Evening
Social media platform, Reddit announced today that it would be using Arbitrum to handle the platform's Ethereum-based community points system. As per Reddit's administrator announced that the platform has launched its own layer 2 scaling solution based on Arbitrum to handle the distribution of reward points, Before shifting to Ethereum main net the scaling solution will be tested on Rinkeby test net.
Reddit users can earn community points(ERC-20) by posting quality contents in certain subreddit, e.g. Moon tokens in r/Cryptocurrency and Bricks in r/FortNiteBR subreddit. As per Reddit deployment of Arbitrum will help in faster and cheaper transaction of platform's tokens.
Arbitrum is a Layer 2 solution that makes smart contracts scalable, fast, and private. It offers scalability, privacy and the AnyTrust Guarantee of correct execution. And the best part is interoperability with Ethereum.
Arbitrum was chosen from 21 shortlisted entrants like Solana, Polygon and StarkWare etc. Reddit cited choosing Arbitrum because of decentralized, developers friendly and having a broad ecosystem.
Standing out among the likes of Solana and Polygon and being selected as the scaling solution is yet another achievement for Arbitrum. Ever since its launch for developers in May, Arbitrum has already being adopted/considered by projects like Uniswap, Chainlink and Etherscan.
