Reddit’s Ethereum-based rewards and points system, Community Points, was launched in May and has seen subreddits such as r/Cryptocurrency and r/FortniteBR testing it via the creation of their own tokens, called Moon and Bricks respectively. The testing phase is set to end at the end of summer and Reddit announced on June 19, shouting out to developers or businesses with a social media focused scaling solution for the Community Points’ launch on the mainnet.
The social media and discussion forum platform is working with the Ethereum Foundation to find a unique scaling solution that will help bring Community Points to its 430 million monthly users. While there exists many Ethereum layer 2 scalability fixes in the market at present, Reddit finds that most of these solutions can only be used effectively on decentralized exchanges, for example.
“Most existing scaling solutions focus on the exchange use case, which favors optimizing for transfers. Many of these designs don’t take into consideration the costs of obtaining tokens or entering the scaling system, which can be significant. Community Points distributions have cost an order of magnitude more gas than all other operations combined, primarily due to on-chain storage costs associated with onboarding new users,” the announcement reads.
Experts in the field that can offer a viable solution are invited to send demos meeting Reddits criterion in the same post by 31 July 2020 and results will be announced in September.
Since its launch in 2015, Ethereum developers have made attempts to improve the scalability of the network and this year, it is finally implementing permanent fixes with an upgrade to Ethereum 2.0, which features both a Proof of Work algorithm and shard chains to improve energy efficiency and network capacity.
