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Called DATT short for Decentralize All the Thingsthe still-in-development social network recently held a global hackathon on 1st August aimed at kickstarting the project. Project leader Ryan X Bbitcoin, who was previously hired by Reddit to helm its short-lived cryptocurrency initiativesuggested that work on the idea is pressing forward, and that a prototype of the project is expected soon, providing CoinDesk a glimpse at what his team of 10 part-time developers have so far built. By integrating payments, it will feel different than Reddit. As soon as people wjth incentive to host good content, this will change the dynamic. Though much about the exact design of DATT remains to be determined and currently lies in uncompleted GitHub formthe open-source project is so far built around a series how to buy with bitcoin reddit principles, that the network be uncensorable, feature strong anonymity and require nothing more than a web browser to operate.
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Called DATT short for Decentralize All the Thingsthe still-in-development social network recently held a global hackathon on 1st August aimed at kickstarting the project. Project leader Ryan X Charles, who was previously hired by Reddit to helm its short-lived cryptocurrency initiativesuggested that work on the idea is pressing forward, and that a prototype of the project is expected soon, providing CoinDesk a glimpse at what his team of 10 part-time developers have so far built.
By integrating payments, it will uby different than Reddit. As soon as people have incentive to host good content, this will change the dynamic. Though much about the exact design of DATT remains to be determined and currently lies in uncompleted GitHub formthe open-source project is so far built around a series of principles, that the network be uncensorable, feature strong anonymity and require nothing more than a web browser to operate.
The principals were developed at the hackathon, held in a distributed manner across Buenos Aires, Bombay and San Francisco. It saw some participants take part in, or at least investigate, a Slack group for the weekend-long brainstorming session on how the project could be developed, designed and marketed.
Throughout the interview, Charles framed the project as one that serves as a culmination of his professional skills. Charles indicated a handful of investors are interested in the project, having reached out after his blog entry received widespread media coverage. Under the original vision, users will pay to download and upvote content to the website, with bitcoin being used as the currency to incentivize all the parties — readers, hiw, moderators and developers — to keep producing valuable content.
Users would pay content creators through votes, while creators would add posts and comments, in turn paying moderators for hosting the content.
Node operators would then pay moderators woth would finally pay DATT at a percentage determined by nodes. With DATT, moderators would in turn be reddig to host multiple versions of the content published through the platform, effectively creating different versions of the same content streams.
Though this might lead usability to suffer, Charles said content creators will be able to take their content elsewhere if they feel slighted. For now, the project will be built on bitcoin due to the additional developer resources that are already available, ibtcoin payments and proof of ownership handled on its blockchain.
So long as we can draw some bitcoin users, the rest of how to buy with bitcoin reddit people will be able to earn bitcoin by using the app. As of now, Charles is optimistic a prototype of the platform, complete with payments and comments features, ho be in place sometime in September. A minimum viable product MVPhe suggested, could be as many as three months away from this milestone.
The MVP, as currently described, would feature a light node and a full node, with traditional bitcoin transactions being used in lieu of any payment systems.
Of course, Charles is cognizant of the challenges ahead. Monetizing any content from consumer payments remains a challenge, even for the most well-capitalized publishers in an age where readers expect content to be subsidized by advertising. Further, while he suggested bitcoin enables micropayments for perhaps the first time in history, he acknowledges the idea has been around for some time, always failing to take flight.
Still, he expressed optimism that DATT would become useful for an early batch of users, whether disaffected Reddit participants or even professional writers and content creators, and that the project has a unique combination of factors that could propel it to success.
The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk bhy an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. In short, he said, it might not look like Reddit at all if successful.
Professional destiny Throughout the interview, Charles framed the project as one that serves as a culmination of his professional skills. Read more about Disclosure Read More The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies.
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If yes thats not for me i cant provide SSN since i live in Europe. Create an account. Bitcoin join leave 1, readers 6, users here now Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. Get bicoin ad-free experience with special benefits, and directly support Reddit. This subreddit is not about general financial news. If you have a fairly powerful computer that is almost always online, you can help the network by running Bitcoin Core.
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