Bringing crypto to the world: Snax and Reddcoin analysis

Narrow use case

Cryptocurrencies have made a lot of headlines last year as a lot of people began trading on Bitcoin, Ethereum and other cryptos as if they were securities. Although crypto tokens can be used as securities, to have general population use crypto it should have more use cases.

Reddcoin has focused on building its token as tips and donations mechanism for social networks. By having a cheap and fast mechanism for making donations to people, using their social accounts as addresses, Reddcoin should achieve solution to this problem. There is one issue that they need to solve — you can only currently send tips to the people who are already registered with the network, and that limits Reddcoin ability for widespread adoption of this feature.

Snax has solved this problem, as you can send SNAX tokens to everyone using their social account names, even if they are not on the Snax network — people will receive their SNAX as soon as they verify their account. This makes Snax a great tool for donations.

Snax provides developers with smart contracts to develop decentralized applications inside the chain. You can think about Snax like a programmable, trustless financial layer over the public social media. Developers working with the social network can save a lot of resources by using Snax financial structure to build games and platforms that monetize social accounts.

For example, if a developer wants to build a game that uses social media accounts and has some in game transactions that allow users to send each other collectables, they can save a lot of time and resources by using SNAX tokens. Snax provides the code basis for the developer to realize their ideas, and bring new use cases to life.

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