The Reddit forum, which is one of the most popular sites in the world, conducts beta testing of two Ethereum-based tokens.
The $MOONS and $BRICKS tokens will be given to r /CryptoCurrency and r/FortniteBR subreddit members, respectively, as part of a new Reddit initiative called Community Points.
“We continuously run experiments to explore features that engage our users and communities. With Community Points, we’re working exclusively with two communities to test this feature and gather feedback from our users,” a Reddit spokesman said in a comment to The Block.
Reddit has a page that helps users create storage for tokens (Vault). Both tokens will be issued on the Ethereum blockchain, and by creating Vault, the user essentially generates a new Ethereum wallet.
A Reddit spokesman said the tokens will be in test mode until the summer of 2020. Smart contracts and a mobile application will be verified by an independent cybersecurity company that has experience working with blockchains.
After the function leaves beta, community points will be transferred to the main network of Ethereum. “The balances of the points will be transferred (although they will need to be restored),” they explained on the Vault page.
Users will be able to use tokens for voting and transferring funds. The subreddits r/CryptoCurrency and r/FortniteBR have 1 million and 1.3 million members, respectively.
Author: Marko Vidrih
Featured image credit: Reddit