Reddit blockchain points system details exposed: running on Ethereum, total points 250 million, redeemable member benefits

According to previous news, according to a video released by Reddit user MagoCrypto, Reddit may launch a blockchain credit system on its application. More details show that the system is called "Community Credits", will run on Ethereum, and will give each user an Ethereum wallet and use ERC20 tokens. In this system, points are a measure of a community ’s reputation and contribution. In order to highlight the most important members of the community, the point balance will be displayed next to the username of the post and comment. Similar to the token distribution method of most ICOs, part of the points will be distributed to the creators of the posts, and users with points can not only be used to vote, but also purchase special membership permissions for the community, including badges, animated emoticons, and GIF . These points will be destroyed after use, the total amount of deflation. The system has designed a halving mode similar to Bitcoin. The information shows that the initial distribution of points is 50 million, and the first year is 50 million, and then the number of new points will decrease each year, up to 250 million. According to Decrypt, Reddit has confirmed that it is indeed developing such a system, but it is currently only considered for use in one community. There is currently no more information about this feature. From the comments, you need to apply to join the beta program to experience this feature. It is understood that as early as a year ago, the community was discussing Reddit's creation of a blockchain-based user credit system. The application includes a "wallet" menu option.