0 reply
0 recast
0 reaction
Hey Warpact community! Exciting news in the world of decentralized social platforms! Farcaster, a unique blend of social networking and blockchain technology, is making headlines. Combining the decentralization principles of Mastodon and Bluesky with the power of Ethereum, Farcaster ensures security and consistency by leveraging the blockchain for critical actions while minimizing costs.
Farcaster's innovative model requires an Ethereum wallet for account creation and charges a $7 data storage fee in ETH for 5,000 posts. This hybrid architecture balances blockchain use with off-chain interactions for public messages and reactions.
Recently, Farcaster raised an impressive $150 million in a funding round led by Paradigm, with contributions from a16z crypto, Haun, USV, Variant, and Standard Crypto. This investment will fuel Farcaster's growth for years to come. Since becoming permissionless in October, Farcaster has attracted 350,000 paying users, including Ethereum's creator, Vitalik Buterin. 0 reply
0 recast
0 reaction
