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Reddit May Soon Start a Blockchain-Based Community Points System

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Reddit May Soon Start a Blockchain-Based Community Points System

According to a screen capture video posted on the cryptocurrency subreddit by Redditor MagoCrypto, Reddit might be implementing a blockchain-based community points (“tipping system”) on its app.

MagoCrypto in this video has walked the viewers through this new feature. MagoCrypto after opening the wallet which is part of the new system on the Reddit app takes the viewers through the Frequently Asked Questions section. The sections here included the Wallet, Backup and Recovery, and a section called On the Blockchain.

While this video has not been verified it has led many to believe that Reddit is testing this new blockchain-based system to incentivize quality of posts on the community.

Revamping of the Community Points System

This particular system seems to be a rejuvenation of a previously chalked out project on the social media platform. The platform had previously tested a similar community points system. It was run on two Reddit communities, namely, – r/ethtrader and r/Stellar communities. The thread of comments in response to the aforementioned video shows a certain degree of skepticism about incorporating a blockchain-based system.

They are questioning, how blockchain can be particularly beneficial in serving the purpose of rewarding the members within the community.

And another major question that is arising out of the community seems to be which blockchain will it be that will be used for the system. To this many have commented- Ethereum, but none of these claims are supported by any evidence.

Nevertheless, many Reddit users are technology enthusiasts. There are about 1.4 million members on the r/Bitcoin community and the r/Cryptocurrency community has nearly a million members. The Brave browser has already enabled a feature through which Reddit users can reward posts through a Basic Attention Token (BAT); but this initiative from Reddit can be widely accepted by many of its users.

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I am a content writer with interests in life sciences and blockchain. I believe that blockchain has the potential to transform every aspect of human endeavor. I love surfing the internet, reading, learning new things, and trying new cuisines.

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