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Reddit will work with the Ethereum Foundation

With more than 1.7 billion monthly views, the social network Reddit announced the start of its partnership with the Ethereum Foundation. This is Reddit’s first partnership in the Blockchain.

To Report Coin Telegraph, Reddit social network admin with the username “u / jarins”, said the partnership aims to “increase commitment to the Blockchain, accelerate scalability and resources for the Ethereum ecosystem, and provide value and independence of Blockchainchain technology to millions of Reddit users.” کرد.

Reddit had already started two major Ethereum-based projects in 2020. The first was Community Points software, a reward-based system that paid ERC-20 red token users in exchange for generating content for the platform.

Following the development of this software, the social network launched a contest called “The Great Reddit Scaling Bake-Off”. The purpose of this competition was to gather Ethereum scalable technology solutions that could help software such as Community Points to upgrade to the core network and eventually be available to more than 400 million monthly network users.

The new phase of the agreement with the more formal Ethereum Foundation focuses on creating scalable technology that can support large-scale software such as Community Points in the Ethereum Blockchainchain. The project will be led by the Reddit digital currency team.

In its announcement, Reddit also announced its readiness to work with Beckand engineers interested in scalability and work with the Reddit digital currency team to develop a more decentralized Internet. All scalable technologies produced in this new partnership will be made available to the public in open source.

According to Reddit, Community Points is currently in beta on the Rinkeby network and is being tested in two r / CryptoCurrency and r / FortNiteBR communities. From Reddit’s point of view, this software is the first attempt to use Blockchain technology to create a greater sense of responsibility and ownership of the people in the community that they have created and participate in.

In recent days, Reddit users have been making headlines in the GameStop gaming retailer by scrutinizing the day-to-day coordinated transaction to increase stocks, and in the process have increased seasonal hedge funds.


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