CannaCoin Whitepaper

Abstract

Abstract
Proof of Stake Velocity (PoSV) is proposed as an alternative to Proof of
Work (PoW) and Proof of Stake (PoS) to secure the peer-to-peer network
and confirm transactions of Reddcoin, a cryptocurrency created specifically
to facilitate social interactions in the digital age. PoSV is designed to
encourage both ownership (Stake) and activity (Velocity) which directly
correspond to the two main functions of Reddcoin as a real currency: store
of value and medium of exchange. Reddcoin can also function as the unit
of account in heterogeneous social context. The technological aspects of
PoSV are presented after a detailed review of existing designs. The economic
aspects of Reddcoin are then analysed. Finally the unique position
of Reddcoin as a digital social currency in the competitive landscape of
cryptocurrencies is discussed.

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CannaCoin Whitepaper

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