🚀 Reddit to Start Converting Karma Points into ERC-20 Tokens

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Reddit to Start Converting Karma Points into ERC-20 Tokens

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The decision made by the American social media giant Reddit is will potentially onboard 500 million new crypto users.

Reddit’s inclination towards using cryptocurrencies as incentives to improve user interaction was also evident in its decision to launch its layer-two rollup, leveraging Arbitrum technology.

Community points were the name of the rewards points under this initiative, and these community points existed on the blockchain, independent of Reddit.

The community points of nearly 80,000 users have already been shifted to the Rinkeby Testnet, ready for being scaled for gasless transactions.

Reddit’s other community-driven crypto initiatives include Dogecoin fundraisers, empowering participants to fork blockchains through community-based decisions, and exploring new monetization strategies with Web 3.0.

Evidence Indicate Whatsapp Working on a Community Feature

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Experts see ample evidence which indicates that Whatsapp is working on a community feature meant to equip group admins with more control over groups.

These community features will tentatively allow admins to create groups within groups and invite new users through a community invite link before one could message other members.

The speculations also assert that these features will be end-to-end encrypted. The community icons might resemble squares with rounded corners.

Whatsapp had mistakenly enabled this format in October before it could quickly disable it. The introduction of the Communities feature is believed to be Whatsapp’s bid to close the gap with its competitors like Telegram and Signal.

Phhhoto Sues Facebook on Antitrust Grounds

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Phhhoto is a defunct photo app that alleged Meta, formerly Facebook, deceived it by copying its features and hiding its name from the search results.

According to the app, these actions eventually resulted in Phhhoto going out of business. The technology that Phhhoto alleged Facebook of stealing was something that allowed users to capture five frames in a single point-and-shoot burst that later could be looped into a shareable short video.

According to Phhhoto, Facebook copied this signal feature of Phhhoto only to later turn it into the famous feature Boomerang on Instagram.

Phhhoto also alleges Facebook of going as far as blocking Phhhoto from Instagram’s API so that it could not pre-populate in Instagram posts.

While Phhhoto wants a jury trial and demands an unspecified amount of monetary damage, Facebook claims the suit to be without merit and pledges to defend itself against all accusations.

Elon Musk Asks His Twitter Followers to Decide on Part of His Tesla Holdings

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Musk had already made public his intention, at Code Conference in September, to sell his stock options, when they expire, to avoid his marginal tax rate going above 50%.

Now, he has asked his 62.5 million Twitter followers to determine what he should do with a chunk of these options as they are up for expiry.

Experts believe that in all probability Musk will eventually exercise the options and sell his stocks.

Current and former Tesla board members, including Robyn Denholm, Kimbal Musk, Ira Ehrenpreis, and Antonio Gracias, have also sold many of their Tesla shares worth hundreds of millions of dollars, since October 28th.

Musk has asked his Twitter followers whether they support him selling off 10% of his Tesla stock, emphasizing the fact that “much is made lately of unrealized gains being a means of tax avoidance.”

Around The World

📰 Fake Press Release Appears On Kroger’s Webpage: As PR Newswire put out an illegitimate announcement claiming Kroger will start accepting Bitcoin Cash, the fake release appeared on Kroger’s webpage as well, as Kroger pulled in the releases from PR Newswire.

🦊. Metamask Integrates With Bitfinex Pay: The coming together of the popular crypto payment browser and wallet extension and crypto payment gateway opens up new opportunities for tens of millions of users.


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