Reddit grows its role in the Ethereum ecosystem to develop scaling tools for the blockchain network

 

 

The social media platform announced on Wednesday that it has expanded its work with the Ethereum Foundation to provide development resources for scaling tools. Reddit employee u / jarins said in the announcement posted on the Ethereum subreddit that the move increased its commitment to technology and highlighted the longstanding “understanding of decentralization.”

“In this new phase of our partnership, immediate efforts will focus on bringing Ethereum to Reddit-scale production,” said the announcement. “Our aim is to help accelerate progress in scaling and develop the technology needed to launch large-scale applications such as Community Points on Ethereum.”

This partnership may cause Reddit to work on layer 2 scaling tools or push projects from prototype stage to production.

Reddit development resources, including a developer team, will be included in this work. Ultimately, the idea is a project like Reddit’s Community Points feature that can support millions of users of the site (Reddit has over 50 million daily users, according to Wednesday’s announcement).

“Our blockchain efforts will be driven by the Crypto team of Reddit and the company currently has job opportunities for backend engineers,” the announcement said.

Reddit community ratings

Reddit introduced Community Points last year and posted them to CryptoCurrency and FortNiteBR subdirectories (communities built around the cryptocurrency debate and FortNite game).

In short, the idea is that users can reward each other for making “quality posts” and those points can be used for badges or other special features. These points are stored as ERC-20 tokens in Ethereum’s Rinkeby test network, meaning that unlike Reddit’s on-premises hash system, the company cannot control these points.

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The company had been experimenting for at least a month before posting the idea on its website. In June, he asked the community to help scale the project.

The company has not provided volume figures for how many points were awarded or redeemed so far, but the CryptoCurrency and FortNiteBR subdirectories each have over 1 million users as of now.

It does not appear that Reddit plans to expand the system to additional communities or migrate from Rinkeby to the Ethereum mainnet.

The announcement was made, “The scaling technology developed through this partnership will be open source and available to everyone.”

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