Reddit appears to be introducing a beta wallet feature with blockchain integration.
Reddit could be about to implement a new blockchain-based points system on its app, if a screen recording posted in the Cryptocurrency subreddit today is to be believed.
Redditor MagoCrypto posted the video, which is a walkthrough of a new build of the Reddit app that shows a feature with mention of community points. When delving into the FAQs of the wallet feature there appear to be pages on distribution, wallet, backup and recovery, and on the blockchain.
Screenshot of the video. Source: Reddit
The video, which has not been verified, suggests Reddit may be experimenting with using blockchain or a cryptocurrency-related to rewarding posts.
Previous points systems
Approximately one year ago, Reddit trialed a “community points” initiative which saw users rewarded in community points for their engagement on the platform. It was first run on the r/ethtrader Reddit community, followed by on the r/Stellar community.
Although the initial runs garnered support from the community, this recent video shows many users reluctant to incorporate blockchain for the sake of using a buzzword. Other users are curious about which blockchain will be used or if Reddit will develop its own. The underlying question permeating the whole thread is “why blockchain?”
One of the top comments simply asks, “Which blockchain?,” to which numerous users responded, “Ethereum,” although none could provide any evidence to support the claims.
A blockchain-based ecosystem on Reddit could be a large step towards mainstream adoption. In February 2020, over 1.3 billion unique visitors opened Reddit.com, with 430 million active users reported during December 2019.
According to Comscore, 38% of Reddit users consider themselves technology lovers. r/Bitcoin has over 1.4 million members, with r/Cryptocurrency sitting just shy of 1 million members.
Reddit readers can already tip posts with Basic Attention Tokens (BAT) through the Brave Browser, although this function is entirely initiated by the Brave team. Twetch, Bitcoin SV’s Twitter-like social media platform, and Hive, the hard fork from the original Steem blockchain feature tipping functions in their respective communities.
Reddit has not immediately responded to Cointelegraph’s request for comment. This article will be updated with more information if we receive a response.
Source: , CoinTelegraph
Articles listed with Cash Tech News as the author are either general information, or may have been imported from another website, to bring our readers a rich media experience that encompasses articles that we find interesting, as well as those curated by others.
The views and opinions expressed here are for informational purposes only, and should not be confused with professional financial advice. These opinions are solely those of the author and do not necessarily reflect the views of CashTechNews.com. Every investment and trade involves risk. You should conduct your own research, and contact your professional financial advisor before making any investment.
Corrections, feedback, and ideas should be submitted through the website contact form.