ReddCoin (RDD) Core Dev Update, May/June 2022 — Part I (of II)

General update from the Core team on all things Redd, part I.

Due to the amount of content, and a desire to keep our ReddHeads from falling asleep while reading, we’ve split this update into two separate Medium posts. Part I includes Products, partners, and more, the work on the ReddCoin Core Wallet, ReddMobile/ReddID status, new platforms, new capabilities for RDD as a coin, and our blockchain as a whole, expansion of the ReddCoin ecosystem to connect to other chains and blockchain offerings, and more! Part II will follow this week.

#PaintTheWorldRedd!

May/June Dev Update Contents:

Part I (this publication):

• Products & Software
• ReddCoin Ecosystem: NEW & ACTIVE PARTNERS
• ReddCoin Ecosystem: POSSIBLE PARTNERS — IN DISCUSSION/EXPLORATION PHASE
• Exchanges & Integrations

Part II (not yet published) :

• Redd Charity Efforts
• Redd Voting
• ReddCoin Team — Redd Core & ReddHead Community
• Strategic plans- Making ReddMobile/ReddID a reality
• Discussion of 2022 ReddMap (Updated Roadmap)

Products and Software

ReddShare — www.reddshare.com

We’ve had lots of questions about ReddShare in the last few months; what is it, or what happened to it, is it being worked on and improved, and why isn’t it being promoted?

ReddShare was and is a beautifully simple concept that was brought to life by a pair of external volunteer developers working within the ReddCoin Core team. Aimed at the creators in the music industry, and allowing RDD to bridge the gap between bands, fans and promoters, ReddShare.com was built to enable bands or other artists to post events, and fans or others to receive RDD directly for verified sharing of those events. “Earn more for doing more, or build a reputation and have others promote with you, building communities in music, band followings and ReddHeads alike.” Unfortunately with the abrupt withdrawal of the lead developer on ReddShare (and master of the Google technologies that powered it), the platform has been temporarily mothballed until we can find a suitably skilled volunteer dev in that regard to pick it up. Or until such a time as we can hire the same. The opportunity to be part of further executing a great idea is open to anyone with the desire to step up and be part of the team with the required skills. Join the Core dev team or work as a contributor by yourself; all devs are welcome to help make Redd better! In ReddShare’s case, bring some microservice and AWS skills, and let’s bring an awesome usecase demonstration back to our ecosystem!

ReddCore — ReddCoin Core Wallet 4.22 Beta

Located at https://github.com/reddcoin-project/reddcoin-0.22, we continue work isolating issues and testing the new 4.22 wallet code. (Testnet-only binaries are located at: https://download.reddcoin.com/bin/reddcoin-core-4.22.0/alpha/ )

We have published four recent in depth articles regarding the new wallet features and functions, primarily focused aroudn the set of technologies called “Taproot” which may be found here. The first two are rather technical, but the third should be readily understandable to most ReddHeads.

• ReddCoin (RDD) — Core Wallet 4.22 — Taproot: Efficiency, Security, Privacy
• ReddCoin Core 4.22 beta — What Is Taproot?
• ReddCoin (RDD) 4.22 Taproot: SegWit version 1 spending rules (BIP0341)
• ReddCoin (RDD) 4.22 Taproot: Validation of Taproot Scripts

As the images below attest, activity is proceeding on a daily basis with two key talented devs leading the way, CryptoGnasher and BarryStyle, incorporating fixes and solutions unique to ReddCoin, moving us forward to cool new features and enhanced security and performance in the Core wallet and RDD network…and even now being borrowed and incorporated by other cryptocurrency projects*.

(*To all crypto and blockchain devs, please remember the terms of your open source licensing and credit our ReddCoin team or devs by name when you borrow well-crafted code we’ve worked hard and put funds out for. Thanks!! :) )

At this time we expect to release 4.22.4 this week, including a number of fixes related to pre-SegWit address use restriction, new staking commands, one-click staking enable from the main screen (with underlying RPC adjustments), a new staking info tab, and a few more items.

While the software is clearly still in Alpha/Beta status, we expect that users may expect to begin to use the new wallets in approximately a month or so on mainnet. We’ll keep everyone posted as testing continues, or come help us Beta test.

Because usability and sync, performance, etc, are all remarkably enhanced in these versions, we’re pushing to get working, safe, secure, and documented code and binaries out to ReddHeads quickly, but with all the appropriate testing beforehand we can do. That’s critical to keeping the Redd network running smoothly during such upgrades, and we’ll be publishing some guides to the actual mainnet roll-out when we are prepared and the software is tested, as we want to make any transition as smooth as possible.

Coins in wallets being upgraded can’t be lost with a proper backup, but wallet details, databases, and other files will be adjusted in the new wallet launch process, and data changed by the new clients, so there will be a process to follow when the time comes. The new wallet support multiple walelts open at once, and mutli-wallet management and (shortly) staking and staking info across all wallets. The file structure has changed significantly in both storage and code, allowing us to move to a more modular and optimized codebase, also contributing to the new wallet’s speed and performance. As a benchmark, the testnet wallet syncs its 19 weeks of data in just about 20 minutes. Not bad.

For that reason, we’d ask again also, our Beta test group has been somewhat small, but we’d like to ramp that up and add folks who can just test the basic functionality and see what if anything breaks. It’s all part of evolving the wallet, and making ReddCoin better, and we all have a part to play in that. If you want to join in the fun (and maybe be a testRDD ‘millionaire’ with no value but all the happiness) just join our Discord and ask!

Community

ReddMobile/ReddID

ReddMobile status is a little disappointing.

Due to the limited actual coders we have on the team, and the dropping out of a few key member devs and parts of our process, advancing work on ReddMobile (our planned and partially designed/built keystone app containing both tipping and ReddID name registration technology) has essentially come to a bit of a pause while John, TechAdept, and others are focused on Core wallet development.

We have released an entirely functional basic mobile wallet with more than 1000 downloads, but the additional tipping and name capabilities unique to Redd have not yet been added.

We have lost our main mobile/Flutter dev and have essentially struggled to make progress we can further release. Although we have created a suitably detailed SDD (Software Design Doc), it is not yet functional in a way that can be released in app form, but can be shared with technical devs, and we have been looking for the required talent on a daily basis. Any ReddHeads want to step up and actually commit to completing tasks, we’d love to have you! :)

However, we have, during the course of that work in the limited way we’ve been able to advance it, arrived at solid and full documentation of the core requirements and pieces that have been built and tested to date, as we have discussed a different way of accomplishing the building, creation, support, and evolution of the complex piece of software we have envisioned.

Each of those phases (building, creation, support, and evolution) are critical to the success of ReddMobile as the mobile-format cornerstone of our tipping ability in the real world for the majority of users, and we have learned just how detailed and scalable and intersectional each part needs to be. Especially to adhere to advancing and evolving standards of decentralized networks being built even today.

While the underlying tech has evolved during this time, so have the options for how best to build, or even how to architect the solution as a whole, including the needed ideas of user-data protection, decentralization and control of one’s own keys, privacy and security, and all the other expected features of a modern and trustable app. We have assembled what pieces, components and code we’re able to, but it’s definitely not within the scope of our current skillset to easily achieve our goals. However, in acknowledging that, we’ve also talked through the problem and arrived at what should be a win/win solution to the struggle to build this thing.

As this is a complex discussion and will require engagement of the ReddHead community to see it through and collectively make it happen, we’ve moved full discussion of this situation and our team’s proposed solution to Part II of this Dev update.

(Part II will be linked when published later this week).

ReddCoin Ecosystem: NEW & ACTIVE PARTNERS

1. VEFramework

• VEFramework - VEFramework main page
• Industrial UseCases

ReddCoin (RDD) has been enabled across VEFramework’s libraries and is available for use in any of their systems and solutions. Amazing work by the team there!

1a. Open Digitalization (connected with above project as well)

Open Digitalization - Open Digitalization for Everyone

2. Dappsy.io

Crypto Social Network - Dappsy.io

2a. Yami.Network — A new social blockchain/token project, integrated with Dappsy

Yami Social Blockchain

3. SWFT.PRO beta crosschain aggregation

SWFT Blockchain

4. Amasa.io — Combining crypto micro income streams in a usable way. RDD will be integrated (as a native chain) as quickly as possible, although their initial focus is on Web3 and tokens. RDD, along with a few other coins will be included per discussions with their team.

• Amasa
• Micro Incomes & Investment Streaming

5. BlockTunesMusic

JavaScript is not available.

6. Nuvei Global Payments

Bitcoin, Dogecoin, and XRP accepted as payment by Scott Dunn - CoinCu News

ReddCoin Ecosystem: POSSIBLE PARTNERS — IN DISCUSSION/EXPLORATION/INSPIRATION PHASE

1. BlueSky Initiative

• Working In Public
• GitHub - bluesky-social/adx: Experiment in self-authenticating data structures for a federated social network
• adx/architecture.md at main · bluesky-social/adx
• A Self-Authenticating Social Protocol

The links above are inspirational in their concept and design and have contributed both ideas and insight to ReddCoin’s work.

2. UUNIGATE (An ESPERS project)

UUNIGATE | Fractal Platform Gateway

3. Nervos Network:

https://www.digitalwalletsnews.com/nervos-network-the-future-interoperable-sagacity-beyond-economy/

4. EdentifID — https://www.edentifid.com/ — NOTE: Interesting technology match, but philosophically distant in approaches. Partnering with this company may allow for expansion of their products into crypto space as well as opening doors for ReddID and RDD enhancements of existing tech stack and governemental, military and other application spaces for RDD.

Digital ID | EdentifID

AFFILIATED/TECHNOLOGY SHARE/CRYPTO PARTNERS & PROJECTS:

MOTACOIN — A Cannabis coin and part of the Redd family.

MotaCoin - Home

ESPERS — An original staking project boasting of recent cutting-edge work toward Onchain websites and fractal tech

Espers - Web3 Fractal Engine

POTCOIN — sharing quite a lot with Redd, including a team with real integrity, a long, long time in the space, continuously evolving, solid staking technology, a real use-case, and a fantastic community. And now an evolved token ready for DeFi, Point of sale and more. If it sounds like we’re hyping it, it’s only because POT has worked as hard as Redd has, and we’ve shared ups and downs for years. So, much #ReddLove. (And in the interests of full disclosure, the author holds a bit, stakes a bit [and smokes a bit] of POT. ;) )

• Our Story | Potcoin
• Potcoin | The Future of the Cannabis Industry
• PotCoin | CryptoSlate

BLACKCOIN — One of the staking pioneers and like Redd, a first generation altcoin.

Blackcoin

ALTCOIN RESERVE — By collective decision of all involved, this project has been semi-mothballed until adequate funds/staff are available to form a real team. Conceptually, we agreed it was an idea worth bringing to life. However, managing multiple such projects on a shoestring budget seems untenable.

Happily, however, aspects of the collaborative goal of the AR have in fact been implemented between teams included in the initial founding project list, and sharing of technology and expertise has actually been catalyzed in a fantastic way. The cryptocurrency envisioned to power the financial aspects of the AR project have been placed on hold due to the complexity and requirements of essentially spinning up another entire crypto project. We expect (collectively) to return to this effort in the future when some of the projects are able to underwrite the operations and staffing of this effort.

EXCHANGES & LISTINGS:

While we have no completed or in-place exchange listings to report since the last Dev Update, we’ve continued to do ongoing outreach, communication, and application. Some conversations are covered by NDA (or otherwise asked not to reveal to avoid manipulation), but we have applied to as many platforms as possible, and continue to, in efforts to broaden our on- and off-ramps from RDD to and from fiat currency, and to enable the easiest possible access for users to obtain RDD.

In recent months, we’ve applied or reapplied to altmarkets.io, CoinRabbit, crypto.com, MEXC, and more, including making arrangements for inclusion in Komodo’s AtomicDEX with our new wallet upgrade, but large listings are either cost-prohibitive at this time, or otherwise difficult. We would love to put together a ReddHead community group to address this need in an ongoing capacity, as that might be a good way to continue scouring the emerging cryptosphere for new and probable exchanges and integrations for RDD. It’d be great if ReddHeads united not only for such actions, but also for actual social engagement and promotion of our coin. Something to think about, hopefully, and something we’d love to talk about.

https://www.coinbase.com/how-to-buy/redd

We’re quite aware as a team that the current limited number of exchanges and access to RDD is still an unsatisfactory situation, as RDD is not nearly as easy as it should be to obtain. That’s critical to our ecosystem’s growth, and even for the use of our upcoming apps. Our work in that direction continues, but is limited by hours available and a need for a bit of business expertise. We heartily encourage anyone who wants to help communicate with exchanges as part of the team to raise your hand and jump aboard; we have an awesome project to promote, and the number of exchanges available simply continues to grow. Shouldn't we be available to buy and sell RDD globally and easily?

Let’s make that happen, ReddHeads. Only as a community working together can we succeed; come work with the Core team today!

Continued in Part II (not yet published as of May 30, 2022)

For more info on ReddCoin, please visit https://reddcoin.com and https://redd.love

ReddCoin (RDD) Core Dev Update, May/June 2022 — Part I (of II) was originally published in ProjectRedd on Medium, where people are continuing the conversation by highlighting and responding to this story.

If the wallet looks the same, what’s the big deal about this upgrade?

This article attempts to share some of the key technical achievements and goals of incorporating the new code into our ReddCoin Core wallet.

If you have suggestions, feature requests, want to contribute or otherwise comment, please visit the GitHub repo we’re working in:

GitHub - reddcoin-project/reddcoin-0.22: reddcoin 0.22

Compiled binaries may be obtained at https://download.reddcoin.com/bin/reddcoin-core-4.22.0/alpha/

IMPORTANT NOTE: THIS IS NOT A MAINNET PRODUCTION READY WALLET. DO NOT USE THIS CLIENT ON EXISTING RDD WALLETS AT THIS TIME.

