Opinion: How much are you willing to pay for a better social network?

A few days ago, Jack Dorsey announced that he would fund a small team to develop a decentralized social networking protocol.

Many people are starting to rethink social networking.

At present, the most criticized social platforms should be data privacy issues, and Facebook has become a "evil" party.

At present, social network platforms will analyze your data through various technical means, because only in this way can an active user become the advertising revenue on their financial report.

The team that develops the client for a set of decentralized protocols also needs to find a business model to maintain their ongoing operations. For them, traffic ads may still be the first choice, so will social networks be different from now?

This reminds me of the development of domestic video websites. Is it possible that future social networks will have paid options?

For example, by some technical means, when I pay a certain amount of money to the platform every year, they give me a clean social network. In addition to reviewing the requirements, the platform cannot do any analysis of my information. The process is that I can verify .

If so, should this product be done through an agreement?

We attach so much importance to Jack Dorsey's similar idea because Twitter is one of the largest social networks. They do this, and it is possible for users to complete the parallel migration of data and experience, so that the experience is the smoothest.

What about launching another product option without a protocol, such as Weibo / FB / WeChat? Would it be better?

They re-establish a set of data storage and processing schemes. Users who do not want data to be abused choose this product and pay for it, and feel that it does not matter that they can continue to use the free version.

The question here may be, how much are you willing to pay for a clean social network, and whether the company that provides this product can profit from it.

In a centralized world, Apple is probably one of the companies that care most about user privacy, because they can make enough money through hardware, and there is less motivation for data to become advertising.

So I asked Leon at the dining table, Retric. If I were to give you a set of such products today, keeping the original social media relationship and taking into account data privacy, how much would you pay?

The median of the three of us is about 100 rmb / year. Does this support the closed loop of an independent product?

Readers and friends are welcome to leave their desired product elements and prices in the comment area.

1 new product

1.1 DeFiZap


Deploy assets to multiple smart contracts and multiple DeFi products at one time, saving users gas costs and operating time.

1.2 Sablier


Change the payday in the company, "flow" the currency, and use smart contracts to turn payroll into a real-time, bit-by-bit automated process, rather than a monthly payment. The Orange Book wrote a similar concept before: streaming money

1.3 Onboard.js


Make it easier for developers to integrate third-party wallets and reduce the onboard threshold for users.

2 Investment and financing

2.1 Proof of Impact, a blockchain environmental protection service provider, receives Series A financing


Proof of Impact is a blockchain social environmental protection service provider whose investor Franklin Templeton manages more than $ 700 billion in global client assets. Proof of Impact said that the first round of institutional investment also attracted the participation of Ausum Ventures, Crypto Valley Venture Capital and Pangea Blockchain Fund.

2.2 Digital Asset secures $ 35 million in Series C funding


Digital Asset is a U.S. settlement and ledger developer, providing financial settlement and ledger services. The company develops a new platform, "Private Contract Store", allowing traders to use blockchain technology. The financing was led by Jefferson River Capital and the Australian Securities Exchange (ASX).

Up to now, Digital Asset has received a total of 150 million US dollars in financing.

2.3 German digital currency service provider Upvest secures $ 7 million in Series A financing


Upvest is a German asset token service provider to help companies mark financial assets on the blockchain, a blockchain API specifically designed for fintech companies. This round of funding was led by Concept Capital, with Partech Ventures and Holtzbrinck Ventures also participating.

2.4 Blockchain protocol developer Pandora Core AG is acquired


Pandora Core AG is a Swiss blockchain company focusing on the continuous development of the Bitcoin blockchain network protocol. Its project aims to promote the digitization of assets based on the original Bitcoin chain. The acquirer is cryptoIX, a crypto asset management and investment company.

2.5 Bitcoin mining company Bitfury invests in Shyft Network


Bitfury is an old-fashioned mining company from Russia. It recently announced its investment in the Shyft Network and stated that it will participate in the Staking node of Shyft, and will also use the shift protocol to launch some decentralized verification products.

