ReddCoin (RDD) and Enjin coin (ENJ) are relatively new coins in the market. ReddCoin was initially launched in 2014 while Enjin Coin was launched in 2016. Since the coins are rarely reported on, some people might think the coins are dead. Fortunately, these two coins are still going strong and making breakthroughs under the radar. Enjin is still working towards revolutionizing the virtual goods creation and management through the ENJ token. ReddCoin, on the other hand, is still decentralizing major social media platforms. Reddcoin’s project will allow social media users to be rewarded with RDD for their posts. They can then trade the RDD for products, gift cards, and other items.
Online Gaming vs Social Media
By just defining the coins we can immediately see a major difference. Enjin Coin has something that many cryptocurrencies lack; and indeed ReddCoin, a real product attached to the asset. This technology has been utilized largely by the gaming community, making gaming fun and profitable. Value is based on online gaming ownership, giving gaming assets real value. ReddCoin has no real product or value attached to it, but, the market it’s looking to tap into is huge. It runs on all major social media platforms including Facebook, Twitter, Snapchat and Reddit.
These two coins given one is targeting gamers and the other social media users are poised for a mass adoption. But, ReddCoin looks to be in a better position since social media users are more than gamers. It is also far easier to get someone to use a coin when they are rewarded with it for “posting” or “liking” a post, rather than after finishing an hour’s conquest in gaming. However, due to its active development and the recent boom in the gaming industry, Enjin has already registered over 250,000 gaming communities. It also boasts of over 20 million registered users. The gaming community around the world is active and growing and their loyalty to great projects will ensure that Enjin is ever growing.
Blockchain Technology And Transaction Speed
ReddCoin boasts of being 10 times faster than bitcoin, transactions taking 60 seconds. This is facilitated by the fact that the project uses PoSV which was designed by the team to replace the PoW protocol. By encouraging ownership (stake) and activity (velocity), the team was able to meet the needs of this coin on social media platforms. This has also addressed the issue of mining since the likelihood of finding the next block is higher when you have more RDD stake on your wallet. Compared to the poW protocol, this is cheaper, and importantly energy friendly.
Enjin Coin has developed a specialized off chain solution, Efinity. This solution ensures that transactions are fast, reliable and secure. However, this is not the most impressive feature of the project. Being that the project is designed for gamers, storage has had to have an upper hand in the design. The project has ensured that all valuable items and data is securely stored to ensure no data is ever lost especially if servers are shut down. Additionally, fraudulence is curbed in the network when trading online gaming merchandise.
Right now, Enjin Coin is the largest gaming platform and the project will only get bigger and better over time. ReddCoin, on the other hand, is still struggling with developments and the project is not doing enough to ensure that the coin is widely adopted. Enjin Coin comes up ahead in every aspect both in the short term and the long term. At the time of press, ReddCoin is trading at $0.003518 up by 3% in the last 24 hours, while Enjin Coin is trading at $0.043075 up by 12% in the last 24 hours.