Intermediate
What is Farcaster?
Farcaster is a decentralized social network built on the Ethereum and Optimism , designed to offer users a total control over their data and their interactions. Unlike traditional social networks such as Facebook or X (formerly Twitter), Farcaster is based on sufficient principles of decentralization , guaranteeing individual data ownership, confidentiality and resilience in the face of censorship.
Imagine that you are passionate about cryptocurrencies and decentralized finance ( DEFI ): you are already using a digital portfolio and interact with decentralized protocols. Farcaster pushes this experience further, allowing you to really have your digital identity while participating in an innovative social network.
Table of contents
Why is Farcaster different from other social networks?
Classic platforms like Facebook , X (formerly Twitter) or Instagram are based on an economic model focused on targeted advertising. To maximize their income, these platforms implement several strategies which, although efficient to generate profits, limit user freedom and control.
Classic platform practices:
Massive collection of personal data :
these platforms analyze your interactions, interests, messages and navigation habits to establish a detailed profile. For example, if you often like publications related to a particular theme, such as NFT or cryptocurrencies, they will detect your interest in these subjects and sell this information to advertisers. They then pay to target you with tailor -made advertisements, often without your knowledge.Hearing control :
even if you have thousands of subscribers, your publications are not guaranteed to be visible by all. The algorithms decide who sees your posts, promoting the content that generates the most commitment (clicks, likes, shares) in order to maximize advertising revenues. In practice, your audience "belongs to you" only in appearance: it is the platform that decides how and when your content reach your subscribers.Arbitrary banishment of banishment :
if your content or your behavior does not respect their rules - sometimes vague or arbitrary - your account can be suspended or deleted. This leads to a total loss of access to your data, your audience and your interactions, without the possibility of recourse.
What distinguishes Farcaster
Farcaster adopts a radically different approach by resting on two fundamental principles:
Users' sovereignty :
on Farcaster, you are the real owner of your digital identity and your interactions. Your data is saved via the blockchain, which means that you alone have control. Unlike traditional social networks, no intermediary can restrict access to your audience or handle your data.Interoperability and flexibility :
thanks to a hybrid architecture combining On-Chain (Blockchain) and Off-Chain (decentralized servers), Farcaster offers a fluid and economical experience. You can interact with different decentralized applications, explore various network customers and adapt your experience without being locked in a unique ecosystem.
Frames: a major innovation for creators and users
One of the flagship features of Farcaster is the frames , which transform social publications into real interactive mini-support. Unlike the simple images or videos of classic networks, the frames allow you to directly integrate decentralized features within the posts.
What can we do with a frame?
Frames allow new actions in the world of social networks. Here are some concrete examples to better understand their potential:
Create or buy an NFT :
let's take the example of Marius , a digital artist. He shares a unique visual work on Farcaster, with an integrated frame. His subscribers can click on the frame to visualize the NFT details, the Mint (buy and transfer it to their crypto wallet) in a few seconds, and interact with him directly in the same flow. This fluid process eliminates tedious stages and makes transactions accessible to all.
2. Make a decentralized payment :
thanks to the frames connected to solutions like Coinbase Commerce , one user can send cryptocurrencies to another user without leaving their social flow.
3. Participate in surveys or DAO :
imagine a company organizing a vote for a DAO (decentralized autonomous organization). Users can vote directly via a frame integrated into a post, with results recorded on the blockchain for total transparency.
4. Access immersive games or experiences :
developers can design interactive games or experiences operating directly in a frame. For example, a mini-game to win awards in the form of $ Degen tokens.
5. Interactive social predictions :
Certain frames make it possible to engage the community in social predictions . Users can participate in bets or answer questions, with a pool of rewards at stake.
Why do frames transform social networks?
Unlike conventional networks, where interactions are used only to fuel advertising algorithms, Farcaster frames redefine the value of online commitments. They offer users and creators an ecosystem in which each interaction can have a tangible value, whether it is a purchase, a vote or a community reward.
- A new social economy : creators and users can monetize their interactions directly, without going through intermediaries.
- An immersive and collaborative ecosystem : the frames reconnect creators and users in an environment where transparency and autonomy are guaranteed by blockchain.
