RATE Group | Reddit’s New Blockchain Community Points Can Be Controlled ‘Just Like Bitcoin’
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Reddit’s New Blockchain Community Points Can Be Controlled ‘Just Like Bitcoin’

14 May Reddit’s New Blockchain Community Points Can Be Controlled ‘Just Like Bitcoin’

Posted at 10:38h in Bitcoin News by

In a bid to create a more user-centric social media platform — “a free frontier” — Reddit has introduced its new community points system built on top of the Ethereum blockchain.

In a slide presentation shared Wednesday, May 13th, Reddit announced that Redditors will now be able to earn rewards in the form of ERC-20 tokens based on Ethereum blockchain for creating engaging content on the platform. This confirms claims that many users made in April about Reddit coming up with a blockchain-based reward system.

Users will have the freedom to either save their community points or utilize them to buy premium community features such as badges, custom emojis, and GIFs in comments.

Each user’s community points will be visible beside their username in the comments section to add more transparency regarding their activity and reputation on the platform. 

Community controls the reward system

According to the announcement, Reddit community members will exercise full control over community…

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