Reddit shows a user’s community points next to their username as a measure of their reputation, but it also provides a variety of methods to utilize them, such as obtaining community-specific memberships, voting on decisions, rewarding platform founders, and sending suggestions. Right now, only users on two subreddits, r/Cryptocurrency, and r/ForniteBR, may use community points, but Reddit intends to extend it to more communities in the future.
However, since community points are stored on the Ethereum blockchain, users will suffer gas costs, or the cost of conducting an Ethereum blockchain transaction, while utilizing the points. According to Fortune, this entails paying a charge in Ethereum, which some users may not have or may not know how to get. Reddit’s cooperation with FTX will allow users to convert fiat cash (a country’s national currency, such as USD) to Ethereum to pay those fees, making community points more accessible to those who may not be familiar with cryptocurrency.
