Is Reddit Adding Blockchain-based Tipping And User Wallets, Real Feature or Clever Mockup?

American social news aggregation and discussion website, Reddit, might finally be integrating a blockchain based system aiming to allow users to tip using crypto. The reports arise from a posted video earlier on April 9 on the platform by Redditor, MagoCrypto.

Reddit is implementing a points system on the blockchain! (Official Reddit app on Android) from CryptoCurrency

Reddit recent reports to switching to the blockchain system, is a big switch from the once crypto-unfriendly social media site. The app apparently banned cryptocurrency ads on its platform back in 2016. However, the recent news gives hope to users as a video emerged of experimentation using blockchain or a cryptocurrency-related to rewarding posts.

Reddit is trying to roll out a blockchain-based points system where like most cryptocurrencies the points will have value. Each user through their accounts will be able to see their points. If Reddit can successfully incorporate blockchain onto its ecosystem, needless to say that would be a giant step towards its mainstream adoption generally.

It’s not yet fully clear though on the authenticity of the posted video since Reddit hasn’t yet officially commented on the same. To add on top of this, no clarity has been issued on which blockchain they are using. One of the top comments on their platform simply asked “Which blockchain?” but none could clarify on the same which invites a lot of uncertainty.

As reported, the points will have value and apparently can be sent to other Redditors as cryptocurrency. Redditors out there are still in the dark however on whether these points can be sent outside the Reddit app. Regardless of all lingering questions and those that may arise sooner, the points might bring on board other different functionalities on the Reddit scheme. Reddit’s development as a website will highly be contributed by the speed in which all these uncertain questions will be brought to light.

With r/Bitcoin boasting 1.4million members and r/Cryptocurrency at 994,000, its evident that Reddit has for a considerable amount of time been a popular source of viable information for cryptocurrency projects. Though we might have to wait and see, it is the hope of all crypto-loving Redditors that the new blockchain-based system will come good.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Lujan Odera
Lujan Odera
Lujan is a blockchain technology and cryptocurrency author and editor. He has worked in the field of cryptocurrencies and blockchain technology since 2015 helping him gain enough experience to be the writer he is today. He is known for his simple writing style that allows novices to understand the field in the simplest way.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

LEAVE A REPLY

Please enter your comment!
Please enter your name here

3,511FansLike
2,795FollowersFollow
4,269FollowersFollow

Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Kanye West and Kevin Hart Gives Bitcoin (BTC) a Shout Out

Over the weekend, Bitcoin got a shout out from two celebrities. The first one came from Kanye West, who appeared on Joe Rogan’s popular podcast...

Ethereum 2.0 Deposit Contract Almost Ready, Awaiting NCC Group Audit Approval

The Deposit Contract of Ethereum 2.0 is almost ready, according to Danny Ryan, a researcher from the Ethereum Foundation. He revealed this development when...

DeFi Harvest Finance Total Value Locked Halves & FARM Tanks Following ‘Economic Attack'

Another day, another DeFi exploit. It was last week that the less than two-month-old Harvest Finance saw its total value locked (TVL) surge to $1.175...

Crypto Market Sentiments Do A 180; From Fear to ‘Borderline Euphoric' Following Bitcoin Rally

Since surging last week to hit $13,000, Bitcoin has been keeping around this level. More importantly, over the weekend, Bitcoin made its first close above...

Biggest News of the Week: Going Mainstream or A Sacrifice in the Name of Pump?

This week, the big news came in the form of PayPal announcing support for cryptocurrencies. Not only the payments company would allow its users to...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today