Redpill

Introduction

The 21st century has seen a remarkable increase in the transition towards an entirely virtual world. Many aspects of human interaction are fast leaving the so-called “real plane” into the virtual environment of computers. The financial services sector isn’t left out in this revolution as seen by the emergence 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 derived from the utilization of cryptography in the process of encrypting financial transactions. By way of definition, cryptocurrencies may be defined as a medium that uses encryption to encrypt (secure) financial transactions. 

All financial operations are characterized by the transfer of value from one entity to another. For any financial transaction to be deemed valid, there must be a means of providing authorization and authentication of the transfer of value. For financial transactions involving cryptocurrencies, this is achievedusing a blockchain. Every cryptocurrency utilizes a blockchain with the Bitcoin and Ethereum block chains being the most popular. Red Pillis built on the Ethereum blockchain which is a traditionalblock chain used by millions of people. This provides robust network integrity for the Red Pill cryptocurrency. There are some different digital wallets and support services provided by Ethereum for users of Red Pill.

Red Pill is a currency designed to enrich online communities. Red Pill can be used for many different purposes. Communities can, for example, use Red Pill to reward their members for everything from meeting certain milestones (e.g., making a certain number of posts on a forum) or to reward them for their loyalty (e.g., awarding members pills for being amember for a year). Red Pill can also be used to reward subscribers of a product or service. Furthermore at Red Pill also makes a great tip.

Blockchain 

Definition:

A blockchain is a ledger of transactions that are distributed across the participating nodes in a network. It is a decentralized database of the records of every single transaction that has been executed, finalized and divided among the participants of the blockchainsystem. Blockchains run on peer-to-peer (P2P) networks where there is no central server and all the nodes (computers) in the network are responsible for maintaining node integrity [1]. Blockchain technology utilizes cryptography as a means to allow each participating node in the P2P network to update the blockchain without the need for a central authority. Each node maintains a list of the complete blockchain which is updated upon every completed transaction.

As stated earlier, Red Pillis built on the Ethereum blockchain which utilizes smart contracts. Smart contracts are small computer programs that carry out computations which are replicated and distributed within the Ethereum blockchain network. Just like the Bitcoin blockchain, the Ethereum is also decentralized. However, the Ethereum protocol is more flexible and adaptable than the Bitcoin protocol [2].

This flexibility and adaptability of Ethereum lend itself to being a programmable blockchain, and as such, it is suitable for cryptocurrency applications like Red Pill. With Ethereum being colloquially referred to as “world computer,”Red Pill is running on a platform that provides robust functionality for all users and aspiring users.

Advantages of Blockchain Technology:

Since Red Pill runs on the Ethereum blockchain, it enjoys all the main benefits of the blockchain applications of the distributed ledger technology. The main advantages are as follows: 

Immutability

One of the biggest selling points of blockchain technology is its logical immutability. This means that transactions once completed and recorded in the blockchaincannot be altered 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 successfully manipulating the system is zero [3].

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.

Growth and Development of Blockchain Technology:  

Blockchains, in essence, is just an underlying implementation of the full potential of the distributed ledgers. The Ethereum blockchain represents a significant leap forward in the growth and development of blockchain technology. By incorporating smart contracts within the blockchain framework, the applicability of distributed ledgers is being expandedsubstantially. 

Smart contracts open up new vistas for blockchain technology. In addition to the primary function of processing and validating transfer of digital assets, thesmart contract provides opportunities for automated processing and enforcement of contracts between participating computer nodes.  

There is a still a long way to go as far the block chains and distributed ledgers are concerned, but the signs look positive. By the current digital landscape, a large percentage of emerging technologies are going to be based on blockchain and its derivative protocols. The fact that Governments and large Corporations the world over are investing resources into developing more robust blockchain technology application solutions greatly enhances the future of blockchain [1].

With all of this growth and development of the core technology, it is a safe bet to expect the creation of a plethora of cryptocurrencies. As blockchain technology becomes more popular in mainstream use, there will be renewed efforts in creating different cryptocurrencies by individuals and organizations looking to buy into the market. Red Pill is more than just iteration in the ever-expanding cryptocurrency market [2].

Red Pill represents more than just a cryptocurrency; it is a community with a shared philosophy for greater control and autonomy over its finances. It is not just another Altcoin but rather, it is a representation of the freedom to use one’s funds anonymously. All of these core 

Philosophies are built into the architecture and main features of Red Pill, making it a one of a kind cryptocurrency

Architecture Framework and

Content Technologies

Design:

Red Pill is an Ethereum blockchain based cryptocurrency regulated by smart contracts that

providing support for a plethora of financial transactions. The Ethereum blockchain

provides robust functionality that enables the efficient operations of Red Pill as a cryptocurrency.

