jakiro
Author: haotian Source: Twitter
How to think of ParadigM led a decentralized social agreement @farcaster_xyz?I believe many people will have questions: 1) Is the $ 1 billion valuation of the A round expensive?2) What is the difference between it and social protocols such as NOSTR and Lens?3) What is the principle of technical architecture behind it?4) What opportunities does it bring to the Social plate?Next, simply talk about my understanding:
1) Although many high -FDVs and low -circulating tokens have been controversial recently, there is a voice that VC has promoted the existence of such “online is the pinnacle”.For the time being, other projects are not evaluated, as far as Farcaster is concerned, $ 1 billion is valued at $ 150 million in round A round, is it expensive?I don’t think it is expensive.
Because Farcster is not just a protocol limited to the web3 field, it has the potential of rushing to solve social platform privacy protection and data ownership, especially the problem of advertising information.From the perspective of the web2 valuation system, it is not expensive at all.Most of those high -FDV but reality are mostly due to the predetermined expectations and the contrast of realization of value.In my opinion, Farcaster’s current expected value can support the VC valuation of 1B.
2) Farcaster and Nostr, Lens, etc. are three different decentralized social network protocols.Personal observation and analysis research believes that Farcaster is more likely to land and can capture wider market value.
NOSTR is a minimalist P2P message transmission system. It is more technical design of the upstream communication architecture. It is aimed at the future subversive value, but the lack of strong application market drive is therefore hovering at the conceptual stage;
LENS emphasizes the ownership and interoperability of user data, and has deeper binding with the current framework of the blockchain, but it is too dependent on tokenomics incentive expectations, resulting in its slow application of ecology.
Farcaster uses a decentralized identity layer (on the chain), an applied application layer (under the chain), aside from the message storage and communication incentives of the agreed layer.Nearly 400,000 users, growth potential is evident.
NOSTR once made many developers obsessed first and then fell into helplessness, and Lens was controversial because of the delay of Tokenomics.In contrast, the Farcaster protocol mixed chain and the under -chain environment have a better social ALPHA platform fundamentals. Whether it is the early users’ experience of word of mouth or the out of the community assets such as $ Degen, people have a kind of “full value full valueThe growth expectations of “full”.
3) Farcaster’s technical operation architecture, a brief understanding, is built on OP Stack, consisting of two most of the two -in -chain protocol (ID) and under -chain protocol (storage+communication+client):
The upper part of the chain is mainly to create, manage and store the user status. The purpose is to generate the key pair of the account link to the Ethereum address link on the chain, which is convenient for users to match the data matching and retrieval after the client is transferred in the later period;
The lower part of the chain is divided into the back -end information storage system and the front -end user interaction system:
The back end is equivalent to NOSTR’s Relay information storage and forwarding operating system. Many HUBS nodes are used to store users’ data and distribute them between node networks;
The front end is operated by some clients similar to WarpCast. With the help of the Frams -interactable application innovation, and the operating mechanism such as paid registration and the creation subscription of Channel has achieved a benign growth, the goal is to provide users with the same interactive experience of the web2 social platform.
It should be said that the overall technical architecture framework of Farcaster is not complicated, and it has not only adopted the essence of NOSTR’s back -end communication decentralized architecture, but also uses the WARPS integration system to avoid the continuous growth of pure token incentives.In particular, the front -end interactive experience of Frams is similar to the preferences of the web3 user group, and the payment end of the payment end is natural and the web3 wallet environment. It is easier to Onboard with high -quality user groups with paid habits.
On the whole, the growth expectations and potential of Farcaster will accelerate the landing of the decentralized social protocol ecosystem. I am very optimistic.
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I think Farcaster should not be classified as SocialFi, and it may fit more with Desoc.
In the short term, Farcaster will not be too hot to be put under the spotlight because its registration threshold and paid experience will block most ordinary users from flowing in, but in the long -term perspective, this will avoid it falling into the short -term explosion of SocialFi.The weird circle of decline has really attracted long -term retaining users with social demand and care for data privacy and data ownership. It is worth locking and paying attention to its development.
Note: My personal WarpCast account has been opened, ID: haotian, and also created a CRYPTO-CN for the Chinese community.No matter how much you say, it’s better to see it. Everyone experiences it.
