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Reddit Announces Partnership With Ethereum Foundation

Reddit Announces Partnership With Ethereum Foundation

Reddit has teamed up with the Ethereum Foundation to establish Reddit’s first-ever blockchain partnership.

With more than 50 million daily users and hundreds of thousands of communities, Reddit seems to be leveraging Ethereum’s influence even more. Also, the platform has long maintained a decentralized ethos by empowering users to create, govern, and grow their organizations.

Furthermore, the partnership between Reddit and Ethereum aims to increase the users commitment to blockchain technology. At the same time, the collaboration brings blockchain technology’s value and independence to millions of Redditors.

In many ways, the collaboration began with the Scaling Bake-Off that Reddit hosted in their community with the Ethereum Foundation. This new partnership will concentrate immediate efforts on bringing Ethereum to Reddit-scale production.

Moreover, Reddit development resources, including a developer team, would be connected in this work. The idea is that a project like Reddit’s Community Points feature could support the site’s millions of users.

In short, users can get reward quality points that are redeemable for badges or other custom features. In addition, these points that users earned are stored on Ethereum’s Rinkeby as ERC-20 tokens.

Moreso, the company did not provide volume figures for how many points have been rewarded or redeemed to date. But the CryptoCurrency and FortNiteBR subreddits each produced over 1 million users as of press time.

Jesus is the Senior Editor of CoinQuora. He's been following the crypto space since 2016, and may possibly do so indefinitely. He covers various blockchain-based developments and crypto market trends.