The ascent of Decentralized Social Media or DeSoc is underway, propelled by advancements in blockchain scalability and the progressive integration of Web3 technology. An array of protocols and applications for decentralized social media have emerged, spanning various sectors like user interfaces, application frameworks, social connections, and foundational layers. However, there are some challenges that the DeSoc (Decentralized Social Network) space encounters.
What is CyberConnect (CYBER)?
Similar to how blockchain made it possible for value transfers between two individuals without any interference from the third party, CyberConnect envisioned a fairer social web where the value flows directly between the creators and their audiences rather than being extracted by third party platforms.
As a platform, CyberConnect is aiming to pose challenge the status quo. They are doing so by furnishing a foundation for developers to create fair and inventive social applications which are community-owned. At its core, CyberConnect is a social graph protocol that has identity self-sovereignty and network effects. Its core emphasis is on preventing explorative censorship by authorities that are centralized.
|Founder||Wilson Wei and Rayn Li|
|Blockchain Protocol||Ethereum blockchain|
|Token Type||Utility and governance token|
|Consensus Method||Proof of Stake (PoS)|
Who are the Founders of CyberConnect?
In November 2021, the inception of CyberConnect took place, thanks to the collaborative efforts of Wilson Wei, Ryan Li, Shiyu Zhang, and Zhimao Liu. The umbrella organization Cybertino Inc., which oversees CyberConnect, secured substantial investments from notable venture capital entities such as Animoca Brands, Multicoin Capital, Sky9 Capital, Draper Dragon, and Lattice Capital. The capabilities of CyberConnect have been harnessed by software developers for crafting innovative Web3 social dApps.
How does CyberConnect work?
Source: Dune Analytics
The workflow of CYBER revolved around CyberAccount. This represents the foundational stratum of identity, furnishing every user with an autonomous web3 account under their control. Through CyberAccount, distinct identifiers such as username.cyber are assigned. In the near future, CyberAccount will drive the onboarding of users reminiscent of web2 practices, enabling them to establish their web3 identity effortlessly through social logins or email registration.
Once registered, the users can then mint an NFT, which will represent their CyberID handle.
Did you know? CyberID NFTs use a recurring fee model instead of permanent ownership.
What makes CYBER Unique Use Cases?
- First launched in Q3 of 2021, CyberConnect V1 was a decentralized social graph protocol that enabled developers to build social apps that took advantage of a shared data layer of user connections and content. Its major update came with its major upgrade in V3. It was an ERC-4337 compatible identity system, with the core innovation being CyberAccount. It serves as the embodiment of an individual’s self-sovereign digital identity. By simplifying intricate intricacies, CyberAccount facilitates seamless integration throughout the CyberConnect ecosystem alongside the CyberID.
- One of the significant elements of V3 is CyberGraph, which consists of a series of intelligent contracts designed to store social data on the blockchain. This addition widens the range of possibilities available to content creators through features like collectible content and subscription models. CyberGraph establishes connections between users’ identities, content, and relationships through customizable middleware. To enable further development, CyberConnect supplies developers with middleware tools to create their applications on this foundation.
- In terms of scalability, CyberNetwork introduces an economical settlement layer, effectively minimizing blockchain fees. This innovation effectively addresses the challenges posed by the necessity of recording extensive social data on the blockchain.
CyberConnect (CYBER) Price Analysis
- Since its listing, CYBER’s price has seen a major resistance at $5. The recent value poses a probable cause for it to reach $5 by the end of August 2023.
- Currently standing at $4.42, CYBER has a market cap of $46,916,376. With more improvements on its way, the price can break through the $5 mark and reach higher by the end of the year.
|CYBER Price Today||$4.42|
|Price Change (Yearly)||–|
|Market Rank (as per CMC)||357|
|Fully Diluted Market Cap||
How to Buy CYBER Tokens in India?
To buy FORTH Token in India, just follow the below mentioned steps:
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