Red Pill financial transactions in the form of smart contracts are validated and

processed across the entire network. All the rules of implementation for Red Pill cryptocurrency

protocols are compatible with the smart contract framework of the Ethereum blockchain.

The fact that Red Pill as a cryptocurrency is built on the Ethereum network also

provides an extra layer of security against malicious attacks on the Red Pill coin system [4].

All Red Pill transactions are processed, validated, recorded, stored and distributed on the

Ethereum blockchain. Red Pill coin users have the freedom to choose from a variety of

wallet options available to them to store their coins. These wallets come in both online and

cold storage options. Our favorite wallet option is MyEtherWallet which apart from providing

online storage for Red Pill coins also gives users the opportunity to generate Paper

Wallets that can be used as offline storage options. These offline (cold) storage options

provide access to your Red Pill coins on the go. There are numerous ways users can access

their MyEtherWallets such as Ledger, Mnemonic Phrases, and UTC/JSON files.

Users are also free to store Red Pills on the official Ethereum Wallet; Mist. Mist is available

on is available for download on GitHub. Cloud provides advanced security for your Red Pill

coins with constant improvements and updates to the framework. It is used by millions of

cryptocurrency users in the Ethereum block chain network.

Transaction Security:

Red Pill operates on the philosophy of complete anonymity with regards to financial transactions.

As a decentralized cryptocurrency, there is a great emphasis placed on the security

and integrity of all transactions. The vision behind Red Pill stems from a community of

people with a justified shared distrust for mainstream financial institutions who want

greater autonomy and control over their finances. There is virtually no way to know who

owns a wallet [5].

Attacks on the Ethereum wallet will not provide information on the owner since the wallet

providers do not store hashes or any identifying information about the owners and creators

of the portfolio. The only way to obtain this information is if the owners and creators themselves

divulge this information. Thus, Red Pill users can safely and securely send and

ReceiveRed Pills without fear of being tracked. The system employs robust cryptographic

encryption mechanisms that make it theoretically impossible for anyone to acquire another

user’s Red Pills. All Red Pill transactions require a private key or UTC/JSON file to be

processed and validated. As long as users keep their private keys secure, their Red Pillscannotbe

tamperedwith.

Critical Information

Initial Distribution:

The target plan for the initial distribution of Red Pill coins begins with an Initial Coin Offering

(ICO) of 100 Million Coins. The total supply of Red Pill coins is 200 Million which means that

the ICO will account for 50% of the total supply. In subsequent years, 10 million coins will be

made available until the total currency amount is reached. The minimum bidding price for

the coin auction will be determined by the current market value of Red Pill coins as at the

time of the sale. Red Pill coins will be listed based on Ethereum upon release, with one eth

being equivalent to 5361 Red Pills [6].

Setting Up Hardware Wallet for Red Pill Coins:

Hardware wallets offer an extra layer of security for your Red Pill coins than online and

paper wallets. While it is highly unlikely that online portfolio options can become vulnerable

to malicious attack, storing your valuable Red Pill coins more securely is certainly something

that should interest all Red Pill users. There are two popular Hardware wallet options

available: the TREZOR and the LEDGER Nano S. Red Pill coins are compatible with both of

these deviceportfolio options. They both provide passcode security functionality and are

incredibly easy to use. All you have to do is plug and play the hardware device on your

computer, enter your passcode and gain access to your Red Pill coins. The LEDGER Nano S is

considerably cheaper than the TREZOR so those on a tight budget can consider getting the

LEDGER Nano S. even To provide more security for your Red Pill coins, you can get both

options and split your coins halfway each between them. In this way, in the unlikely event

that something catastrophic happens to one wallet option, half of your funds are still kept

safe.

Transferring Red Pill Coins:

The process for sending Red Pill coins is simple and straightforward and follows the same

ground rules as other Ethereum based cryptocurrencies. If the receiver of the Red Pill coins

is a fellow member of the Red Pill community (i.e., the person has a Red Pill coin address),

all you need to do is log into your wallet and click on “send ether & tokens.” The next step is

to specify the number of coins while making sure that you have enough “Ether” (ETH) for

the transaction. Some coins being will determine the gas price for the purchase. Once all is

set, you can proceed with the transfer and the recipient will receive the coins almost instantaneously.

If the recipient is not yet a member of the Red Pill community (i.e., the person does not

have a Red Pill coin address), as long as that person has an Ethereum address, you can still

send Red Pill coins. All that is required is informing the recipient of your desire to carry Red

Pill coins and requesting that the person sets up Red Pills on their wallet. Alternatively, you

can go ahead and send the Red Pills to the non-Red Pill coin Ethereum based user but

ensure the recipient knows to use the Red Pill coins contract address for the funds to show

up. By so doing, the recipient’s wallet becomes automatically set up to receive Red Pills.

