Reddit first focused on blockchain technology last year, hoping to expand its upstart cryptocurrency rewards program. Now, the popular discussion community has formally established a connection through an official partnership with the Ethereum Foundation.
These organizations previously participated in the aforementioned Scaling Bake-Off competition, in which many blockchain developers proposed methods to develop the Reddit's Community Points program, which rewards users for "quality" posts and comments.
The official alliance officially announced today aims to help Reddit continue its efforts to expand the rewards program while helping to develop the Ethereum development ecosystem. As per Reddit, considering the community created by thousands of users on the site, it also maintains the decentralized mentality of the site.
"In this new stage of our partnership, immediate efforts will be focused on bringing Ethereum to Reddit-scale production," reads Reddit's press release. "Our intention is to help accelerate the progress being made on scaling and develop the technology needed to launch large-scale applications like Community Points on Ethereum. The scaling technology developed through this partnership will be open-sourced and publicly available for anyone to use."
The Community Points system was introduced only two communities in May last year, namely r/CryptoCurrency and r/FortNiteBR, which accounted for less than 1% of Reddit's huge user base. Currently, it is only used in these two communities, and the system runs on the Rinkleby Ethereum testnet in beta. As per today's release, Reddit currently has 50 million daily users, and last year’s monthly users were approximately 430 million.
Reddit's own crypto team will work with the Ethereum Foundation to lead the development of the project, and is recruiting backend engineers "who want to build the decentralized internet." It is expected that there will be further announcements in the coming months.