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- Reddit is adapting to a huge increase in demand for its Ethereum-based ‘community points’.
- It has come to a partnership with Ethereum to find a Layer 2 scaling technique.
- Reddit posted it in the r/Ethereum subreddit on Thursday. This announcement made just before the full-scale release of Reddit’s community points services.
Reddit is adapting to a huge increase in demand for its Ethereum-based ‘community points’. Reddit is now looking to scale Ethereum blockchain, keeping in view that the platform is now grasping decentralization for its core services.
A blockchain for decentralized applications, Ethereum has always been looking for new and innovative scaling techniques. Subsequently, Reddit has come to a partnership with Ethereum to find a Layer 2 scaling technique. Reddit posted it in the r/Ethereum subreddit on Thursday. This announcement made just before the full-scale release of Reddit’s community points services.
The ‘community points’ allows users to collect points for their quality write-off to subreddits. To earn community points one need to accumulate ‘upvotes’ on posts, and they can be further used to redeem special GIFs or emoticons. Ethereum has already opened the new service in two subreddits, namely, r/Cryptocurrency and r/ForniteBR. This has been done just to check whether their service is working efficiently and without any complications.
Ethereum Scaling Issue Hindering its Adoption
A total of more than 20,000 transactions have taken place in a month by over 17,000 users in the two communities. These transactions exclusively included the Ethereum-based $BRICK and $MOON tokens. The content aggregators have, thus, come to an agreement with Ethereum Foundation and are demanding the developers submit their opinions in scaling the ERC-20 token standards. The officials have stated that their main objective is to scale up the community points services to all of Reddit so that 430 million users can avail it.
Ethereum, undoubtedly, has enormous potential, but still, the scaling issues are depriving the mainstream platforms of using the blockchain. Presently, Ethereum networks can handle 15 transactions per second. This figure said to improve with the launch of Ethereum 2.0, which will be using the Proof-of-Stake model.
Reddit expects proposals from developers on the community page by July 31st. That being said, Reddit has made it clear that there would be no prize if someone’s solution met with Reddit’s requirements. Conclusively, they stated that people should look at this as an opportunity to earn some fame.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