We’re making a few important cosmetic changes to the operation of the ReddCoin Core wallet, the cornerstone of the ReddCoin network, and the software responsible for autonomously operating and managing the RDD blockchain. Addition of staking info pane, network info pane, a maintenance tab, enhanced transaction records, and a new layout of existing and new menu items.

Most of the important changes we’ve made and are now testing in our uniquely different PoSVv2 testnet environment are “under the hood” improvements; meant to improve things like security, speed, performance, database management and integrity, staking reporting and information, and more to make the overall “ReddHead user experience” simply better.

Gone are the days of “wait for days while eight years of data syncs, while the wallet seems to freeze”. Full sync from zero now completes in minutes to a couple hours, depending on your bandwidth and ability to process the data.

Improved DNS seed handling, peer handling, and staking information display.

Orders of magnitude faster, and with a synchronization speed/info page to show exactly what status is. No more freezing, reinstalling, restarting, hoping to sync. Usability and speed have increased immensely. No more bootstrap files and endless waiting to process blocks on disk. Not only does headers-first and robust error-checking speed the sync process, but optimizations in disk IO, memory and database structures all combine to give a much snappier and performance-related feel to the Core wallet v4

Take a look at the short video below, reflecting a full testnet sync in realtime (some segments removed to make it viewable and shorter, but not sped up beyond actual speed. 17 weeks of testnet data syncs in about 19–20 minutes. Clicking through features and tabs while it syncs without a freeze or hang. Wow, right?

The new wallets support SegWit (Segregated Witness) address formats natively, but until we have appropriately activated that process on mainnet, legacy addresses are and will continue to be supported in all wallets old and new as the default to preserve function as we move forward. That will be the subject of a different publication in order to explain the process, which we’ve designed to be fairly seamless and transparent to almost all users.

When these features or modules are activated using the new signaling system, ReddHeads will be able to see features come online and new versions released taking advantage of the new scripting, addresses, multi-wallet staking, and more.

Memory usage and Management

While ReddCoin’s older v3 and v2 wallets suffered a lack of robust memory management and usage, the upgrade to the walelt brings down overhead required, limits RAM thrashing and overutilization of cache, allowing for a far smother and freeze-free experience, even with the most complex wallets. Open multiple wallets, lock some and stake some, as your Reddhead needs require. Multiple intuitive GUI enhancements have been added like direct click of icons on home page, additional staking insight, and a new toolset/maintenance page (not yet available) for commonly needed operations.

Future Extensibility

BIP9 implementation will allow for better soft fork management and ease of adjusting the network through user action according to stakeholders. This features allows signaling to activate or not activate certain features, and to report to the network that thresholds have been reached to activate certain modules or components. This allows in-place technology activation without requiring users upgrade to enable features as they are tested and released onto mainnet.

Additional extensibility and conenctivity features include CLTV (time lock), segwit, taproot and more. These advances allow for RDD to be connected to certain UTXO DEXes like AtomicDEX and other accessible decentralized platforms that require contractual timelock on transactions. To date, RDD has not had this capability, but the new wallets bring the ability to literally “timelock” a transaction and have it either expire or complete at some date in the future dependant on conditions elsewhere. This capability is part of a complex change of behavior to the way addresses are handled, and is the root of some of the delays in our Core work as we work our hardest to comprehend, integrate, test (and sometimes fix) the code that brings this all to life.

Please refer to technical documentation for an in-depth look at these fundamental chain technologies and how they fit into ReddCoin’s evolution. Keeping this update as non-technical as we can for our general Reddhead audience. :)

We’re also now able to reach a broader set of popular computers and mobile devices, and drive computing platform adoption with the new compilation and building process included with the new wallet work. A single build process will generate viable compiled binaries for Windows, Linux, OSX, PPC, RaspPI, embedded system and more, shrinking our time to release each time the software is updated. CryptoGnasher, our beloved lead technical dev, will be release a video walking through that build process and some of the issues encountered to share an inside view of what it takes to make ReddCoin software from code to “click here to run the wallet”. We’d love for nayone interested in learning to join us in the work, as many hands make light work, and speed our development with each addition.

We’d also like to acknowledge the complex and immensely hard work integrating these cutting-edge features while maintaining the integrity of our unqiue and beautiful PoSVv2 staking has been a battle of wits, skills, and ability to research deeply, understand deeply, and code well. Thanks especially to members of the BTC community, and our own John Nash and newcomer to our project BarryStyle.

ReddCoin (RDD) — Core Wallet 4.22 — Taproot: Efficiency, Security, Privacy was originally published in ProjectRedd on Medium, where people are continuing the conversation by highlighting and responding to this story.

ReddCoin Core 4.22 Beta — What Is Taproot?

What is Taproot and how does it work?

P2SH

All RDD are essentially “locked up” in scripts: a couple lines of code embedded in a transaction included in the blockchain, that define how the coins can be spent in the next transaction. Spending conditions usually involve providing a signature to prove ownership of the coins. But other, well-known conditions for example include timelocks (coins can only be spent after a specific block height or date) or multisig (coins can only be spent if some number of private keys out of a set of private keys provide signatures).

Different conditions can be mixed and matched, to create complex types of smart contracts. An example of such a contract could be that coins can be spent if both Alice and Bob sign, or if Alice alone signs after a week has passed, or if Bob alone signs while also providing a secret number. Whichever of these three conditions is met first, is how the coins are spent.

Since 2012, scripts (the conditions) are often not publicly visible at first; only the new owner of the coins knows how they can be spent. This is done with a trick called P2SH (pay to script hash), where initially only a hash of the script is included in the blockchain. This seemingly randomly scrambled number holds the coins. When the owner spends the coins, he reveals the whole script as well as the “solution” to the script at the same time. Anyone can then use the initial hash to check that the supplied script was indeed the original script locking up the coins and can immediately conclude that the requirements of the script were met.

Still, when the coins are spent, it’s currently necessary to reveal all the possible conditions that could have been met — including the conditions that weren’t met. This has two main downsides. One, it’s data heavy, especially if there are many conditions. And two, it’s bad for privacy. Everyone learns all the different ways in which funds could have been spent, which can, for example, reveal what kind of wallet was used and perhaps even more.

MAST

MAST (Merkelized Abstract Syntax Tree) is a proposed solution that uses Merkle trees (a decades-old, compact data structure invented by cryptographer Ralph Merkle) to work around these two downsides. In short, all the different conditions under which the funds can be spent are individually hashed (as opposed to combined into a single hash) and included in a Merkle tree, which ultimately produces a single hash: the Merkle root. This Merkle root “locks up” the coins.

The unique benefit is that if any of the data in the Merkle tree is revealed, the Merkle root and some additional data (called the Merkle path) can be used to verify that that specific data was included in the Merkle tree. The rest of the Merkle tree remains hashed and hidden.

With MAST, this means that only the condition that is met needs to be revealed. If, in the initial example above, Alice alone spends the funds after a week, she just reveals that condition (and the Merkle path). No one learns that the money could have also been spent by Alice and Bob together, or by Bob alone if he’d added a secret number. This makes MAST more data efficient than complex P2SH smart contracts and adds privacy to boot.

Yet with Schnorr, Taproot can do even better: a transaction can hide that a MAST-structure existed at all.

SCHNORR

The Schnorr signature scheme has long been on the wishlist of many Bitcoin developers and is currently in development to be deployed as a soft fork protocol upgrade. Many cryptographers consider the Schnorr signature scheme to be the best in the field, as its mathematical properties offer a strong level of correctness, it doesn’t suffer from malleability and is relatively fast to verify.

As its best-known benefit in the context of Bitcoin, Schnorr’s “linear math” allows for signature aggregation: several signatures in the same transaction can be combined into one. A similar trick could be applied to multisig transactions. Combining both public keys and signatures into “threshold public keys” and “threshold signatures,” a multisig transaction can be made indistinguishable from any regular transaction.

And the signature scheme can be used in even more interesting ways. For example, it’s possible to use data to “tweak” both a private key and a public key. As a simplified example, a private key and its corresponding public key could be tweaked by multiplying both by two. The “private key x 2” and the “public key x 2” would still correspond, and the “private key x 2” could still sign messages that could be verified with the “public key x 2.” Anyone unaware that the original key pair was tweaked wouldn’t even see any difference; the tweaked keys look like any other key pair.

This is what enables Taproot.

TAPROOT

Taproot is based on an interesting realization: no matter how complex, almost any MAST-construction could (or should) include a condition that allows all participants to agree on the outcome and simply sign off on a settlement transaction together. In the earlier example, if Bob knows Alice can, by herself, claim all the funds next week, he might as well cooperate with her now to sign off together. (In many typical smart contract setups he would even be penalized if he doesn’t. The complexity really just serves to keep everyone honest.)

Taproot resembles MAST and always includes a condition where all participants can cooperate to spend the funds: the “cooperative close.”

By utilizing Schnorr signatures, this is where it gets interesting.

First off, the cooperative close would utilize Schnorr’s threshold trick to make it look like a regular transaction, from one person to another. So, the public keys of all participants are added together, resulting in the “threshold public key.” Corresponding with this threshold public key, the combination of all participants’ signatures — their “threshold signature” — allows them to spend the funds.

So far so good, but spending the funds as if it were a normal transaction is the only thing they can do — no MAST-like structures yet. That’s where the other Schnorr trick comes in.

All the alternative ways in which the funds can be spent — the non-cooperative outcomes — are this time combined into a different script. This script, then, is hashed and used to tweak the threshold public key. Rather than “public key x 2,” as used in the example earlier, this results in a “threshold public key x script.” (We’re still simplifying.) This “threshold public key x script” corresponds, of course, to a “threshold signature x script.”

Now, if the money is spent cooperatively, all participants combine their signatures into the “threshold signature” and tweak it with the script. The resulting “threshold signature x script” allows them to spend the funds. Yet, and importantly, to the outside world, all this would still just look like a regular public key and a regular signature — a regular transaction.

Only if a cooperative close proves impossible, the threshold public key can be shown for what it really is: tweaked.

In this case, both the original threshold public key and the script are revealed. This proves that the “threshold public key x script” was tweaked with this specific script. So, like the hash in P2SH, the tweak proves to the world that the funds should be spendable if the alternative conditions, as specified in this script, are met. (And, like with P2SH, these conditions are of course immediately met to spend the funds.)

Alternatively, instead of tweaking the threshold public key with script, the threshold public key can be tweaked with a Merkle root of a Merkle tree that includes all the different conditions under which the funds can be spent: a MAST structure. To spend the funds, then, only the spending condition that’s been met needs to be revealed.

As such, Taproot offers all the benefits of MAST, while under normal circumstances no one will ever know that a regular transaction was hiding such a complex smart contract as a fallback.

IMPROVING THE BITCOIN (AND REDDCOIN) TRANSACTION MODEL

The history of paying in bitcoin has changed a lot since the early days of the network. Overall, the UTXO model described above relies on scripts or contracts created using the Bitcoin Script “programming” language. This author has put “programming” in quotation marks because Bitcoin’s scripting language can more accurately be seen as a verification language than one that provides computation directives. In essence, Bitcoin scripting is a way to specify conditions for spending a UTXO.

There are three major constraints when considering Bitcoin Script and how its improvements are made: privacy, space efficiency, and computational efficiency — usually, improving one of these cascades into strengthening the other two. For instance, seeking to reveal less about a transaction and thereby improving privacy would entail submitting a smaller amount of data, reducing space needs for the transaction, and making it easier to be verified — it’s less computationally intensive.

We have been improving how ReddCoin transactions work by gradually introducing new script, or address, types. Ultimately, these changes have sought to enhance transactional privacy, make the transfer of funds more lightweight, and speed up the process of validating transactions. As a result, users have greater flexibility for creating scripts that increase the resilience of their savings, move funds around more efficiently and privately, and help unleash financial sovereignty. Albeit complicated for the end-user, technical tools have emerged to adopt these practices and abstract low-level technicalities, ensuring greater adoption of current best practices.

One clear example of this is multisignature addresses, which once had to be done manually with Bitcoin Script but can now be effortlessly created with a smartphone or a laptop.

Taproot, the latest upgrade to the Bitcoin protocol and arguably the most important one to date, is a natural evolution of the way Bitcoin transactions, and hence scripts, work. Enabled by Schnorr signatures, MAST and Tapscript, Taproot seeks to increase flexibility and privacy without compromising security.

WHAT TAPROOT COULD ULTIMATELY ENABLE FOR AVERAGE REDDCOIN USERS

By making transactions cheaper, more efficient, and more private, the adoption of Taproot will set the stage for extra functionality to land on the ReddCoin network. As nodes upgrade and people start using Taproot addresses primarily, it will become more difficult for blockchain observers to spot and discriminate between senders and receivers, UTXOs will be treated more equally, and the broader ReddCoin network will be a more robust settlement network that enables complex functionality to be built on top.

Layer 2 protocols and sidechains will be empowered to step up and leverage even more sophisticated smart contracts for coordinating funds on the base layer. The end-user might not construct these themselves, but they will benefit from more special offerings in the broader ReddCoin ecosystem with stronger assurances. Although some decentralized finance applications and use cases are already being implemented on ReddCoin’s network, the greater smart contract flexibility and capabilities brought by the Taproot upgrade can ultimately allow even more use cases to be implemented and more complex functionality to be deployed while leveraging the strong security assurances of the new code.