- An unprecedented simplicity : with Farcaster, which previously required several tools or platforms (such as buying an NFT or voting in a DAO) can now be made directly within the social network.
Farcaster is not limited to being a decentralized social network: it is an innovation platform that merges the worlds of the web3 , cryptocurrencies and social interactions. By offering tools such as frames, Farcaster reinvents the way creators and users interact, collaborate and exchange in a decentralized and secure setting.
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Hybrid architecture for more freedom and performance
Farcaster innovates with a hybrid architecture on-chain (on the blockchain) and off-chain elements (excluding blockchain). This approach offers a balance between decentralization , performance and cost , meeting the limits of classic social networks while providing unique advantages.
On-chain (Ethereum and Optimism): management via smart contracts
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Management of identities with intelligent contracts (ID Registration)
in classic social networks, such as Facebook or Instagram, users' identities are centralized on servers belonging to the company. Your account is linked to an email, a password or a telephone number stored on their databases. These identities are controlled by the platform, which can restrict or delete your access at any time.With Farcaster, the management of identities is based on intelligent contracts deployed on Ethereum and Optimism.
- When registering, a unique identifier called FID (Farcast Identifier) is generated and assigned to your Ethereum .
- This FID is stored in the ID Registry , a public and unchanging intelligent contract. This ensures that your identity is your property , not that of a centralized platform.
- You can also specify a recovery address , which allows you to transfer your identity in the event of loss of access to your main address.
➤ Key difference : Unlike conventional platforms, where the company owns your account, you have and fully control your digital identity via the blockchain.
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Payment of annual fees for data storage (Storage Registry)
on traditional social networks, your data (posts, messages, interactions) are stored on servers belonging to the company, without direct costs for the user. However, this data is often used for commercial purposes, such as targeted advertising.Farcaster introduces a transparent model where users rent storage space via the registry storage .
- Storage costs are paid in ETH and calculated according to user needs.
- The prices are dynamically adjusted by an Oracle Chainlink to reflect supply and demand.
➤ Key difference : This model empowering users by making them pay only for space actually used, while guaranteeing data confidentiality.
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Adding keys to interact with connected applications (Key Registry)
classic social networks use your identifiers (email or telephone number) as the only means of connection to their platform. This limits flexibility and exposes you to risk of hacking.Farcaster uses a system of cryptographic keys , managed via the Key Registry , to offer increased security and modularity.
- You can add application keys (App Keys), pairs of public and private keys that allow third -party applications (such as Warpcast) to publish messages or interact on your behalf.
- You keep control over these keys, with the possibility of revoking them or renewing them at any time.
➤ Key difference : This decentralized system prevents any application from acting without your explicit authorization, offering transparency and security impossible to reach on traditional platforms.
Off-chain (hubs): peer-to peer storage for more speed
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HUBS: decentralized peer-to-peer knots
in traditional social networks, all data is centralized on the servers of a company. These servers decide not only how your data is stored, but also their accessibility, which creates a unique control point vulnerable to breakdowns or censorships.On Farcaster, the hubs replace these servers centralized by a network of decentralized peer-to-peer nodes .
- These hubs store messages, relationships, interactions and other metadata decentralized.
- They use cryptographic signatures to verify the authenticity of the data and guarantee that only the account owner can publish or modify information associated with his FID.
- The hubs exchange data via a replication protocol (Gossip Protocol), ensuring that each node has a synchronized copy of all data.
➤ Key difference : unlike centralized servers, decentralized hubs guarantee high availability , resistance to censorship and reinforced security .
Why is this architecture revolutionary?
The hybrid model of Farcaster combines the advantages of blockchain (safety, transparency, property) with those of off-chain (performance, speed, low cost).
- For identities : your account does not belong to a business, but alone, thanks to the blockchain.
- For data : your social interactions are not used to generate advertising profits, and their storage is under your direct control.
- For interactions : peer-to-peer hubs allow rapid and resilient exchanges, while eliminating centralized control points.
This hybrid model redefines the bases of social networks, placing the user at the center and offering a radical alternative to the centralized systems of conventional platforms.
Farcaster flagship features
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User identity and names :
- off-chain names (fnames like
@aliceon-chain names (like@Alice.eth) for advanced personalization and full property.
