How does Reddcoin's minting algorithm work?

1 answers

• Dec 15, 2021 · 3 years ago
  Reddcoin's minting algorithm, Proof of Stake Velocity (PoSV), is designed to reward users who hold and actively use their coins. The algorithm takes into account the age of the coins and the velocity of transactions to determine the likelihood of minting a new block. This means that users who hold Reddcoin and make frequent transactions have a higher chance of minting new coins. It's a unique approach that encourages both holding and spending of Reddcoin, which helps to create a more vibrant and active community.
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