Reddit Partners With Ethereum Foundation to Scale Tokens For Users

Vandana  |  Jun 19, 2020

Reddit, a popular social content platform recently entered into a partnership with Ethereum Foundation. This partnership has been formed to find out various solutions to scale tokens for its 430 million users. This will be done with the help of community points rewards system which is powered by Ethereum. The firm had announced on June 19 that it is searching for the developers that can help the firm to scale the tokens for its users. Along with this Reddit has also specified that it will accept all the applications from various developers till July 31, 2020.

Reddit has some unique requirements

In the recent announcement, Reddit has specified all the unique requirements that it is looking for. The firm has also made it clear that currently, it is not in a position to determine exactly what kind of solution it needs and what will be the best solution. It has also emphasized that most of the Ethereum scaling solutions are directed towards the exchanges. According to the firm, a lot of designs and applications do not consider the cost required for obtaining the tokens which are quite a big aspect.

Scaling experts to submit demos

While announcing this partnership, Reddit has also invited all the scaling experts of the Ethereum community to submit their respective demos in the comment section of the announcement. It has also specified that the experts need to keep in mind the Community Points usage for around 100,000 users while creating the demos. In the requirements, it has also been stated that all the demos should also include a live proof of concept.

Back in May, Reddit has already announced that it is planning to shift its points system to the Ethereum mainnet in this year only. It has been reported that around 17,413 users have now signed up for its rewards system.

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