Wednesday, September 18, 2019

10 Social Networks Built On Top of Blockchains

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Good afternoon!

Today I bring you a special issue of Inside Bitcoin featuring 10 social media sites built on top of blockchains. Have you tried any of these? What are your impressions? Let me know at allen.taylor@inside.com.

Some readers have been suggesting additions to our top Bitcoiners list on Twitter. I really appreciate it. We'll continue updating that list again next week. Meanwhile, enjoy it as it is and feel free to keep your suggestions coming.

-- Allen, guest editor

     

Market Watch: The market is leaping today. XRP is the big winner among the top five. Other popular coins made a big bounce, as well, including Stellar, Bytcoin, Electroneum, IOT, Ravencoin, 0x, and Dogecoin, all among the top 10 biggest gainers. RIF Token is the biggest loser for the second day in a row.

  • Bitcoin: $10,220 (⬇️ 0.36%) // $183.3 billion market cap.
  • Ethereum: $214.20 (⬆️ 3.61%) // $23.0 billion market cap.
  • XRP: $0.31 (⬆️ 9.01%) // $13.5 billion market cap.
  • Bitcoin Cash: $328.11 (⬆️ 1.67%) // $5.90 billion market cap.
  • Top 100 Winner: ABBC Coin: $0.15 (⬆️ 38.18%) // $86.2 million market cap.
  • Top 100 Loser: RIF Token: $0.12 (⬇️ 6.76%) // $61.4 million market cap.

Prices are as of 1:05 p.m. EDT.

     

1. Steemit is the largest blockchain-based social platform to launch, exiting the gate in 2016 by Steemit Inc., a company founded by Ned Scott and Dan Larimer. Larimer has since gone on to other projects, but Scott is still CEO of the company he co-founded. Steemit is a social blogging platform launched to demonstrate the power and capabilities of the Steem blockchain. Until recently, the platform has been under much scrutiny for the use of bidbots to game its complex rewards system. In late August, however, Steemit introduced Hard Fork 21, which changed the payout scheme to give equal weight to new content creation and content curation. That was supposed to discourage bidbot usage, but a bug in the code required a subsequent update. Users earn STEEM for creating and curating content on the platform and also have the ability to split rewards into SBD, Steem's version of the stablecoin. Influence is increased by converting STEEM into Steem Power. -- STEEMIT

Steemit was the first social media platform to launch, in 2016
     

2. Minds calls itself the "leading open source social network for Internet freedom." Minds was co-founded in 2011 by Bill and John Ottman and migrated to the Ethereum blockchain in 2018. Bill is the CEO. The site opened its alpha version in 2015 with the support of Anonymous. In 2018, Minds raised $6 million in a Series A funding round backed by Overstock's venture capital firm Medici Ventures. Minds has some interesting features, such as Minds Plus, which allows users to upgrade to a premium service and receive exclusive content, and Wire, a P2P payment and crowdfunding feature. Minds has been criticized, however, for attracting neo-Nazi and other fringe groups. Minds is primarily a mobile app. -- MINDS

Minds is a crypto social network that believes in freedom, but has some problems
     
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3. Trybe launched earlier this year on the EOS blockchain. Trybe has one of the easiest user interfaces for creating articles, however, directly out of launch they were only interested in articles on cryptocurrencies. They are slowly expanding their content offerings to other topics. Users earn Trybe tokens for content creation and interacting with other users on the platform. Unlike most decentralized social platforms, Trybe explicitly warns users not to spam or plagiarize or their accounts will be suspended. In order to transfer Trybe tokens off the platform, users will need an EOS account. Trybe also incorporates monthly airdrops and token staking into its platform to encourage users to spend more time on the platform creating content and earning rewards. -- TRYBE

     

4. Sapien is a social news platform designed to compensate users for helping fight fake news. With some unique features, Sapien uses a democratic process to create communities, giving users a say in the governance of those communities. It also allows users to be anonymous. Built on the Ethereum blockchain, they compensate users with the SPN Token. Sapien has a developer platform, which it plans to open to third-party applications in Q3 2019. Sapien also gives users control over their own data and allows them to earn SPN when they share that data with advertisers. Of course, users can also earn SPN by creating content, and they can spend it by purchasing physical and virtual products on the Sapien marketplace. -- SAPIEN

