How do Reddit community points work?

"Your Community Points exist on the blockchain, independently of Reddit, where they can only be controlled by you (just like Bitcoin!). Neither Reddit nor moderators can take your Points away or decide what you do with them," says Reddit in an FAQ explaining the new feature. Also, when you spend them, the "Points are 'burned' (destroyed).

What are points & how do they work?

As a unit of ownership, Points capture some of the value of their community. They can be spent on premium features and are used as a measure of reputation in the community.” Ultimately points are an ERC-20 token. A type of cryptocurrency on the Ethereum blockchain.

What is MyPoints & how does it work?

MyPoints is the pioneer and leader of online shopping rewards. Through simple online purchases from hundreds of retailers within the MyPoints network, members earn rewards Points from every transaction made. Members can redeem their Points for gift cards, travel miles or cash back.

Does Reddit have a special memebership?

First and foremost, the biggest new feature that Reddit has launched is their ability to get a “Special Memebership” in each subreddit using community points. This is different than “Reddit Premium” which works across all sections of Reddit.com to remove ads. Instead, this membership is unique for each community.