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NewsDecentralized Social Network Farcaster Protocol saw 400% Surge in Active Users

Decentralized Social Network Farcaster Protocol saw 400% Surge in Active Users

Feb 05,2024,08:03

Reported by Cointelegraph, daily active users on the Farcaster protocol — a decentralized network for social media applications — have spiked a staggering 400% over the last week following the introduction of Frames on its social media application Warpcast.

Daily active users on the Farcaster network grew from approximately 5,000 on Jan. 28 to over 24,700 by Feb. 3, according to Dune Analytics data. Frames were added to Warpcast on Jan. 27.

The influx of new user activity has been linked to a spike in interest for Frames — a new innovation that allows users to engage with external links and applications without leaving the Warpcast app.

The volume of new daily “casts” has surged to reach more than two million as of Feb. 3, a staggering 1,000% increase from roughly 200,000 the week before on Jan. 28.

Frames allow users to mint nonfungible tokens (NFTs), make transactions, claim tokens, read external blog posts and answer surveys without having to sign a transaction or leave the app itself.

Founded by ex-Coinbase engineer Dan Romero and Varun Srinivasan in 2020, Farcaster describes itself as a “sufficiently decentralized” social network. While many often confuse the two terms, Warpcast is a social media application — or client — built on top of the Farcaster network.

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