What is Farcaster, and why did it raise 150M USD?

https://fediversereport.com/what-is-farcaster-and-why-did-it-raise-150m-usd/

I take a deep dive into crypto-based social network Farcaster, aka Torment-Nexus-on-the-blockchain.

I think that crypto/web3 is mostly really dumb and bad, but I also do think that what happens on other decentralised social networks is relevant to understand the fediverse. The different protocols influence each other and I dont think they should be understood in isolation. That is why I wanted to have a better understanding of what Farcaster is, and why a16z wanted to spend so much money on it.

18 points · 7 comments · view on lemmy.world

7 Comments

lambalicious@lemmy.sdf.org · 1 pts · 2y

crypto based

well, there goes my interest.

AtHeartEngineer@lemmy.world · -6 pts · 2y (12 replies)
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knightly@pawb.social · 6 pts · 2y (11 replies)

Seems inefficient, couldn't the same thing be accomplished using local DBs rather than the world's most inefficient ledger?

AtHeartEngineer@lemmy.world · 1 pts · 2y (10 replies)
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knightly@pawb.social · 3 pts · 2y (9 replies)

What if we don't want global usernames? What if we're entirely satisfied with global user IDs in a DHT?

AtHeartEngineer@lemmy.world · 3 pts · 2y (8 replies)
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knightly@pawb.social · 1 pts · 2y (7 replies)

No worries, I'm merely confident that the tradeoffs necessary to employ a blockchain aren't worth the supposed benefits thereof.

AtHeartEngineer@lemmy.world · 1 pts · 2y (6 replies)
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knightly@pawb.social · 2 pts · 2y

We already have that, it's called a Distributed Hash Table, no blockchain required.