Reddit cofounder ethereum

Published 21:07 от Vorn

reddit cofounder ethereum

He thought it would go unnoticed because we would be full and occupied with family on Christmas Day!. What Happened: Reddit co-founder Alexis Ohanian announced a $10 million investment in Moonbirds, a collection of 10, NFTs on the Ethereum. Reddit co-founder and venture capitalist Alexis Ohanian is probably better known for his marriage to tennis superstar Serena Williams and. ANDROID DECRYPT JAVAX CRYPTO

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But where does Ohanian put his own money? At least partially in Ethereum. That has primarily evolved into two major use cases: non-fungible tokens, or NFTs , and decentralized finance DeFi. NFTs are digital deeds of ownership, mostly used to convey rights to digital assets such as virtual collectibles, artwork, or trading cards or physical ones. DeFi, meanwhile, refers to any financial service protocol that allows people to lend, borrow, or trade without going through traditional financial institutions.

Both areas have witnessed fast growth over the last year. Though Ohanian is investing heavily in Ethereum, the technologist is open to what emerges and thinks the US must tread lightly to give similar blockchain innovations room to develop. Both cryptocurrencies are trading at less than half that figure, currently. See also: Reddit Stops Accepting Bitcoin.

That popularity will lead to more applications and experimentation on the platform. Ohanian illustrated his theory with the example of Cryptokitties, the app that burst into popularity last year. The app is actually a game, where virtual cats can be bought, bred and sold. When it was launched, Cryptokitties was responsible for slowing down the speed of transactions on ethereum by hogging bandwidth.

Ohanian says its popularity will grow with time. But a similar experience was absent online and this was the reason for the popularity of internet cats. The social media platform has been bullish on bitcoin and other cryptocurrencies since the start.