Reddit Joins With Ethereum Foundation to Build Scaling Tools

The social media network says the aim of the partnership is to bring Ethereum to "Reddit-scale" production. Popular social media network Reddit, which counts over 1.7 billion monthly visits, is deepening its ties with the Ethereum Foundation in what it has formalized as its first-ever blockchain partnership.According to an announcement from Reddit admin u/jarins, the aim of the partnership will be to increase the site's  “commitment to blockchain, accelerating scaling and resources for the Ethereum ecosystem, and bringing the value and independence of blockchain technology to millions of....

Devs of the Reddit Moons project recently announced that Moons are going to be moved to a new scaling network. This is part of the overall plan to bring Reddit Moons to the Ethereum Mainnet. Scaling continues to be a big bottleneck in the blockchain industry and developers behind Reddit Moons are working to scale […]

On July 22, developers working on the platform Reddit, the social news discussion aggregation forum, revealed that the team was scaling Reddit’s community points program with the Ethereum Layer-2 solution Arbitrum. Currently, Reddit developers are testing the community point tokens on top of the Rinkeby testnet and will migrate to the Ethereum mainnet after testing is complete. Reddit Leverages Ethereum-Compatible Layer-2 Scaling Solution Arbitrum Reddit developers detailed on Thursday that the programmers are planning to leverage the Layer-2 scaling solution Arbitrum, a....

“You’ll notice transactions happen much faster, and once you’ve created a Vault, you won’t have to keep claiming Moons every month,” said Reddit if the solution is migrated to the Ethereum mainnet. Social media platform Reddit announced it would be using scaling solution Arbitrum to handle scaling its Ethereum-based Community Points system.In a Thursday announcement, Reddit administrator jarins said the platform had launched its own layer-2 rollup using Arbitrum technology for its rewards points. Reddit said it had deployed the layer-2 solution on top of the ​​Rinkeby testnet before it....

FTX’s Sam Bankman-Fried doesn’t believe Ethereum will be able to provide the scaling capabilities required by the DeFi sector in future. FTX exchange co-founder and CEO Sam Bankman-Fried believes Ethereum (ETH) is incapable of handling decentralized finance’s (DeFi) growth.Talking to Camila Russo from the Defiant Podcast, Bankman-Fried says that the Ethereum blockchain is limitin DeFi’s development and the only way around it is to build on other networks:“At some point, it’s just clear that we weren’t getting around that. Either, we're going to build it on Ethereum, or we are going to....