Minter Community’s Open Letter to Reddit
We were thrilled to find out Reddit was going to use distributed ledger technology for driving user engagement, interaction, and loyalty. The front page of the Internet switching to Web 3.0 is something you don’t see every day: fifteen years into existence, you’re once again on the cutting edge of innovation.
“There are plenty of awesome projects that we don’t know about yet,” reads the text you put up today. “Most existing scaling solutions focus on the exchange use case.” What we would like to offer here in this letter is an alternative: although Minter is separate from Ethereum, the project’s top priority is enabling brands — small, medium, and large alike — to implement blockchain-powered incentive and reward mechanisms into their operation.
Every facet of our network is tailored to this very need:
- The transaction is finalized in five seconds
- The fee never exceeds one cent
- The scalability is up to 100 million daily transactions (if necessary)
- Any community (think of subreddits) can issue their own coin in just 60 seconds, which can be then swapped not only for one another, but also for items such as iTunes gift cards, XBOX subscriptions, or any of the remaining 18,000 options — proving Minter provides a global solution aimed to achieve the goal you’ve set
- Easy-to-use, user-centric wallets are available across all platforms
- Our blockchain — as well as the vast majority of services built atop it — is open-source, and the documentation is detailed
All we ask for is a green light to integrate any of the Reddit communities into our platform, seeing hundreds of millions transactions in branded coins each and every day. One week is the time we need to make it work.
We would like to take this moment to thank the entire Reddit team for striving to make the Internet a better place. And if you are interested in the proposition we outlined above, please don’t hesitate to contact Mikhail for further communication.
P.S. To learn more about the network itself, see minter.network. If you want to try out our lightning-fast wallets, please visit bip.to.