Reddit's new Community Points could be huge for Ethereum

Reddit is experimenting with cryptocurrency, and though it's currently only a trial, it might turn out to be one of the most important developments in the space. 

The social news site launched a new feature called Community Points, which are earned by submitting quality content and can be spent on premium features such as badges and emoji (as well as being used for bragging rights). This, in itself, isn't new for Reddit, but these new Community Points are essentially cryptocurrency tokens built on the Ethereum network. 

Ethereum, which is both a cryptocurrency like Bitcoin and a platform for decentralized apps, has a standard called ERC-20 that allows for simple creation of new cryptocurrencies called tokens. These have all the basic properties of Ethereum itself — namely, they're near-impossible to counterfeit, and they are fully controlled by their owners. This means that, once the tokens have been created and transferred to a user, not even Reddit can take them back.  Read more...