Social network Reddit is integrating the Arbitrum scalability solution to optimize the operation of its rewards system and reach the largest audience without problems.
Reddit, a news aggregator and social networking web portal announced that it will integrate the second layer scalability solution Arbitum to optimize its reward system called Community Points, based on the blockchain de Ethereum. According to release As shared by Reddit, Arbitrum will ensure that the Community Points system is available to as many users as possible, who can receive rewards points as ERC-20 tokens for their contributions of content on the network.
The goal of the Arbitrum integration is to address the scalability issues that Reddit’s rewards system has faced since its launch in 2020. The social network reported that the community preferred Arbitrum rollups over other networks and solutions, including Solana, StarkWare, and Polygon. As explained in the release, Arbitrum’s optimistic rollups are the most promising scalability technology for the development and optimization of its rewards system.
At the moment, Reddit explained that Arbitrum is being implemented as a second layer on the Ethereum test network, Rinkeby and that migration to the mainnet will occur in the future.
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Arbitrum, scalability and development
Several of the reasons why the Reddit community preferred Arbitrum over other protocols is that it is one with a developer-friendly interface, which allows developers to create new applications on a familiar interface like Ethereum. Reddit also highlighted that Arbitrum is completely decentralized, which means that Community Points are always in the hands of the community.
The social network also cited that Arbitrum has broad ecosystem support, despite being a relatively new protocol. To date, several major crypto protocols such as Alchemy, Uniswap, Chainlink, and Etherscan have implemented Arbitrum as a scaling solution to escape Ethereum’s high gas fees without sacrificing security.
As it grows and evolves, Reddit wants to increase its scalability to ensure much broader community participation. The goal of this social network is to allow users to create content, news, discussions, videos, and much more within a platform governed by its own community. Also, Reddit wants to push and bring the value and independence of blockchain technology and the cryptocurrencies, to more communities and millions of people around the world.
Moons and Bricks at Arbitrum
Reddit's Moons (MOONS) and Bricks (BRICKS) tokens, launched last year, will now be transferred using the Arbitrum scalability solution, the network announced. For now, users will be able to earn these two tokens in the r/Cryptocurrency and r/FortniteBR subreddits, two of the largest communities that exist on the network and which together have more than 4,8 million registered users.
Reddit promises that transactions with these tokens will be much faster and more efficient thanks to the integration of Arbitrum, while noting that the gas costs already common on Ethereum will be significantly reduced.
“You will notice that transactions happen much faster.”
The social network also indicated that once users create their accounts, they will not have to claim their rewards in MOONS and BRICKS every month, as was the case until now, but rather the tokens will appear in the users' accounts "as if by magic."
The implementation of Arbitrum is a big step in Reddit's journey, although the network plans to hire new talent to continue creating new tools that drive the construction of a more decentralized and accessible Internet for everyone.
Continue reading: Ethereum and scalability: Arbitrum One uses rollups to scale and make the blockchain network cheaper
