Reddit Teams Up With Ethereum Foundation

Reddit is looking at ways to use blockchain to expand its services, and ensure that people can express themselves freely.

The company has shown interest in blockchain in the past when it planned to introduce its own cryptocurrency to reward its users for engaging with the platform in March 2022 and then in August when it launched its Scaling Bake-Off competition.

This popular online forum teamed up with the Ethereum Foundation to develop an open source scaling solution for its platform. Many people are looking for new ways to store data, and Ethereum offers new technologies for various industries.

The competition allowed the Ethereum community to submit proposals on how to improve Reddit’s crypto rewards program, with projects like OMG, Matic, and Solana taking part in it.

Reddit’s Interest in Cryptocurrencies Is Not New

While this event demonstrates the interest that Reddit has in rewarding its users with crypto for creating quality content and engaging with the community, no official partnership has been announced as of yet.

Reddit’s experiments with its own token have been limited to the r/Cryptocurrency and r/FortNiteBR subreddits, which make up less than 1% of the total user base.

Now, Reddit has entered into a partnership with Ethereum Foundation officials who appear to be aiming to take the next step in implementing the rewards program to the entire platform.

Bringing Ethereum to Reddit Scale Production

With this new partnership, Reddit is renewing its commitment to blockchain to help Ethereum grow its development ecosystem while exiting the rewards program introduced on the forum in 2022.

A dedicated team has been formed by Reddit to handle everything cryptocurrency related. Because of this, the company is currently looking for individuals who are interested in participating in the creation of a “decentralized Internet” and “bringing blockchain to millions of users.

According to “jarins”, a member of the crypto Reddit team and administrator of the r/Ethereum subreddit, the goal behind this partnership is to accelerate progress being made in terms of escaping and developing the technology needed to launch large-scale applications.

Reddit has committed to making all the scaling technologies that result from this partnership available free of charge and open source for developers and companies around the world to leverage and improve.

Decentralized Communities Could Be The Future

While Reddit claims to have a decentralized mentality, and it does to the extent that its forums are organized in thousands of small communities with their governance and rules, the company still operates as a central authority and can moderate these communities at any time. .

With the events unfolding from the last Presidential election in the United States and the actions taken by tech giants like Facebook and Twitter, the debate around free speech and internet moderation is getting stronger.

While platforms like Parler promise their millions of users to be bastions of free speech and offer shelter to those who leave mainstream platforms, third parties like Amazon Web Services are adding pressure on them to moderate their content or take down their servers.

The denial of web infrastructure and services to these seemingly unpopular opinions could encourage the development of new platforms that do not allow censorship of any kind.

Away from Centralized Social Media?

This event is nothing new, as communities like 4chan have experienced backlash in the past for lack of moderation and the type of content their users share, even shutting down before.

Decentralized social media platforms are gaining more and more attention as a result of these themes over the past few months due to the inherent advantages of free speech.

Twitter is looking into the option of creating an alternative blockchain-powered decentralized platform under the Bluesky name, although based on the company’s censorship records, free-for-all social media with the Twitter development team behind it seems like the way out.

While the current global situation has proven to be fertile ground for the entire blockchain and crypto ecosystem, it remains unclear whether this will result in mass adoption of decentralized platforms.

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