Reddit Eyeing a New Decentralized Structure -Breaking
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Reddit Looking for a New Decentralized Structure- Reddit has expanded its crypto engineers and developers.
- It could become a platform that is decentralized and builds on existing communities.
There is an intense race for the decentralized, fully-functional social media platform that will be the most useful. Tech companies are incorporating words such as crypto, NFT, or blockchain into their culture in order to move to the next era.
It’s More About Decentralization
An developer named Rahul, tweeted that he is joining the Reddit crypto team, which in itself implies Reddit’s widening scope for decentralized social media.
Reddit is inviting me to be part of its crypto team. How does @Reddit do crypto?3 wordsDecentralise. Social. Social.
— 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. Reddit executive chairman and cofounder participated in NFT.NYC and previously wore CryptoPunk #2950 pin.
Rahul stressed the fact that Reddit’s existing features (such as platform tokens) can be used to build a new, decentralized system where network participants could vote on platform developments decisions. Interestingly, the same idea was shared by Ohanian during the NFT.NYC, stating that early adopters will “have a stake in something.”
Reddit: What could it become?
Twitter (NYSE:) 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/FXdEbeynphThink- community-based decisions. Forking subreddits to resolve disagreements. All this, without losing community points. It’s similar to moving from Facebook to twitter without rebuilding your followers.
— Rahul (@iamRahul20x) November 3, 2021
Reddit has 500 million users, which is a significant number, according to one tweet. These people could be all early crypto adopters. 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 Rahul to provide comment but was not able to get a response.
Flipside
- Reddit is yet to respond to questions about whether it plans to become a completely decentralized network.
Why you should care
Reddit already ranks as one of the most popular social media platforms, which shows how communities can unite against existing systems.
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