Farcaster Emerges as Promising Twitter Alternative Despite Early Volatility
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Farcaster is a decentralized social media protocol that prioritizes interoperability, privacy, and user control. It is built on Optimism, an Ethereum scaling solution.
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Vitalik Buterin sees Farcaster as a potential Twitter alternative due to its focus on data ownership and transparent framework.
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Farcaster has a $5 signup fee which deters spam accounts and bots. It also limits users to annual quotas to prevent spamming.
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While showing early promise, Farcaster has seen declining daily revenue, mirroring volatility in crypto markets. Sustaining growth remains a challenge.
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Buterin recognizes Farcaster's strengths like channels and dealing with spam as the next key challenge as it vies to be a Twitter alternative.