RED digital currency
The RED digital currency is a digital token belonging to a project called RED TOKEN, which is linked to the global entertainment industry with a special focus on Japan. The project aims to support and enhance entertainment, including the creation of an electronic sports park (esports) in Tokyo, projects in the metaverse (digital worlds), as well as the development of original content in collaboration with major brands and creators. RED TOKEN was launched in 2014 and has a Proof-of-Stake Velocity algorithm that allows users to earn rewards by holding coins and participating in transactions, making it environmentally friendly compared to traditional Proof-of-Work systems. The project also focuses on user privacy and securing digital transactions. The currency is built on the Ethereum network and has a total supply of 100 billion coins, of which about 6.5 billion are currently in circulation. Its current price is around $0.0020 per unit [1][2][3][4].
There is also another project called RedStone that uses the RED token but has a different nature, as it is an oracle provider for blockchain data supporting decentralized finance (DeFi) applications, and its domain is far from entertainment [5][6].
Therefore, the RED currency you are talking about is likely the RED TOKEN associated with entertainment and esports in Japan.
