PANews reported on December 7 that Farcaster co-founder Varun Srinivasan stated on the X platform that Farcaster's new social network data layer Snapchain will enter Alpha testing in December, with the goal of a full launch in the first quarter of 2025. Snapchain is written in Rust and can handle 10,000+ TPS, supporting millions of daily active users. Snapchain allows users to pay an annual fee for unlimited transactions. Users create accounts by initiating transactions to the registration contract on the OP mainnet. After creating an account, users can sign Snapchain transactions using the "application key" configured in the registration center.
