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September 23, 2020
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The use of Ethereum by Reddit will have a very positive effect on cryptocurrencies – says Coinbase CEO – Blocksats

Brian Armstrong, CEO of one of the largest cryptocurrency exchanges on the Coinbase market, believes that the use of technology Ethereum through Reddit will have a very positive impact on the cryptocurrency world.

Reddit bets on Ethereum

We know that Reddit wants to introduce the so-called “Social Points”, a new type of loyalty token and also a type of internal portal currency. As a result, users of the company’s platform will be able to reward other community members with blockchain-based tokens. In this way, they will be able to thank them for interesting content and posts published on the portal. The “social points” feature will be available on r / FortNiteBR and r / CryptoCurrency, which bring together millions of forum members.

Armstrong says this is an early signal that adoption blockchaina and cryptocurrency has become a fact.

It is worth adding, however, that the “social points” system is still in beta today, and these – in the form of tokens – are registered in the Rinkeby test network. The tests will last until summer 2020. Then they will be transferred to the main Ethereum network.

“It’s a big deal for cryptocurrencies – Reddit has started integrating cryptocurrencies”

Says Armstrong now

Slowly moving the ball

Armstrong believes that this is all the effect of the slow evolution and development of the cryptocurrency market.

– For all the people who asked me “where are the use cases?”, This is how it looks over the years. A lot of hard work of people, integration of cryptocurrencies with real products. Slow, gradual improvement of the situation, moving the ball one meter per day – there is no moment of a big explosion – he explained.

He added that he thought what Reddit was doing now was “A model for other cryptographic startups to launch a token that helps bring together an online community and provides real value.”

Finally, the internet has native currency. It works people! – he thinks.

Current course You can always check Bitcoin and other cryptocurrencies in the tabs: course Bitcoin and cryptocurrency exchange rate on Bitcoin.pl. A place where you can buy Bitcoin and other kryptowaluty, include cryptocurrency exchange BitBay.net. If you don’t have a BitBay account yet, this article will show you how to create one efficiently: LINK.

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