As RDD is actual money, long-term applications of decentralized finance can naturally only be built on top of it. Networks such as Ethereum lack the monetary properties of the Bitcoin base layer and its security and robustness — part of the reason why most applications built on them have fallen short of accomplishing their value proposition over the long run. By patiently building up the foundations for a distributed, uncensorable, antifragile, and sovereign monetary network throughout its lifetime, ReddCoin is set to enjoy actual long term functionality and growth through a layered approach.

CONCLUSION

In short, complex concepts come together to provide smaller more efficient transactions, more privacy, more user protection, and smart cotnract functionality allowing for complex operations on what would otherwise be a firaly simple blockchain. The features have been activated on the bitcoin blockchain, and ReddCoin is proud to incorporate much of the BTC developers work with some little additions of our own.

Endless credit to Barrystyle, CryptoGnasher and others for endless, dedicated work to incorporate new code into the latest versions of ReddCoin Core, solve new and intractable problems, and in general, bashing their heads on the monitors and keyboards for the benefit of the ReddCoin ecosystem. Thank a ReddCoin dev today! :)

About Redd

Redd is a global social movement that allows anyone, anywhere, the power to tip, support, donate and fund social causes, independent content creators, and humanitarian programs. The platform utilizes ReddCoin (RDD), a reliable and versatile decentralized cryptocurrency launched in 2014 that allows for seamless payments across borders and social networks. All Redd Partners are expected to adhere to the project’s high standards of openness, accountability, and user experience as we strive to be an example of not only the stated ideals of love, support and inclusion, but also integrity, transparency, and honor.

Feel free to visit us at Redd.Love, Reddcoin.com or email info@reddcoin.com. You can also follow us on YouTube, Twitter and Telegram Love to all of our Reddheads, new and old, and welcome!

ReddCoin Core 4.22 beta — What Is Taproot? was originally published in ProjectRedd on Medium, where people are continuing the conversation by highlighting and responding to this story.

ReddCoin (RDD) 4.22 Taproot: Validation of Taproot Scripts (BIP0342)

A complex description of BIP0342 adapted to ReddCoin’s bespoke PoSVv2 staking protocol. Includes initial activation of SegWit (Segregated Witness) network and address support. Content adapted from BTC’s wiki here.

This document specifies the semantics of the initial scripting system under BIP341 as a separate BIP0342.

BIP341 proposes improvements to just the script structure, but some of its goals are incompatible with the semantics of certain opcodes within the scripting language itself. While it is possible to deal with these in separate optional improvements, their impact is not guaranteed unless they are addressed simultaneously with BIP341 itself.

Specifically, the goal is making Schnorr signatures, batch validation, and signature hash improvements available to spends that use the script system as well.

Design

In order to achieve these goals, signature opcodes OP_CHECKSIG and OP_CHECKSIGVERIFY are modified to verify Schnorr signatures as specified in BIP340 and to use a signature message algorithm based on the common message calculation in BIP341. The tapscript signature message also simplifies OP_CODESEPARATOR handling and makes it more efficient.

The inefficient OP_CHECKMULTISIG and OP_CHECKMULTISIGVERIFY opcodes are disabled. Instead, a new opcode OP_CHECKSIGADD is introduced to allow creating the same multisignature policies in a batch-verifiable way. Tapscript uses a new, simpler signature opcode limit fixing complicated interactions with transaction weight. Furthermore, a potential malleability vector is eliminated by requiring MINIMALIF.

Tapscript can be upgraded through soft forks by defining unknown key types, for example to add new hash_types or signature algorithms. Additionally, the new tapscript OP_SUCCESS opcodes allow introducing new opcodes more cleanly than through OP_NOP.

Specification

The rules below only apply when validating a transaction input for which all of the conditions below are true:

• The transaction input is a segregated witness spend (i.e., the scriptPubKey contains a witness program as defined in BIP141).
• It is a taproot spend as defined in BIP341 (i.e., the witness version is 1, the witness program is 32 bytes, and it is not P2SH wrapped).
• It is a script path spend as defined in BIP341 (i.e., after removing the optional annex from the witness stack, two or more stack elements remain).
• The leaf version is 0xc0 (i.e. the first byte of the last witness element after removing the optional annex is 0xc0 or 0xc1), marking it as a tapscript spend.

Script execution

The execution rules for tapscript are based on those for P2WSH according to BIP141, including the OP_CHECKLOCKTIMEVERIFY and OP_CHECKSEQUENCEVERIFY opcodes defined in BIP65 and BIP112, but with the following modifications:

• Disabled script opcodes The following script opcodes are disabled in tapscript: OP_CHECKMULTISIG and OP_CHECKMULTISIGVERIFY[2]. The disabled opcodes behave in the same way as OP_RETURN, by failing and terminating the script immediately when executed, and being ignored when found in unexecuted branch of the script.
• Consensus-enforced MINIMALIF The MINIMALIF rules, which are only a standardness rule in P2WSH, are consensus enforced in tapscript. This means that the input argument to the OP_IF and OP_NOTIF opcodes must be either exactly 0 (the empty vector) or exactly 1 (the one-byte vector with value 1)[3].
• OP_SUCCESSx opcodes As listed above, some opcodes are renamed to OP_SUCCESSx, and make the script unconditionally valid.
• Signature opcodes. The OP_CHECKSIG and OP_CHECKSIGVERIFY are modified to operate on Schnorr public keys and signatures (see BIP340) instead of ECDSA, and a new opcode OP_CHECKSIGADD is added.
• The opcode 186 (0xba) is named as OP_CHECKSIGADD. [4][5]

Common Signature Message Extension

We define the tapscript message extension ext to BIP341 Common Signature Message, indicated by ext_flag = 1:

• tapleaf_hash (32): the tapleaf hash as defined in BIP341
• key_version (1): a constant value 0x00 representing the current version of public keys in the tapscript signature opcode execution.
• codesep_pos (4): the opcode position of the last executed OP_CODESEPARATOR before the currently executed signature opcode, with the value in little endian (or 0xffffffff if none executed). The first opcode in a script has a position of 0. A multi-byte push opcode is counted as one opcode, regardless of the size of data being pushed. Opcodes in parsed but unexecuted branches count towards this value as well.

Signature validation

To validate a signature sig with public key p:

• Compute the tapscript message extension ext described above.
• If the sig is 64 bytes long, return Verify(p, hashTapSighash(0x00 || SigMsg(0x00, 1) || ext), sig), where Verify is defined in BIP340.
• If the sig is 65 bytes long, return sig[64] ≠ 0x00 and Verify(p, hashTapSighash(0x00 || SigMsg(sig[64], 1) || ext), sig[0:64]).
• Otherwise, fail.

In summary, the semantics of signature validation is identical to BIP340, except the following:

1. The signature message includes the tapscript-specific data key_version.[7]
2. The signature message commits to the executed script through the tapleaf_hash which includes the leaf version and script instead of scriptCode. This implies that this commitment is unaffected by OP_CODESEPARATOR.
3. The signature message includes the opcode position of the last executed OP_CODESEPARATOR.[8]

Resource limits

In addition to changing the semantics of a number of opcodes, there are also some changes to the resource limitations:

• Script size limit The maximum script size of 10000 bytes does not apply. Their size is only implicitly bounded by the block weight limit.[9]
• Non-push opcodes limit The maximum non-push opcodes limit of 201 per script does not apply.[10]
• Sigops limit The sigops in tapscripts do not count towards the block-wide limit of 80000 (weighted). Instead, there is a per-script sigops budget. The budget equals 50 + the total serialized size in bytes of the transaction input’s witness (including the CompactSize prefix). Executing a signature opcode (OP_CHECKSIG, OP_CHECKSIGVERIFY, or OP_CHECKSIGADD) with a non-empty signature decrements the budget by 50. If that brings the budget below zero, the script fails immediately. Signature opcodes with unknown public key type and non-empty signature are also counted.[11][12][13].
• Stack + altstack element count limit The existing limit of 1000 elements in the stack and altstack together after every executed opcode remains. It is extended to also apply to the size of initial stack.
• Stack element size limit The existing limit of maximum 520 bytes per stack element remains, both in the initial stack and in push opcodes.

Rationale

1. ^ OP_SUCCESSx OP_SUCCESSx is a mechanism to upgrade the Script system. Using an OP_SUCCESSx before its meaning is defined by a softfork is insecure and leads to fund loss. The inclusion of OP_SUCCESSx in a script will pass it unconditionally. It precedes any script execution rules to avoid the difficulties in specifying various edge cases, for example: OP_SUCCESSx in a script with an input stack larger than 1000 elements, OP_SUCCESSx after too many signature opcodes, or even scripts with conditionals lacking OP_ENDIF. The mere existence of an OP_SUCCESSx anywhere in the script will guarantee a pass for all such cases. OP_SUCCESSx are similar to the OP_RETURN in very early bitcoin versions (v0.1 up to and including v0.3.5). The original OP_RETURN terminates script execution immediately, and return pass or fail based on the top stack element at the moment of termination. This was one of a major design flaws in the original bitcoin protocol as it permitted unconditional third party theft by placing an OP_RETURN in scriptSig. This is not a concern in the present proposal since it is not possible for a third party to inject an OP_SUCCESSx to the validation process, as the OP_SUCCESSx is part of the script (and thus committed to by the taproot output), implying the consent of the coin owner. OP_SUCCESSx can be used for a variety of upgrade possibilities:

• An OP_SUCCESSx could be turned into a functional opcode through a softfork. Unlike OP_NOPx-derived opcodes which only have read-only access to the stack, OP_SUCCESSx may also write to the stack. Any rule changes to an OP_SUCCESSx-containing script may only turn a valid script into an invalid one, and this is always achievable with softforks.
• Since OP_SUCCESSx precedes size check of initial stack and push opcodes, an OP_SUCCESSx-derived opcode requiring stack elements bigger than 520 bytes may uplift the limit in a softfork.
• OP_SUCCESSx may also redefine the behavior of existing opcodes so they could work together with the new opcode. For example, if an OP_SUCCESSx-derived opcode works with 64-bit integers, it may also allow the existing arithmetic opcodes in the same script to do the same.
• Given that OP_SUCCESSx even causes potentially unparseable scripts to pass, it can be used to introduce multi-byte opcodes, or even a completely new scripting language when prefixed with a specific OP_SUCCESSx opcode.

1. ^ Why is a limit on script size no longer needed? Since there is no scriptCode directly included in the signature hash (only indirectly through a precomputable tapleaf hash), the CPU time spent on a signature check is no longer proportional to the size of the script being executed.
2. ^ Why is a limit on the number of opcodes no longer needed? An opcode limit only helps to the extent that it can prevent data structures from growing unboundedly during execution (both because of memory usage, and because of time that may grow in proportion to the size of those structures). The size of stack and altstack is already independently limited. By using O(1) logic for OP_IF, OP_NOTIF, OP_ELSE, and OP_ENDIF as suggested here and implemented here, the only other instance can be avoided as well.
3. ^ The tapscript sigop limit The signature opcode limit protects against scripts which are slow to verify due to excessively many signature operations. In tapscript the number of signature opcodes does not count towards the BIP141 or legacy sigop limit. The old sigop limit makes transaction selection in block construction unnecessarily difficult because it is a second constraint in addition to weight. Instead, the number of tapscript signature opcodes is limited by witness weight. Additionally, the limit applies to the transaction input instead of the block and only actually executed signature opcodes are counted. Tapscript execution allows one signature opcode per 50 witness weight units plus one free signature opcode.
4. ^ Parameter choice of the sigop limit Regular witnesses are unaffected by the limit as their weight is composed of public key and (SIGHASH_ALL) signature pairs with 33 + 65 weight units each (which includes a 1 weight unit CompactSize tag). This is also the case if public keys are reused in the script because a signature's weight alone is 65 or 66 weight units. However, the limit increases the fees of abnormal scripts with duplicate signatures (and public keys) by requiring additional weight. The weight per sigop factor 50 corresponds to the ratio of BIP141 block limits: 4 mega weight units divided by 80,000 sigops. The "free" signature opcode permitted by the limit exists to account for the weight of the non-witness parts of the transaction input.
5. Why are only signature opcodes counted toward the budget, and not for example hashing opcodes or other expensive operations? It turns out that the CPU cost per witness byte for verification of a script consisting of the maximum density of signature checking opcodes (taking the 50 WU/sigop limit into account) is already very close to that of scripts packed with other opcodes, including hashing opcodes (taking the 520 byte stack element limit into account) and OP_ROLL (taking the 1000 stack element limit into account). That said, the construction is very flexible, and allows adding new signature opcodes like CHECKSIGFROMSTACK to count towards the limit through a soft fork. Even if in the future new opcodes are introduced which change normal script cost there is no need to stuff the witness with meaningless data. Instead, the taproot annex can be used to add weight to the witness without increasing the actual witness size.

Deployment

This proposal is deployed identically to Taproot (BIP341). See ReddCoin’s adaptation of BIP0341 detail and technical info at https://medium.com/projectredd.

Acknowledgements

This document is the result of ReddCoin’s team adapting directly technology, rationale, code and discussions from the BTC community and dev team around script and signature improvements with many people, and had direct contributions from Greg Maxwell and others. It further builds on top of earlier published proposals such as Taproot by Greg Maxwell, and Merkle branch constructions by Russell O’Connor, Johnson Lau, and Mark Friedenbach.

The ReddCoin team acknowledges the work of the authors who themselves wish tho thank Arik Sosman for suggesting to sort Merkle node children before hashes, removing the need to transfer the position in the tree, as well as all those who provided valuable feedback and reviews, including the participants of the structured reviews.

Source material may be found at: https://github.com/bitcoin/bips/blob/master/bip-0342.mediawiki

Further structured review of all features and complex concepts may be found at: https://github.com/ajtowns/taproot-review

About Redd

Redd is a global social movement that allows anyone, anywhere, the power to tip, support, donate and fund social causes, independent content creators, and humanitarian programs. The platform utilizes ReddCoin (RDD), a reliable and versatile decentralized cryptocurrency launched in 2014 that allows for seamless payments across borders and social networks. All Redd Partners are expected to adhere to the project’s high standards of openness, accountability, and user experience as we strive to be an example of not only the stated ideals of love, support and inclusion, but also integrity, transparency, and honor.

