Mobile Prices / Blog / Cryptocurrency / Reddit Introduces ETH-Based Community Points Beta Program With Custom Tokens for Subreddits

Reddit Introduces ETH-Based Community Points Beta Program With Custom Tokens for Subreddits

Cryptocurrency

By Yes Mobile

46
Reddit Introduces ETH-Based Community Points Beta Program With Custom Tokens for Subreddits

Reddit Introduces ETH-Based Community Points Beta Program With Custom Tokens for Subreddits

The favored discussion board and information aggregation internet portal Reddit has revealed the agency’s Group Factors beta program the place Reddit customers can “personal a bit” of their group with “customized tokens” for subreddits.

Blockchain-Backed Reddit Group Factors: ‘The First Step In direction of a Completely different Future for On-line Communities’

On the finish of July, Reddit introduced that the platform’s Group Factors system would leverage the Layer 2 (L2) protocol Arbitrum. This week, Reddit revealed a brand new web site that options the Group Factors beta program, which says that Reddit patrons will have the ability to leverage native crypto property tethered to distinctive subreddits. On the time of writing, there’s a waitlist and customers can sign-up through a type Reddit created.

“Group Factors are step one in direction of a unique future for on-line communities,” Reddit’s description of the brand new beta program notes. “These tokens reside on the blockchain, which suggests they’re really owned by the group. Over time, your group will profit from even better management and independence… on and off of Reddit.”

Reddit says that customers can “Earn one thing priceless for all of the hours you place into your group, [and] unlock particular options.” Redditors can “purchase group options with Group Factors, like particular memberships and awards, [and] encourage higher content material and dialog,” the corporate particulars. Moreover, Redditors can use polls and methods to determine the Group Factors distribution course of. Reddit’s web site provides:

Every subreddit creates its personal Group Factors token, with a customized identify and image.

Cryptocurrency Subreddit Likes the Group Factors Idea, Most Widespread Bitcoin Subreddit Could Not Be Too Keen on Ethereum-Based mostly Subreddit Tokens

As well as, Reddit says that folks can “personal” their status because the factors system will probably be a “measure of status” in a sure group. “Within the subreddit, they’re displayed subsequent to usernames, so the most important contributors stand out from the group,” Reddit explains. Group Factors have been mentioned in particular boards just like the subreddit r/cryptocurrency and a large number of the subreddit’s subscribers appreciated the thought.

It is going to be attention-grabbing to see whether or not or not r/bitcoin implements a Group Factors token as discussions of different crypto property are banned from that subreddit. Furthermore, many r/bitcoin subscribers usually are not too keen on the blockchain Ethereum so utilizing it for a Group Factors system could possibly be thought of hypocritical. It’s secure to say that many different crypto and non-crypto-related boards on Reddit will doubtless haven’t any points utilizing the Ethereum-based Group Factors program.

What do you concentrate on Reddit introducing the brand new Group Factors program the place subreddits will have the ability to create their very own customized tokens? Tell us what you concentrate on this topic in the feedback part under.

Earlier articleCentral Banks of France, Switzerland and BIS Full Cross-Border CBDC Trial

Extra Widespread NewsIn Case You Missed ItBinance CEO Says He and Warren Buffett Use Related Funding Technique however Doubts Buffett Has Expertise to Hold Crypto SafeThe CEO of cryptocurrency alternate Binance says that he and Berkshire Hathaway CEO Warren Buffett share the same funding technique. Nonetheless, he mentioned he wouldn’t persuade the Oracle of Omaha to speculate in cryptocurrency. “I get fearful if he … learn extra.

‘Monetary Inclusion’ — A Buzzword for Central Banks Who Secretly Despise Financial Freedom

Ghana’s Minority Lawmakers Reject Authorities Proposal to Tax Cellular Cash Transactions

Annual Quantity of Crypto Transactions Made by Russians Reaches $5 Billion, Financial institution of Russia Finds

Regardless of Crypto Market Rout, Complete Worth Locked in Cross-Chain Bridges Jumps 9% in 30 Days


author-yes-mobile
Yes Mobile
Yes Mobile is the senior mobile blog writer and technology expert. Our aim provides the best information about mobile technology and latest mobile prices in Pakistan new mobile news video reviews issues etc. And how to use software easy ways. and much more.

Latest Posts


Latest Mobile Price List in Pakistan



BlackBerry DTEK70 Coming Soon
BlackBerry DTEK60 Coming Soon
Tecno Phantom 8 Rs. 34,500
Apple iPhone XS Max Rs. 166,499
Apple iphone 8 Plus Rs. 110,499
Apple iphone 8 Rs. 96,499
Apple iPhone X Rs. 128,499
Huawei Nova 3 Rs. 58,499
Honor 9 Mobile Rs. 55,499
Tecno Camon 11 Pro Rs. 29,500
Nokia 8 Sirocco Rs. 103,500
Meizu Zero Rs. 67,500
Nokia 5.1 Rs. 18,500
Nokia X6 Rs. 31,500
Nokia 4 Rs. 19,500
Realme 2 Rs. 25,499
Tecno Camon iACE2X Rs. 13,300
Realme U1 Rs. 28,499
Meizu Note 8 Rs. 44,500
Realme C1 Rs. 18,000
Meizu 16s Plus Rs. 71,500
Huawei P30 Pro Rs. 173,500
Samsung Galaxy A70 Rs. 61,499
Huawei P30 Lite Rs. 43,499
Oppo F11 Pro Rs. 54,499
Oppo A5s Rs. 19,500
Samsung Galaxy A10 Rs. 20,500
Vivo V15 Pro Rs. 57,500