You need to have gas to send Etherium to other people, for example, your favorite content

writers. Most of the content writers usually leave your Etherium wallet account on their

description so what you need to do is just check their portfolio and send Red Pill to them. It

is comfortable and convenient

Red Pill Roadmap

Launch Red Pill Coin ICO Round 1 October 1st 2017 – October 31st 2017

Launch Red Pill Coin ICO Round 2 December 1st 2017 – December 31st 2017

February 2018 – Launch Red Pill Chrome extension that allows Red Pill owners to

tip their favorite content creators on (YouTube, with support for twitter, and

Instagram planned).

April 2018 – Launch Red Pill Send And Receive Application for Android with IOS

version following in Fall 2018.

Escrow

Red Pill will not be es-crowing any of the received funds. Funds will be used to develop red

pill product and services. Funds are released from the crowdsale contract to the Red Pill

team at the end of each ICO round. Of The 200 Million Red Pills created, 100 Million Red Pill

coins will be made available to buyers during the round 1 ICO. Any remaining coins will then

be made available during the Round 2 ICO. If no coins are remaining after the round 1 ICO

ends, then the Round 2 ICO will be cancelled.

50 Million Red Pill Coins will be kept for the Red Pill Team, while 20 Million were set aside

for Pre-sale buyers. The Remaining Red Pill coins will be sold yearly at market price.

Team

The Red Pill development team are a group of developers whom have worked together

collectively to bring Red Pill to the public. Red Pill prides itself on facilitating the ability of

users to safely use Red Pills as they so choose to, while following all the laws, rules and

regulations, as stipulated in their respective countries.

Technical Implementation

Red Pill Coin is an ERC20 Compliant Token. This means that Red Pill can been stored and

traded on virtually any platform or wallet that supports the ERC20 standard. The purpose

of Red Pill is to support creators, empower fans, and also serve as a system of wealth

management/growth, for those that choose to invest in it.

This decision was made deliberately 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 development of the coin itself.

By making the coin ERC20 compliant, it is now capable of being stored and traded on multiple

platforms.

Stage 2:

The second stage of the technical implementation, is the development of a chrome extention

and mobile apps, that will allow users to easily store and or send Red Pills to their

favorite content creators, bloggers ect.

The extension and apps works by allowing users to enter an Ethereum address of the

creator or person that they want to send funds to, or to search 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.

• The Chrome extension is slated to arrive in first quarter 2018
• The Android Application is slated to arrive in second quarter 2018
• The IOS App is slated to arrive Summer/Fall 2018

Conclusion

With millions of people likely to support and adopt the currency, Red Pill coins are uniquely

positioned to becoming the global cryptocurrency of choice. It is incredibly popular with

miners on the Ethereum network, and it is fast becoming the default currency of the

Ethereum network. Though it is still early days as Red Pill coins are concerned and the

entire blockchain space is still very niche, there are a lot of benefits attached to it as the

most promising emerging technology of this present time.

Red Pill coins can be exchanged on various cryptocurrency exchangers. Red Pills can also be

exchanged for bitcoins which can easily be converted to cash. Thus, it constitutes a safe and

secure means of storing wealth. Red Pills also functions as payment for products and

services just like mainstream fiat currency. Red Pills can also be used for a variety of online

payment processes such as tipping as well as on virtual platforms.

Red Pills are scalable and divisible up to 8 decimal places and with an estimated 200 million

total supply over the next 16 years; stability of the currency is assured. Red Pills are compatible

with numerous wallet options for secure storage of user coins as well as accessible for

transfer of coins. The Ethereum blockchain is known for its use of smart contracts and its

fast transaction time. By being built on the Ethereum blockchain, Red Pillscan provide

premium cryptocurrency services that are far superior to other players in the market.

The Red Pill community is an ever growing one with more people who are determined to

exercise greater control over their finances. For more information on the upcoming Red Pill

ICO and other inquiries, visit the Red Pill coin website.

References

• Global Industry Analysts, Inc, “BlockChain Technology,” BlockChain Technology,

January 2017.

• E. Novoseltseva, “Blockchain technology: use cases, statistics, benefits,

startups & events,” Apiumhub,

07 April 2017.

• M. Pisa and M. Juden, “Blockchain and Economic Development: Hype vs. Reality,” CGD

Policy Paper 107, Washington DC 2003

6, July 2017.

• Carol Schwyzer, “Architecture on Coins,” MoneyMuseum, vol. 1, no. 14, p. 14,

2016.

• Adam, “The Red Pill Episode,” The LTB Network Forum, p. 1,

11 July 2014.

• N. Hayase, “Is Bitcoin the Red Pill? Unplugging the Matrix.,” Bitcoin Magazine,

24 October 2014.

Author

Bitcointalk Username : milobubu

Bitcointalk Profile : https://bitcointalk.org/index.php?action=profile;u=2091970

ETH Address : 0x533330b7Aa38D23FEF62e4894d5f5d8680405696