Feel free to visit us at Redd.Love, Reddcoin.com or email info@reddcoin.com. You can also follow us on YouTube, Twitter and Telegram Love to all of our Reddheads, new and old, and welcome!

ReddCoin (RDD) 4.22 Taproot: Validation of Taproot Scripts was originally published in ProjectRedd on Medium, where people are continuing the conversation by highlighting and responding to this story.

A complex description of BIP0341 adapted to ReddCoin’s bespoke PoSVv2 staking protocol. Includes initial activation of SegWit (Segregated Witness) network and address support. Content adapted from BTC’s wiki

A number of related ideas for improving ReddCoin’s scripting capabilities have been previously proposed: Schnorr signatures (BIP340), Merkle branches (“MAST”, BIP114, BIP117), new sighash modes (BIP118), new opcodes like CHECKSIGFROMSTACK, Taproot, Graftroot, G’root, and cross-input aggregation.

Combining all these ideas in a single proposal would be an extensive change, be hard to review, and likely miss new discoveries that otherwise could have been made along the way. Not all are equally mature as well. For example, cross-input aggregation interacts in complex ways with upgrade mechanisms, and solutions to that are still in flux. On the other hand, separating them all into independent upgrades would reduce the efficiency and privacy gains to be had, and wallet and service providers may not be inclined to go through many incremental updates. Therefore, we’re faced with a tradeoff between functionality and scope creep. In this design we strike a balance by focusing on the structural script improvements offered by Taproot and Merkle branches, as well as changes necessary to make them usable and efficient. For things like sighashes and opcodes we include fixes for known problems, but exclude new features that can be added independently with no downsides.

As a result we choose this combination of technologies:

• Merkle branches let us only reveal the actually executed part of the script to the blockchain, as opposed to all possible ways a script can be executed. Among the various known mechanisms for implementing this, one where the Merkle tree becomes part of the script’s structure directly maximizes the space savings, so that approach is chosen.
• Taproot on top of that lets us merge the traditionally separate pay-to-pubkey and pay-to-scripthash policies, making all outputs spendable by either a key or (optionally) a script, and indistinguishable from each other. As long as the key-based spending path is used for spending, it is not revealed whether a script path was permitted as well, resulting in space savings and an increase in scripting privacy at spending time.
• Taproot’s advantages become apparent under the assumption that most applications involve outputs that could be spent by all parties agreeing. That’s where Schnorr signatures come in, as they permit key aggregation: a public key can be constructed from multiple participant public keys, and which requires cooperation between all participants to sign for. Such multi-party public keys and signatures are indistinguishable from their single-party equivalents. This means that with taproot most applications can use the key-based spending path, which is both efficient and private. This can be generalized to arbitrary M-of-N policies, as Schnorr signatures support threshold signing, at the cost of more complex setup protocols.
• As Schnorr signatures also permit batch validation, allowing multiple signatures to be validated together more efficiently than validating each one independently, we make sure all parts of the design are compatible with this.
• Where unused bits appear as a result of the above changes, they are reserved for mechanisms for future extensions. As a result, every script in the Merkle tree has an associated version such that new script versions can be introduced with a soft fork while remaining compatible with BIP 341. Additionally, future soft forks can make use of the currently unused annex in the witness (see BIP341).
• While the core semantics of the signature hashing algorithm are not changed, a number of improvements are included in this proposal. The new signature hashing algorithm fixes the verification capabilities of offline signing devices by including amount and scriptPubKey in the signature message, avoids unnecessary hashing, uses tagged hashes and defines a default sighash byte.
• The public key is directly included in the output in contrast to typical earlier constructions which store a hash of the public key or script in the output. This has the same cost for senders and is more space efficient overall if the key-based spending path is taken. [2]

Informally, the resulting design is as follows: a new witness version is added (version 1), whose programs consist of 32-byte encodings of points Q. Q is computed as P + hash(P||m)G for a public key P, and the root m of a Merkle tree whose leaves consist of a version number and a script. These outputs can be spent directly by providing a signature for Q, or indirectly by revealing P, the script and leaf version, inputs that satisfy the script, and a Merkle path that proves Q committed to that leaf. All hashes in this construction (the hash for computing Q from P, the hashes inside the Merkle tree’s inner nodes, and the signature hashes used) are tagged to guarantee domain separation.

Security

Taproot improves the privacy of ReddCoin (RDD) because instead of revealing all possible conditions for spending an output, only the satisfied spending condition has to be published. Ideally, outputs are spent using the key path which prevents observers from learning the spending conditions of a coin. A key path spend could be a “normal” payment from a single- or multi-signature wallet or the cooperative settlement of hidden multiparty contract.

A script path spend leaks that there is a script path and that the key path was not applicable — for example because the involved parties failed to reach agreement. Moreover, the depth of a script in the Merkle root leaks information including the minimum depth of the tree, which suggests specific wallet software that created the output and helps clustering. Therefore, the privacy of script spends can be improved by deviating from the optimal tree determined by the probability distribution over the leaves.

Just like other existing output types, taproot outputs should never reuse keys, for privacy reasons. This does not only apply to the particular leaf that was used to spend an output but to all leaves committed to in the output. If leaves were reused, it could happen that spending a different output would reuse the same Merkle branches in the Merkle proof. Using fresh keys implies that taproot output construction does not need to take special measures to randomizing leaf positions because they are already randomized due to the branch-sorting Merkle tree construction used in taproot. This does not avoid leaking information through the leaf depth and therefore only applies to balanced (sub-) trees. In addition, every leaf should have a set of keys distinct from every other leaf. The reason for this is to increase leaf entropy and prevent an observer from learning an undisclosed script using brute-force search.

This BIP is deployed concurrently with BIP342 (article here).

For ReddCoin mainnet and testnet3, these BIPs are deployed by “version bits” with the name “taproot” and bit 2, using BIP9 modified to use a lower threshold, with an additional min_activation_height parameter and replacing the state transition logic for the DEFINED, STARTED and LOCKED_IN states.

As a soft fork, older software will continue to operate without modification. Non-upgraded nodes, however, will consider all SegWit version 1 witness programs as anyone-can-spend scripts. They are strongly encouraged to upgrade in order to fully validate the new programs.

Non-upgraded wallets can receive and send RDD from non-upgraded and upgraded wallets using SegWit version 0 programs, traditional pay-to-pubkey-hash, etc. Depending on the implementation non-upgraded wallets may be able to send to Segwit version 1 programs if they support sending to BIP350 Bech32m addresses.

Acknowledgements

This document is the result of ReddCoin’s team adapting directly technology, rationale, code and discussions from the BTC community and dev team around script and signature improvements with many people, and had direct contributions from Greg Maxwell and others. It further builds on top of earlier published proposals such as Taproot by Greg Maxwell, and Merkle branch constructions by Russell O’Connor, Johnson Lau, and Mark Friedenbach.

The ReddCoin team acknowledges the work of the authors who themselves wish tho thank Arik Sosman for suggesting to sort Merkle node children before hashes, removing the need to transfer the position in the tree, as well as all those who provided valuable feedback and reviews, including the participants of the structured reviews.

Source material may be found at: https://github.com/bitcoin/bips/blob/master/bip-0341.mediawiki

See also ReddCoin pub on BIP0342 deployed together with this work.

About Redd

Redd is a global social movement that allows anyone, anywhere, the power to tip, support, donate and fund social causes, independent content creators, and humanitarian programs. The platform utilizes ReddCoin (RDD), a reliable and versatile decentralized cryptocurrency launched in 2014 that allows for seamless payments across borders and social networks. All Redd Partners are expected to adhere to the project’s high standards of openness, accountability, and user experience as we strive to be an example of not only the stated ideals of love, support and inclusion, but also integrity, transparency, and honor.

Feel free to visit us at Redd.Love, Reddcoin.com or email info@reddcoin.com. You can also follow us on YouTube, Twitter and Telegram Love to all of our Reddheads, new and old, and welcome!

ReddCoin (RDD) 4.22 Taproot: SegWit version 1 spending rules (BIP0341) was originally published in ProjectRedd on Medium, where people are continuing the conversation by highlighting and responding to this story.

Tell me more…

As part of our participation with the newly launched “Altcoin Reserve ‘’, the ReddCoin Core Team has the following option to help stabilize our community and coin’s value now and into the future, and to restore confidence and resources after the sudden removal of two of our major markets.

The Altcoin Reserve was in part created to act as a protection against exactly such events as we have just seen; without any substantive change in the project or team, and in fact on the heels of some solid partnership and development work, a single delisting announcement has caused the speculators in our cryptocurrency to abruptly lose faith, lowering the price of our coin. While the Redd team has always attempted to promote our work and use-cases over any type of price discussion, we note that having a stable value and reliable on- and off-ramps is the most critical component of our solution. So the Altcoin Reserve has decided to make ReddCoin the first example of a sort of “Altcoin Quantitative Easing”, comparable to the US Federal Reserve’s support of the US dollar.

Home | AltcoinReserveSystem

How does this work?

The Altcoin Reserve has premined and given to our project a total of 10M BTCQ worth approximately US$14.5M, the new native cryptocurrency of the Altcoin Reserve project, a federated coalition of altcoins including ReddCoin and others. (https://altcoinreserve.org).

In exchange, both TechAdept and CryptoGnasher will be participating actively in the Altcoin Reserve Board, to both promote Redd’s interests, and provide shared expertise and knowledge to the larger Board to inform group decisions and actions. We believe in the structure and mandate of the Altcoin Reserve as built and will be working to enhance and effect change both supported by, and as a part of, that new institution, as well as ensure transparency and integrity in the actions taken. A number of our peers from other altcoin projects have indicated they will be joining us, an immensely gratifying prospect of sharing resources and expertise across numerous altcoin teams and currencies.

What does this mean for ReddCoin?

So, ReddCoin now has 10M BTCQ worth approximately US$14.5M in our secondary treasury, held in a BTCQ wallet under Redd Core team control. This is a similar setup for each of the other participating projects as well. As there is no liquidity at present to sell BTCQ to the general public, or to exit to other cryptocurrencyes, or trade it on exchanges until Feb 2022, that gives us the following opportunity to use the new coin to stabilize our value in the face of Bittrex’ recent actions.

According to the terms of the Altcoin Reserve’s grant to Redd, we are willing to trade any RDD from the ReddHead community at 1 RDD/$.01, in BTCQ. You will receive BTCQ @ $1.45, or:

1 BTCQ = 145 RDD

10 BTCQ = 1450 RDD

100 BTCQ = 14500 RDD

1000 BTCQ = 145000 RDD

10,000 BTCQ = 1,450,000 RDD

Note: As a utility coin/cryptocurrency with an applied purpose, we emphasize that BTCQ is neither designed nor intended to “moon”, this coin is expected to track and anticipate inflation. Should inflation exceed customary expectations, we are given to expect from the economics that BTCQ value will rise. Exchange trading is expected to go live in Feb 2022 with BTCQ as a base pair matched to all included and added member altcoin projects at no lower than the price given above, and all efforts to expand and grow the BTCQ ecosystem itself will be supported by the Altcoin Reserve structure in the interim, focusing on marketing, communications and support for broad access to liquidity as possible.

If, at time of exchange opening in February, any BTCQ holders in the ReddCoin community wish to exit their position, the Redd Core Team, as part of the Altcoin Reserve, has been authorized to trade back any BTCQ at exactly the same above pricing scheme.

LAST-MINUTE EDIT: Just as we were publishing this announcement, an agreement was reached with an exchange to provide access to trading services of not only BTCQ, but all other member coins, as early as the beginning of the New Year. Details will be announced as that relationship is firmed up.

All funds used to purchase BTCQ through the Redd community, will be deposited in a Redd team-controlled staking wallet to earn rewards until used. Of these funds, 80% will belong to the Redd Core team to drive development work, hire the required expertise to complete our Core projects, add new listings, and further expand and strengthen the ReddCoin ecosystem.

This has the potential to place millions of dollars worth of RDD in our dev wallet exclusively to address the needs of software development and ecosystem expansion, along with funds with which to attract additional dev talent. The remaining 20% will be returned to the Altcoin Reserve for custody until trading opens in Feb, to then be used for liquidity and other purposes on the new Altcoin Reserve Exchange. If all donated coins are traded (which is of course unlikely), this will result in the Redd team holding nearly $11.6M in RDD, while the AR would hold a further $2.9M. Any coins remaining untraded will be held until BTCQ liquidity is available in Q1 2022, and will be used at at that time to support the Redd project as well.

$90m or more of BTCQ will be distributed (given) in the same way to all AR-participating project teams. While specific terms of sale per community may be different, each engagement is meant primarily to support the project and community in question, while adding strength to the underlying Altcoin Reserve entity.

As a group effort, all feeding into support of the same underlying glue to the participating altcoin projects, we believe strongly that we can succeed in our efforts despite the roadblocks that have been placed in front of us. ReddCoin Core has never, and will never, stop working toward our stated goals, and we are incredibly pleased and reassured that there are dozens of similarly driven and visionary projects that share the same challenges. We believe that in unity and harmony we will also find success, and we welcome our ReddHeads to participate, especially in looking into other projects supported by the Altcoin Reserve.

Please visit https://altcoinreserve.org for details on the members of the charter group of projects and those waiting to join as well. Each and every one has valid use-cases, long-term and sustained efforts and demonstrated success, dedicated and brilliant teams, and much more…and each has, in their history, refused steadfastly to deviate from their ethics and the crypto spirit to sell out to moneyed interests and those abusing the technology we have all collectively built to be shared. It is in that spirit that we all support each others’ efforts, and those of the Reserve.

