- Farcaster is a social media protocol on Ethereum’s Optimism that emphasizes eliminating bots through limited user posts based on storage units. The most popular app is Warpcast, similar to Twitter.
- Warpcast accounts for almost half of Farcaster’s signups. Most popular accounts are major crypto figures. Warpcast allows posting, following, liking, and sharing.
- Farcaster recently introduced Frames, which allow on-chain and off-chain functions without exiting the app. After launching Frames, Farcaster’s daily users and engagements skyrocketed over 1300% and 23,000% respectively.
Farcaster is a social media protocol built on the Ethereum scaling network Optimism. The most popular Farcaster app is Warpcast, a Twitter-like platform. Farcaster emphasizes eliminating bot activity through storage units that limit user posts.
What is Farcaster?
Founded by Coinbase alums Dan Romero and Varun Srinivasan in 2020, Farcaster allows users to create integrated apps that perform social media functions. The network shares selling points with other decentralized social media protocols: no censorship, user data control, and seamless interoperability between apps.
Warpcast Accounts for Almost Half of Farcaster Signups
Most of Farcaster’s popular accounts are major crypto players. Warpcast, a Twitter-like app, accounts for almost half of Farcaster signups according to on-chain data. This app allows users to write posts, follow others, and like or share posts.
Storage Units Limit User Posts to Prevent Bot Activity
To prevent spam accounts, Farcaster requires a $5 signup fee. Additionally, storage units grant limited posts and reactions. Users can buy more units via a complex process. This structure aims to prevent bot comments and likes.
Frames Power On-Chain and Off-Chain Functions Without Exiting the App
The most popular Farcaster innovation is Frames, launched on January 26. Frames allow users to perform functions like minting NFTs and making purchases without exiting the app. Frames will expand to Solana soon.
Farcaster Daily Users and Engagements Skyrocket After Introducing Frames
Within days of launching Frames, Farcaster exploded in popularity. Daily users shot up over 1300% to over 28,000. Daily engagements grew from 100,000 to over 23 million. Over 125,000 users have signed up so far, a major milestone for an on-chain network.