Why Farcaster is gaining traction as an alternative to X
Farcaster, a groundbreaking decentralized social media protocol, has been making waves after a recent update drew in thousands of new users. Created in 2020 by Coinbase veterans Dan Romero and Varun Srinivasan, Farcaster is based on Optimism, an Ethereum scaling network. The platform provides a transparent, uncensorable online social experience, earning praise from crypto bigwigs like Ethereum co-founder Vitalik Buterin and core developer Tim Beiko.
Warpcast is the most popular app on Farcaster
Warpcast, an X-esque platform for posting "casts," is the most popular app on the Farcaster network. Users can follow others, like or share posts, and it accounts for nearly half of all sign-ups across the entire protocol. Farcaster's main attractions include no censorship, control over personal data, and smooth account interoperability across all network apps, unlike conventional social media platforms such as X (formerly known as Twitter) and Instagram.
Farcaster's approach to eliminating bot activity
To tackle bot activity, Farcaster charges a $5 (around Rs. 415) sign-up fee and limits the number of casts users can post. For $5 each, users receive storage units that allow 5,000 casts, 2,500 reactions, and 2,500 links or photo posts within a year. Additional storage units can be acquired through a technical process. This setup aims to prevent the platform from being flooded with bot comments and likes that often plague traditional social media platforms.
Frames is a game-changing feature
Introduced last month, Frames is a new feature that enables users to perform various functions within Farcaster apps without leaving to a third party. On Warpcast, users can click on a Frame posted by someone they follow and perform actions like minting NFTs, exploring art galleries, playing games, subscribing to newsletters, and making online purchases. Frames is powered by Farcaster's EdDSA authorization system, which co-founder Dan Romero says eliminates the risk of wallet drains, spoofing, and other malicious crypto hacks.
Farcaster's rapid growth and future plans
After launching Frames, Farcaster's daily user count soared from around 2,000 to over 28,000, with the volume of casts and likes jumping from 100,000 daily engagements to more than 2.3 million. Currently, over 125,000 users have signed up for Farcaster. While on-chain functionality for Frames is limited to Ethereum-affiliated networks, Farcaster's founders plan to extend support to Solana as early as next week. This expansion could further increase the platform's popularity among crypto enthusiasts and beyond.
