Farcaster is a decentralized social media protocol that has been gaining popularity within the crypto community. Built on Ethereum's Optimism network, it provides an open ecosystem where users can control their data and interact across multiple applications. Its standout feature is the focus on reducing bots and spam through a $5 sign-up fee and limited posting tied to storage units. The platform's popularity is driven by crypto influencers and new features like "Frames," which enhance content sharing.