Farcaster is a decentralized protocol for building social apps. It's different from traditional platforms because it gives users complete control over their data and lets developers make apps freely.
Farcaster
Infrastructure
Description
Here's how it works:
- Decentralization: It keeps communication open between users and allows developers to use public data without limits.
- Open-Source and Community-Driven: The protocol is developed and maintained by a community, ensuring transparency and collaboration.
- Based on Ethereum and Optimism Mainnet: The technology behind Farcaster is rooted in these blockchain networks.
- Unique Features: Offers things like flexible usernames, efficient data storage, and ways to prevent spam.
- Structure: The protocol has components like user accounts, usernames, messages, and storage, each playing a specific role.
- Hybrid System: Combines on-chain (for things like account identities) and off-chain (for actions needing high performance) systems.
- User-Friendly Usernames: Integrates with Ethereum Name Service for easy mentions in messages.
- Public Messages: Users can post updates, which are stored on Farcaster Hubs for security and authenticity.
In summary, Farcaster is designed for those who want a more secure, user-controlled social media experience, offering a blend of blockchain-based security with practical, user-friendly features.
Team of the Project
Varun Srinivasan
Co-founder
Varun Srinivasan, with a background from Carnegie Mellon University, co-founded SoundFocus, served as a PM for OneNote at Microsoft for nearly 3 years, built product and engineering teams at Coinbase for over 4 years in various roles including Director of Platform, and is currently a Co-Founder at Farcaster.
Dan Romero
Co-founder
Dan Romero, co-founded Farcaster after serving as Vice President at Coinbase for 5 years and is an alumnus of Duke University.
Funding
$150,000,000
$150,000,000
Series A
Led by Paradigm. Other investors included Andreessen Horowitz (a16z), Variant, Union Square, Ventures, Union Square Ventures, Standard Crypto, Haun Ventures.
$30,000,000
$30,000,000
Seed Round
Led by a16z. Other investors include: Standard Crypto, 1confirmation, a_capital, Ribbit Capital, Sclard Capital, Multicoin Capital, Coinbase Ventures, GIL, First Round Capital, Volt Capital, Mischief, Ansa, Haystack, Chapter One, Offline, Archtype, Floodgate, 6529 Capital, Canonical Crypto, Balaji Srinivasan.