Reddit is broadening its function in the Ethereum environment, with the objective of constructing out scaling tools for the blockchain network.
The social networks platform revealed Wednesday it was broadening its deal with the Ethereum Foundation to increase its dedication to blockchain innovation by supplying advancement resources to scaling tools. In the statement, published to the Ethereum subreddit (a community concentrated on Ethereum), Reddit staff member u/jarins stated the relocation echoes its long-held “decentralized ethos.”
“In this new stage of our partnership, immediate efforts will be focused on bringing Ethereum to Reddit-scale production,” the statement stated. “Our intention is to help accelerate the progress being made on scaling and develop the technology needed to launch large-scale applications like Community Points on Ethereum.”
This collaboration might lead to Reddit dealing with layer 2 scaling tools or pressing jobs from a model phase to production.
Reddit advancement resources, consisting of a designer group, would be associated with this work. Ultimately, the concept is a job like Reddit’s Community Points function might be efficient in supporting the website’s countless users (Reddit has more than 50 million users since press time, according to Wednesday’s statement).
“Our blockchain efforts will be led by Reddit’s Crypto team,” the statement stated, including that it presently has task openings for backend engineers.
In short, the concept is users can reward each other points for making “quality posts,” with these points being redeemable for badges or other customized functions. These points are kept on Ethereum’s Rinkeby testnet as ERC-20 tokens, indicating that unlike Reddit’s internal karma system, the business cannot manage these points.
The business did not supply volume figures for the number of points have actually been rewarded or redeemed to date, however the CryptoCurrency and FortNiteBR subreddits had 1.2 and 1.4 million users respectively since press time.
It does not appear that Reddit strategies to broaden the system to extra neighborhoods, or move from Rinkeby to the Ethereum mainnet.
“The scaling technology developed through this partnership will be open-sourced and publicly available for anyone to use,” the statement stated.