The popular social media network Reddit, which has more than 1.7 billion monthly visits, is strengthening its ties with the Ethereum Foundation. The first-ever blockchain partnership between these two parties has been formalised.
Reddit then followed this up with a contest, The Great Reddit Scaling Bake-Off, which sought applications to help Ethereum scale better. The fact that Ethereum scales is a side issue, it was actually about growing the Community Points. These should grow to the mainnet and eventually be used by all 400+ million monthly users of the Ethereum network.
Blockchain for millions on Reddit
According to an announcement by Reddit admin u / jarins, the goal of the partnership will be to increase the site’s commitment to blockchain, accelerate the scaling and resources for the Ethereum ecosystem, and bring the value and independence of blockchain technology to millions of redditors. In 2020, Reddit already launched two major Ethereum-focused projects. The first, an application called Community Points, was a reward system that rewarded redditors with ERC-20 tokens for contributing engaging content on the platform.