Category: Wallet

Dear fellow Reddheads:

Today we’d like to announce three pieces of news:

  1. next-generation social walletOur young star /u/hoppipoppipolla has been working on our next-gen social wallet for months. It’s the first ever fully functional cryptocurrency wallet that integrates various social features such as IRC chat, news feed, and official announcement. It has been designed to be easily extensible and many more social features, such as music, video, games, will be introduced one by one in coming months. The social wallet enhances user engagement, and along with PoSV, increases network security, and fits right in with Reddcoin’s goal to become the social currency of the digital age.The social wallet enjoys a completely new UI design that makes the traditional QT UI look obsolete. It can act as a local desktop application or work with daemons running on remote servers through encrypted RPC calls. It’s fully functional on Windows, Linux and Mac OS X.

    The social wallet is already being used by Reddcoin developers on a daily basis. Starting from today, everyday we’ll send out invitations to the Top 10 Contributors of the Day to join us in beta testing. In coming weeks, the social wallet will be available to all.

    An online slideshow of the screenshots are available here.

  2. transition to proprietary Proof of Stake Velocity (PoSV)Proof of Stake Velocity is a new and innovative algorithm designed to address the many technical and economic issues of Proof of Work and Proof of Stake.Ever since the publication of our white paper on PoSV, the implementation of PoSV has been progressing very well. We are currently in phase 2 of 3 of internal testing and a public beta will be released in coming weeks.
  3. next-generation social platformThe goal of Reddcoin is to enrich and facilitate human social interactions. Our next-generation social platform is also under active development. Tipping across all social networks will be an important component of the platform but that’s not all. At this stage, we are deliberately very secretive about the details of the platform due to competitive reasons. In summer, you’ll find out more about the big picture and the details.


Reddcoin Core Team

Reddcoin core developers today unveil the next-generation social wallet that implements several innovative features not seen in the cryptocurrency world before:

  1. complete redesign of wallet GUI that replaces traditional QT interface
  2. the wallet can both work as a local desktop application and operate as a front end that communicates with a daemon running on a remote server
  3. the wallet provides various social features including IRC chat for official channel #Reddcoin, /u/reddcoin news feeds, Twitter news feed and official announcement feed.

The social wallet is fully functional on Windows, Linux and Mac OS X and is now in invitation-only beta testing. A public beta testing will start within weeks. More social features are under development and will be introduced in due course.

The screenshots of the social wallet is available at

The social wallet is a central piece in the Reddcoin infrastructure and is designed to work with the proprietary Proof of Stake Velocity (PoSV) algorithm that will soon replace Proof of Work. PoSV was designed by Reddcoin lead developer Larry Ren and published in April in a landmark white paper that has received wide attention among the cryptocurrency communities.

Proof of Stake Velocity is an innovative algorithm that encourages both ownership (Stake) and activity (Velocity). It’s designed to address various flaws in Proof of Work and Proof of Stake from both technical and economic points of view. The white paper also provides the first comprehensive review of the state of economies of cryptocurrencies in general.

Another key piece of the Reddcoin infrastructure is the next-generation social platform that will integrate with all social networks and provide the easiest and smoothest user experience for micropayment and content creation across those social networks. The platform is under active development and is on track to be unveiled in summer 2014.

Dear fellow Reddheads:

We’ve just made a new milestone release of our QT/daemon wallet: version

We highly recommend you all to upgrade due to numerous new features:

  • New splash and about images.
  • New checkpoint.
  • OpenSSL 1.0.1h for the most recent security fix.
  • Better support for DNS seeds for significantly improved network sync speed.
  • Alert broadcast system.
  • New RPC calls.
  • Numerous fixes and improvement from upstream Bitcoin and Litecoin.
  • Bump protocol version to prepare for PoSV.

On Saturday, to celebrate the halving, we are going to unveil our next-generation wallet with details on the invitation-only beta testing. Make sure you check out the subreddit this Saturday!


Reddcoin core team

Dear fellow Reddheads:

Wallet is now officially released. It provides a more accurate estimation of network hashrate and most importantly introduces the new halving schedule:

The first halving will happen at block 140,000, which will be evening 10th May in the US and early morning 11th May in Europe. Afterwards, halving will happen every 50,000 blocks, roughly 35 calendar days.

Absolutely everybody needs to upgrade ASAP! Anyone using old wallet post the first halving will be on the wrong fork and potentially lose coin.

You can download wallet following links on our website, subreddit side-bar or Github.

In coming months we’ll release alpha and beta release of wallet that implements PoSV and will invite volunteers to try out the new minting process on Reddcoin testnet. Stay tuned.

Don’t forget to read our papers on Proof-of-Stake-Velocity:Whitepaper and FAQs.

The original announcement thread of PoSV is here.


Reddcoin core team

Hi all:

I’m releasing a new minor version of Reddcoin wallets which uses the latest OpenSSL 1.0.1g with fix for Heartbleed security bug.

The source code release on github can be found here.

Binaries for different platforms will be provided shortly. However, if you have always used provided binary wallets, most likely you are not exposed so you can afford to wait for a few hours. Don’t panic!

  • I want to build my wallet from the source code release. What should I do?

Make sure your installed OpenSSL is upgraded to 1.0.1g and then compile the wallet as before.

  • Is my wallet compromised? Have I lost coins?

If you are not running the wallet in daemon mode with RPC + TLS, most likely no. All bitcoin + altcoin wallets use OpenSSL for encrypted connection to the built-in RPC server. If you are just a normal user, Heartbleed bug should not affect you.

  • I’m a pool owner / exchange owner / developer, is my wallet compromised?

Yes and no. If you ever query the RPC server in wallet daemon, you should always use its configuration file to specify the short list of IP addresses that are allowed. You should never run your wallet daemon with open RPC port on a public server for everyone to access or attempt to access. In any case, the fix is much more relevant to you and upgrade now.

  • Will there be a fork?

No. Wallet is fully backward-compatible with and 1.1.3.

  • Does every crypto-currency require a fix?

Yes and I’m glad we are one of the very first few coins which have released the wallet fix for Heartbleed.



UPDATE: All binaries (Windows, Linux, Mac) are now available. Use the links in the side bar.

A new version of the Reddcoin wallet is available to download. You will have to delete and redownload the blockchain.

Windows wallet

Mac wallet

Linux wallet

Source code

To update please follow these instructions below:

1) Please make sure you’re using 1.1.3 and the wallet app is closed.

· Windows: Navigate to C:\Users\USER NAME\AppData\Roaming\Reddcoin and BACK UP your wallet.dat file by making a copy of it and moving it to a secure location.

· Mac: Navigate to ~/Library/Application Support/Reddcoin and BACK UP your wallet.dat file by making a copy of it and moving it to a secure location.

· Linux: Navigate to /root/.reddcoin and BACK UP your wallet.dat file by making a copy of it and moving it to a secure location.

2) Now that you have your wallet.dat file backed up. Please remove the rest of the contents of the Reddcoin folder and keep it in a safe place for the time being. You do not need to delete it until you’ve confirmed wallet 1.1.3 is working.

3) Open the new wallet version 1.1.3 and allow it to sync with the network. This will take some time.

4) Once the wallet has synced it will be empty. Please close the wallet and place a copy of the backed up wallet.dat file back into the Reddcoin folder.

5) Open the wallet again and voila, you are done!

WARNING: DO NOT send your wallet.dat file to anyone!