To participate in this joint offering of ReddCore Core and the Altcoin Reserve, please visit this link and follow the directions:

https://forms.gle/GtHvzAManrMuPNJu6 — (ReddCoin only)

The ReddCoin team will be answering questions about this program in our channels along with the usual support, but we recommend interested ReddHeads read through the sites and information listed at the end of this article BEFORE signing up to the program.

TECHNICAL NOTE: BTCQ is minable in very, very small amounts for those who wish to earn and support BTCQ network security directly. Instructions for mining will be made available shortly, but the chain is live now if you have the requisite knowledge. As documented in the AR and BTCQ whitepapers, one of the first orders of business of the new Board of Governors once confirmed will be to arrange and support a transition to a proof-of-stake codebase, and PoW mining will end at that point with a hardfork to a stakable version of BTCQ.

Reference sites:

ReddCoin: www.reddcoin.com www.redd.love

Altcoin Reserve: www.altcoinreserve.org

BTCQ: www.bitcoinq.io

BTCQ: www.xbitcoinq.com

About Redd

Redd is a global social movement that allows anyone, anywhere, the power to tip, support, donate and fund social causes, independent content creators, and humanitarian programs. The platform utilizes ReddCoin (RDD), a reliable and versatile decentralized cryptocurrency launched in 2014 that allows for seamless payments across borders and social networks. All Redd Partners are expected to adhere to the project’s high standards of openness, accountability, and user experience as we strive to be an example of not only the stated ideals of love, support and inclusion, but also integrity, transparency, and honor.

Feel free to visit us at Redd.Love, Reddcoin.com or email info@reddcoin.com. You can also follow us on YouTube, Twitter and Telegram Love to all of our Reddheads, new and old, and welcome!

The ReddCoin Ecosystem Stability Program was originally published in ProjectRedd on Medium, where people are continuing the conversation by highlighting and responding to this story.

The ReddCoin (RDD) Core team and Project Redd have been working hard toward our goals, and wanted to take a few minutes to share some of the highlights of recent work as well as some significant steps forward in strategic plans.

We will be opening a number of our projects as widely as possible in coming days to engage our ReddHead community to help.

How can you help!

One of the loudest and most often heard requests in our Redd ecosystem is “how can I help?”. One aspect of this update will lay out a number of ways that eager and motivated ReddHeads can in fact pitch in a little or a lot, in whatever areas you feel capable of success, and in doing so, speed up the pace of the work we’ve been working toward for the last few years. We do need those who have technical skills, but not *only* those.

We have oodles of technical and nontechnical work to do. Websites, design plans, graphics, text pieces, marketing, PR, business development, and essentially every part of a successful startup effort. The more we grow, the more that is the case, of course, so if you want to help, we need you.

If you can write, clearly and compellingly, Redd needs you. If you can illustrate, either individual images, gifs, movies, or other graphic artistry, Redd needs you.

If you have experience elsewhere in the typical functions of a company, it is more than likely that Redd needs you. Accounting, project management, and yes of course, deep technical and software skills, or other data management. Redd is hugely data-driven and we need expertise to help expose and display that, more now than ever. Join in the fun!!

We are keenly aware of how we could “do better” as a project. Our project communications and marketing need improvement. Our software development practices need improvement. And more besides, and we realize that there are those in our community that are able to pitch in and not only lighten the overall load for the small group doing the majority of the work, but really make an impact in both what we’re doing, and what we’re able to do for others; other projects in the space, other ReddHeads and not-yet-ReddHeads, and the cryptosphere as an industry. Maybe that describes you?

What we do here echoes across crypto as ReddCoin is a leader, an innovator, and a known force for good in this space. Who wouldn’t want to be a part of that? :)

If any of that speaks to you, email us at info@reddcoin.com. It’s as easy as that. Or speak to one of the admins in our Telegram chat, as much of our team is live there daily, answering questions and engaging as we do. (https://t.me/ReddcoinOfficial)

Things we are working on

So, with that as a preface, welcome to our Almost-End-Of-Year Redd Core dev team update. Revealing some of the items that we’ve accomplished that have gone somewhat un-noted, some of the work currently underway, and what to expect from Redd both by end of the year 2021, and also moving into the future of fintech as it evolves.

ReddCoin (RDD) Core Wallet Development

The cornerstone and primary unit of the ReddCoin (RDD) network is the peer-to-peer desktop ReddCoin Core wallet (https://download.reddcoin.com if you don’t already have the current v3.10.3 version) , which provides the democratic, peer-to-peer staking and security functions that maintain our blockchain along with all of the standard send, receive, balance sorts of functions one normally associates with a wallet.

Considerations are many in not only adding upgraded code, security fixes and features, and user requests for functionality. It’s a complex effort requiring extensive strategic thinking, testing, coding, adjustment to our specific chain needs, and visual improvement, along with ideation and inclusion of new features. A “Staking” informational pane, for example, is something we’ve always needed, and is being included.

Other features and requests will be solicited from our ReddHead community shortly as part of this effort. We want to make sure that the cornerstone of our network does the things that our users need it to do, and part of that comes from ReddHeads speaking up and getting involved. If you have ideas (or again, skills), please don’t hesitate to voice them, or engage with the team. The more of that group collaborative development we can do, the better our eventual efforts become.

Initially our efforts focused on bringing our current codebase, now based on BTC 0.10, up to the recent release of BTC 0.21. This would include countless security, performance, storage, networking, and other critically important improvements. As we have gone through the upgrade process, the newer 0.22 release has been made available, so we have pivoted to include the major components from that upgrade as well. Technical progress may be noted on our github repository here: https://github.com/reddcoin-project/reddcoin-0.22, as well as pull requests and project/issue requests for those who wish to collaborate.

GitHub - reddcoin-project/reddcoin-0.22: reddcoin 0.22

As an example of the complexity, we’d like to point to the discussion/release notes for just the 0.21->0.22 upgrade step in BTC. We have had a similar process for each step from 0.10 and incremental releases all the way to current code. It’s finicky, detailed, complex work, but it’s getting done.

[bitcoin-core-dev] Bitcoin Core 22.0 released

At this time, we are immensely pleased with the initial results. Sync from zero, with enhanced performance and handling, along with CPU and memory/cache optimizations, allow for seven years of data to be brought up to data in less than six hours on a reasonable network connection. Since the new client also employs a headers-first absolute sync, the client can actually send and view transactions much faster than before as well during the sync process. A data screen has been added to provide sync information live as it happens, and as far as we are able to tell, the new client literally does not freeze at all the way the original (and current) clients do during extended sync.

This will immensely improve user experience, and much of our wallet corruption issues in ReddCoin are caused by forcing the wallet to quit without adequately closing files, because ReddHeads believe the wallet is “stuck”. This alone should be a huge step forward in usability and understanding of the sync process for our network. It is, in fact, only one improvement…and there are many.

Keen observers will note that the basic look and feel, apart from significant performance and responsiveness improvement, remains much the same. As the majority of the work to date has been done “under the hood”, that would of course make sense.

It is our goal shortly to bring in the process to redesign extensively the UI/UX aspects (User Interface/User Experience) of this wallet product, along with our other software. As mentioned, we welcome ideas, and engagement from those wishing to help.

For more info on 0.22 and Taproot, along with other aspects, here’s one resource for reading, but we encourage those with the intellectual curiosity to research and work with us to implement some of the cooler technologies developed here. https://academy.binance.com/en/articles/what-is-taproot-and-how-it-will-benefit-bitcoin

ReddMobile

Our cross-platform mobile wallet and foundation for decentralized tipping, ReddID, ReddShare and other features and offerings of the Redd ecosystem.

We have successfully adapted open-source code to the unique aspects of our ReddCoin chain, and built out a basic wallet platform on both Apple iOS and Google Android mobile device platforms and stores. Both are officially in test release as we begin to add features and functionality, and squash noted bugs, of course, and are generally available for users to work with, test, and suggest improvements.

We would note for any ReddHeads using these wallets that the most important step is to ensure your seed phrase is safe and secure. If you have that, you can delete the software, or lose/format your phone, and still regain access to any funds. As any crypto wallet, MAKE SURE TO KEEP YOUR SEED PHRASE OR PRIVATE KEYS SAFE!!

Google Play link: https://play.google.com/store/apps/details?id=com.reddcoin.reddcoin_flutter

Reddcoin Mobile Wallet - Apps on Google Play

Apple iOS TestFlight link: https://testflight.apple.com/join/8kLFj6tQ

Join the Reddcoin Mobile Wallet beta

Issues, problems, feature or enhancement requests may be posted here: https://github.com/reddcoin-project/reddcoin_flutter/issues

To contribute code to ReddMobile, please open a “pull request” in this repo: https://github.com/reddcoin-project/reddcoin_flutter

Translations may be offered & improved here: https://weblate.reddcoin.com/

At present, the ReddMobile wallet in test release is a basic functionality flutter-based wallet that will be the foundation for our decentralized tipping & name registration app as it evolves. We encourage our users to explore and engage with the development process and really help us work toward an awesome RDD-enabled solution that fits both our community’s current needs, and allows strategic and future planning to encompass our rapidly changing technology landscape.

ReddAcademy — Redd Core teaches about Redd Core

Our ReddAcademy efforts have been more than successful in capturing some of the basic concepts around crypto and specifically ReddCoin. We encourage our users to view these videos if they’ve missed them live, and we will continue to produce them as a team educational resource each two weeks. Suggested topics are welcome, as are informed guest speakers. Our goal is simply to make accessible as much of the basic and core knowledge of cryptocurrency, blockchain and ReddCoin as we can, for free, for anyone who wishes to learn. Ultimately we hope to enable the real underlying mechanism that drove ReddAcademy to become a thing, actually paying students in RDD to watch, learn, and earn for doing so. That will be part of the evolution of ReddAcademy as we are able to bring to reality.

Current ReddAcademy recorded episodes are available on ReddCoin and Project Redd YouTube channels.

ReddCoin Ecosystem Development

The Core project team has always worked as a strategic goal to ensure that RDD is easily obtainable, listed on popular markets, and integrated wherever it seems a fit. Sometimes that has involved payments to other entities, sometimes such things have taken place for free as part of cryptosphere building, and as a consequence of ReddCoin’s longstanding history in the space. We have made some positive steps in this over time as well as lost ground, but we continue to expand and improve our ability to use RDD as it ought to be, and to buy or sell into fiat as easily as possible to enable that utility.

To that topic, we have the following exchange related and ecosystem updates:

→ bitcoin.com — Took a $40K payment for listing, changed their name to FMFW.io and subsequently delisted us for little-to-no volume.

→ bitmart.com—Took a $25K listing payment from us and is PRESENTLY demanding that liquidity improve or RDD shall be delisted. In the interim, it is BitMart’s policy to hide under-performing pairs from their API, so our pairs on BitMart may vanish from Coinmarketcap. (More on this topic of projects providing trading support later.)

→ satodax.net — As a small but up-and-coming exchange, listed RDD with three pairs, (DOGE, BTC, TRX) for free with the intent of growing together as part of the real crypto ecosystem. This is how it ought to be done in our space, and we encourage ReddHeads to visit satodax and support their efforts. https://www.satodax.net/trading/rdddoge

→ kolbit.org — Approached RDD and a number of other teams with a free listing offer, connected to their own ICO and coin sale. Research into this not-yet-launched exchange showed a number of red flags (no KYC, encouraging users to use VPNs, etc), and we cautioned the ReddHead community about blindly diving into such platforms. Sure enough, immediately prior to their stated launch, it appears kolbit.org and their paid marketing folks deleted their messaging and channels and pulled a classic “exit scam”, taking users’ money. We suggest anyone who did engage with them follow up with local law enforcement as appropriate, as such actions absolutely deserve pursuit. As always, “Do Your Own Research” and ask all the questions.

Payment Gateways: https://gourl.io/reddcoin-payment-gateway-api.html has existed for as long as we can remember; still operational and able to provide RDD-enabled webshop and other services, definitely worth checking out.

forgingblock.io is another trustworthy payment gateeway to build out RDD connectivity to your sites and shops. Quick video here, or visit their site for documentation and RDD-enable your shop today: https://www.reddit.com/r/reddCoin/comments/qyc0zj/forgingblock_gives_you_the_possibility_of/

News: The ReddCoin team has been validated on CoinMarketCap’s self-reporting portal and will be publishing news and updates through that channel as well.

News: ReddCoin has figured prominently in https://evai.io top listed coins, based on AI and informational analysis rather than simply price/amrketcap. As a mark of pride, that’s great, but it also highlights that objectively, our project seems to be hitting many of the important technical markers, and that’s equally important.

Explorer: https://rddblockexplorer.com/ has published a new ReddCoin block explorer to provide additional network exploration options.

DeFi:

Explorations of bridged/wrapped/tokenized RDD and extension to DeFi platform offerings continues with a focus on the usability and economic aspects of such actions. More study is required, but steps to test such functionality are underway on multiple chains.

Issues around Exchange Connectivity:

We have received positive offers from additional exchanges across the crypto space. Major strategic goals such as CoinBase and similar “gold” exchanges have not progressed in any meaningful way, but within the “middle space” of exchanges, ReddCoin has had a number of productive conversations leading to listing offers that would be affordable. This is a combined opportunity and risk. At this time, legislation has either been enacted, taking effect, or is begin drafted, depending on the region in question that will very much alter the landscape of cryptocurrency and how projects like ReddCoin are able to succeed. A reference to some of this may be found here, and makes for very informative reading:

Thysse W., “US Crypto Regulation Far More Invasive Than We Thought”(Decentralized Legal System, September 18, 2021), available on: https://decentralizedlegalsystem.com/us-crypto-currency-regulation/

The Most Complete Guide to the FATF Travel Rule for Cryptocurrency

It has long been ReddCoin’s established position that as a utility coin, or what will now be designated as a “digital asset” (as distinct from a “digital asset security”), the engaging of any type of price or market support, liquidity provisioning, “trade book tuning”, or other manipulations of our coin’s value in any way other than organic external trading would be viewed as problematic by emerging legislation and oversight efforts.