3 Must Read

3.1 Africa: Square's next stop


@ 风 An: Among the payment giants, Square is undoubtedly the one that most embraces digital currencies, and Africa is regarded by many as a good digital currency testing ground.

3.2 Blockchain is not the first decentralized governance network


@leon: In 1990, later Nobel Laureate in Economics Paul Milgrom published a paper, "The Role of Institutions in the Recovery of Trade: Merchant Customary Law, Private Courts, and Medieval Trade Fairs", which examined the adoption of reputation A system that inspires the cost-benefit relationship of honest behavior. Milgrom used the prisoner's dilemma and other game theory systems to explain how medieval customary law worked effectively for centuries in such a highly dispersed trading network.

The paper states that traders must be informed of their counterparties' past behavior as a bond of trust. Well-informed businessmen can resist businessmen who have cheated in the past. As long as the cost of obtaining and communicating information does not exceed the cost of transactions, the customary law of medieval merchants under this reputation system can flourish.

3.3 Validity Proofs vs. Fraud Proofs Strike Back


@ 郭宇: There is always a debate in the blockchain world, and there is more and more discussion about Validity Proofs and Fraud Proofs, just like PoW and PoS.

This article directly opens "Optimistic Rollup" …

From the level of a two-tier capacity expansion design agreement, VP and FP represent two technical routes. One focuses on completely relying on cryptography and other technologies, and strictly requires the correctness of state transition. One focuses on the introduction of economic incentives and game theory. Changes made too many restrictions, but allowed participants to submit Fraud Proofs. One party always tries to convince the other party that they are right.

After nearly a year, StarkWare summarized its exploration and thinking about VP and FP: that VP is more secure, more efficient and more scalable. This benign argument makes sense. Both technical routes have many advocates in the community, each of which is advancing development. Maybe in the future, both ideas can get their own market, because after all, Bitcoin also combines cryptography and economic games to succeed.

As a melon-eating crowd, I hope that the more such arguments, the better.

3.4 Blockchain research tools and data collection

The Block’s list of crypto research tools and resources

@Hope: As the title.

3.5 Defence Getting Started Guide for Binance Academy


@ 铁拳: The Defi Getting Started Guide by Binance Academy. After all, it is a getting started guide, so a lot of content is a cliché, but there are still some interesting points. It has a dubbed version, and it has two parts. What are the challenges that DeFi faces (1: poor performance; 2: high risk of user error; 3: poor user experience; 4: chaotic Ecosystem), and also specifically explained what is the difference between DeFi and open banking? This is also a point that is not taken seriously in many Defi articles.

3.6 Negotiating an agreement without a platform


@Leon: In the era of Web 2.0, the platform defeated the protocol. Is the tide now turning?

@ 风 An: In the future, there may be both a platform and an agreement. What I need is an alternative.

3.7 Celo's PoS mechanism


@ 卡 咩: Celo brings several interesting solutions to PoS, one is to turn the electoral unit into a group of validators instead of a single validator to solve the system security problem (the validators in the group can Real name, using the power of group strategy to provide security for the system, which is an advantage over individuals only focusing on themselves);

One is a mechanism that proposes rewards to fiat currencies for validators (Celo is a stablecoin project. There are multiple tokens in its system, Celogold and Celousd. Celo created a conversion contract for the two tokens, although it issued gold to the validators. But the validator can be converted into Usd in time);

There is also a plan for creating incentives for full nodes (in other PoS networks, node operators need to register as validators to get block rewards, pure full nodes have no rewards, but full nodes often bear The API output of the ecological application, so the number of full nodes is particularly important). In addition to the above points, there are some small points in Celo's PoS mechanism that are worthy of attention. I recommend everyone to read this article.

3.8 Behind the German Blockchain Ecological Prosperity


@Jasmine: When we talk about the German blockchain ecosystem, what are we talking about?


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