- off-chain names (fnames like
2. Frames: applications integrated into social flow :
- Launch surveys, Mint NFT or participate in games directly from your posts. These features transform social interactions into interactive experiences.
3. Censorship resistance :
- Farcaster assures that no user can be excluded from the network, even if the rest of the network tries to block it.
4. Cost and profitability :
- Using Farcaster requires an annual subscription (around € 6), covering storage costs and reducing spam and bots.
Towards a Socialfi future: the role of the token $ degen
With Farcaster, a new economic model emerges in the world of social networks: Socialfi (Social Finance) , where finance and social interactions intertwine. At the heart of this system, the $ Degen token plays a key role, transforming the way users interact and value online content.
TIPS: Encourage and enhance creators
The $ Degen token allows users to directly reward content creators via a “tips” system (tips). These tips are voluntary transfers of tokens, sent as an appreciation for a post, a digital work or an interaction. For example, a user can send $ degen to an artist who shared an impressive NFT or a member who has published a particularly useful or interesting content.
The purpose of these tips is twofold:
- Encourage creators : users are motivated to produce quality content, knowing that they can receive direct rewards from their community.
- Creating an economic ecosystem between peers : unlike traditional social networks, where interactions mainly benefit the platform (via advertisements), Farcaster allows direct redistribution of value between users.
Airdrops: democratize access to tokens
An Airdrop is to distribute tokens for free to certain users to encourage their adoption or reward their active participation. As part of Farcaster, the Airdrops of $ Degen make it possible to expand the use of this token, in particular by putting it in the hands of active users or the first contributors.
For example :
- Users who regularly participate in the platform (posting, interacting or voting) could receive an Airdrop of $ Degen.
- These tokens can then be used to give tips, access advanced features or interact with applications integrated into frames.
Creation of communities and participation in DAO
Thanks to $ Degen, Farcaster is not limited to traditional social interactions. The token also opens the door to new opportunities :
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Creation of exclusive communities : creators or influencers can establish communities reserved for holders of a number of $ Degen. For example, an artist could create a private space for his most committed fans, offering advantages such as exclusive works or early access to his projects.
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Participation in DAOs (decentralized autonomous organizations) : DAOs allow users to collaborate and make collective decisions on projects or initiatives. The $ Degen can be used to buy voting rights or participate in community decisions, thus creating active and democratic involvement.
Farcaster: Beyond the simple sharing
These initiatives show how social interactions can be transformed into economic interactions . Rather than simply "like" content, users can enhance it economically thanks to tips. Rather than limiting themselves to passive discussions, they can actively collaborate via DAO or join exclusive communities. In this, Farcaster redefines social networks as platforms where each interaction can have real economic and community value . If you want to exhibit your portfolio in Farcaster, the $ Degen is available on Crypto.com Exchange.
A growing model
Farcaster is experiencing rapid growth in the landscape of decentralized social networks. Cointelegraph data , the number of daily active users on Farcaster went from 5,000 on January 28, 2024 to more than 24,700 on February 3, 2024 , an increase of 400 % in just one week thanks to the launch of innovative features such as frames . In addition, according to Binance , Farcaster has taken an important step in February 2024, with more than 100,000 active monthly users for the first time. A progression to be qualified since it has been in decrease since July 2024 according to the data from Dune Analytics .
However, the emergence of this new social network during the year 2023-2024 illustrates the growing interest in decentralized alternatives to traditional social platforms, at a time when the centralization of data and interactions is increasingly disputed.
Conclusion on Farcaster
Farcaster goes beyond a simple social network. He embodies a daring vision of the future of digital interactions, where each user really becomes master of his identity and his data. For cryptocurrencies and defi, Farcaster offers a platform that combines autonomy, security and freedom to explore new possibilities.
Investments in cryptocurrencies are risky. Crypternon could not be held responsible, directly or indirectly, for any damage or loss caused following the use of a property or service put forward in this article. Investments linked to cryptocurrencies are risky by nature, readers must do their own research before undertaking any action and investing only within the limits of their financial capacities. Past performance does not guarantee future results. This article does not constitute an investment .
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Yohan Uzzan
Training engineer, I quickly became interested in the field of finance. Convinced that decentralized finance has a bright future ahead of it, I participate in its democratization by developing Crypternon.
