Alpha utilizes a hybrid blockchain model with Polygon, Bitcoin, and Trustless Computers by leveraging Optimistic rollups for another decentralized social network.
Following a coding sprint lasting 48 hours, a Friend.tech copy named Alpha was unveiled atop Bitcoin this weekend. This brought a social token experience to the recognized blockchain utilizers.
Hybrid Blockchain-based Decentralized Social Network Protocol Allowing Toke Monetization
Like Friend.tech, established on Base, an Ethereum scaling platform, and experienced numerous activities in the previous month, Alpha is a decentralized social network protocol that allows users to use tokens to monetize and tokenize their online content and presence.
Simply put, individuals can purchase tokens linked to personal creators that decrease or increase in cost and may be utilized to acquire access to select content. It is another personification of the concept of ‘social token,’ and these types of social finance projects are typically considered a means to introduce other users into the crypto world.
Following the recent Friend.tech surge, Punk3700, the founder of the pseudonymous Alpha, claimed that his Bitcoin-founded platform was ‘the future major leap in the social finance world.’ In spite of creating it in a weekend, he claimed the project ‘seeks to introduce a select and comfortable experience to social interactions.’
Bitcoin-based Ecosystem Experiments with On-Chain Elements
At the time of writing, it was established that new users were joining the network every few minutes. Besides, most of them accumulate a significant number of followers on Twitter.
Punk3700 is one of New Bitcoin City’s crucial members. This ecosystem is experimenting with on-chain gaming, art, artificial intelligence (AI), and decentralized finance (DeFi) to ‘explore Bitcoin past being solely a currency.’
Despite Alpha being the most recent development of the collective, its special tech stack is not entirely focused on Bitcoin. The founder claims that Alpha ‘manages a rollup that rolls up to another that rolls up to Bitcoin.’
This means that it utilizes several blockchain platforms to develop a scalable and responsive experience. The project uses a hybrid blockchain structure comprising numerous elements, including Polygon, Bitcoin, and Trsutless Computer, the project’s Bitcoin scaling network.
Trustless Computer No-Code Tool Permitting Developers on ZkRollups
New Bitcoin City’s website describes a Trustless Computer as a low-cost and quick layer-2 blockchain developed atop Bitcoin capable of supporting things, for instance, NFT marketplaces, a decentralized exchange (DEX), and tokenized communities referred to as decentralized autonomous organizations (DAOs).
The no-code tool permits developers to opt whether to execute zero-knowledge rollups (zkRollups) or Optimistic rollups to facilitate applications developed atop Bitcoin. Alpha’s hybrid design utilizes Optimistic rollups as a scaling remedy by shifting data storage and computation away from Bitcoin. At present, it embraces Polygon, the Ethereum scaling network, utilizing it for data storage. However, Punk3700 claims that ‘where possible,’ data availability can finally reside wholly on Bitcoin.
This is one of the variations between Alpha and Friend.tech. Friend.tech is developed on Base and exploits rollups directly on Ethereum, hence receiving the network’s security. Alpha must seek solutions from elsewhere.
Bob Bodily, the chief executive officer of Bioniq, an Ordinals marketplace that operates on a Bitcoin sidechain, claimed that currently, Rollups on Bitcoin are not real rollups due to Bitcoin’s inability to confirm proofs. The absence of confirmation indicates that a specific centralization level will prevail.
Individuals Eager to Experiment New Technology
Bob also disclosed that often, people do not wait around for total decentralization and highlighted the billions locked in Ethereum’s layer-2 networks. Individuals are eager to experiment with new technology. He is not delighted by the replies from Alpha’s team in response to concerns expressed concerning the project. He stated that he still did not know the owner of the smart contracts utilized on the Ethereum Virtual Machine (EVM) rollups. Additionally, he did not know if they were unchallengeable or upgradable.
Tokenomics also raised some significant issues; the team has not addressed them yet. The Trustless Computer Website shows that the token supply is nearly $100M TC, with those sitting in a single address being 99.8%.
Emblem Vault Facilitates Token Storage Across Multi-Blockchains
Bodily claimed that despite investigating the explorer, it is difficult to make sense of it. Even in the presence of these concerns, the introduction of Alpha has sent excitement across the Bitcoin space, similar to how the NFT-like Ordinals protocol and the BRC-20 token did early in the year.
Jake Gallen, Emblem Vault’s strategy lead, has played a significant role in the launch. Emblem Vault is a tool that promotes tokens’ storage across blockchains without requiring a bridge. Gallen claimed that there exists a more authentic feel to it and cited a welcoming user experience as well as the fact that airdrop farming is unnecessary.
He concluded that if one creates a brand, the objective should be to ensure awareness across platforms. Similar to how most persons possess social media accounts across several applications, crypto users will utilize SocialFi on their preferred blockchain.
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