Reddit has reached a cooperation with the Ethereum Foundation to provide hundreds of millions of users with point token services through Layer 2

Editor's Note: This article comes fromBabbitt Information (ID: bitcoin8btc)Editor's Note: This article comes from

Babbitt Information (ID: bitcoin8btc)

Babbitt Information (ID: bitcoin8btc)

, Author: Reddit, Translator: overnight porridge, released with permission.

On June 19, Babbitt news, the well-known social networking site Reddit announced that it has established a cooperative relationship with the Ethereum Foundation, and is now seeking a Layer 2 expansion plan from the Ethereum development community to support its Reddit ERC-20 point token plan. A Reddit representative posted on the r/ethereum community:

“Our goal is to find a solution that can support hundreds of thousands of Community Points users on the Ethereum mainnet today, and eventually scale to all Reddit users (430 million DAUs).”

Do you believe your Ethereum scaling technology can handle the scale of Reddit? It's time to let the Ethereum community know, show your demo in the comments by July 31, 2020.

Target

This is your chance to earn some fame, but, specifically, there is no reward if your solution is selected, or modified to suit Reddit's needs. Here's what our lawyers asked us to come up with:

secondary title

1. Target

2. In partnership with the Ethereum Foundation, Reddit is inviting the Ethereum Scalability Project to show the community how scaling solutions can be used to bring Community Points to the Ethereum mainnet. Our goal is to find a solution that can accommodate hundreds of thousands of Community Points users on mainnet today, and eventually scale to all Reddit users (430 million DAUs).

3. We evaluated some of the most promising scaling solutions and learned a few things:

4. There are a lot of cool projects we don't know about yet. We seem to be learning about a promising new scaling solution every day.

Most existing scaling solutions focus on the exchange use case, which is good for optimizing transfers. Many of these designs do not take into account the cost of acquiring tokens or access to scaling systems, which can be significant. The distribution cost of community points is an order of magnitude higher than all other operations combined, primarily due to on-chain storage costs associated with new user logins.

It's unclear how to determine the best solution. There's a lot of code, a lot of documentation, and a lot of hype. But there are very few objective practical reviews or comparisons of various products/implementations.

We need the help of the Ethereum community to solve this problem.

Do you have an expansion solution that meets the following criteria? If yes, please share your demo in the comments before July 31, 2020. Note that all demos need to simulate the use of Community Points for 100,000 users.

1. We also invited all scaling experts in the Ethereum community to comment on any demos submitted in order to better understand the trade-offs and compromises between different solutions.

2. We'll be reviewing the demo and plan to share any updates by September. While we don’t expect any new scaling projects to emerge, we hope that Ethereum scaling experts will show us how to scale community points.

3. The presentation should include:

4. Documentation: a. How it works and scaling b. Cost estimates (on-chain and off-chain) c. How it works d. Architecture e. API (on-chain and off-chain) f. Known issues or tradeoffs

Require

Summarize cost and resource information for on-chain and off-chain components used in the PoC, and cost and resource estimates for further extensions. If your PoC is not on mainnet, be aware of any mainnet considerations (e.g. congestion issues).

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1. Require

2. expansion. This PoC should scale to the numbers below with minimal cost (on-chain and off-chain). There should also be a clear path to support hundreds of millions of users.

3. 75,Within 5 days, your scaling PoC should be able to handle:

4. 100,000 points claims (casting & distribution of points)

25000 subscriptions

000 one-time point burning;

100,000 transaction transfers;

1. decentralized. The solution should not depend on any third-party provider.

2. We prefer solutions that are not tied to a specific entity (such as Reddit or other providers), and where there is no single point of control or failure of off-chain components, but we recognize that there are many trade-offs to consider

3. availability. Scaling solutions should have a simple end-user experience.

4. Users do not have to maintain any additional state/proofs, regularly monitor activity, track additional keys, or sign anything other than normal transactions.

Complete transactions within a reasonable time (seconds or minutes, not hours or days);

1. Free for end users (no gas fees, or Reddit can pay a fixed/minimum fee on their behalf);

2. Bonus points: (1) users should be able to view their balances and transactions through a blockchain browser-style interface, and (2) exiting is quick and easy;

3. interoperability. Compatibility with third-party applications (wallets/contracts, etc.) is necessary.

4. Scaling solutions should be scalable and allow third parties to build on top of it;

5. API should have good documentation and stability;

6. Documentation should be clear and complete;

Third-party license-free integration should be possible, and straightforward;

1. Simple is better. Learning an uncommon or proprietary language is unnecessary. No advanced knowledge of mathematics, cryptography, or L2 scaling is required. Hope to be compatible with common utilities and toolchains.

2. Bonus points: tell us how it works. Do you have an idea for a cool new use case for Community Points? build it!

3. Safety. Users have full ownership and control over their points.

4. Balances and transactions cannot be faked, manipulated or blocked by Reddit or anyone else;

5. Third-party public comments justifying the design should be available;

other considerations

1. Bonus points: (1) public, third-party implementation reviews available or in progress, (2) compatibility with HSMs and hardware wallets;

2. secondary title

3. other considerations

Generating/distributing tokens is not performed directly by Reddit[1];

One-time point burning, as well as recurring, non-interactive point burning (for subreddit membership[2]) should be possible and scalable.