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Reddit Launches ‘’Community Points’’ On ETH To Boost Positive Behavior

05/14/2020
Reddit Launches, points, blockchain, eth, users

Reddit launches ‘’community points’’ trial feature that offers its users another way to earn a small piece of their communities built on the Ethereum blockchain. What is ethereum going to do to help this idea, we read more in the latest ethereum news.

In the presentation by Reddit published a few days ago, the platform revealed the plan to utilize the Ethereum network to boost the creation of ‘’quality posts and comments.’’ The points can be spent on different premium features and can be used as a measure of reputation in the community as the social media platform said. The Reddit users will get rewards based on their contribution to the favorite channels and will eventually decide how many points each of the users will receive.

The users can store their points or spend them immediately on features such as custom emojis, gifs, comments, and badges. The spokesperson from Reddit talked in an interview with CoinDesk and explained why Reddit launches this idea:

 “We continuously run experiments to explore features that engage our users and communities. With Community Points, we’re working exclusively with two communities to test this feature and gather feedback from our users.’’

In addition, the users can leave a tip for a comment that they like or some posts they see as interesting or educational. They will be able to transfer community points to another Reddit member’s Vault as well as Ethereum wallet address. The users will have to sign up to the ‘’Vault’’ which is the local blockchain wallet of the platform, by scanning a QR code through the Reddit app. According to the post, the community points will be controlled by the users which means the moderators of the platform are not able to take points away.

Reddit vault

Reddit’s Vault where users can store and trade their community points (Source: Reddit)

However, it can be hard for some members to see how much a user has contributed to the community with the points so Reddit hopes to fix this by making the entire process more transparent with a balance chart displayed right to their name. however, a private key is provided once the user creates the Vault which is stored on the smart device. If the user doesn’t create a back up of the key and losses the phone, they will be unable to reach their community points.

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