Reddit Unveils Native Cryptocurrency, Reddit Notes, to Launch Next Fall

Reddit has unveiled the much anticipated native cryptocurrency for its platform: reddit notes.

The link sharing forum did not share many technical details about the currency such as hashing algorithm, block times or total circulation, and it sounds like these details have yet to be determined.

The announcement focused more on the currency's goals and community aspects. These were addressed in thousands of ideas submitted since the concept was first announced in September and include "donating to charities, to Crowdfunding Crowdfunding Crowdfunding is defined as funding of a project via raising smaller denominations of money across a large body of number of people.New businesses that need access to more capital may also conduct crowdfunding. Generally, crowdfunding is performed through an online community, social media, or crowdfunding websites such as Kickstarter, GoFundMe, and RocketHub. Depending upon which jurisdiction an investor resides within will dictate the sort of restrictions that are applied to the crowdfunding pro Crowdfunding is defined as funding of a project via raising smaller denominations of money across a large body of number of people.New businesses that need access to more capital may also conduct crowdfunding. Generally, crowdfunding is performed through an online community, social media, or crowdfunding websites such as Kickstarter, GoFundMe, and RocketHub. Depending upon which jurisdiction an investor resides within will dictate the sort of restrictions that are applied to the crowdfunding pro Read this Term community-sourced projects [and] customized 'thank you's' for individual contributions to reddit."

The highlight of the announcement was the upcoming lottery for 950,000 reddit notes to be given away during the fall in 2015. As there are more users than there are notes, the lottery will determine who receives. Eligible recipients will be determined based on reddit activity prior to September 30 of this year, when the initiative was first announced.

It will also be interesting how the new currency fits into an economy that already supports Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term tipping through ChangeTip, which has seen increasing adoption. Ryan X. Charles, reddit’s new cryptocurrency engineer, also said that bitcoin and reddit were a "perfect match" and expressed openness to other digital currencies.

More information will be shared via the new subreddit, r/redditnotes. In addition to technical details, the company still needs to work out how reddit notes "will work within existing government regulations."