Popular discussion forum
Reddit is among the world’s largest user forums. They have over 330 million active users each month. With Reddit, you can find a ‘sub-reddits’ for almost any topic you can think of. A user can share groups, fan pages, sports, conspiracy theories and political discussions. We have seen Reddit threads be the start of citizen journalism, where some have access to exclusive information, and share it so that one can ‘crowdsource’ the work.
Reddit has now announced a competition, finding the best scaling solution on the Ethereum blockchain. The purpose is to find a protocol that can form the basis for their ‘Community points’. Now they will obviously monetize the platform from the bottom up.
Make money on good content
A user can earn ‘Community Points’ by earning a certain number of ‘upvotes’ on an article or text. It will encourage the production of good content and participation in various debates with a large audience.
When it comes to choosing a scaling solution, Reddit went to the market and asked the players if they could participate in a competition. The very first scaling solutions, or so-called L2 (layer 2 solutions), has been developed with a view to serving the stock exchange and marketplaces. They therefore have different qualities that are not always adapted to a user forum, where the cost of creating, sending and storing tokens must be minimal. Few would pay 1 kroner to vote for an item, but might if it is broken down into penny sums. It is therefore out of date to pay a fee for storage and transaction.