Best Crypto to Buy Now October 18 – Toncoin, Trust Wallet Token, Bitcoin SV
Reddit announced on October 17 that it would discontinue its blockchain-based "Community Points" rewards service on November 8, citing challenges related to scalability.
The decision came as a surprise to the Reddit community and led to a swift decline in the value of the associated tokens.
With the recent news of Reddit's decision to discontinue its blockchain-based "Community Points" rewards service, what is the best crypto to buy now?
The closure was confirmed in an official post on the r/CryptoCurrency subreddit by a Reddit team member. The statement revealed that while there were prospects for the "Community Points" feature, scalability issues prevented its broader adoption on the platform.
Starting November 8, Reddit users will no longer accumulate points in their communities or see points in their "Reddit Vault," the platform’s native crypto wallet.
Launched in May 2020, the "Community Points" service was intended to encourage quality content and positive engagement in specific Reddit communities. These rewards were Ethereum-based ERC-20 tokens stored in the Reddit Vault.
Despite initially rolling out on the Ethereum network, the service later transitioned to the Arbitrum layer-2 scaling solution in an attempt to improve scalability.
Each participating subreddit had a distinct token. For example, the r/CryptoCurrency subreddit used the Moons (MOON) token, while Bricks (BRICK) served the r/FortNiteBR subreddit. These tokens were exchangeable for badges and exclusive avatar items.
Following the announcement, a moderator from r/CryptoCurrency, known as "CryptoMods," expressed their disappointment, stating that they had only just found out about Reddit's decision.
They assured users that the existing tokens would not be
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