HomeCRYPTO NEWSReddit Neighborhood Factors Prepared for the Ethereum Mainnet Transfer

Reddit Neighborhood Factors Prepared for the Ethereum Mainnet Transfer


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Supply: AdobeStock / Aleksei

Offchain Labs, the developer behind the Arbitrum Ethereum (ETH) scaling resolution, says it is going to assist the social media platform Reddit transfer its group factors system onto Ethereum’s mainnet. The agency was chosen because the winner of the Nice Reddit Scaling Bake-Off occasion earlier this 12 months.

In a press launch shared with Cryptonews.com, Offchain defined that it was constructing Reddit group factors infrastructure on a brand new Arbitrum Nova chain and would “leverage” its Arbitrum AnyTrust know-how “to convey extra worth and independence from the blockchain to the Reddit group.”

Reddit beforehand revealed particulars of its group factors, which it mentioned would make use of Ethereum-based tokens. It additionally launched its scaling “bake-off” – seek for a developer that might assist it launch the initiative onto the Ethereum mainnet.

The agency additional added that its Nova chain had been “designed as the answer of alternative for gaming and social functions,” and that its know-how supplied “extremely low-cost transactions with robust safety ensures.”

Reddit has moved deeper into the Ethereum area in current months and, earlier this summer season, struck a cope with Polygon (MATIC) that noticed the social media platform launch an ETH-compatible non-fungible token (NFT) market for Redditors’ profile photos and avatars.

It has additionally beforehand launched a spread of CryptoSnoo NFTs, additionally constructed on the Ethereum blockchain – and primarily based on the corporate’s mascot.

Steven Goldfeder, the co-founder and CEO of Offchain was quoted as stating that Arbiturm and Reddit collectively have been “opening the Ethereum ecosystem to hundreds of thousands of Redditors around the globe.”

The agency additionally introduced that its Nova chain was now out there to entry for “all end-users and builders.”

Offchain added that Nova would take “a novel technical method” with its “use of a knowledge availability committee.”

It defined that “quite than posting all information to the Ethereum community,” the committee “certifies and validates batches of transactions and solely posts the certifications to Ethereum, leading to important price financial savings for customers.”

And it claimed that “in comparison with different low-cost blockchain options,” Nova’s know-how would “ship a lot stronger safety ensures.”

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Be taught extra: 
Reddit Launches NFT Avatar Market
Coinbase Offers Preview Of Its NFT Platform, Reddit Exams NFT Profile Pic Characteristic

Reddit Asks Ethereum Neighborhood for a Scaling Resolution
Cryptoverse Upvotes and Downvotes Reddit’s Experiment on Ethereum

EthereumPoW Fork Will not ‘Considerably’ Hurt Ethereum – Vitalik Buterin
Regardless of Crypto Downturn, Builders Proceed Contributing to Web3 Communities

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