Is Reddit Devising a Blockchain-Based Tipping System?

newsdesk - April 9, 2020 - Blockchain Technology /

Reddit could be about to implement a new blockchain-based points system on its app, if a screen recording posted in the Cryptocurrency subreddit today is to be believed.

Redditor MagoCrypto posted the video, which is a walkthrough of a new build of the Reddit app that shows a feature with mention of community points. When delving into the FAQs of the wallet feature there appear to be pages on distribution, wallet, backup and recovery, and on the blockchain.

Screenshot of the video. Source: Reddit

The video, which has not been verified, suggests Reddit may be experimenting with using blockchain or a cryptocurrency-related to rewarding posts.

Previous points systems 

Approximately one year ago, Reddit trialed a “community points” initiative which saw users rewarded in community points for their engagement on the platform. It was first run on the r/ethtrader Reddit community, followed by on the r/Stellar community. 

Although the initial runs garnered support from the community, this recent video shows many users reluctant to incorporate blockchain for the sake of using a buzzword. Other users are curious about which blockchain will be used or if Reddit will develop its own. The underlying question permeating the whole thread is “why blockchain?”

One of the top comments simply asks, “Which blockchain?,” to which numerous users responded, “Ethereum,” although none could provide any evidence to support the claims.

A blockchain-based ecosystem on Reddit could be a large step towards mainstream adoption. In February 2020, over 1.3 billion unique visitors opened Reddit.com, with 430 million active users reported during December 2019.

According to Comscore, 38% of Reddit users consider themselves technology lovers. r/Bitcoin has over 1.4 million members, with r/Cryptocurrency sitting just shy of 1 million members.

Reddit readers can already tip posts with Basic Attention Tokens (BAT) through the Brave Browser, although this function is entirely initiated by the Brave team. Twetch, Bitcoin SV’s Twitter-like social media platform, and Hive, the hard fork from the original Steem blockchain feature tipping functions in their respective communities.

Reddit has not immediately responded to Cointelegraph’s request for comment. This article will be updated with more information if we receive a response.

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