Reddit Eyeing a New Decentralized Structure
- Reddit is expanding its team of crypto developers and engineers.
- The platform could transition into a decentralized state and build on top of existing communities.
The race for the first entirely usable decentralized social media platform is on. Words like crypto, NFT, and blockchain are becoming embedded into the culture of tech companies as they plan to transition to a new era.
It’s More About Decentralization
An Ethereum developer named Rahul, tweeted that he is joining the Reddit crypto team, which in itself implies Reddit’s widening scope for decentralized social media.
I am joining Reddit’s crypto team.
What is @Reddit doing in crypto?3 words
Decentralise. Social. Media.And working alongside some of the smartest senior and staff engineers is a dream come true for me!
— Rahul
(@iamRahul20x) November 3, 2021
Reddit’s career page lists a number of opportunities for NFT platform engineers, but that’s nothing new as Alexis Ohanian has been transparent about his fondness for NFTs. the executive chairman and co-founder of Reddit participated at the NFT.NYC conference and has previously worn a pin of CryptoPunk #2950.
Rahul emphasized that Reddit can use its existing features, such as platform tokens, to help create a new decentralized system, in which network participants can vote on platform development decisions. Interestingly, the same idea was shared by Ohanian during the NFT.NYC, stating that early adopters will “have a stake in something.”
What Could Reddit Develop Into?
Twitter user, Rahul, emphasizes that Reddit can use the ‘bottom-up’ approach to build a decentralized system. He states that community decisions can be enabled through community tokens, highlighting that new subreddits can be forked from “disagreements.”
Your Karma points will soon be tokens
https://t.co/FXdEbeynph
Think
– community-based decisions.
– forking subreddits in disagreements.And all of this without even losing your community points?
It’s like moving from fb to Twitter without having to rebuild your followers.— Rahul
Interestingly, Reddit already has a substantial user base of 500 million, according to a Tweet, who could all be early adopters of crypto. Judging from how Reddit has expanded its job search to also include a B2B marketing lead for crypto gaming and other crypto-related activities, the company’s position might shift rapidly towards decentralization.
DailyCoin reached out to Rahul for comment, but there was no response before this article was published.
On The Flipside
- Reddit are yet to comment on whether they are committed to transitioning into a fully decentralized network.
Why You Should Care?
Reddit is already one of the most used social media platforms available, demonstrating how communities, the foundations of every successful blockchain, can rally against established systems.
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Market News, crypto, Decentralized Social Platform., RedditRead More
OhNoCrypto
via https://www.ohnocrypto.com
, Khareem Sudlow