The Reddit blockchain points system will be developed based on Ethereum and will only run in one community

Reddit user MagoCrypto updated more information about the Reddit blockchain scoring system. The scoring system will be developed based on the Ethereum blockchain and will only run in a community on the Reddit platform. The news has been officially confirmed by Reddit. The points will be similar to the current Karma system, and can be obtained by voting and posting. According to the screenshot video released this time, “Points will be an indicator to measure the reputation and contribution of the internal community. The number of points will be displayed on the users who post and comment Next to the name to highlight important members of the community. ”The difference is that the points based on the blockchain will have practical value. Users can spend points to buy members in the community. The member functions can unlock specific functions in the community, including badges and animations. Emoji and GIF. Once used, the points will be destroyed, thereby increasing the value of the remaining holders’ points, ensuring that the purchase of membership will reward the entire community. The initial distribution of points will be based on each user’s original Karma score, similar to most ICOs, and some of the points will be owned by the developer. The Reddit platform will draw 20% of points, while community administrators will draw 10% of the shares. The points will promote a bitcoin-like economic policy, with an initial allocation of 50 million points and an additional 50 million points in the first year. After that, the number of points distributed each year will gradually decrease, and the total circulation will reach 250 million points.