Reddit offers Ethereum Community Points to incentivize quality posts and comments! Reddit offers Ethereum Community Points by expanding the trial, offering users a way to earn a “piece of their favorite communities.”
Reddit revealed its plans to utilize the Ethereum network on Wednesday evening. The points can be spent on premium features and used as a measure of reputation. Users are rewarded based on their contribution, and the community decides how many points each user received. It is up to the user to decide what to do with the points – some will hoard the points while others might spend them on badges, custom emojis, and GIFs in comments.
Users can also leave a tip for comments they like or posts that they see as valuable. Users can also transfer community points directly to another member. In order to get started, Redditors must first sign up to the “Vault”, Reddit’s local blockchain wallet.
Users will have full control of their community points – moderators nor Reddit itself can touch those points or dictate how they are to be spent.
The community points will be run by utilizing Ethereum’s ability to use smart contracts to manage balances, distribution/claiming, and purchasing memberships. The transactions will cost “gas”, and Reddit will cover the cost of gas “for now” for users using its built-in Vault. Users utilizing their own Ethereum wallets may be required to cover Gas themselves.
On r/Cryptocurrency and r/FortNiteBR, the tokens were introduced to the communities as “moons” and “bricks” respectively.
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