#community points

Recently, Reddit made headlines by deciding to put an end to its blockchain-backed rewards initiative, Community Points. As initially reported by TechCrunch, the major barriers to this decision were the complexities of regulations and the hurdles of scalability. Introduced in 2020, the purpose of the Community Points initiative was to award and motivate user interactions in particular subreddits. These rewards were up for grabs for actions like securing significant upvotes on posts or comments, which fostered a positive community spirit. However, these points were not mere digital scores. They existed as ERC-20 tokens and were stored in Reddit’s exclusive cryptocurrency storage solution, the Reddit Vault. Holders of Community Points had the flexibility to utilize them in diverse ways, such as exchanging them for unique emojis or b

Reddit Seeks Senior Engineer for Platform That Features ‘NFT-Backed Digital Goods’

On Friday, American social news aggregation and discussion website, Reddit published a job listing seeking a senior backend engineer for a non-fungible token (NFT) platform. As part of Reddit’s development team, the new hire would help “design, build and ship backend services for millions of users to create, buy, sell and use NFT-backed digital goods.” Reddit’s Job Application Is Looking for a…

Reddit Partners with Ethereum Foundation to Build Scaling Tools

Reddit is expanding its role in the Ethereum ecosystem to develop blockchain tools. Reddit Increasing Commitment to Blockchain On Wednesday, the social media platform announced that it is expanding its collaboration with the Ethereum Foundation to provide resources for developing scaling tools. In a statement posted on r/ethereum, a Reddit employee said that the moveRead More

Reddit Joins With Ethereum Foundation to Build Scaling Tools

Reddit is growing its role in the Ethereum ecosystem, with the goal of building out scaling tools for the blockchain network. The social media platform announced Wednesday it was expanding its work with the Ethereum Foundation to provide development resources to scaling tools. In the announcement, posted to the Ethereum subreddit, Reddit employee u/jarins said the move increases its its…