Reddit is transitioning, coming to the 3.0 site

For more than a year, Reddit has been working to transform its Community Content into tokens on the blockchain. Its goal is to make its communities more accessible by providing energy, decision-making and finance, to its users.

According to Rahul, an expert at Reddit, the project will be ready soon and 500 million users will have access to the world of cryptocurrencies. In addition, these points will work for the community to decide, including the distribution of subreddits in the event of a dispute.

This change in the interplay of relationships, goes far beyond the reaction-like nature, marks the transition to Web 3.0, putting more power into the hands of its customers. use. After all, they are the most important part of any platform.

500 million users

A Reddit expert reported on Wednesday (3) that using the blockchain through the platform would allow 500 million users to have access to cryptocurrencies. Today cryptocurrencies related to subreddits such as r / Bitcoin and r / CryptoCurrency are already very strong.

“It’s time to take control. Make the internet really open and free. Give each of us a member of what we use. “

Twitter engineer at Reddit Exchange. Source: Twitter

This is also another exchange arising from cryptocurrencies, allowing financial users to interact with the creators of free content. With regard to the future of their own communities.

This change is related to migration from Web 2.0 to version 3.0, which, among other things, is closer to distribution. The first Reddit announcement focused on the use of ERC20 tokens, via Ethereum, and they seem to be following this plan despite the current high network costs, looking for a second solution such as Arbitrum.

In addition, Reddit recently opened two jobs for engineers, Android and backend, both related to the “NFT Platform”. Check out the next phase of the update as more people and companies enter this market.

Content creators will get the most out of it

Reddit is not the only solution to make its relationship better for its users. Recently, Twitter implemented the concept of using Bitcoin’s lightning network, allowing content creators to receive free donations from their followers.

However, it should be noted the differences in the methods of these two platforms. While Jack Dorsey, CEO of Twitter, is a Bitcoin-only target, Reddit seems to be working more openly with its own tokens, meaning its success is totally tied to its platform.

Finally, we are facing the first steps towards a greater online distribution where users themselves benefit from their efforts to create content and attract an audience. for the platform they use.

Leave a Comment