The most simple, and most popular, form of moderation of cooments is to rank according to a simple difference, score = #upvotes - #downvotes. However, this scoring function significantly over-weights comments that have a high number of views, typically comments that were posted within the first hour of a submission. In this paper, author points out that this ranking task is very similar to the multi-armed bandit problem, and that there are a number of alternative approaches developed in this area that likely outperform this lower bound approach.
You can see Java code for this algorithm
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