Bitcoin
$ 57,842
Ethereum
$ 2,073.1
Litecoin
$ 223.89
okex ads

REDDIT TEST-RUNS ETHEREUM-POWERED POINTS SYSTEM FOR VIRTUAL COMMUNITIES

According to an informational video, posted by the community manager for unstoppable domains, Reddit is reportedly testing an Etheruem-powered points system for one of its virtual communities. As contained in the informational video, the pilot program will, as part of its new initiatives, create new wallets that will now serve as a part of the Reddit app and also store users’ community points as ERC-20 tokens.

When posts or comments are upvoted, users can earn points which they can now spend as they deem fit. For instance, users can spend their points on purchasing special memberships in order to unlock exclusive features on the Reddit app such as badges, GIFS, or animated emojis. Coins that have been spent will be burned to generate value for other community members.

Reddit spokesman confirmed the existence of the program saying “we continuously experiment with ways to support communities on Reddit. In this instance, we are working with one community to test features that represent a user’s involvement in a community. We value and seek out community feedback as we continue to explore features that engage our users and communities”.

Because the points would not be localized on the app but would be stored on Etheruem blockchain, Reddit moderators would have little or no influence over the balance of those who use the platform.

 

Related Posts

Leave a Reply

Newsletter

Subscribe To Newsletter

For updates and exclusive offers, enter your e-mail below.

Popular Posts

Moderna and IBM to Jointly Explore Blockchain Technology for Vaccine Traceability
April 9, 2021By
Blockchain Association Hold Talks with Regulators Over Amenable Regulations
April 8, 2021By
ECB chief: Digital euro could take 4 years
April 8, 2021By

Advertisement

Video Posts

In
Tech Adoption For Small Business
April 6, 20210
In
OKEx Nigeria Exclusive Summit 2021
April 6, 20210

Crypto Stats


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin57,842 0.18 % 1.11 % 1.63 %
Ethereum2,073.1 0.09 % 2.55 % 5.21 %
Binance Coin418.07 0.38 % 4.63 % 24.49 %
Tether1.000 0.03 % 0.12 % 0.06 %
Polkadot43.88 0.58 % 0.43 % 36.39 %
Cardano1.210 1.07 % 0.50 % 1.96 %
XRP1.000 1.78 % 4.32 % 75.28 %
Uniswap30.15 0.33 % 1.74 % 5.03 %
Litecoin223.89 0.51 % 0.08 % 10.43 %
Chainlink32.28 0.69 % 0.04 % 7.19 %