Reddit will move tokens to the Ethereum core network using Arbitrum

July 23, 2021

Reddit will move tokens to the Ethereum core network using Arbitrum
Social content platform Reddit will test Ethereum's second-tier solution Arbitrum for its own Community Points programme.

We are ecstatic to announce that @Reddit is scaling Community Points on @ethereum using Arbitrum!

According to a report, Reddit plans to move tokens into the Ethereum core network in the future. The first phase involves a testnet.

   "You'll notice that transactions are much faster, and once Vault is created you won't have to request [tokens] MOONS/BRICKS on a monthly basis. They'll just appear in your vault like magic," Reddit officials said.

According to them, the choice of Ethereum's second-tier Arbitrum solution is due to its "complete decentralisation" and security. Reddit also pointed to the endorsement from the developer community and called Arbitrum "the most promising scaling technology for Community Points".

In 2020, the platform launched its own ERC-20 standard tokens - MOONS and BRICKS - to reward users of r/Cryptocurrency and r/FortNiteBR subreddits for quality content and community engagement.

At the same time, Reddit asked Ethereum developers to help scale the Community Points program.

As a reminder, in January 2021, the content platform announced a partnership with the Ethereum Foundation to develop blockchain scaling solutions for the second-capitalised cryptocurrency.

Reddit will move tokens to the Ethereum core network using Arbitrum

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About the author

Hi there, my name is Zalman Weinberg. I'm enthusiast with over 7 years of experience in cryptocurrencies and blockchain. Professional Trader providing Blockchain solutions to Startups and Enterprises. Expert in all cryptocurrency exchange APIs (BitMEX, Bittrex, Binance, Bitfinex, Kraken, Poloniex, Gdax etc.). I have also worked with multiple Forex broker APIs.

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