{"id":15146,"date":"2021-12-09T20:54:08","date_gmt":"2021-12-09T20:54:08","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/reddit-introduces-eth-based-community-points-beta-program-with-custom-tokens-for-subreddits\/"},"modified":"2021-12-09T20:54:08","modified_gmt":"2021-12-09T20:54:08","slug":"reddit-introduces-eth-based-community-points-beta-program-with-custom-tokens-for-subreddits","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/reddit-introduces-eth-based-community-points-beta-program-with-custom-tokens-for-subreddits\/","title":{"rendered":"Reddit Introduces ETH-Based Community Points Beta Program With Custom Tokens for Subreddits"},"content":{"rendered":"

The popular forum and news aggregation web portal Reddit has revealed the firm\u2019s Community Points beta program where Reddit users can \u201cown a piece\u201d of their community with \u201ccustom tokens\u201d for subreddits. <\/strong><\/p>\n

Blockchain-Backed Reddit Community Points: \u2018The First Step Towards a Different Future for Online Communities\u2019<\/h2>\n

At the end of July, Reddit announced<\/a> that the platform\u2019s Community Points system would leverage the Layer 2 (L2) protocol Arbitrum. This week, Reddit revealed a new website that features the Community Points beta program<\/a>, which says that Reddit patrons will be able to leverage native crypto assets tethered to unique subreddits. At the time of writing, there is a waitlist and users can sign-up via a form<\/a> Reddit created.<\/p>\n

\u201cCommunity Points are the first step towards a different future for online communities,\u201d Reddit\u2019s description of the new beta program notes. \u201cThese 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\u2026 on and off of Reddit.\u201d<\/p>\n

Reddit says that users can \u201cEarn something valuable for all the hours you put into your community, [and] unlock special features.\u201d Redditors can \u201cbuy community features with Community Points, like special memberships and awards, [and] encourage better content and conversation,\u201d the company details. Furthermore, Redditors can use polls and systems to figure out the Community Points distribution process. Reddit\u2019s website adds:<\/p>\n

Each subreddit creates its own Community Points token, with a custom name and symbol.<\/p>\n

Cryptocurrency Subreddit Likes the Community Points Concept, Most Popular Bitcoin Subreddit May Not Be Too Fond of Ethereum-Based Subreddit Tokens<\/h2>\n

In addition, Reddit says that people can \u201cown\u201d their reputation as the points system will be a \u201cmeasure of reputation\u201d in a certain community. \u201cIn the subreddit, they are displayed next to usernames, so the biggest contributors stand out from the crowd,\u201d Reddit explains. Community Points have been discussed<\/a> in specific forums<\/a> like the subreddit r\/cryptocurrency and a great number of the subreddit\u2019s subscribers liked the idea.<\/p>\n

It will be interesting to see whether or not r\/bitcoin implements a Community Points token as discussions of alternative crypto assets are banned from that subreddit. Moreover, many r\/bitcoin subscribers are not too fond of the blockchain Ethereum so using it for a Community Points system could be considered hypocritical. It\u2019s safe to say that many other crypto and non-crypto-related forums on Reddit will likely have no issues using the Ethereum-based Community Points program.<\/p>\n

What do you think about Reddit introducing the new Community Points program where subreddits will be able to create their own custom tokens? Let us know what you think about this subject in the comments section below.<\/strong><\/em><\/p>\n

Bitcoin News
\nNews, Arbitrum, Bitcoin, community points, Community Points system, Crypto, ETH-Based, ether, Ethereum, L2, layer 2, r\/bitcoin, r\/Cryptocurrency, Reddit, Reddit Company, Reddit Tokens, Subreddit Tokens<\/p>\n","protected":false},"excerpt":{"rendered":"

The popular forum and news aggregation web portal Reddit has revealed the firm\u2019s Community Points beta program where Reddit users can \u201cown a piece\u201d of their community with \u201ccustom tokens\u201d for subreddits. Blockchain-Backed Reddit Community Points: \u2018The First Step Towards a Different Future for Online Communities\u2019 At the end of July, Reddit announced that the…<\/p>\n","protected":false},"author":0,"featured_media":15147,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-15146","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/15146"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=15146"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/15146\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/15147"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=15146"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=15146"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=15146"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}