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cryptocurrency May 15, 2020

Reddit has revealed plans to create a system of Ethereum tokens to incentivize quality posts and comments.

Reddit Gold could soon be replaced by tokens on Ethereum, a recent slide presentation by Reddit reveals. The idea is that users will be awarded points by their fellow subreddit users. These points can then be spent on unique features like badges, custom GIFs, emojis, and other digital goodies.

Reddit has not yet explicitly specified which subreddits would be first to test the idea. However, it seems like r/Cryptocurrency and r/FortNiteBR will be the first two, based on the image present in the announcement itself.

The ‘community points’ system will all be run on Ethereum and represented on-chain. Reddit will have its own native blockchain wallet called ‘The Vault,’ accessible through the official Reddit app.

Reddit’s founder, Alexis Ohanian, is a known Ethereum fan. In June 2019 he said he believed the digital asset would hit $1,500 by January 1. [Investopedia].

Although this never came to fruition, perhaps Reddit can bring Ethereum to the next step of adoption.

The post Reddit Plans to Implement ‘Community Points’ System On Ethereum appeared first on BeInCrypto.

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