As such, as a strategic priority, ReddCoin & Project Redd have stayed far from those activities, have not promoted any concept of price or investment, and have never promised profit or other aspects that would push us into “security token” territory. We have simply tried to develop innate value by building solutions requiring RDD to operate, a true “utility” approach to our work.

As it turns out, that approach seems to have set up our project to pass through much of the sea of impending regulation safely. But it also puts us in a difficult position when attempting to broaden those same exchange and trading integrations, especially when those platforms demand that our project/team “provide liquidity”, or other market-related activities. We cannot, internally to our project, do so safely.

It has become a bit of a catch-22 and prevented us from acting on some exchange listing offers and other integrations. It is a similar challenge for any and all small genuine crypto projects, and it was in that spirit of shared challenge that we are quite pleased to announce a possible solution. Whether it will work in the way that we expect is yet to be determined, but it appears to be a potential win/win/win for all parties involved.

The “Altcoin Reserve”

As of the date of this publication, a combined and federated effort has been created to achieve a number of goals for projects such as ReddCoin; legacy, compliant non-ICO coin projects actually working to solve genuine problems and use cases, or with other intrinsic value. This effort has been named the “Altcoin Reserve” and can be viewed as it is presently being announced at altcoinreserve.org.

In short, the Reserve plans to build a Board of Governors from trusted members and devs from each of the invited “charter” project list, a group of 18 altcoins each selected specifically for their history, reputation, achievements, and potential, and will hopefully expand to more teams as it begins to operate.

The Altcoin Reserve will be selling a cryptocurrency of it’s own, BTCQ (“Bitcoin Quorum”), in exchange for each of the native coins of the teams involved at a defined “true value” purchase price, and each altcoin member team will receive an allocation of the BTCQ coins for their community, in the amount of approximately US $5M. For all funds raised in this manner (perpetually), the altcoin teams themselves will receive 80% of proceeds to put toward a treasury or dev needs. The receiving wallets in this sale will be held by each altcoin project team for transparency, and 20% of the proceeds will be returned to the Altcoin Reserve for use in liquidity provisioning or other financial and market-related activities for each coin as may be deemed appropriate by the Board of Governors.

This alone would provide anywhere from a small amount of funding to a project-enabling windfall directly from each coin’s community, using BTCQ as a tool of exchange to enable it. As the underlying crypto and all member coins will be integrated into a Reserve-owned and operated exchange in Feb 2022, enabling additional trading access, and a collectively owned resource for all engaged teams, it seems very obvious that if a coin team is compliant, they will be able to join our Altcoin Reserve and benefit from those aspects.

In addition, the Reserve intends to act to research, vet, and approve potential partners, wallets, and other parts of the crypto space to establish a sort of “Reserve Seal of Approval” that might extend a bit of trust and safety to the users of platforms and partners. (Such a program would lend itself nicely to being implented with NFTs to prove membership, along with lots of other ideas that have come up in discussion.)

Actual development of BTCQ as the underlying cryptocurrency will also be a function of the Reserve, and as such, the concepts of security, network robustness, a plan to fork/convert to a Proof-of-Stake model from the at-launch PoW, and the actual mechanics of operating and supporting a valid cryptocurrency are all currently an equal priority of discussion.

As ReddCoin has committed to joining the Reserve and has tried to help shape some of its plans and policies to better fit the cryptospace, we encourage anyone in our ReddHead community, or other places in the cryptosphere to get involved and help make that happen as well.

All details are available for public review on the following websites: altcoinreserve.org, xbitcoinq.com, bitcoinq.io and their other channels as they go through the public launch process. We will refer most questions regarding the topics here to their channels, but likely will also be answering questions in our own ReddHead channels as the Reserve begins to operate.

There are some immensely exciting possibilities here, and as usual, while we want to protect our ReddHeads, we also want us all to succeed, thrive and achieve together. This seems to be a solid embodiment of that spirit, and we salute and endorse the effort, and will be an integral part of it as it moves forward. It appears a number of other project teams feel the same way, so if we can form a Quorum, it’s likely our power as a group of projects and communities will be many times that we can achieve alone. A cornerstone concept of crypto and Redd, of course, and another reason to encourage and make this happen.

Public Engagement:

ReddCoin has made efforts to promote the actions of groups like FightForTheFuture and CoinCenter as advocates for the greater crypto community and allies against some of the legislative efforts. Driving campaisgns such as #DontKillCrypto and others to help expose the process that affects all of us in the cryptocurrency space, ReddCoin welcomes groups focusing on such things to engage with us as well as partners or allies in the effort. While it will always be our goal to remain apolitical as a project, as as a global community, such efforts to stifle and limit crypto globally are in fact worthy causes to ally against. It is in that spirit that we do so.

Social Media:

ReddCoin has seen a significant trending growth on almost all of our social media and communication channels. We will be publishing a separate Medium article shortly with details of those channels, expansion of our messaging, and stastics on tipbots, the new ReddNFT series being sold and collected on OpenSea (https://opensea.io/collection/reddcards) , and some of the events we have planned from now into the new year.

ReddCoin will be holding at least one casual holiday party on Dec 17th to simply get together with community members and devs, enjoy a bit of socializing and perhaps some prizes, and share the latest from the Redd team. We hope you’ll join us in our Kumospace virtual event space, https://www.kumospace.com/projectredd for the festivities. Happy Holidays to all!

ReddCoin’s project team, the ReddHead community and Project Redd have accomplished an immense amount, and look forward to finishing out the year with some substantial dev milestones. Stay tuned to this space and our other Redd channels to keep informed and up-to-date!! Let’s #PaintTheWorldRedd!

About Redd

Redd is a global social movement that allows anyone, anywhere, the power to tip, support, donate and fund social causes, independent content creators, and humanitarian programs. The platform utilizes ReddCoin (RDD), a reliable and versatile decentralized cryptocurrency launched in 2014 that allows for seamless payments across borders and social networks. All Redd Partners are expected to adhere to the project’s high standards of openness, accountability, and user experience as we strive to be an example of not only the stated ideals of love, support and inclusion, but also integrity, transparency, and honor.

Feel free to visit us at Redd.Love, Reddcoin.com or email info@reddcoin.com. You can also follow us on YouTube, Twitter and Telegram Love to all of our Reddheads, new and old, and welcome!

ReddCore Dev Update (Q4 2021) was originally published in ProjectRedd on Medium, where people are continuing the conversation by highlighting and responding to this story.

Hey ReddHeads!!

Welcome to our ReddCoin Core dev update for Q3 of 2021. Our last update was put out in May of this year, and much has happened since that time, both in direct strategic accomplishment as well as milestones and changes to ReddCoin’s direction and tactical plans.

We’d like to use this document to bring the community up to date not only with items the team has already completed, but also some of the exciting moves on the horizon for our amazing ReddCoin (RDD) & Project Redd.

We have had some transition in the project team, adding capabilities in some areas while saying goodbye and wishing the best to those members of the team & family that are moving on to other challenges. As an all-volunteer project, our team is made up of some of the most devoted, passionate, caring people in the crypto space, and each member of our team is a valued and trusted asset, and of course, member of our extended “Redd” family.

We welcome new members, who want to collaborate and build with us, and we hope the experience and knowledge gained for joining the team allows for each and every member to grow and become better for it, as each of us has. If in reading this update, you want to honor your desire to join in and help create the technology and society of the future, please don’t hesitate to contact a Redd team member or just email info@reddcoin.com!

Redd has had opportunities to share our philosophy as well as technology by engaging in events at DEFCON29, the world-famous security and hacker conference in Las Vegas, guest lecturing at Columbia University, speaking to groups from local Meetups to Stockholm’s Rotary International. With each interaction, more eager users understand not only what cryptocurrency and blockchain are, and how they might be used, but importantly, how ReddCoin and Project Redd are different, and why that matters.

While ReddCoin (RDD) will, according to all current plans, remain a “native blockchain” cryptocurrency project, it has become obvious that building bridges to some of the other crypto platforms, services, and offerings, especially those in the DeFi space, may be of great benefit to our own Redd ecosystem and the possibilities that the use of RDD will allow.

We have also begun exploring a new avenue of decentralized data-sharing and integration of our RDD cryptocurrency into not just existing systems, but new complexes of systems being built. To that end, we’ve begun exploring two new structures/ecosystems for our tipping/micro-transaction technology. For many in the crypto space, these may be brand new, but they have been evolving in a fascinating and complex manner separately while our industry has built payment and value systems, these systems have evolved to share data in the same manner.

For example, “ActivityPub”, and the “Fediverse”. Our technology and these approaches to social interaction make for a very interesting combination, and we will be talking extensively about these moves in future video chats and AMA events. For the moment, here are some informative links that may spark not only new ideas, but perhaps a desire from some of you to dive into what we’re trying to do and help us all do it.

We will continue to build our ReddMobile solution to cover the typically popular “commercial” social networks”, but are also moving to support a universal standard to interoperate with these newer decentralized, distributed systems, to accommodate the truth of users moving away from the “major” networks even as new users arrive there. We’re very excited about what ActivityPub support and integration with ReddID for self-determined and self-controlled financial aspects will become in the increasingly widespread options emerging in the “next wave” future of the internet.

• https://en.wikipedia.org/wiki/ActivityPub
• https://fediverse.party/
• https://blog.joinmastodon.org/2018/06/why-activitypub-is-the-future/
• https://homehack.nl/activitypub-the-secret-weapon-of-the-fediverse/

Building software is complex, finicky, detail-oriented, time-intensive work, so the more talent, hands and brains we have to apply to these problems, the better we will be able to meet the challenge and build cool solutions. We welcome new blood and fresh eyes to offer different views of our work and absolutely mean it when we say, all ReddHeads are needed, come and join us!

Technical

• Development focus on ReddMobile (Android/iOS mobile device wallet & tipping app). Work continues. We are on track for a very limited release in tandem with our upcoming event, as long as the two app stores cooperate and approve in a timely fashion.
• Development focus on ReddCoin Core — Wallet upgrade in progress from 3.10.3 -> 4.21.0b including and incorporating BTC 0.21 codebase features. That is a jump of more than 11 release versions of Bitcoin Core, and incorporates almost five years of ongoing work to improve, secure and enhance the Core code.

See our upcoming technically detailed article for features, performance, security and other enhancements expected in this work. Redd Core v4.21.x will need to undergo extensive testing of both UX, performance and security, and likely will not release before end of year 2021 due to the work involved in mapping and testing advanced features and incorporating into our feature roadmap.

• ReddShare (What Is ReddShare? )
  Redd’s own home-built and supported nano-influencer, micro-promotion platform; earn RDD from home with no middleman or fees. Inspired by a specific dreamer’s idea, meant to boost the dreams and raise the visibility of all artists, no matter how many fans they have, using cryptocurrency (RDD, specifically) for the real reasons it was invented.

ReddShare is presently being improved to ReddShare2.0 with analytics, additional social networks and more features. In the first 6 weeks of operation, ReddShare served event information to over 3,000,000 sets of eyeballs at a combined cost of under $500.00. The normal industry rate for such promotion usually begins in the four or five figures for such reach. We look forward to making live analytics available as the ReddShare platform continues to grow and improve.

• Ledger (Hardware wallet) integration, app build, testing and release — ~40% complete
• Rosetta API/Coinbase gateway connectivity (including “Reddcoinification” of Rosetta) — Project defined and assigned to contract developer talent. Awaiting completion repot and testing/acceptance.
• PoSVv2 Staking Calculator 2021 upgrade (original version available at https://agroff.github.io/posv/ )
• DeFi gateway/swap project — Code requirements defined and in place, initial contact discussions with both MATIC, and ETH solution/platforms underway. Currently reviewing non-technical and tokenomics/economic aspects. It is our view that allowing cross-chain connectivity to the popular chain ecosystems allows a vast increase in the ability of RDD to be used in many different scenarios. The complexity of arranging such a radical upgrade to the RDD ecosystem itself requires more and extensive study.
• Discussion underway with Plaid regarding a direct fiat-to-crypto gateway for RDD. We do not yet have any agreement or understanding of the requirements, but this would be a huge step for our ecosystem, so we’re pursuing it; if not now, certainly in the future. Of course, we hope sooner rather than later, as a direct on- and off-ramp from RDD to fiat/cash is critical to our growth and development.
• Nuvei integration — working with their internal team to establish documentation and process of their support at Point-Of-Sale for RDD.
• Redd Roadmap updated on https://redd.love , now also displayed on https://reddcoin.com. Roadmap will need further work to include some items in this document due to dynamic nature of progress. Roadmap is not intended as a time/date commitment, but indicative of activity and strategy.
• RDD tipping on Twitch has gone live! RDD-capable tipping bots now active on Twitter, Twitch, Reddit, Telegram, Discord and others. Tipbot functionality will be wrapped into mobile app ReddMobile for easier use and tip actions.
• ReddCoin (RDD) included in emerging AntumID “password-less login” blockchain authentication. SolarBridge Device + MySolarBridge Platform Account integration using Antum and your ReddCoin wallet address. https://twitter.com/ANTUMID/status/1432243549207240706
• · ReddCoin included in Neblio’s NFT and “Virtual Economy Framework” http://veframework.com/

Also, two new RDD faucets sites have gone live; visit https://earnredd.com for a great list of ways to earn and obtain RDD!

