Coinspeaker
Reddit to Shut Down Its Blockchain-Based Community Points System
American social news aggregation, content rating, and discussion platform Reddit has announced its decision to discontinue Community Points – a blockchain-based reward system. The company explained its decision by scalability challenges and regulatory concerns.
Starting from early November, Community Points will no longer be available. It means that beta participants will no longer see their points in their Vaults, and will no longer earn points in their communities.
Reddit’s director of consumer and product communications Tim Rathschmidt explained:
“Though we saw some future opportunities for Community Points, the resourcing needed was unfortunately too high to justify. The regulatory environment has since added to that effort. Though the moderators and communities that supported Community Points have been incredible partners – as it’s evolved, the product is no longer set up to scale.”
Further,
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