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Compilation: yangz, Techub News
Dan Romero, the co -founder of the decentralized social network, released on Wednesday>announcementIt is said that Farcaster has completed $ 150 million in Series A financing with a valuation of $ 1 billion, and Paradigm leds. Participants include A16Z Crypto, Haun Ventures, Union Square Ventures, Variant Fund, Standard Crypto, etc.Since becoming a non -social network in October 2023, Farcaster’s paid registered users have reached 350,000, and online activities have increased by 50 times.This year, Farcaster will focus on the growth of daily living users, and add the original terms such as channels and direct message transmission to the protocol.Dan Romero said, “In the next few years, we will double their efforts in Farcaster’s vision to truly develop it into an Internet -scale agreement.”
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As the leader of the decentralized social media agreement, how can Farcaster achieve this goal?To this end, Unchaned, Dan Romero and Varun Srinivasan, two co -founders of FarcasterInterviewEssenceThe two founders expressed their views on a series of topics, including the decentralized plan they were about to implement, their current views on cryptocurrency social networking patterns, and their gains during the work of Coinbase.The following is the summary of the main points of this interview.
Q: Farcaster’s decentralization channel (Channels) is about to be launched. Can you introduce more relevant information to us?
Dan romero:We believe that whether it is in the form of subscription or requires users to purchase specific assets to obtain the right to access, it is necessary to allow channel creators to choose whether the community sets a certain economic model. This flexibility can bring higher quality output.Being a community MOD is no longer a hard work, and the output of high -quality content can get the corresponding remuneration.
This is the advantage of the channel.It is similar to Subreddit, but the creator has the channel and can manages it flexibly, which can increase economic benefits in any appropriate way.
Question: What is the difference between the current channel and the decentralized channel that is developing?
Dan romero:The current channel is centralized and stored in the warpcast database.However, the channel content, CAST (similar to tweets or reddit posts) are all on the protocol, so there is no need to be permitted, and the channel’s metadata and curatorial capabilities are not part of the protocol.They only exist in warpcast.
Varun Srinivasan:If you create and set a (decentralized) channel, then all data and everything, including from channel icons to information sources, can run on multiple different clients.All data is decentralized, and the application developed by anyone can display the same version of the channel.Moreover, the channel creators can actually control their channels, that is, it is possible if the creator wants to give its ownership to friends.In other words, after accumulating a group of fans, it is OK to sell it to others.Channel founders have the freedom of doing so.
Question: How much energy do you spend for the decentralized governance of Farcaster?
Varun Srinivasan:Our decentralized governance model is very effective, that is, the so -called rough consensus and code operation (Rough Consensus and Running Code).IETF uses it to create all network standards such as TCP-IP.The reason why it is so powerful is because there is no rigid structure.Its logic is also very simple, that is, if you can create some useful things and make most people believe that it is useful, then you can publish it.
Someone is responsible for managing Farcaster Hub (node stored data in the network).Some people are responsible for developing the application of dialogue with HUB to extract and generate data.There are also users using these applications.These three groups are balanced with each other.… (Therefore) you must launch most of these three groups that people think of good things.Otherwise, they will show their preferences with practical actions.HUB operators can run the old version.Applications can choose different hubs.Users can also choose different applications.All these ultimately balanced and balanced functions can prevent people from forcibly through some things that harm the widespread benefits of the network.
Dan romero:At present, we focus on maintaining simplification of governance, increasing the total number of daily active users, and then launching truly useful development.We can spend a lot of time to establish a complex and roundabout governance structure, but this does not help achieve our goals.
Question: What are the most important concepts from COINBASE to the determination to establish a decentralized social network from the centralized exchange?
Dan romero:Although people are concerned about the development of Twitter after Musk take over, Twitter’s network effect is more sticky than me (initial).We entered the market in 2021. At that time, we found that “people talk about centralization in the field of cryptocurrencies and talk about the needs of other applications in ecology.”Then we naively thought, “It’s great, someone really wants to play new things.” However, it turns out that (user) would rather continue to use existing products.
We really want to provide people with really useful products.In the past few years, we have deeply changed our thoughts … In the end, the only way we won is not because of architecture. To a large extent, it should be a product that people love.
Varun Srinivasan:At the moment of starting, we realized that we will consume the same time to attract users and developers.We soon realized that developing applications and social products is really very difficult.Just developing Warpcast (Farcaster client), we spent about 20 people a year.Without users, it is unrealistic to expect other teams to appear on the first day and decide to cost 100% to develop FarCaster.
Only by establishing clients, telling stories, and attracting users can the value of Farcaster’s value to developers can increase, which is the most useful.Of course, this is not to say that to build a certain SDK, a tool chain or add a function for me.Instead, can you make the number of people using this product 10 times?This is the biggest change in our thinking model since the early days.
Question: What did the two work experience from Coinbase learned, can it be used to guide the development of Farcaster?
Dan romero:According to my experience in Coinbase, I firmly believe that ordinary people are not concerned about everything you are building.They just want a easy -to -use application, and all of this must start from the user login.In fact, even before that, how to locate the product and explain to them?
We can do better in this regard.Farcaster and Warpcast’s current problems will confuse people.We are not even competing with fintech applications, and we must compete with the best social media applications in the world.
So, once the user enters this application, is it interesting enough to make users willing to come again?Many cryptocurrency users like to compare cryptocurrency applications. The reality is that if your application is not so interesting, they will return to Tiktok or YouTube.
Varun Srinivasan:Another point I learned from Brian Armstrong is that no matter what changes happened, I must always focus on building what people want.He said that things will never look as good as, and never look as bad as it looks.One reason why Coinbase has been successful is that whether the market is at a trough or peak, Coinbase always insists on output and constructing.We have gone through multiple cycles in the field of cryptocurrencies and witnessed the implementation of this strategy. We know that long -term focus is the real win.
Question: The cryptocurrency social media ecology currently has participants such as FARCASTER, Lens, Nostr, and Friend.tech. How do the two think about the current pattern?
Dan romero:Compared with centralized social media such as Facebook with billions of users, the total number of cryptocurrencies is not important.We are talking about tens of thousands of users (total) of all decentralized social media, which may be the same group as 100,000 users who use cryptocurrencies every day.
We are interested in how to increase the number of users of cryptocurrency by 100,000 to 1 billion step by step.I don’t think what’s the use of competitors.The key to the problem is: what people want?What are the interesting people?If you can make users feel that the content is interesting and fun, and it will be used every day, the developer will follow.No other things are not important.
Varun Srinivasan:These competitors are slightly different, and our goals are very clear, that is, to carry out business in the cryptocurrency field, allow users to build their own communities and allow developers to create applications for these users.
