12 sats \ 2 replies \ @And1 9 Nov 2021 freebie \ on: Reddit to reportedly tokenize karma points and onboard 500M new users bitcoin
Is a new token necessary to do this or would this also be possible with lightning?
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12 sats \ 0 replies \ @ugmug 9 Nov 2021
Token not needed. Of course this is possible with lightning, that's why we're here!
This is just a money grab, literally an affinity scam:
“Your Community Points exist on the blockchain, independently of Reddit, where they can only be controlled by you (just like Bitcoin (BTC) !).”
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23 sats \ 0 replies \ @k00b OP 9 Nov 2021
Certain things they'll likely introduce with their tokens might not be possible on Lightning given that they are using a centralized chain. It looks like communities will be able to fork the "blockchain" and have their own tokenomics or whatever ... tokenomics/contracts/rules don't need to happen on a blockchain but a lot of these people in that space believe that they do, i.e. they like to LARP decentralization.
Moreover, Reddit communities will also have the ability to fork blockchains through community-based decisions, in addition to allowing the scope to explore new monetization strategies with Web 3.0.
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