Netizens broke the news today that Reddit may deploy a brand new blockchain credit system in its app.
Reddit user MagoCrypto released a video showing the status of the new version of Reddit app, which includes the function of community points. When you click on the FAQ of this app, you will find out about distribution, wallet, backup and reply, and content on the blockchain.
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This unconfirmed video indicates that Reddit may be trying to use blockchain or a reward function related to cryptocurrencies.
About a year ago, Reddit piloted a "community points" program, which rewards users based on their participation on the platform. It first runs on the r / ethtrader sub-section, and then goes to the r / Stellar community.
Although the initial trial gained the support of the community, after the netizen released this video, many users' attitudes showed that they were unwilling to use the blockchain in order to catch up with the trend. There are also users who are curious about which blockchain Reddit will use or whether Reddit will develop its own chain. The fundamental question throughout the discussion is "Why use blockchain?"
Some people asked, "Which blockchain?" Although there is no evidence to support it, many users give the answer as Ethereum.
Reddit building a blockchain-based ecosystem may be a big step towards mainstream adoption. As of February 2020, Reddit had over 1.3 billion unique visitors; during December 2019, Reddit ’s active users reached 430 million.
According to a Comscore survey, 38% of Reddit users consider themselves to be technology enthusiasts. r / Bitcoin has more than 1.4 million subscribers, while r / Cryptocurrency has less than 1 million subscribers.
At present, Reddit users can use the BAT to reward through the Brave browser, but this function is unilaterally initiated by the Brave team. Twetch is a social media platform of Bitcoin SV, similar to Twitter, and Hive is a hard fork of the Steem blockchain. Both projects have rewards in their respective communities.
Reddit has not yet responded to this video.