Reddit, the American version of the PTT forum, is reportedly planning to launch a blockchain-based token system.

Reddit is a mainstream electronic bulletin board in the United States with diverse content covering technology, entertainment, social, news, and more. Today (9), a video stirring up discussions was posted in the cryptocurrency discussion board, showcasing Reddit's integration of a blockchain-based wallet in the official Android app.

Reddit's Reward System: Reddit Coins

Reddit currently has its own token called "Reddit Coins" that can be purchased with a credit card. These tokens can be used to reward posts and comments, or obtained through a subscription model that also removes ads.

The concept of rewarding is simple: your Reddit Coins can be used to purchase Platinum, Gold, or Silver rewards, which can be given to posts or comments. For example, a Gold reward represents one week of Reddit Premium membership and 100 Reddit Coins.

However, unlike cryptocurrencies, these tokens are not freely transferable. Perhaps this could change with the introduction of blockchain technology, but many users feel that such a blockchain application may not be necessary.

Further confirmation from Reddit is needed to verify this information and to explain what more meaningful applications may be in store.