The Ethereum Foundation has been rolling out an array of developments pertaining to the ETH network. While the altcoin recently hit an all-time high, the Ethereum community had yet another news to rejoice to.
Ethereum Foundation Hopes To Bolster Reddit’s New Venture
The social media platform, Reddit has been a great platform for crypto-users. The Ethereum foundation has made prominent presence on the platform and it seemed like the foundation and Reddit were coming together once again. In a recent announcement, the Reddit admin jarins revealed that a partnership between the two was going on board. The platform intends to dive into the blockchain industry to boost scaling as well as resources for the Ethereum network.
The post read,
“As Reddit continues to grow with more than 50 million daily users and hundreds of thousands of communities, the platform has long maintained a decentralized ethos by empowering users to create, govern, and grow their own communities. Through this partnership, we will be increasing our commitment to blockchain, accelerating scaling and resources for the Ethereum ecosystem, and bringing the value and independence of blockchain technology to millions of redditors.”
With this, Reddit suggested that it would prolong its association with the foundation to roll out several other projects in the coming months. The subreddit was filled with several comments from the ETH community congratulating both Reddit as well as the foundation.
Reddit and the Ethereum Foundation go way back. Previously, Reddit had rolled out the Great Reddit Scaling Bake Off competition which urged people to submit scaling solutions for the Ethereum network. Another project was also preceded by the social media platform that involved Community Points. This imitative offered ERC-20 tokens to those who submitted content.
The Ethereum community has several things to look forward to. While the Phase zero of Eth2 took off in full force, other developments pertaining to the same is still underway.