In a bid to create a more user-centric social media platform — "a free borderland" — Reddit has introduced its new community points arrangement built on top of the Ethereum blockchain.

In a slide presentation shared Wednesday, May 13th, Reddit announced that Redditors will now be able to earn rewards in the class of ERC-20 tokens based on Ethereum blockchain for creating engaging content on the platform. This confirms claims that many users made in April virtually Reddit coming upward with a blockchain-based reward system.

Users will have the freedom to either save their customs points or utilize them to buy premium community features such as badges, custom emojis, and GIFs in comments.

Each user's customs points will be visible beside their username in the comments section to add more transparency regarding their activity and reputation on the platform.

Community controls the advantage system

According to the announcement, Reddit community members will exercise full control over community points. While Reddit karma volition provide a basis of a user's appointment within the community, the community will be the ultimate decision-maker as to who receives what corporeality of points for their contribution.

Reddit also assured users that it has no access or command over their community points, as points will be based on a blockchain and independently stored in users' wallets "only similar Bitcoin!"

"Neither Reddit nor moderators can accept your Points away or decide what you do with them. It'due south all up to yous," they wrote.

Moving forrad

At nowadays, the customs point arrangement is in its beta phase and is based on Rinkeby — an Ethereum testnet. During this period, Reddit will carry experiments within Reddit communities to take inputs from community members and have a more than wholesome approach towards finalizing how the reward organisation volition work.

Afterwards the beta phase, Reddit will motility the community betoken organization to the Ethereum mainnet and all points of users will exist carried over, which they will have to reclaim.

With more than 1.5 billion monthly visits, the integration of an Ethereum-based points system into Reddit could bear witness to be a major boon for the wider adoption of cryptocurrencies.