Introduction:
The preamble of bitcoin was the commencement of the blockchain uprising, and since then blockchain technology has unrelenting to grow into diverse areas of applicability. Ethereum, the second most popular blockchain in the globe today has revolutionized the entire computing space with its use of the smart contract in consonance with blockchain technology. Red Pill coin is an Ethereum based digital cryptocurrency asset regulated by smart contracts. It belongs to the subset of non-bitcoin cryptocurrencies referred to as Altcoins. Like all cryptocurrencies, it makes use of decentralized circulated ledger framework in the form of blockchain technology, in this case, the Ethereum blockchain.
It is a peer-to-peer cryptocurrency which runs impeccably on the Ethereum blockchain network and is like-minded with numerous cryptocurrency wallets. There is no vital control over dealings involving Red Pill coins thus giving Red Pill users greater control and the ability to use their funds secretly. Red Pill thrives on being more than just another cryptocurrency variant but a community of people dedicated to exercising control over their finances. This prominence on the collective nature of Red Pills sets the tone for what will make Red Pill be not only a form of currency for the Red Pill community but also for the Ethereum network and the world wide community as a whole. The 21st century has seen a significant amplify in the evolution towards an exclusively virtual world. Many aspects of human communication are fast leaving the so-called “real plane” into the virtual environment of computers. The fiscal services sector isn’t left out in this revolution as seen by the materialization of cryptocurrencies as means of processing financial transactions. Cryptocurrencies refer to the virtual currencies; digital cash. They are in many ways, the digital counterpart of fiat currency like the US Dollar and the Euro. The name “cryptocurrency” is consequential from the exploitation of cryptography in the process of encrypting financial transactions. By way of designation, cryptocurrencies may be definite as a medium that uses encryption to encrypt (protected) financial transactions.
Immutability:
One of the prevalent selling points of blockchain expertise is its reasonable immutability. This means that dealings once completed and recorded in the blockchain cannot be changed or deleted from the ledger. As the Ethereum blockchain grows in size, this immutability becomes even more assured. Any changes made to pre-existing entries are viewed by the entire blockchain and as such the possibility of lucratively manipulating the system is zero.
Trustless Encryption
Financial transactions can be carried out in a blockchain without the need of a central oversight body providing authentication and authorization. This elimination of the thirdparty significantly reduces risk and associated fees.
Anonymity
Transactions in the blockchain are completely anonymous and as such identities of the participants are completely protected. Users are in complete control of their personal information thus reducing the risk of identity theft.
Enhanced Security
Being decentralized, block chains do not have a central point of failure. There is no entry point for malicious attacks, and this makes block chains durable and reliable.
Technical Implementation:
Red Pill Coin is an ERC20 obedient Token. This means that Red Pill can been stored and traded on practically any podium or wallet that supports the ERC20 standard. The rationale of Red Pill is to support creators, sanction fans, and also serve as a system of wealth management/growth, for those that choose to provide in it. This decision was made calculatingly so that Red Pills could not be walled off into their own closed ecosystem, and would remain accessible across multiple Ethereum platforms.
Stage 1: The first stage of Red Pills technical implementation was the advance of the coin itself. By building the coin ERC20 compliant, it is now able of being stored and traded on multiple platforms.
Stage 2: The second stage of the methodological implementation is the development of a chrome extension and mobile apps, which will allow users to without difficulty store and or send Red Pills to their desired content creators, bloggers.
The extension and apps facility by allowing users to enter an Ethereum address of the creator or person that they want to send funds to, or to investigate for verified users on the platform, that will have, a little checkmark like on YouTube and twitter (next to a verified creators name), verifying that they are the creators/public figures that they claim to be; this will also make it easier for people to quickly send funds.
FOR Further Information Visit
Official Website: https://www.redpillcoin.com/
Whitepaper: https://www.redpillcoin.com/PDF/whitepaper.pdf
ANN Thread: https://bitcointalk.org/index.php?topic=3216283
Official Facebook Page: https://www.facebook.com/redpillcoincrypto
Authorized by
Luckyji