Reddit launches ETH-based community points Beta program to provide custom tokens for Subreddits – Bitcoin News


The popular forum and news aggregation portal Reddit revealed the company’s community points beta program, in which Reddit users can “own” their communities through subreddit’s “custom tokens.”

Reddit community points supported by blockchain: “The first step towards a different future for online communities”

At the end of July, Reddit Announce The platform’s community points system will utilize the layer 2 (L2) protocol Arbitrum.This week, Reddit launched a new website that contains Community Points Beta Program, Which means that Reddit customers will be able to take advantage of local encrypted assets tied to a unique subreddit.At the time of writing, there is a waiting list where users can Register via form Created by Reddit.

“Community points are the first step towards a different future for online communities,” Reddit’s description of the new test plan noted. “These tokens exist on the blockchain, which means they are truly owned by the community. Over time, your community will benefit from greater control and independence… whether it is on Reddit or on Reddit superior.”

Reddit stated that users can “earn something valuable all the time you invest in the community, [and] Unlock special functions. “Redditor can “use community points to purchase community features, such as special memberships and rewards, [and] Encourage better content and dialogue,” the company elaborated. In addition, Redditor can use opinion polls and systems to determine the community points allocation process. Reddit’s website adds:

Each subreddit will create its own community points token with a custom name and symbol.

The cryptocurrency Subreddit likes the concept of community points, and the most popular Bitcoin Subreddit may not like the Ethereum-based Subreddit token.

In addition, Reddit stated that people can “own” their own reputation, because the points system will become the “reputation measure” of a certain community. “In subreddit, they are displayed next to the username, so the biggest contributors stand out from the crowd,” Reddit explained.Community Points Already discuss exist Specific forum Like subreddit r/cryptocurrency and a large number of subscribers to subreddit like this idea.

Since the subreddit prohibits discussion of alternative crypto assets, it will be interesting to see if r/bitcoin implements Community Points tokens. In addition, many r/bitcoin subscribers do not like the blockchain Ethereum, so using it for the community points system may be considered hypocritical. It is safe to say that many other cryptographic and non-crypto-related forums on Reddit may have no problem using the Ethereum-based community points program.

Tags in this story

arbiter, Bitcoin, Community points, Community Points System, encryption, Based on ETH, ether, Ethereum, L2, Level 2, r/Bitcoin, r/cryptocurrency, Redd, Red Dinet Company, Reddit token, Subreddit token

What do you think about Reddit’s introduction of a new community points program, and subreddit will be able to create its own custom token? Please tell us your thoughts on this topic in the comments section below.

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