Alpha: Innovative Bitcoin-Based Social Token Ecosystem Launches, Rivaling Friend.tech
Summary:
Alpha, a new social token ecosystem, has launched within the Bitcoin network, providing users with a way to monetize their online content. Unlike similar platform Friend.tech, Alpha uses the Bitcoin blockchain for confirmation processes, Polygon blockchain for data storage, and its own network, Trustless Computer, for scaling. Co-founder Punk3700 described Alpha as community-driven and cited a new referral program that allows users to earn from their friends' trading volume. The launch of Alpha came as Friend.tech announced repercussions for users who use forks or copycat versions of its platform.
Bitcoin's network has been infused with a novel social token ecosystem, Alpha, springing up abruptly as an autonomous community-centered project. In similarity to the Ethereum-associated platform, Friend.tech, known for its decentralized social network structure, Alpha offers its users an avenue to generate income from their digital identities and content creation through its unique social tokens. But what differentiates Alpha from Friend.tech is its underlying structure. Its final confirmation process is based on the Bitcoin blockchain, whereas the Polygon blockchain serves its data storage needs. Meanwhile, Trustless Computer, its proprietary Bitcoin scaling network, ensures fluid operations within the project's ecosystem.
The man behind the venture, an anonymized co-founder known as Punk3700, provides a succinct explanation of Alpha's structure saying it is "a rollup rolling up to another rollup that eventually rolls up to Bitcoin." In a conversation with Cointelegraph, Punk3700 elucidates the enduring architectural design of Alpha that incorporates a NOS-TC layer. "Trustless Computer (TC) is an optimistic rollup layer hinged directly on the Bitcoin blockchain while NOS serves as another optimistic layer product, designed to supplement Bitcoin's scalability."
Generally referred to as zero-knowledge rollups (zkRollups), the optimistic rollup layers work in partnership to create a secure and efficient environment for the functionality of decentralized applications. Remarking on the design, Punk3700 emphasizes that NOS was established in a hybrid design that hinges data validity on Bitcoin and uses Polygon for data storage, eventually reaching a settlement on Bitcoin.
He further explained that this structure caters for data storage flexibility considering the exorbitant costs associated with presence on Bitcoin. “Lower transaction fees are a benefit for users derived from the architecture of Alpha.”
Evidently, the needs of users and the comprehensive community are paramount in the Alpha platform, and were a key factor in its swift development and launch within 48 hours. In Punk3700's words, "Alpha has a strong community-driven development approach.” Currently, the initiative to develop a new referral program that will allow users to earn a 1% dividend from their invitees' trading volume is underway.
Alpha operates on a system where users buy tokens associated with the content creators for access to their exclusive content. Since its inception, Alpha has consistently attracted a growing user base. However, Friend.tech has taken disciplinary measures against users accessing replicated versions of its platform, stating that these users will be withdrawn from earning and lose their accrued points. This action follows shortly after a decrease in key performance indicators such as user activities, cash inflow, and volume, leaving critics referring to the platform as 'dead'. Despite allegations of a data breach compromising 100k users' personal data, Friend.tech maintains a contrary stance, debunking such rumors.
Published At
9/21/2023 10:09:40 AM
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