Reddit and Ethereum are Working Together
Reddit and Ethereum are Working Together
Reddit and Ethereum are working together on a scaling solution to support potentially 430 million active users on a blockchain based reward system. It's not very clear if the token Reddit will use for their users will be an ERC-20 token or not, but considering they are working with the Ethereum community it might be safe to assume it's going to be the case.
Source: Reddit Asks Ethereum Community For Help to Scale Tokens for 430M Users
It's amazing how many active projects are in the pipeline for Ethereum currently. The fact that Reddit and Ethereum are working together is huge though and should be on everyone's watch list. Sure, the Vitalik and his team have Ethereum 2.0 as well, but we're talking 430 million users to bring into our wonderful crypto world!
Scaling Issues for Ethereum and Reddit's 430m Active Users
One of the biggest hurdles the Ethereum will obviously face when looking to scale to Reddit's 430 million active users is simply volume, I mean ETH could barely handle Crypto Kitties and now we're talking at a scale more than 10 times that size.
This issue could open up the door for other projects who have been looking to solve Ethereum's scaling problem such as The Raiden Network Token. At one point in time the team behind Raiden had more active commits on Github than any other blockchain project including Ethereum.
If RDN were to reach it's previous all time high, we're talking about more than 30 times a return on your investment! I am just speculating here, but this is exactly how you can win big in trading alt coins!
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I think they have to use something like loopring, semi-decentralized, regulator friendly L2. (I puked while writing this)
At the very least it's exposing many people who have the slightest clue what a digital wallet is, so that's a plus! Maybe then something like Hive will make more sense to many it didn't before, but I guess that's the best we could hope for!
hive doesn't have tokens, so that's out of the picture for now
It is something that will push faster Ethereum to the map of growth.