Network Statistics

Multiplier has remained around 1.9–2.0. Current staking is at approximately 1/3 (33%) of our overall network, or a total of approximately 10.5Billion RDD being used to secure and validate the ReddCoin network.

Team/Staffing

We have added a number of roles to the project team:

• Dedicated public relations/press outreach role
• Dedicated marketing/advertising role
• Addition of dedicated blockchain dev (contract) for required Core work
• We are still very much looking for additional volunteer staff, especially in accounting/bookkeeping and project management, among other specific needs.
• Others. We’re a growing fintech startup. If you know how to build software, websites, or anything else meaningful, organize the work or brainstorm new ideas, we want you to help!

Financial/Trading

ReddCoin has reached $200M market capitalization; currently at $100M following price drawdown.

• It has been just over one year since PoSVv2 activated, providing a minimum of funding (~5M RDD/month) to provide for routine support bills, infrastructure and development costs. A full accounting is being prepared looking back at the year in review (July ’20-July ’21) and how funds have been allocated which should be published shortly. Our wallet addresses and status of our larger donors (and repayments) is available at https://redd.love/funding
• In summary, approximately 67M RDD has been generated since activation, which has been used for community giveaways, routine bills and services, hosted email and cloud services, exchange listing fees, marketing and press release publication, and other typically overlooked but necessary costs.
• Ranked as highly as #29 overall on new EVAI.IO independent crypto rating platform.
• Paid for and listed on new exchange: BitMart, www.bitmart.com
• Paid for and listed on Bitcom.com’s exchange: https://exchange.bitcoin.com
• Relisted on https://swapzone.io
• Delisted from Upbit.com (for reasons not fully justified to Redd team)
• Delisted from bitvavo.nl

We continue to work towards additional listings, especially dealing with the aspect of custody providers which tend to act as gatekeepers for certain exchange listings. At this time, no major developments to report, but we will report to the community as conversations turn into possible listings, of course. One note, we do have a resource working to complete the Rosetta-API work required for Coinbase integration. We will be further pursuing that as a key strategic goal as soon as the required code is in place and accepted.

Community

Our primary website at www.reddcoin.com has gone live with new branding, a central reference/knowledgebase site, links to our help and support systems and all the ReddCoin information ReddHeads demand! Yay!!

Huge thanks to the web team led by Michael K for getting this done and putting all in the time required. Have a suggestion for something that should be on our site, a new web app or page, or a submission for our knowledgebase or wiki? Step up and let us know!

Or click “help” on the website and just send a message!

Launch of new comprehensive help portal located at https://help.reddcoin.com along with help@reddcoin.com email support. Search our knowledge base for step-by-step common walkthroughs, get one-on-one help from our technical team or TechAdept directly.

It’s our goal to make sure that each and every ReddHead who requires assistance, or needs something explained, has a resource in the community that is trustable, knowledgeable and safe to rely on. That is what our helpdesk is, and according the metrics, we have helped an immense number of ReddHeads, which is truly awe-inspiring.

• Effort in this area has been driven by Yavuz Selim among others and is a key piece of our community. If any of you feel you can help in this role, or any others, please let any of the team members know. Helping others new to the crypto space, especially when their funds are on the line, is a critical and key piece of what makes our Redd community the amazingly supportive and authentic space that it is, and we’d like to not only thank all of those providing support to their fellow ReddHeads in all of our channels, but to even encourage more of that activity. Read our knowledgebase, suggest changes or new articles, let us know what’s missing.
• Get engaged in the process and help the next round of ReddHeads take their place and expand our community, learning about all of this new and confusing technology and terms. We all can help, why not you?

Redd sponsored our first MMA fighter as a member of the ReddHead community; Malcolm Gordon, @MALCOLM_X_MMA.

Malcolm won his fight and is using our sponsorship to educate local kids and expand his training and competition ability to continue to make a name for himself and support those around him, as a true ReddHead does.

Participated in https://blockchainvillage.net as the first cryptocurrency project to launch the new “Educational Track” with a custom-built Capture-The-Flag contest exposing ReddID and our name registration systems to the hacker/cybersecurity community at DEFCON29.

• A first for the crypto/blockchain community, and a hugely successful event, Redd has already been invited back for DEFCON30 in 2022 and other related events being scheduled in the near future!
• Gnasher & TechAdept on video presenting the DEFCON29 blockchainvillage.net CTF with our ReddID technology stack: https://www.youtube.com/watch?v=uqVtQyOWHls

@reddcoin Twitter (https://twitter.com/@reddcoin) passes 70,000 followers!

Reddcoin Telegram (https://t.me/ReddcoinOfficial) at almost 5000 users!

As part of our ReddCoin social contract, our team mandate is to give away a proportion of our funds to the community and to charity events and support.

A fully detailed report will be completed soon on the financial aspects of our operations to include all of that activity holistically, but as a summary, our social media team held 32 separate giveaway events!

Focused around learning and engagement in the Redd space, exploring our ReddBook and ReddPaper as well as other resources and platforms in order to participate…

32 events, in which almost 200,000 RDD was given away to 160 lucky winners. It’s great to be a Reddhead!!

Be sure to visit our Community ReddHead chat & social channels (expanded and listed at): https://wiki.reddcoin.com/Community

We’ve held two separate video Dev AMA’s using our main Telegram chatroom (archived here: https://youtu.be/b1kPzjA6D18 and here https://twitter.com/reddcoin/status/1429198225018339328

ReddCoin (RDD) was invited to exhibit at CoinFestUK in November 2021, which we’ll definitely be attending.

CliniClowns (www.cliniclowns.nl) was the chosen charity in the ReddCoin Dutch community, with some real Reddhead community outreach to identify and support great nonprofits doing “Redd” kind of work. https://twitter.com/reddcoin/status/1431637404247642115

ReddCoin on Twitter: "@CliniClowns Congratulations! You're the #winners of the first monthly #ReddCoin #charity run.$RDD will be collected until the last day of #September.Everyone can send $RDD :Reypzzb69oom3EDc1iHNSYmVtMP11gHhHcWallet livestream on: https://t.co/Zvf871Jhx1@reddcoin https://t.co/lr8elCcvaY / Twitter"

@CliniClowns Congratulations! You're the #winners of the first monthly #ReddCoin #charity run.$RDD will be collected until the last day of #September.Everyone can send $RDD :Reypzzb69oom3EDc1iHNSYmVtMP11gHhHcWallet livestream on: https://t.co/Zvf871Jhx1@reddcoin https://t.co/lr8elCcvaY

ReddCoin is working with crypto industry advocates like https://FightFortheFuture.org on #dontkillcrypto hashtag campaign to prevent industry regulatory overreach and share “human aspects” of blockchain and crypto with those outside the cryptosphere. Campaign drove more than 35K calls to lawmakers in the USA regarding recent overwhelmingly destructive regulatory language. We will be dedicating a section on the reddcoin.com website to such partner organizations in order to encourage our Reddheads and those new to the space to support the groups doing good work for all of us here in crypto.

• @blockchainassn — industry trade association
• @coincenter — independent nonprofit think tank
• @fightfortheftr — digital rights advocacy
• @eff — digital rights advocacy
• @fund_defi — DeFi education & defense

ReddCoin issued first team-issued participation NFTs, first for winners of Capture-The-Flag contest at DEFCON29, and then for regular contest winners. Our top placements in the contest were: 1st — goose 2nd — iphelix 3rd — gabrieledeluca (and iphelix, if you’re reading this, please check your email. J)

We will be embracing the application of NFTs as they both enhance our ReddHead community and provide new functionality to incorporate and strive for in the ReddCoin ecosystem. While ReddCoin does NOT natively support the complex NFTs that are currently popular, the concept of a true “Non-Fungible Token” does apply both to ReddID names as well as potential future functionality available by incorporation of newer BTC codebase and sidechains. It is an exciting area of development that Redd is currently attempting to use where appropriate without succumbing to the hype.

Second ReddCoin history book released by C Thompson, available here at Amazon: https://www.amazon.com/Redd-Powered-Reddcoin-Introductory-2014-2020/dp/B08NVVWB9J/

Redd - Powered By Reddcoin (An Introductory Project Redd History Book 2014-2020)

• Branding updated at redd.love/brand/
• https://Shop.reddcoin.com merchandise store goes live!
• https://Exchange.reddcoin.com (powered by instaswap.io) goes live!
• Weekly promotional giveaways — RDD!
• RDD available on AirCoins app
• CREX24 RDD faucet goes live — http://t.co/6sUK8Fgwov
• ReddJamm Radio currently on hold and reorganizing.
• TechAdept visits with the WeGotNext podcast crew: https://www.reddit.com/r/reddCoin/comments/pfxytx/reddcoin_techadeptrdd_visits_we_gotnext_podcast/

Expansion of active community engagement into Reddcoin Spanish. Credit to our Spanish admins https://twitter.com/ReddCoinSpanish Spanish channel growth:

• Telegram 27%, Facebook 74%, Instagram 69%, Twitter 70%, TikTok 79%

Redd has inspired ReddHeads from Kansas City to Calgary, from Venezuela to Vietnam to act. We are using RDD to change lives in a real way. Bakery shops, education, hackathons and seminars, contests and giveaways, all small ways to share RDD, spread the Redd philosophy, and make those in our lives smile!

Subsidized by Redd dev funds, enabled by the hearts and passions of ReddHeads on the ground & around the world. If you don’t get how that works, ask us; if you do get it, go out and act. Each little action to generate good in someone’s day will echo and reverb throughout our social sphere and multiply exponentially.

Change the world, even if it only starts with a kind word and a smile, or a gift of a few RDD and some knowledge. The important parts of what we do as a community is right there, not just in the technological space, but in the real world, a cascading, unstoppable power, enabled by each and every ReddHead.

From one of the Reddheads doing notable work (@sebastianbur1) : “your donations filled a bag with rice, beans, pasta, milk powder and even cookies”. Simple… and so powerful. Who’s going to step up next and bring the power of Redd Love to those around you?

Redd has worked to expand our community philanthropic outreach, into South America, Africa, Vietnam, Turkey and elsewhere around the globe. Each little act grows our community, expands our reputation and speaks to what Redd is about. Let’s do more, shall we?

We’ve expanded our social active community to include Indonesia, chat rooms in Arabic and Hebrew, and more! Want to start a Redd chat channel or meetup? All it takes is a motivated ReddHead!

Press Mentions

https://www.thestreet.com/latest-news/crypto-conversation-with-reddcoin-it-pays-to-be-social

https://finance.yahoo.com/news/reddcoin-leads-defcon29-blockchain-village-154500105.html

https://www.republicworld.com/technology-news/other-tech-news/reddcoin-price-prediction-should-you-be-investing-in-reddcoin-crypto.html

https://cointelegraph.com/news/payments-firm-nuvei-launches-support-for-40-cryptos-including-reddcoin-and-doge

https://www.birminghammail.co.uk/news/uk-news/john-mcafee-how-eccentric-entrepreneur-20890324

ReddCoin (RDD): fooi geven op social media

To summarize, it has been an immensely productive half year for ReddCoin, both visibly and behind-the-scenes. Some personnel on the Redd team have changed, but our mission and vision remain focused on not just solving the technical problems of distributed, decentralized tipping and transfer of value, but also the larger questions of how to make Redd well-known, well-understood, and well-connected.

As usual, we ask for any ReddHeads that feel you can add to what we’re doing, just to simply reach out. You don’t need to be a technical genius, as you may see from the work documented above, all sorts of tasks and plans and skills are needed to get Redd accelerating into the future, and that starts not just with the Core Dev team, but with each one of you ReddHeads.

Become an Ambassador, be a channel admin, create content (we especially need more writers and artists!) or yes, definitely coders and web folks and full stack developers and hard-core blockchain weirdoes; we want all of you!

Together, we can Paint The World Redd!

About Redd

Redd is a global social movement that allows anyone, anywhere, the power to tip, support, donate and fund social causes, independent content creators, and humanitarian programs. The platform utilizes ReddCoin (RDD), a reliable and versatile decentralized cryptocurrency launched in 2014 that allows for seamless payments across borders and social networks. All Redd Partners are expected to adhere to the project’s high standards of openness, accountability, and user experience as we strive to be an example of not only the stated ideals of love, support and inclusion, but also integrity, transparency, and honor.

Feel free to visit us at Redd.Love, Reddcoin.com or email info@reddcoin.com. You can also follow us on YouTube, Twitter and Telegram Love to all of our Reddheads, new and old, and welcome!

ReddCore Dev Update (Q3 2021) was originally published in ProjectRedd on Medium, where people are continuing the conversation by highlighting and responding to this story.

Hey, ReddHeads!
It’s amazing how quickly time passes in the crypto space, and Redd Core is thrilled to be able to report our progress through the last few months.

Observant ReddHeads have already noticed that our ReddMap located at https://redd.love/roadmap/ has been updated to reflect current project progress and priorities here in ReddLand.

While much of our efforts have taken longer than anticipated, as usual, the ReddMap reflects our work toward not only a prettier, stabler core wallet and staking experience, but also our direction in building free, user-focused apps like ReddShare.

ReddShare

Just awaiting final approval of the way we’ve chosen to access the various networks’ APIs, ReddShare is our first publicly launched Redd-branded app, and is free for all users, whether you’re promoting your own content or sharing band and concert info to earn RDD.

General Redd Updates

Our Redd social channels have exploded in popularity and user engagement over the last few months, a testament to both the work being done to move products and the ReddCoin network itself forward, but also to a talented social media team working overtime to ensure all ReddHeads are seen, heard and included in all we’re doing.