Sapien is a social news platform that fights fake news
     
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5. Kin is a cryptocurrency created by the messenger app Kik. The essence of Kin is to give app developers a way to earn cryptocurrency for their creations and consumers to interact with developers through microtransactions. Developers use the Kin SDK to become a part of the Kin ecosystem and earn rewards for their applications allowing app users to spend Kin within the apps. Kin launched its blockchain last year and already has over 50 applications developed for iOS and Android. App categories include gaming, health and fitness, communication and social, news and entertainment, travel, education, lifestyle and finance, and more. Its stats page boasts 10.6 million unique earners and 2.2 million unique spenders. -- KIN

Kin is a cryptocurrency that allows app developers to earn from mainstream consumers
     

6. Narrative launched into beta on April 2 this year with a unique social structure based on the NEO blockchain. One of Narrative's unique features is the ability for users to "buy" niches, which are defined as topical subject areas for posting content. Niche owners then earn a portion of rewards earned from content posted in their niches. The native token is NRVE, the value of which has been in steady decline since June. Several planned key features of the platform, such as niche moderators and tribunal elections (the governing body of the platform) have yet to be rolled out, but the publications feature is expected by the end of September. Narrative is fighting plagiarism and low-quality content issues. -- NARRATIVE

Narrative offers a unique social structure on the NEO blockchain
     

7. Mastodon is a decentralized alternative to Twitter with a 500-character limit for posts. This social networking site is notable in one other way: There's no monetization strategy or cryptocurrency associated with the project. Instead, founders opted to fund its development through Patreon donations. It's an open-source project that launched in 2016. -- MASTODON

     

8. Indorse is a blockchain version of LinkedIn. Users validate each other's skills and can prove their developer chops with skills reports and assessments by industry experts. Indorse also hosts hackathons, which allow developers a way to prove their skills in action. Companies can partner with Indorse to sponsor a hackathon without hosting one. Developers can also upskill using skills test and content modules. Companies can try new developers out before hiring them by providing them with tailor-made coding assignments. Indorse's Ethereum token is called IND. -- INDORSE

Indorse uses the blockchain to validate coding skills for developer and companies
     

9. The PROPS Project is the blockchain's answer to YouTube. Endorsed by YouTube sensation Phil Defranco, the open-source project has also managed to secure the backing of Union Square Ventures, Venrock, and Comcast Ventures among other notable venture capital firms. In July, the Securities and Exchange Commission approved Props, the first RegA+ token, which is being billed as a cross-app reward system. The Props token allows users to mine crypto through apps like YouNow when users create broadcasts, watch videos, and tip other creators. Another notable achievement for Props is that Coinbase Custody listed it not long after the SEC's approval giving institutional investors access to one of social media's strongest blockchain contenders. -- PROPS PROJECT

PROPS Project has the first SEC-approved RegA+ crypto token for video streaming
     

10. Voice is the most anticipated blockchain-based social media site since Steemit launched in 2016. What the two have in common is Dan Larimer, now the founder and chief technical officer at Block.one, which runs the EOS blockchain. Voice has not yet launched, but it's been called both a "Steemit killer" and a "Facebook killer." One of the most anticipated features of Voice is its planned authentication system designed to prevent bots and other bad actors. Users will be able to earn Voice, the native token, and spend them on the blockchain to drive their own opinions to the top of the heap. Voice is so anticipated it has its own news podcast show. Users can sign up for beta access on the Voice website. -- VOICE

Which of these platforms have you tried? Hit reply and let me know.

Voice is an EOS-based social media website that is pre-launch
     

Inside Bitcoin is written and curated by award-winning journalist and former newspaper editor Allen Taylor. Recognized by the Dallas Bar Association three times for excellence in legal reporting, Allen has since gone on to author, edit, or ghostwrite several white papers, books and e-books, and over 10,000 blog posts for clients ranging from small business owners to global management companies and corporate executives. Learn more about him on LinkedIn.

Editor: David Stegon (senior editor at Inside, whose reporting experience includes cryptocurrency and technology).

     
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TONIGHT: Biggest Crypto Prediction of Teeka’s Career

Editor's Note: HEADS UP: In a matter of hours, Teeka Tiwari is going to make the biggest crypto prediction of his career. And if you RSVP now, you have a free front row seat. Read below now…
This Evening Teeka Tiwari Is Going LIVE
For His First Crypto Training Of 2019…

"5 COINS TO $5 MILLION"


Dear Reader,

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They could turn $500 into as much as $5 million, all over the next 300 days.

It has to do with a rare phenomenon about to strike the crypto market, which is 100% guaranteed to happen every four years.

The last time it hit was in 2016. In the following weeks, the gains were enormous.
  • 283,150% 
     
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Each of these plays could've turned $500 into a million-dollar fortune…

And Teeka says right now, you have a rare second chance.

