Chainfeeds Introduction:
Farcaster is not only a decentralized social protocol, but also a top VC incubator. Its architecture allows identity data to be stored on the blockchain (OP chain) and content data to be stored in a distributed database (Hub). This design ensures data security and user autonomy, and provides developers with a great creative space. Crypto researcher UNAI YANG wrote an article to explain several reasons why he is optimistic about Farcaster.
Source:
https://x.com/erliangerliang/status/1833077749876920812
Article author:
UNAI YANG
Viewpoint:
UNAI YANG: The core of Farcaster lies in the openness of its protocol layer, which supports the construction of various applications. One of the most successful examples is Warpcast, which is not only the most popular application based on the Farcaster protocol, but also accounts for 80% of the users on the protocol. Warpcast uses Farcaster's social graph to provide developers with a rich social relationship network that can be used to develop new applications, such as social platforms and content recommendation engines. 1. Community is the core driving force: Farcaster allows developers to create personalized applications based on users' social relationships through its social graph and decentralized features. Using its open protocol and decentralized architecture, it promotes close cooperation between VC and builder, accelerating product testing and optimization. By connecting VC and builder, Farcaster has formed a community with innovation and capital support as the core, promoting product incubation and market verification. Farcaster's open protocol is similar to Twitter's API, allowing developers to build various applications based on the protocol and innovate using social graphs. 2. The future of decentralized products: Farcaster is based on the concept of decentralization, providing users with greater data control and developers with more room for innovation. Similar to Twitter's Bluesky project and Keep's community model, Farcaster's decentralized nature enables innovation and promotes the balance of market demand. 3. The power of combining social functions with product incubation: Farcaster promotes product creation and incubation through the interaction between VC and builder, puts creativity into practice, and forms a closed-loop product development path. 4. Daily interaction between innovators and investors: Farcaster can capture product problems in real time and make adjustments through continuous interaction between innovators and investors, accelerating product iteration. 5. Closed loop from product incubation to market verification: Farcaster quickly helps founders identify market needs and adjust directions in a timely manner through its high-density VC and builder community. Through continuous interaction, it helps founders quickly obtain market feedback and form a closed loop of product iteration. 6. Revenue model: Farcaster's revenue sources include new user registration, old user renewal, and additional storage space payment. Currently, the Farcaster protocol has accumulated revenue of more than 2.3 million US dollars, with an average daily income of approximately US$1,290 and approximately 670,000 users. This stable revenue and user base ensures Farcaster's long-term success.
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