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Arbitrum One is better suited for higher-value transactions like decentralized finance DeFi and NFT assets, he explained. Arbitrum One is an Ethereum layer-2 scaling solution that uses optimistic rollups to bundle batches of transactions from its own blockchain and commit those to the Ethereum mainnet. Meanwhile, Arbitrum Nova embraces a different approach, relying on a series of validators to avoid committing everything to Ethereum, thus cutting down on fees.

Once deployed, Goldfeder said, other developers can potentially create their own decentralized applications dapps that use Reddit's crypto Community Points, yielding an ecosystem and added utility around the crypto rewards program. Goldfeder suggested that transitioning existing Web2 communities into the space will do more for crypto adoption than creating a killer Web3 app from scratch.

Stay on top of crypto news, get daily updates in your inbox. Your Email. Social news website and platform Reddit could be onboarding millions of people to the world of non-fungible tokens and Web3. The catch is that people who have the NFTs might not even know what they are. What Happened: Reddit onboarded millions of people to the world of NFTs with the launch of digital collectible avatars.

Several creators worked with Reddit to produce groups of collectible avatars. The collectible avatars are stored in vaults on Reddit and can be bought, sold or traded in a similar fashion to NFTs. A collectible avatar owner can use it while posting and commenting on Reddit. Users can also mix and match other avatar gear to customize their collectible avatar to make it stand out.

The avatars are based on Snoo, the alien mascot for Reddit. Many of the collectible avatars were free airdrops to loyal users on Reddit. A portion of the collectible avatars was also available for purchase, but unlike many traditional NFTs, users could pay with Stripe and use their local currency.

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The price of ReddCoin has risen by % in the past 7 days. The price increased by % in the last 24 hours. In just the past hour, the price grew by %. The current price is . 2 days ago · About Ethereum. Ether (ETH) (Ξ) is a cryptocurrency whose blockchain is generated by the Ethereum network. Unlike Bitcoin, which aims to disrupt the banking system with its Missing: redd. Reddcoin is currently available to trade on just a handful of exchange platforms, the most prominent of which is Bittrex. As of November , Reddcoin can be traded against Bitcoin .