Ryan X. Charles was the official cryptocurrency engineer at Reddit, and readers may remember his abrupt firing earlier in the year. In a new blog post, Charles talks about how the CEO at the time of his hiring was in favor of decentralizing Reddit.
The post makes plain the basics of decentralizing a social media platform the size of Reddit although it doesn’t delve too deeply into the mechanics. Bitcoin would be essential in terms of incentivizing a lot of people to host the content of a lot of other people. This is the fundamental reason many systems cannot be decentralized without some loss of quality: someone has to pay for it eventually, someone has to do the work.
Also read: Reddit Loses Strategic Interest In Bitcoin
Charles’ proposal acknowledges the payment problem and starts there.
Each user funds their own app with a small amount of bitcoin. In order to download content, the user pays a very, very small amount