Reddit launches its “Community Points” system using the Ethereum blockchain

In what has been an anticipated development for several weeks, Reddit has finally launched its Community Points system for two Reddit communities, r/CryptoCurrency and r/FortNiteBR. The community points currently operate as tokens on an Ethereum testnet, and the plan for switching to the Ethereum mainnet is slated for later this year.

Telegram backs away from Telegram Open Network over spat with US Government

The Telegram Open Network (TON) is on record as one of the most successful Initial Coin Offerings (ICOs) of 2017. Telegram raised over one and a half billion dollars for their decentralized and open source network. However, it appears the Securities and Exchange Commission (SEC) has succeeded in its lawsuit, claiming the ICO was actually an unregistered securities sale. It was just this past week that Telegram was confirmed to have backed away from the project entirely.

Bitcoin mining rewards have halved

The third Halving in Bitcoin’s history was successfully completed on Monday, May 11th. The Bitcoin code automatically cut the rate of mining rewards in half so now just 900 Bitcoins are mined per day. This means that the inflation rate for Bitcoin now stands at around 2%, a number that most central banks around the world aim for when managing the inflation rate of traditional currencies.

Crypto Twitter creates a controversy over interactions with Harry Potter author JK Rowling

This past week famed author JK Rowling posted on Twitter that she didn’t understand cryptocurrency. In what quickly became a frenzied mess, the author was swarmed with all kinds of responses, some legitimate, and others not so much. Elon Musk even joined in and told JK Rowling that he doesn’t understand it either, but that he still owns .25 BTC.

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