1/6/2024 0 Comments Yahoo finances futures![]() The remaining part of this article explores Connect protocol, a fully decentralized and censorship-free social networking platform, which uses practical web3.0 technologies to address the lingering problems of traditional social networking services.Ĭonnect Protocol: Reinventing Social Networks Using SBT and Metaverse TechnologyĮarlier in May of 2022, Ethereum founder, Vitalik Buterin co-authored a paper on Soulbound tokens as a re-spin on conventional NFTs, which will allow for the creation of non-transferable tokens. This also begs the question- "what other social alternatives, with sufficient network effect on a global scale, does the world have besides the ones provided by the big tech giants?" Also, cases of user privacy infringement for social engineering purposes are no longer headline news.įor instance, Facebook's Cambridge Analytica data scandal proved to the world why user data should not be left in the hands of tech operators with a multi-million user database. It's a case of " Say what we don't like and we will send you packing baby". High content censorship, user privacy invasion, high risk of hacks, and account theft. In other words, users of 21st-century social networks could be likened to citizens of an oppressive totalitarian regime. Sadly with all of this growth, the user experience with traditional social media platforms built on web2.0 internet architecture is somewhat back in the stone ages, with its privileges and user boundaries. Now before we explore all of these solutions, let's explore social networking technologies from the ground up. By the way, the latter is a major problem with social networking services, as we will find.Įven more, Connect protocol offers practical use of metaverse, a necessary interaction tool for remote work, and finally has everything powered by its all-new Connect to Earn protocol. ![]() It unravels a new social networking paradigm, built over a web3.0 internet with SBTs as a solution for user identity validation. Whatever you already know or think about these technologies, this article explores Connect Protocol, a practical use case of these technologies. The second "SBTs'' (Soulbound tokens) is something somewhat groundbreaking and in fact was first pitched by Ethereum's founder Vitalik Buterin in a co-authored research paper titled " Decentralized Society: Finding Web3's Soul". The first "Web3.0" is almost becoming a crypto buzzword as we on-ramp into Ethereum's 2.0 chain update. Dubai, United Arab Emirates - ( NewMediaWire) - SeptemTwo keywords stand out from this publication "Web3.0" and "SBTs".
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