Reddit content contributors to earn Ethereum-based tokens as rewards
Reddit users contributing content to subreddits will soon start earning Ethereum-based tokens.- The tokens will be on beta testing all through summer and later migrate to Ethereum mainnet.
As cryptocurrency use cases grow, the need to reward contributors for content becomes apparent. For this reason, Reddit, one of the leading online forums is beta testing a couple of Ethereum-based tokens to introduce rewards for its content contributors. Members of various subreddits will be given rewards in the two tokens namely: $MOONS and other $BRICKS. A statement by a Reddit spokesperson said:
We continuously run experiments to explore features that engage our users and communities. With Community Points, we’re working exclusively with two communities to test this feature and gather feedback from our users.
Members of two subreddits, /r/Cryptocurrency and /r/FortniteBR have been selected to test the new feature. A new webpage has also been added to help guide users on how to navigate the “Vault,” the platform that will be used to manage the tokens. Vault will give users the opportunity of managing their tokens, claim as well as spend. The two tokens are all ERC-20 tokens executing on Ethereum blockchain.
The beta testing will run through the summer of 2020. Reddit also assured the users that "the smart contracts and mobile apps have been reviewed and audited by Trail of Bits, an independent security firm with blockchain expertise." Following the testing, the tokens will be migrated to the Ethereum mainnet. Users will not lose their accrued tokens as all points balances will be migrated too.
Author
John Isige
FXStreet
John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren
