Decentralized Social Media Platform Friend.Tech Faces Slowdown
The popularity of decentralized social media platform Friend.Tech has been declining rapidly just four months after its launch. This decline is attributed to issues with its bonding curve, which has prompted a reflection on the redesign of bonding curves in the crypto space.
Vitalik Buterin Criticizes Friend.Tech and Highlights Other Decentralized Social Apps
Ethereum co-founder Vitalik Buterin referred to Friend.Tech as “Bad DeFi” and emphasized the importance of blockchain games being fun. However, he remains optimistic about other decentralized social apps such as Farcaster and Lens.
Farcaster Registers Significant Growth
Farcaster, a decentralized social app protocol, has seen a surge in daily active users following the introduction of “frames” on its social media application Warpcast. The addition of frames allows users to perform various actions within the app itself, resulting in a significant increase in user engagement.
Lens Empowers Developers to Create Next-Gen Social Media Apps
Similar to Farcaster, Lens is a decentralized composable social graph that provides developers with the tools to create innovative social media applications.
Hot Take: The Rise and Fall of Decentralized Social Media Platforms
The decline of Friend.Tech highlights the challenges faced by decentralized social media platforms. While some platforms like Farcaster and Lens continue to show promise, it is clear that creating engaging and user-friendly experiences is crucial for long-term success in this space.
By
By
By
By
By