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Regards,

Chaka Ferguson
Managing Editor, Palm Beach Research Group
 
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CryptoWeekly #112

CRYPTO WEEKLY
September 18, 2019 | #112
After taking the summer off, the CryptoWeekly newsletter is back!

Hit reply to let me know what you've been working on, new features you've shipped, good guides you've read or what projects you are currently excited about.

Chris

-

Here's what's been happening in crypto this week:

Binance.US opens registration today, excluding 13 states (Alabama, Alaska, Connecticut, Florida, Georgia, Hawaii, Idaho, Louisiana, New York, North Carolina, Texas, Vermont and Washington). And according to the announcement, there will be no trading fees until 1st of November. Link

Messaging app LINE's Crypto Exchange goes live for 80 Million users. The new exchange, dubbed Bitmax, went live today in Japan (days after the platform received final regulatory approval) with trading of five crypto assets: bitcoin (BTC), ethereum (ETH), ripple (XRP), bitcoin cash (BCH) and litecoin (LTC). Link

Wells Fargo to pilot dollar-linked stablecoin. Dubbed Wells Fargo Digital Cash, the U.S. dollar-linked stablecoin will enable to settle internal cross-border payments across its global network. Its international locations will also be able to move funds between each other using the token. Link

Deutsche Bank joins JPMorgan-led blockchain network. The JPMorgan Chase-led Interbank Information Network (IIN) will this week announce Deutsche as a new recruit to a network of 320 banks which have agreed to swap information on global payments over blockchain, the mutually distributed ledger technology behind cryptocurrencies. Link

European space agency backs blockchain satellite project. Blockchain startup SpaceChain has won a 60,000 euro grant from the European Space Agency (ESA) to investigate use-cases for their satellite-based blockchain wallet system. The company has already flight-tested blockchain nodes in space. Link

SegWit transactions now make up over 50% of Bitcoin payments. SegWit, the opt-in transaction type that was first introduced in August 2017 (after a soft-fork network update) allows the Bitcoin blockchain to process transactions that are less data-intensive than the classical transaction format - resulting in cheaper and faster transactions. Link

Venezuela's largest bank opens up petro cryptocurrency wallet registrations. Following an order issued by President Nicolas Maduro in early July for Bank of Venezuela to open up a cryptocurrency desk specifically for the state-backed petro, the country's biggest bank now appears to be doing just that.

You can now prove a whole blockchain with one math problem. The Electric Coin Company (ECC) says it discovered a new way to scale blockchains with "recursive proof composition," a proof to verify the entirety of a blockchain in one function. Link
COMMUNITY NEWS
Blockchain-based employment platform Opolis has announced that it received a developer grant from MakerDAO. Link

The U.S. Commodity Futures Trading Commission (CFTC) has just named Coinbase vice president Dorothy DeWitt will head its division overseeing Bitcoin futures. Link

We added hundreds of new crypto companies, investors, exchanges, journalists to CryptoList over the summer. Link

Hedera Hashgraph, touted as high-speed blockchain alternative, goes live. Link

Bitcoin mining power hits new high as half a million new ASICs go online. Link

Here's a handy list of crypto YouTube channels worth checking out. Link

Sparkswap adds USD support to its Bitcoin Lightning Network exchange. Link

Harbor has created tokens on the Ethereum blockchain representing the shares of four real estate funds worth $100 million. Link

David Marcus, co-creator of Libra, says the stablecoin won't threaten monetary sovereignty of nations. Link

HTC's Blockchain phone now supports Bitcoin Cash. Link

Square Crypto is giving the first of what will be many grants to support open-source Bitcoin projects to BTCPay Foundation. Link

In less than 32 days, the 18 millionth Bitcoin will be mined... leaving just 3 million (14.3%) left. Link
UPCOMING EVENTS

Transylvania Crypto Conference • Oct 10-13 • Transylvania, Romania (use promo code #EARLY_BIRD_TCCONF19 to access 20% off)

Crypto Expo Singapore • Oct 26 • Singapore (use promo code CRW to access $15 off VIP tickets)
Edited by KintuLabs. Reply to this email with any feedback and/or suggestions. Nothing shared or published by CryptoWeekly constitutes an investment recommendation, nor should any data or content published by CryptoWeekly be relied upon for any investment activities. CryptoWeekly strongly recommends that you perform your own independent research and/or speak with a qualified investment professional before making any financial decisions. Copyright © 2019 CryptoWeekly. All rights reserved. Unsubscribe here.