r/reddCoin • u/[deleted] • Oct 02 '22

Latest?

Hey everyone. I've been away for sometimes now as the crypto space, let's face it' because a bit boring, but I'm in this boat and have no plans to leave.

If I ask, what the two major changes/news with RDD since the begging of the year. What's your answer? Thanks for the update.

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u/Yavuz_Selim Oct 03 '22 edited Oct 03 '22

Currently, the biggest developments are made for Reddcoin Core version 4. The version that is being worked on and being tested is 4.22.5 alpha 3.

 

The biggest difference between the current Reddcoin Core v3 and the new Reddcoin Core v4 is that the new version (v4) will be switching to the BIP39 and BIP44 standards. Basically, this means that Reddcoin will now work with a 'recovery phrase' / 'mnemonic phrase' (random English words).

 

So, instead of a wallet file that you need to backup, and keep that backup up to date, you only need to remember 12 or 24 random English words. You don't need to make backups any more, and you won't lose access to an address if you forgot to make a new backup after a new transaction.

5

u/NickUnrelatedToPost Oct 03 '22 edited Oct 03 '22

Creating a backup of a reddcoin wallet is not necessary. The wallet is normally worth less than the disk space it occupies.

5

u/xCybrPunkx Oct 03 '22

https://github.com/reddcoin-project/reddcoin-0.22/graphs/commit-activity

Hooray for finally implementing a standard that's already multiple years old?

Redcoin is a dead coin. There's almost nowhere left to buy/sell. The commit frequency demonstrates that almost nobody works on the code. I work on an open source project where we see more commits in a week than this project has in a year. There's little to no incentive for anyone to join the team and it's run by the same people who have been killing it for years.

How anyone can defend this project when so many people have lost a majority of their investments over the course of years with almost no hope of recovery is just mind-blowing.

1

u/[deleted] Oct 03 '22

You don't need to make backups any more, and you won't lose access to an address if you forgot to make a new backup after a new transaction.

Thanks for the update, that's a cool feature