Over 10,000 Redditors have signed up for the platform’s ETH-based rewards, however, 75% of them are Fortnight players.
Within days of launching on the Rinkeby testnet, Reddit’s Ethereum (ETH)-based Community Points rewards system has seen more than 10,000 addresses created.
Reddit’s points were rolled out across two subreddit communities pertaining to the topics of the popular video game Fortnight (r/fortniteBR) and cryptocurrency (r/cryptocurrency) from March 13 to March 15.
Perhaps surprisingly, over 80% of wallets created on the testnet so far represent the Fortnight community.
Reddit ‘Community Points’ wallets tag five-figures
Within three days of completing its rollout, over 10,000 users have signed up to receive Reddit’s Community Points as a reward for their activity on the popular social platform.
As of this writing, 8,666 wallets have been created to hold r/fortnightBR’s Bricks, while just 2,073 Redditors have embraced r/cryptocurrency’s Moons.
2,295 transactions have been executed by Moon wallets, while Brick wallets have produced 9,584 — producing identical per-wallet activity of 1.1 transactions per address so far.
Will Reddit spike Gas prices?
Reddit plans to migrate its Community Points system on the Ethereum mainnet after the summer. A timeline is yet to be given for when Reddit plans to offer the crypto-based rewards to its entire 450 million user base.
While many Ethereum users have welcomed Reddit’s use of the protocol as a likely catalyst for widespread adoption, others are concerned that its Community Points could drive up Gas prices once it migrates to mainnet.
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.