Everything You Need to Know About Reddit’s New Blockchain-Based Community PointsThe “Front Page of the Internet” is using Ethereum for a pilot program of its new reputation system. Here’s what it means for Redditors and for mainstream blockchain adoption.
By Coogan Brennan, Technical Trainer at ConsenSys Academy
A few weeks ago, Reddit announced a new pilot program built on Ethereum. It’s great news for adoption and we wanted to dig in a bit more into the background…What’s Reddit Again?
Reddit is a collection of discussion boards (called subreddits) on various topics where members can upvote or downvote posts. It has an enormous (and devoted) userbase with 430 million monthly active users and 150 million pages visited each day. Reddit proclaims itself to be “The Front Page of the Internet” and it’s kinda true: viral videos and stories that you read on Buzzfeed or see syndicated on local news often come from Reddit.
Along with its massive popularity and influence, it’s important to understand Reddit’s reputation system for its users, called Karma. When you submit a post and it gets a bunch of upvotes, you get more Karma points. When your post gets downvoted, you get less. Karma is a coveted metric as it can increase the number of people who see your posts. It’s also a point of pride for users. More Karma means you’ve used Reddit for a while and people support your posts.What Are Community Points?
Earlier this month, Reddit announced they were launching a pilot program called Community Points. Community Points, in the words of Reddit, allow users to “earn Points by contributing to the community, for example by submitting quality posts and comments.”
Sounds like the existing Karma reputation system, right? Well, there’s a twist. Reddit has built their Community Points on Ethereum, the blockchain network. Community Points are digitally represented as tokens on the blockchain: 1 Community Point on Reddit is mirrore...