What does RedCoin do?

Sure, here's a description in the tone of a questioner, with a word count of no more than 300: "I'm curious, can you tell me more about RedCoin? I've heard it mentioned in the world of cryptocurrency but I'm not entirely sure what it's all about. What is RedCoin exactly, and what does it do? Is it a form of digital currency like Bitcoin or Ethereum? How is it different from other cryptocurrencies, and what are its unique features? I'd love to learn more about how it works and its potential applications in the finance industry.