Ryan X. Charles, a former Reddit engineer, is convinced that he can save the community using the blockchain, the technology behind bitcoin.
Prominent venture capitalist Fred Wilson believes the blockchain technology will help Reddit to deal with censorship of the website’s content.
The Bitcoin Foundation elections are set to 19th February. However, there have been some issues with members not registering themselves to vote.
Since 2013, it has been thought that just a third of all Bitcoin units mined had been spent or used. That number is closer to 90% however, indicates new research provided by a Reddit user.
Ryan X Charles has been let go from his post as digital currency engineer on social platform Reddit.
The /r/bitcoin subreddit became the 199th largest on Reddit after surpassing the mark of 150,000 subscribers.
Microsoft is now accepting Bitcoin as a payment option to buy apps, games, and other products for Windows, Windows Phone, and Xbox. Check the Coinspeaker’s list of 10 other large websites now accepting bitcoin, along with each company’s Alexa Global Rank, indicating their Web traffic ranking.
Reddit received investments of $50 million that wll be used to create its own cryptocurrency for rewarding the site users.
Reddit is likely to integrate cryptocurrency more into its marketing strategy after ensuring that demand for new bitcoin payment option, added by BuySellAds, is high.