Social Giant Reddit Expanding Ethereum-Based Crypto Program, Rolls Out Waiting List

Popular social media network Reddit is rolling out a waitlist for users and moderators to participate in its expanding Ethereum-based Community Points program.

According to its website, the program would allow members of eligible subreddits to earn reputation points and own a piece of their favorite community via customized crypto tokens built on the Ethereum blockchain.

“Community Points are the first step towards a different future for online communities.

These tokens live on the blockchain, which means they are truly owned by the community.

Over time, your community will benefit from even greater control and independence on – and off of Reddit.”

Reddit users can earn points by participating in discussions, winning community contests, and posting quality content.

Redditors can use the points they’ve earned to partake in a subreddit’s decision-making process, pay tips to content creators, and unlock special membership features.

According to Reddit, this is a way for users to accumulate value for the time and effort put into subreddits.

“Earn something valuable for all the hours you put into your community.

Community Points are a way for Redditors to own a piece of their favorite communities.

Moderators and content creators earn points by contributing to the community, and they can spend their points on special features, display their points as reputation in the community, and vote with their points to weigh in on community decisions.”

The launching of the waitlist comes after the social news titan announced earlier this year that it would be partnering up with the Ethereum Foundation to incorporate the top altcoin into Reddit.

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Featured Image: Shutterstock/Stock_VectorSale/Natalia Siiatovskaia

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