Variant: Why did we invest in Farcaster?

author:Jesse Walden & Alana Levin

Compiled by: Xiaobai Navigation coderworld

Farcaster Community就像我（Jesse）十年前加入的早期加密Community的缩影：乐观、有技术性、雄心勃勃、协作性强且总是在线。

For the average everyday user, Farcaster is a new but rapidly growing protocol designed to build “Fully decentralized social networkCompared with traditional social media, one of its notable features is the high-quality and low-noise community atmosphere. This is the core team throughOne by oneIt’s the direct result of carefully curated social graphs and years of hard work by early enthusiasts.

For technologists, the promise of Farcaster is a new distribution channel containing the permissionless building blocks to realize the potential of crypto that many of us came here to pursue:Permissionless Identity, Currency, and Data.

• identity:Each identity in the network is associated with a cryptographicwalletEvery post, message, and click on the network is signed and tagged with the associated FID. This is powerful because it means all interactions are authenticated in a self-sovereign way. For users, history can be verified. Developers can also interact directly with users and permissionlessly build a holistic view of their profile, not just on Farcaster, but even on-chain.

• currency:Since each Farcaster account is associated with awallet, the ability to receive and send payments is a native function of the network itself, unlocking capabilities such as rewarding, minting, crowdfunding, creating assets, etc. The result is a significant reduction in transaction friction.

• data:All social data on Farcaster is stored in a distributed network of centers. The goal of the Farcaster protocol is to incentivize decentralized data storage, giving users and developers confidence that they will not be removed from the platform. The impact is twofold: trust attracts high-quality developers to the ecosystem, and persistent openness means that businesses built around the network can create richer experiences than their Web2 counterparts.

一个显著的例子是社区货币，它利用网络的开放社交图谱和连接钱包，让用户能够进行打赏和赚取收入。

Frames are another notable example. These interactive mini-apps exist as posts in social feeds, but can also be displayed in any app embedded in the wallet, enabling developers toMeet the user where their wallet isFrames verify the identity of interacting users, can facilitate payments, and leverage users’ on-chain and social data to unlock additional features. We have already seen various interesting Frames, such asEmbedded Store,Minting Platform,Mini GamesandPayment interface.usEven buildA Frame was created to help the community understand another investment project BottoThe project has relied on Frames as a distribution channel and is distributed over the networkLots of auctions.

To date, approximately 400,000 users have joined the network, primarily through Warpcast— The first client on the protocol to be tested. The development of channels as a Warpcast feature creates a unique, subreddit-like feel, allowing users to find deeper communities in the network.

At the protocol level, significant developments have enabled the network to move from permissioned to permissionless. The network’s core functionality — including Frames, cast actions, and soon, channels,Continue to gradually decentralize, leading to the emergence of an early ecosystem of additional clients.

Our team is very excited to participate in this network as both a user and a builder.0to1, soundscapes, countrymusic,as well as Frames Hackathon The Frames hackathon we hosted at our office was filled with the kind of frenetic energy usually reserved for the most exciting new scenes. We also supported Nook, Kiosk and Farworld Labs, which are helping to scale the user base and client diversity on the network. Supporting early teams goes hand in hand with supporting Farcaster: protocols succeed when third-party businesses can sustainably build on top of them. The more teams working to onboard new users, the better.

This brings us to MerklXiaobai NavigationThe topic of the e team, they are the company behind Warpcast and the core contributors to the Farcaster protocol. Building and maintaining a great product and a complex decentralized protocol at the same time is not easy, but doing it at the same time is oftenThe best way to startDan and Varun have built one of the most efficient and high-quality technical teams in the crypto space, and they areGrowing.

For these reasons, Variant joined other new investors Paradigm, USV, and Haun in Farcaster’s Series A round.cryptocurrencyIn the case of Farcaster, its core team, early developer ecosystem, and user base represent thecryptocurrencyThe best level in terms of competence, attitude and ambition, we are delighted to be part of it and to continue to contribute to the growth of the network.

The article comes from the Internet:Variant: Why did we invest in Farcaster?

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