Reddit teams up with the Ethereum Foundation to bring the value and independence to millions of redditors
|- Reddit just announced a partnership with the Ethereum Foundation.
- This is Reddit's first-ever blockchain partnership with the intention to launch large-scale applications on Ethereum.
- Reddit has recently introduced various community points that are being tested on several subreddits.
One of the biggest cryptocurrency subreddits called r/CryptoCurrency introduced 'Moon' tokens a few months ago, tested on the Rinkeby network. Users of the subreddit can obtain Moons by posting useful content and getting Karma. These tokens are tradeable and can be used for a variety of things on r/CryptoCurrency like own personalized badges and emotes.
Reddit partners with the Ethereum Foundation to bring the technology to millions of Redditors
According to an official announcement posted by Reddit, the platform is now partnered with the Ethereum Foundation to launch upcoming applications on Reddit that can scale. The platform is hiring blockchain developers right now.
We’re looking forward to working closely with the Ethereum Foundation, and contributing more to the broader Ethereum ecosystem -- and we hope to share some exciting announcements over the next few months.
Reddit had a scaling competition back in July 2020 named the Scaling Bake-Off, aimed at projects that could bring scaling solutions to Ethereum and Reddit to bring community points to the mainnet. It is unknown at this point if any of the proposed solutions will be used.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.