Reddit’s New Project Is Huge For The Crypto Space, Says Coinbase’s Brian Armstrong

Recently, it’s been revealed that Reddit launched a new project – they now have their very own crypto called Moon.

Moons are ERC-20 tokens that are issued on the Ethereum blockchain.

Moons can be transferred, tipped, and spent in the subreddit via Reddit’s iOS or Android app.

Reddit revealed that Moons are decentralized, and they are not controlled by Reddit or by any community moderators. In other words, the users have the true ownership of their assets.

Coinbase’s CEO Brian Armstrong addresses Reddit’s project

Brian Armstrong, CEO of crypto exchange Coinbase, said that he’s really optimistic about Reddit’s new project regarding the crypto space.

The social network rolled out Community Points which is designed to give subreddits a unique way to award community members with blockchain-based tokens when they are creating popular posts and comments as well.

The Community Points feature is now live on r/FortNiteBR and r/CryptoCurrency.

According to Armstrong, this new project is a strong sign of boosting crypto adoption in the real world.

We recommend that you check out Armstrong’s complete thread on Twitter to see everything he had to say.


People Mentioned

Brian Armstrong

Brian Armstrong is the co-founder and CEO of Coinbase, one of the largest crypto exchanges in the world (its reported Coinbase holds 966,230 Bitcoin ($7B) in Cold Wallet). Prior to his involvement with the blockchain and Coinbase, Armstrong worked at Deloitte and Touche as an Enterprise Risk Management Consultant.

Companies Mentioned

Coinbase

Coinbase is a digital currency exchange headquartered in San Francisco, California.

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Andreas Townsend Author

I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.

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BitStarz

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