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- Reddit is planning to strengthen its ties with the Ethereum Foundation
- It will aim to escalate the scaling and resources for the ecosystem of Ethereum
- Reddit’s in-house crypto team will officially lead the project
Reddit is a social news platform that facilitates discussion and web content rating. The social media network suggests the goal of the collaboration is to escort Ethereum to Reddit-scale production.
Reddit’s first-ever collaboration with blockchain
The renowned social media platform Reddit witnesses over 1.7 billion visits every month. The entity is now planning to strengthen its ties with the Ethereum Foundation. It has, thus, officially finalized its debut partnership with blockchain.
Per the announcement from Reddit admin u/jarins, the partnership will focus on the strengthening of the website’s dedication to the blockchain. It will also aim to escalate the scaling and resources for the ecosystem of Ethereum. Further, it will seek to bring the worth and autonomy of blockchain platforms to millions of Reddit-users.
Reddit’s two giant projects
In 2020, Reddit initiated dual, massive projects that were based primarily on Ethereum. The first was an application called Community Points. It was a system of rewards that credited Redditors with tokens of ERC-20. They meant to applaud the contribution of their engaging content to the website.
Reddit then followed this path by announcing a competition. The competition was called Great Reddit Scaling Bake-Off. It was about the submission of solutions associated with Ethereum scaling technology. The primary motive expected of these solutions was to support applications like Community Points development to mainnet.
With this new step of a more standardized engagement with the Ethereum Foundation, the aim will be to advance the scaling technology that can help large-scale applications on the Ethereum blockchain. Reddit’s in-house crypto team will officially lead the project.
The announcement involves a plea to all backend engineers who are intrigued by scaling. Further, they should be interested in connecting with the crypto team of Reddit. It will require them to help the company with enhancing a more decentralized internet. Moreover, the entire scaling technology created out of this collaboration will be available to the public as an open-source.
Recently, Redditors have been making major news due to their interrelated day trading project. It intends to push shares in the game retailer entity GameStop. Thus, it will be interesting to observe what new enhancement do Ethereum Foundation adds to the existing platform of Reddit.
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.
