A new Reddit feature is here! Allows 500 million users to request tokenization of community points

Recognized as the largest distribution platform for American internet users, Reddit is a fun, social, and news platform that allows users to chat and post on web forums. The forum content covers a wide range of subreddit topics (also known as subsections). In June 2021, Reddit was the 14th most visited website in the world with more than 2.3 billion monthly visits.

According to reports, expert Rahul tweeted in November that he was planning to convert community content from 500 million internet users into ERC-20 tokens, and publicly announced that this was one of the current activities. from the crypto group Reddit.

A month later, Reddit's token rewards program arrived with some good news. According to a report from "Cointelegraph", Reddit has announced a waitlist for the Community Points Token Rewards program and extended website functionality.

Subsections can be used to create their own tokens. As KarmaPoints always have, users can earn tokens by posting or downloading important content or by volunteering to contribute to the community.

Reddit now agrees that content tokens are still in the testing phase, but users are breaking site rules, acting cautiously and not selling, trading, or trading content. And further: the content is still in testnet. These actions are very dangerous. Content may or may not be migrated to the Ethereum mainnet.

In fact, in December 2019, the platform took its first step towards cryptocurrency rewards. The Labs Arbitrum Network has transferred two sub-versions of Ier / cryptocurrency and r / FortNiteBR (total of approximately 80,000 user community point tokens) from Reddit to the Rinkeby test network of Arbitrum and is working on their tokens, moons and bricks.

Switch to the Ethereum mainnet

The community credit token program is currently running on the Ethereum Rinkeby test chain, and Reddit plans to move to the Ethereum mainnet through Arbitrum, the Ethereum Layer 2 scaling solution.

It is understood that some test token holders ignore Reddit alerts and have tough plans to convert them to fiat, and when the giveaway is sent to the mainnet, the tokens will soon be gone. Trade, hold and trade on another trading platform.

Special membership and newsletter features are available for purchase

On the official site, Reddit users can sign up for the waitlist, and when the beta is released, community features will be added to the section.

In addition, all sections participating in the program can activate special partnerships, which users can purchase from Community Points tokens, which allow tokens, GIFs, graphics and more. Heavier voting has been added, allowing users with more community content (more involved in that content) to have a greater community voice.

“The content of the community will be a criterion to measure the reputation of the community. In the future, this will mean using your brand on subreddits, allowing participants to share your content. Communities stand out from the crowd. "

These tokens are locked into a personal chain that allows users to view, use, and access community content in the app at any time. Due to the information in the blockchain, users will always share their reputation history on the network.