We previously published an article on the Arab Bitcoin website dealing with the possibility of launching the global “reddit” website a cryptocurrency based on Ethereum.

To be realistic where appeared New information from a user named “MagoCrypto” on the “reddit” platform, in which he indicated that “reddit” has attached Ethereum addresses to some accounts in specific groups.

He also told MagoCrypto that available information indicates that Reddit is testing Ethereum-based ERC-20 tokens that will serve as “reward points” that allow premium users to access them.

After the leaks published by the user “MagoCrypto”, a post appeared by Mr. Jarins, one of the administrators of the Reddit platform, in which he tells about the “Community Points” project and the cryptocurrency “Moons”.

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The new system indicates preparations to launch “Moons” coins as rewards for the “CryptoCurrency subreddit” and “Bricks” coins as rewards for the “Fortnite subreddit”.

Until now, it is not known what other sub-communities will be concerned with the new digital currencies.

Reddit’s reward points are ERC-20 tokens built on the Ethereum blockchain and managed through a set of smart contracts that handle balances, transfers, distribution, claim, and private membership purchases…

Importance of this announcement for Ethereum:

It is not possible for any old Internet browser not to know it and know its activity and interaction.

According to Adam Cochran, a partner at MetereCartel Ventures and an angel investor in the crypto space, the new addition of Ethereum-based digital tokens to Reddit will reach at least 20 million users.

Meaning, the cryptocurrency will be introduced to more than 20 million new users within seconds who are visiting Reddit’s /r/Cryptocurrency and /r/FortniteBR communities, according to Cochran.

Cochran, who appears to be involved in drafting the project as moderator of the Ethereum forum, added that given there are approximately 1.2 million active ETH wallets, this Reddit feature could lead to increased adoption.

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This optimism was shared by Ryan Sean Adams, a cryptocurrency investor at Mythos Capital and writer of the Bankless newsletter.

Ryan wrote in April:

Reddit is rolling out a community token system on Ethereum.

Can this double the use of cryptocurrencies?

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