Zenix Launcher - News 📰 | Reddit Pulls the Plug on Its Crypto Community

Reddit is winding down its Community Points initiative - a program that saw various behaviours on the platform rewarded with Ethereum-based tokens stored in Reddit’s own ‘vault’. Said points could previously be spent by community members on various items and memberships within the Reddit platform, with each user’s number of points displayed as part of their profile, in an attempt to reflect the user’s reputation.

Reddit’s post cites scalability issues as one of the primary drivers behind its decision, with the current “regulatory environment” adding to “scalability limitations”. The post claims that “without an outsized commitment to resources” the blockchain initiative would be untenable, but that it still loves the idea behind the initiative itself.

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