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 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.