Bitcoin

Reddit partners with Ethereum Foundation to scale token usage to 430M

Social news aggregation website, Reddit, has recently partnered with The Ethereum Foundation to call for projects and developers Ethereum scaling solutions.

Excerpts from Reddit:

“In conjunction with the Ethereum Foundation, Reddit is inviting Ethereum scaling projects to show the community how your scaling solution can be used to bring Community Points to mainnet. Our goal is to find a solution that will support hundreds of thousands of Community Points users on mainnet today and can eventually scale to all of Reddit (430 million monthly users).”

What is Reddit?

Reddit is a social news aggregation website headquartered in California, United States. According to Alexa, it is the 18th most popular website in the world. It is a huge collection of forums consisting of news, posts, and content.

What is Ethereum?

Ethereum is a cryptocurrency platform, second-largest by market capitalization in the world. It is an open-source, decentralized, blockchain-based software platform. It is used for its cryptocurrency- ether.

Who is partnering with who?

Reddit has a “Community Points” reward system, which is powered by Ethereum. The website needs Ethereum developers to scale up its Community Points system, which can be used by all its users. It has 430 million users on its website, all of whom should be able to use the reward system.

As explained by Reddit, the goal of this partnership is to find an answer to support within the platform, the thousand of community points it has on its website. It is accepting applications from developers until the 31st of July, 2020.

The website stated that it had evaluated some scaling solutions. However, it was unclear about determining the right solution. Reddit has also invited scaling experts from the Ethereum community to review demos submitted to the website and to understand trade-offs and “compromises between different solutions”.

The website will share the update by September 2020, hopefully with help to scale Community Points.

Excerpts from Reddit:

As written on the website, the demos should include:

  1. A live proof of concept showing hundreds of thousands of transactions
  2. Source code (for on & off-chain components as well tooling used for the PoC). The source code does not have to be shared publicly, but if Reddit decides to use a particular solution it will need to be shared with Reddit at some point
  3. Documentation
  • How it works & scales
  • Cost estimates (on-chain and off-chain)
  • How to run it
  • Architecture
  • APIs (on-chain & off)
  • Known issues or trade-offs
  1. Summary of cost & resource information for both on-chain & off-chain components used in the PoC, as well as cost & resource estimates for further scaling. If your PoC is not on mainnet, note any mainnet caveats (such as congestion issues).

Guidelines for Submission

  • The website also mentioned a few requirements and guidelines on submission. They included:
  • Scaling
  • Decentralization
  • Usability
  • Interoperability
  • Security
  • Other Considerations

Community Overview

Reddit has also posted an overview of how the Community Points works, currently. Some of the topics included in the overview were usage stats, contracts, deployed contracts and source code, point distribution and claims, and memberships.

The website is open to changing most implementation details on the condition that the basic requirements, as stated, are met.

In case you have a demo that meets the criteria, you can share a demo in the comments section of the post by the 31st of July, 2020.

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