A novel development has taken the cryptocurrency world by storm as the Alpha project has introduced a groundbreaking community-based social token ecosystem within the Bitcoin network.
Alpha, positioned as a decentralized social network protocol, shares similarities with the well-known Ethereum-based platform Friend.tech.
Its primary function is to enable users to monetize their online presence and content creation by utilizing social tokens.
Distinguishing itself from Friend.tech, Alpha employs a unique structural composition.
It hinges on the security and immutability of the Bitcoin blockchain for finality, while data storage is facilitated through the Polygon blockchain.
Notably, the project has introduced Trustless Computer as its proprietary scaling network for Bitcoin. Co-founder Punk3700, operating under a pseudonym, eloquently described Alpha as “a rollup that rolls up to another rollup that rolls up to Bitcoin.”
In an exclusive conversation with Cointelegraph, Punk3700 shed light on the intricate architecture of Alpha. He explained, “Alpha implies a layered architecture that includes NOS-TC.
Trustless Computer (TC) is an optimistic rollup layer that directly integrates with the Bitcoin blockchain. NOS is implemented as another optimistic layer, enhancing scalability on the Bitcoin network.”
These optimistic rollup layers, he emphasized, collaborate harmoniously to ensure both security and efficiency in the deployment of decentralized applications.
Punk3700 elucidated further, stating, “NOS adopts a hybrid design that leverages Bitcoin for data validity and Polygon for data storage, ultimately settling on Bitcoin.”
This ingenious approach not only enhances flexibility in data storage but also serves to mitigate the exorbitant transaction fees associated with Bitcoin.
The user-centric ethos of Alpha is exemplified by its community-driven development approach.
Punk3700 revealed that the project was conceived and launched in an astonishingly brief 48-hour window.
To further incentivize user engagement, a referral program is currently in development, allowing users to earn 1% of their friends’ trading volume.
This move is poised to encourage user participation and motivate content creators to produce valuable content.
Meanwhile, Alpha is experiencing rapid user growth, contrasting with recent developments at Friend.tech.
The latter platform recently announced penalties for users engaging with forked or copycat versions of its platform, as it seeks to reward loyal users during its beta phase.
This decision followed concerns about a decline in key metrics, including user activity, inflows, and volume.
Additionally, Friend.tech grappled with rumors of a data breach, which the platform vehemently denied, assuaging fears regarding the exposure of over 100,000 user’s personal data.
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