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The Bitcoin (CRYPTO: BTC) network announced its own community-based social token ecosystem, Alpha. The decentralized social network protocol, Alpha, is like the Ethereum (CRYPTO: ETH)-based platform Friend.tech.
Alpha will enable users to monetize their online persona and content creation via its social tokens. Interested users can buy other accounts’ tokens to interact with them or gain exclusive access from the seller, Cointelegraph reports.
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Alpha is anchored on the Bitcoin blockchain, while the Polygon blockchain is used for data storage. Trustless Computer is the project’s own scaling network for Bitcoin and it uses Optimistic Roll-up technology which will provide security and efficiency for deploying decentralized applications, according to Cointelegraph.
Trustless Computer is a low-cost layer 2 infrastructure that can enable applications such as decentralized exchange (DEX), DAOs or NFT marketplace on Bitcoin.
Also Read: Friend.tech’s Popularity Skyrockets As Platform Rakes In Millions In Fees
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The announcement on X (formely known as Twitter) was made by an independent group of Bitcoin ecosystem developers, New Bitcoin City.
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Alpha α is officially here
More than the @friendtech of Bitcoin, Alpha is set out to be one of the leading SocialFi dApps
Built on Bitcoin
Fully decentralized & permissionless
Optimized UX for Key trading & alpha calls sharingGet Alpha Now: https://t.co/V7GX7UReQ4 pic.twitter.com/q6j4IrGic7
— New Bitcoin City (@NewBitcoinCity) September 16, 2023
Launched on Sep.16, 2023, Alpha has managed to create a significant user base and a large number of followers on X.
The founder of Alpha, pseudo-named Punk3700, who is also a member of the New Bitcoin City told Cointelegraph about a new referral program being built enabling users to earn 1% of their friends’ trading volume, encouraging users to invite friends to the platform and inspiring content creators to create more valuable content.
Alpha works by users purchasing tokens connected to content creators, which are then used to access exclusive content.
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Now Read: Ripple CEO Says Legal Expenses Surge To $200M, Blames SEC For Bullying
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“The Best Report Benzinga Has Ever Produced”
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