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While the Reddit online community is making international headlines because users are organizing to buy shares, the creators backing it are continuing their plans for blockchain and token technology. Now a partnership has been concluded with a very important player in the crypto industry – the Ethereum Foundation.
“As Reddit continues to grow with more than 50 million daily users and hundreds of thousands of communities, the platform has long maintained a decentralized spirit by allowing users to create, manage and grow their own communities,” he said by part of the American Company. “Through this partnership, we will increase our commitment to blockchain, accelerate scale and resources for the Ethereum ecosystem, and bring the value and independence of blockchain technology to millions of Redditors.”
Points system on blockchain
The plan is to bring the community point system to Ethereum. The point system was introduced in 2020 and is currently being tested on the r / CryptoCurrency and r / FortNiteBR subreddits. Users can earn points there for various promotions. “This project is our first attempt to use decentralized technology to give people a sense of responsibility and ownership of the communities they create and contribute to,” he said. In turn, users can redeem the points accumulated for virtual goodies such as badges, emojis or a GIF function in the comments sections, with which they can differentiate themselves from other users.
On Reddit, a dedicated crypto team will now take over working with Ethereum. They want to make sure that “blockchain reaches millions of users”. The announcements should already be made in the coming months. Blockchain-based loyalty systems have long been nothing new – experiments have been going on in various industries for a long time, even if there hasn’t been any resounding success yet. Reddit as a platform for this could help move the matter forward.
Reddit Announces Partnership with Ethereum’s Ethereum Foundation
