but when it does, it is sure to escalate at an amazing rate. There are going to be many ups and downs, and an interesting ride for sure.

    If you would like to get involved and dont know where to start, reach out and we will see where you can jump in @Deadpool has a great Trello site going with activities that need looking at.


    In Closing

    Thank you for your patience.
    I know in this arena things projects move fast, but I am confident that we now have a platform to move forward.
    There are lots of exciting projects out there, but none quite touch on the ideas I have in mind.

    As always, there is still plenty to do, and there is no time for resting.

    So where ever you are, enjoy your week ahead

    Keep on staking!

    Gnasher
    (John Nash)











  • New Coin and Exchange Review support for Reddcoin by voting

    A new multicurency and exchange site is being developed at https://revex.co/
    They claim
    "We are two friends developing a website with a purpose of providing a place for unbiased user reviewing and commenting on cryptocurrencies and crypto exchanges."

    Vote for your exchanges and Crypto.

    Hope you can show a bit of support for Reddcoin by voting