I thought this was amazing, and I am super excited about it!
Reddcoin core developers today unveil the next-generation social wallet that implements several innovative features not seen in the cryptocurrency world before:
1. Complete redesign of wallet GUI that replaces traditional QT interface
2. The wallet can both work as a local desktop application and operate as a front end that communicates with a daemon running on a remote server
3. The wallet provides various social features including IRC chat for official channel #Reddcoin, /u/reddcoin news feeds, Twitter news feed and official announcement feed.
The social wallet is fully functional on Windows, Linux and Mac OS X and is now in invitation-only beta testing. A public beta testing will start within weeks. More social features are under development and will be introduced in due course.
The social wallet is a central piece in the Reddcoin infrastructure and is designed to work with the proprietary Proof of Stake Velocity (PoSV) algorithm that will soon replace Proof of Work. PoSV was designed by Reddcoin lead developer Larry Ren and published in April in a landmark white paper (
www.reddcoin.com/papers/PoSV.pdf) that has received wide attention among the cryptocurrency communities.
Proof of Stake Velocity is an innovative algorithm that encourages both ownership (Stake) and activity (Velocity). It’s designed to address various flaws in Proof of Work and Proof of Stake from both technical and economic points of view. The white paper also provides the first comprehensive review of the state of economies of cryptocurrencies in general.
Another key piece of the Reddcoin infrastructure is the next-generation tipping platform that will integrate with all social networks and provide the easiest and smoothest user experience for micropayment across those social networks. The platform is under active development and is on track to be unveiled in summer 2014.
Coverage on this release, and the implicationsOriginal Announcement