If you want to help, or feel you should be a Redd Ambassador or team member, let us know, reach out to a Redd Core member and just ask. Every member of the Redd family has joined by having a conversation and sharing what they can do and why, and we’ve only grown more amazingly capable with every new member of the Core family. Why not let that be you? Below see some of the improving social metrics on Redd channels. Feel free to join in on other platforms and be part of the ReddHead community growing everywhere!

We’ve begun a weekly update with a visual and music component that’s gone out every Sunday for the last few months, quite successfully. Our Social Media team has reviewed and reorganized all Redd social channels, and we have started to promote Redd in a more comprehensive way across all of them.

We invite all ReddHeads to explore the various channels and the different communities and groups of ReddHeads in each.

Our professional and close-knit Social Media team gets larger, stronger and more able to broadcast the Redd message and value across the world day by day. The cooperation, love and mutual respect evident in both team and community is a testament to our collective success in this area. Not to mention objectively impressive metrics showing growth and engagement on these channels. The results we’ve observed give us all a strong motivation and sense of inspiration that so much of our true connection to our community goes through our social media and online presence.

We have also noticed that our own ReddHead “extended family” is also strongly actively spreading all Redd news, giveaways and Redd love, and we absolutely encourage and love that!

Remember, each and everyone of you ReddHeads is part of our group success, and represents our community to others. Be kind, be respectful, show your love and care to those online by sharing RDD, and see the amazing results! We are very proud of the fact that our genuine and real ReddHead community is willing to help with these efforts as a mark of support, and welcome any real and genuine ideas that follow the Redd brand of honesty, openness and transparency to promote our awesome project.

If you want to help, we’re waiting for you! Social media graphics and statistics below from our Social Media team with special thanks to Han, Kay and Roni (and Ramon and Diasy on the Redd Spanish channels) for their tireless work to keep updates going out, questions answered, live giveaways, and social channels covered!

Upcoming Events

We will be planning lots more events focused on our tipbots and functionality on various platforms, including Reddit, Twitch, Discord, Telegram, and others. Participate, get involved, and let’s show the world just how social our amazing ReddHead community really is! Giveaways, Redd merchandise, RDD, and more!

ReddJamm Radio

In more tangible news, we’re excited to be launching ReddJamm Radio, the Redd-sponsored internet radio station combining crypto topics, indie music, interesting podcasts and guests and more.

If you’re an artist, and you want your music played, there’s no cost and no obligation other than allowing the ReddJamm staff to help air and link your music, your brand and your talent to the Redd community and the larger world beyond! Special thanks to Doug and Levi for spearheading that effort, and going above and beyond to build something special for everyone involved.

ReddStore

Our Redd merch store is just about to launch publicly, so ReddHeads, wear the logo proudly and share with those who ask, what it means to be “in Redd”, and how easy and rewarding a community like this can change the world. And then give them some RDD.

We’ve also built a privately accessed portal for the same merch so that our Ambassadors around the globe can access Redd branded apparel and products for building local communities, so if you’d like to set something up, or want to join the Redd Ambassador group sharing the beauty and value of Redd and what it means, that’s another way we’ve created to enable that mission. We’ll be hosting some giveaways and will publish the direct links to the new merch store in coming days. We’re also working toward a seamless “use your crypto to buy merch” experience, which hasn’t yet gone live, but will follow initial launch pretty quickly.

Instaswap & Exchanges

We also wanted to mention and highlight that our Instaswap-powered https://exchange.reddcoin.com swap and buy widget continues to improve and we’ve confirmed that at least some fiat direct buy pairs are in operation. Buy for AUD or GBP direct from your debit/credit card to fund your RDD wallet. More fiat pairs, crypto pairs, and direct sell abilities coming through https://instaswap.io!

Our highly anticipated https://exchange.Bitcoin.com RDD/BTC trading pair has been tentatively scheduled for mid-to-end of May, and will allow further options for purchase and liquidity, with more options coming online every day. If ReddHeads have specific exchanges, wallets, platforms, or other integrations you’d like to see, just let us know at info@reddcoin.com. If you have a problem or you see an issue with any of these same platforms, please also feel free to reach out and let us know.

It takes all of us working together to keep the Redd ecosystem up to date with good information and proper links, and we need all ReddHeads to help in these efforts.

Repaying Our Donors

Finally, in a nod, thank you and virtual hugs to those ReddHeads who have offered the team and our projects a hand when we really needed it in the past, we’ll be stepping up our efforts to repay remaining donors as noted in https://redd.love/funding by allocating a slightly larger percentage of our PoSVv2 funding to that purpose, Those involved have seen the proposed scheduling and we simply wanted to acknowledge that publicly.

Our donors have been patient as we’ve continued to work through the years, and of course have been as we always promised, we have continued to honor our commitment to pay back every RDD donated from that group. We will also be offering some special merch in our new store to these same folks as a simple way of noting their special place in the ReddCoin world. We’ll also be issuing a summary financial report on PoSVv2 funds and how they’ve been used to date to offer more transparency and insight into what it has taken, and what it will take in the future to operate, maintain and grow our awesome, unique ReddCoin (RDD) project into something amazing.

RIP Sporklin 🙏

One last note, a personal addition from TechAdept: This update is dedicated to the memory of a special unique crypto dev and friend who the crypto community and Doge project has recently lost, Sporklin, and who will be sincerely missed. May the results and efforts of her work, care and love for the entire crypto community echo through devs in all projects and serve to guide all toward a true and enduring crypto ethic of community, light and truth. And may we all strive to be such examples of care and giving, ourselves, as we do all that we do, in crypto and in life.

About Redd

Redd is a global social movement that allows anyone, anywhere, the power to tip, support, donate and fund social causes, independent content creators, and humanitarian programs. The platform utilizes ReddCoin (RDD), a reliable and versatile decentralized cryptocurrency launched in 2014 that allows for seamless payments across borders and social networks. All Redd Partners are expected to adhere to the project’s high standards of openness, accountability, and user experience as we strive to be an example of not only the stated ideals of love, support and inclusion, but also integrity, transparency, and honor.

Feel free to visit us at Redd.Love, Reddcoin.com or email info@reddcoin.com. You can also follow us on YouTube, Twitter and Telegram Love to all of our Reddheads, new and old, and welcome!

ReddCore Dev Update (May 2021) — ReddMap 2021, ReddJamm, ReddShare and more! was originally published in ProjectRedd on Medium, where people are continuing the conversation by highlighting and responding to this story.

Hey, ReddHeads!

We have some announcements to share with the Redd Community following our recent Conference and exposure of some of the work underway.

ReddShare

ReddShare dev work continues as planned, with some limited backend work to complete and a bit of adjustment to the flow and “User Experience” aspects, we expect to be allowing user signup and full system use within the next couple weeks. We’ve gotten many requests already to be part of the launch as well as feature requests about using the ReddShare platform to target other segments and audiences than just music & bands.

Of course, that’s our natural evolution of the product, a simple digital feeless payment system to enable micro-work and we see that there are countless fields and industries in which that might apply, from video promotion to yoga studios to individual artists growing their fan-base, and all of that is available as the ReddShare app grows.

We’ve backed up our construction of the app with cloud products allowing the app to scale, but have tried hard to maintain our ideals of minimal data capture and user-first priorities. We are attempting to figure out how to leverage RDD staking to provide a further bonus mechanism to the platform, or otherwise pay for its own promotion by funding campaigns with stake rewards, but much of that will be revealed during and post-launch. We look forward to further ideas and feedback from the community, and if you’d like to contribute to the actual work, please let the Core dev team know.

ReddMobile (including ReddID features)

For our other key ecosystem app, the key pathway to ReddID features and our ReddMobile app continues to make slow and sometimes sideways progress, but always progress.

The challenge of applying decentralized techniques to a global tipping system requires a combination of techniques that we’ve made progress in envisioning and slow but measurable progress toward building. The social reward/tipping app using what we ReddHeads have come to expect as ReddID, or a “register-it-yourself-and-control-your-own-keys” name system, requires additional blockchain/sidechain design work to fully implement, and will pull together aspects of centralized tipbots that we’ve already begun the process of activating, reactivating and implementing. The challenge is one of decentralizing that and otherwise protecting users.

At present, RDD can be tipped on Twitter, Reddit, Discord, Telegram, and other platform support is being worked on, as well as the modularization and containerization of those components to allow easier code contributions and collaboration as an open-source project at heart. We are also wrestling with the challenge of how to best safeguard any funds stored on each app and system, and have begun strategic conversations with custody providers and other reasonable measures to help address any risk there proactively.

ReddJamm Radio (KRDD)

Springing from a Core team member’s inspiration, ReddJamm Radio (KRDD) showcasing music, content and talk from up-and-coming musicians, bands, members of the crypto space, the Redd Core and Ambassadors and more.

As an advertising-free distribution mechanism for those promoting on ReddShare which doesn’t require advertising support or data mining, and with other integral connections to the Redd ecosystem of products and people, ReddJamm Radio and Podcast is going to enable far broader access for the uniquely user-curated and ReddHead-recommended entertainment the world has been missing! Or perhaps something slightly less world-changing, but still very informative. We have high hopes and broad dreams, and again, being part of the effort is literally just deciding and asking to join. We’re just learning here ourselves, so feel free to help out!

On-website & in-app RDD buy/sell/swap through instaswap.io

One of Redd’s partners, Instaswap has expanded their services and improved their connectivity to transition toward becoming a more fully-featured exchange. Today, we’d like to announce the (near-)availability of buying/selling/swapping to and from RDD directly on one of Redd’s own websites.

Provided as a convenient option if not always the cheapest method, we expect that exchange.reddcoin.com will be live in the next few days to service ReddHead swap needs, and in an expected 3 weeks, fiat purchase should also be enabled. We are working on making the process of buying and selling RDD to use our tipbots and upcoming systems like ReddShare as easy and trustworthy as possible, and we believe this is another step towards that goal. We’ll be announcing that separately, along with how to access that service through our sites, in a few days as soon as testing is complete.

ReddCoin (RDD) Exchange Crowdfund Pt 2 — bitcoin.com

The Next Stage in the ReddCoin (RDD)’s Market Evolution
At the end of last year, ReddCore announced our Exchange Crowdfund efforts (https://medium.com/projectredd/reddhead-community-outreach-reddcoin-rdd-exchange-crowdfund-2020-cc65c0f7c55b) in order to achieve new market listings and broaden RDD’s ability to be bought and sold in all possible regions.

Working together with our ReddHead community, though mostly comprised of PoSVv2 funds, we were able to successfully negotiate and gain two new listed pairs on a new up-and-coming exchange platform, BitMart.com. Though they had some initial problems establishing their data feed to the rest of the world, trading is normalizing there and adding to the availability and access that our ecosystem needs.

To go further down that road, we have established a pipeline of possible listings, each with benefits or drawbacks and challenges, and mostly reasonable costs, that we are continuing to execute on as previously reported, but sometimes an opportunity comes up that merits special attention. We have such an opportunity.

The team at bitcoin.com has extended Redd an offer to be listed and have RDD integrated on their platform exchange.bitcoin.com and to provide the basis for further integration with their products, as well as endorsement as a thriving project in the cryptosphere with our extended history and achievements. This offer comes with a 40K USD price tag, and would be expected to be implemented immediately after payment, meaning a go-live within a month. The listing does not include integration into their wallet product yet, or other items, as they will require further cost, but it does allow us that option as we are able to afford such things if strategically appropriate.

We would like to offer the ReddHead community the ability to support this initiative to list with exchange.bitcoin.com by donating to our “crowdfund address” with the idea that at least half (and likely more) of required funds will be provided by ReddCoin Core’s PoSVv2 protocol directly. We would like to open the donations for a week and match all donated funds to see if we can get to our collective goal without depleting internal funds fully. If sufficient donations are not available, we will simply continue to add PoSVv2 funds as possible over time to reach our target. Donations may be made in Telegram by using the “/crowdfund” command with our tipbot, or sent directly to

RqQ4qnJCAcqxPqsvMtyJx73eyVyWtpjN73.

At time of writing, there is currently ~168K RDD in the fund, or a starting point of just under $1000.00.

Redd Conference Post-Event Notes:

As a final note, we want to thank everyone involved in planning and attending our extremely successful Redd Conference & Career Fair on March 13th (video link here: https://www.youtube.com/watch?v=M_pp3-OS1Kc) and look forward to holding more events as often as possible.

We have been working since the event ended to enable translation and subtitling of the content in that video to a number of other languages we know our Reddhead community needs, including Spanish, Korean, Portuguese, Russian, German, and others.

We hope to have all of our material translated the same way as we continue to publish, as Redd is truly a global and multilingual community, and we want to share everything going on as widely as possible. If any ReddHeads want to add their expertise to our language efforts or creative or dev work, please just let one of the team know, we love volunteers! We’ve come up with cool ways to machine translate most of the work, but we need native speakers to confirm and adjust translations to make sure we’re always clear and understandable to all.

#PaintTheWorldRedd

About Redd

Redd is a global social movement that allows anyone, anywhere, the power to tip, support, donate and fund social causes, independent content creators, and humanitarian programs. The platform utilizes ReddCoin (RDD), a reliable and versatile decentralized cryptocurrency launched in 2014 that allows for seamless payments across borders and social networks. All Redd Partners are expected to adhere to the project’s high standards of openness, accountability, and user experience as we strive to be an example of not only the stated ideals of love, support and inclusion, but also integrity, transparency, and honor.

Feel free to visit us at Redd.Love, Reddcoin.com or email info@reddcoin.com. You can also follow us on YouTube, Twitter and Telegram Love to all of our Reddheads, new and old, and welcome!

ReddCore Dev Update (Q1 2021) —Status Update was originally published in ProjectRedd on Medium, where people are continuing the conversation by highlighting and responding to this story.