Find out about the latest blockchain news and how adoption has spread across sectors in today’s edition.
Reddit announced a new points system based on Ethereum blockchain technology
Reddit has launched its new community point system based on the Ethereum blockchain. This was announced through a slideshow.
Reddit announced that Redditors can now earn rewards in the form of ERC-20 tokens based on the Ethereum blockchain to create engaging content on the platform.
This confirms the claims that many users made about Reddit in April with a blockchain-based reward system.
Users can save their community points or purchase premium community features such as badges, custom emojis, and GIFs in the comments.
The blockchain technology market will reach $ 21.07 billion by 2025
Continuing the latest blockchain news, it became known that a study by Fortune Business Insights, a company that offers market research and consulting services, estimates that the blockchain technology market will reach $ 21 billion by 2025.
This was reported by GlobeNewswire and indicated that the blockchain technology market reached $ 1.64 million in 2017. In this sense, it is estimated that it will reach $ 21.07 billion by 2025.
The main reason for this is that companies around the world are expanding their investments in blockchain technology.
Binance freezes stolen Upbit funds
In news outside the blockchain issue, we find that Binance has frozen funds related to the Upbit cryptocurrency exchange violation of $ 49 million after hackers attempted to liquidate some of their illegally generated earnings .
May 13th Whale Alert tweeted that a transaction with 137 ETH (USD 27,164) transferred funds from the hacked Upbit exchange to Binance.
Less than an hour after choosing the transaction, Changpeng Zhao, CEO of Binance, or CZ, interfered in the tweet thread to report that the funds transferred to Binance were frozen.
The Chinese central bank wants to accelerate the introduction of blockchain technology
The People’s Bank of China’s Financial Technology Committee (PBoC) held its first meeting of the year this week. During the meeting, deputy governor of the central bank, Fan Yifei, pushed to speed up the country’s blockchain adoption strategy.
According to a published report, the bank’s deputy governor met with both PBoC officials and the heads of affiliated finance companies.
During the talks, Fan also highlighted the importance of the blockchain and fintech industries and was openly trying to ensure that the country’s adoption plan was successfully implemented by the 2021 due date.