Reddit’s blockchain-based “Community Points” tokens crash after sunsetting
arstechnica.com
Tokens based on subreddit reputation saw dips over 85% after the announcement.

Reddit’s blockchain-based “Community Points” rewards crash after sunsetting::Tokens based on subreddit reputation saw dips over 85% after the announcement.

  • uid0gid0@lemmy.worldEnglish
    46·
    11 months ago

    “take your reputation anywhere you want on the Internet.”

    How is this supposed to work exactly? Does any other site care about your reddit karma?

    • micka190@lemmy.worldEnglish
      611·
      11 months ago

      It doesn’t.

      Crypto bros are really fond of the whole “use the blockchain to take your assets from one platform to another” grift, but it:

      1. Doesn’t work if the other platform doesn’t support it
      2. Could be done without a blockchain if both platforms agree to share a database

      It’s like you said: Do any other websites care about your Reddit karma? No. Why would they? It’s only 2 uses are to make people addicted to Reddit through gamifying their opinions and filtering bot accounts by having a minimal karma threshold to post on subs.