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Reddit could be the first major social network on blockchain

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The relationship between Reddit and blockchain seems to be getting closer.

After launching their tokens on Ethereum (the so-called Community Points), Reddit is now announcing another initiative linking the social network born in 2005 with blockchain.

The initiative was launched by LiquidApps, a company that operates with blockchain technology, which announced a token reward for those who will help the DAPP network to participate in Reddit Scaling Bake-Off.

The Great Reddit Scaling Bake-Off is an initiative of the Ethereum subreddit, in collaboration with the Ethereum Foundation, thanks to which Reddit is inviting scalability projects of the Ethereum network to show the community how to use scaling solutions to attract Community points on the main network.

The problem to solve is cHow to quickly and inexpensively manage tokens that could be distributed to Reddit's 430 million monthly users, starting at a few hundred thousand.

LiquidApps proposes the DAPP network as a possible solution, in particular thanks to the LiquidLink update.

To promote its candidacy, LiquidApps is offering a million DAPP tokens for individuals or teams that can demonstrate that DAPP network scaling middleware can work successfully on Ethereum.

To date, 1 DAPP is worth approximately $ 0.013, making one million DAPP more than $ 13,000.

However, LiquidApps on its official blog also says:

"When it comes to specific use cases where blockchain could add great value, social media immediately springs to mind. Reddit is leading the way for established social media platforms looking to decentralize as it recently announced the Great Reddit Scaling Bake-Off to scale its existing community points program on Ethereum. By doing so successfully, Reddit could become the first company with hundreds of millions of users to successfully migrate to blockchain. ”

In other words, according to LiquidApps, the Reddit initiative would not be limited to marginal management of token distribution, but would instead support a deeper strategy to increase decentralization.

Actually, this is just a hypothesis for now, but if Reddit Community Points were to really succeed on the Ethereum blockchain, despite the 430 million users, it would hardly be just a fringe initiative.

On the contrary, it could become one of the main characteristics of the social network, and since centralization is, for all intents and purposes, one of the main problems that these platforms have to deal with today, a possible success of Community Points on Ethereum could push the company that owns Reddit to seriously consider blockchain as a solution to other problems as well.



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