Is Reddit Devising a Blockchain-Based Tipping System?

Reddit might be about to implement a brand new blockchain-based factors system on its app, if a display screen recording posted within the Cryptocurrency subreddit at present is to be believed.

Redditor MagoCrypto posted the video, which is a walkthrough of a brand new construct of the Reddit app that reveals a characteristic with point out of group factors. When delving into the FAQs of the pockets characteristic there seem like pages on distribution, pockets, backup and restoration, and on the blockchain.

Screenshot of the video. Supply: Reddit

The video, which has not been verified, suggests Reddit could also be experimenting with utilizing blockchain or a cryptocurrency-related to rewarding posts.

Earlier factors programs 

Roughly one yr in the past, Reddit trialed a “group factors” initiative which noticed customers rewarded in group factors for his or her engagement on the platform. It was first run on the r/ethtrader Reddit group, adopted by on the r/Stellar group. 

Though the preliminary runs garnered help from the group, this current video reveals many customers reluctant to include blockchain for the sake of utilizing a buzzword. Different customers are interested in which blockchain will probably be used or if Reddit will develop its personal. The underlying query permeating the entire thread is “why blockchain?”

One of many high feedback merely asks, “Which blockchain?,” to which quite a few customers responded, “Ethereum,” though none may present any proof to help the claims.

A blockchain-based ecosystem on Reddit might be a big step in direction of mainstream adoption. In February 2020, over 1.three billion distinctive guests opened Reddit.com, with 430 million lively customers reported throughout December 2019.

In accordance with Comscore, 38% of Reddit customers take into account themselves know-how lovers. r/Bitcoin has over 1.four million members, with r/Cryptocurrency sitting simply shy of 1 million members.

Reddit readers can already tip posts with Primary Consideration Tokens (BAT) via the Courageous Browser, though this operate is fully initiated by the Courageous group. Twetch, Bitcoin SV’s Twitter-like social media platform, and Hive, the arduous fork from the unique Steem blockchain characteristic tipping capabilities of their respective communities.

Reddit has not instantly responded to Cointelegraph’s request for remark. This text will probably be up to date with extra data if we obtain a response.