Reddit Crypto Subreddits Go Private in Protest: API Pricing Impact on Blockchain Communities

Posted on by Artificial Intelligence
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Numerous communities on the renowned social media platform Reddit, including well-known crypto subreddits, have collectively resolved to go private for 48 hours to oppose the contentious charges imposed on developers of third-party applications. With a total of 3,489 subreddits participating in the protest, it includes five of the top 10 most popular communities on the site such as r/gaming, r/aww, r/Music, r/todayilearned, and r/pics – each boasting memberships of over 30 million people.

Reddit’s smooth operation heavily relies on its moderators. However, in April, the social media company declared that it would be implementing some alterations to the website, including preventing users from having open access to APIs and tools. Third-party apps like Apollo, Reddit is Fun, Sync, and ReddPlanet were established as a means for individuals to use the platform on their mobile devices before Reddit launched its own app in 2016.

Recently, Reddit has introduced a series of charges for developers who wish to continue utilizing its Application Programming Interface (API) – the undercover code allowing third-party apps to locate and display content on Reddit. Consequently, all four of these apps have announced that they will be shutting down due to Reddit’s new API pricing.

In response to these changes, popular crypto subreddits such as r/Bitcoin, r/CryptoCurrency, and r/cardano have joined the protest by going dark. As a result, these and thousands of other subreddits will remain private or in read-only mode between June 12 and 14, protesting the modifications.

With plans for an IPO in the works, Reddit is calling on developers to pay $12,000 for every 50 million requests. The Apollo developer has mentioned that using Reddit’s APIs would cost him $20 million per year. According to BBC, the protest may extend beyond 48 hours for some subreddits, as the community demands that Reddit reverse the adjustments.

In related news, Elon Musk has expressed support for Reddit in their API pricing dispute. While the content shared here may reflect personal opinions of the author, it is essential to conduct thorough market research before investing in cryptocurrencies, as the author or publication will not be held responsible for any personal financial losses.

Source: Coingape

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