The popular social network Reddit, which has more than 1.7 billion monthly visits, is expanding its relationships with Ethereum through its first-ever blockchain partnership.
According to the announcement by the Reddit u / jarins official, the goal of the partnership will be to increase the site’s commitment to the blockchain, accelerate the scalability and resources of the Ethereum ecosystem, and bring the value and independence of blockchain technology to millions of redditor users. ”
In 2020, Reddit has already started two major projects focusing on Ethereum. The first, an app called Community Points, was a rewards system that rewarded editors with ERC-20 tokens for providing engaging content on the platform. Reddit then pursued this competition – The Great Reddit Scaling Bake-Off – in search of technical solutions for Ethereum scaling that could help apps like Community Points move to the mainnet and eventually expand the network’s 400 million+ users. Per month.
In this next phase of a more formal engagement with the Ethereum Foundation, the focus will be on developing scaling technology that can support large applications such as community nodes on the Ethereum blockchain. The project will lead Reddit’s coding team, and the announcement will request all backend engineers interested in scaling and interested in joining the coding team at Reddit to help their work develop a more decentralized internet. All measurement technologies developed under the new partnership will be open to the public.
According to the post, the social results are currently in beta on the Rinkeby network and are being tested in r / Cryptocurrency and r / FortNiteBR. Reddit sees the app as “the first attempt at using decentralized technology to empower people to create a sense of greater responsibility and responsibility in the societies in which they create and contribute.”
Redditors made headlines in recent days about their daily curated campaign to increase stocks on the GameStop game store, and wash veteran hedge funds in the process.