Alpha: A New Social Token Network on the Bitcoin Blockchain

Discover Alpha, a new decentralized social token network built on top of the Bitcoin blockchain. Learn how users can monetize their content creation and online persona through Alpha's social tokens.

Posted 8 months ago in Blockchain

Alpha logo on a Bitcoin background

A new social token network called Alpha has emerged, rivaling the popular platform but built on top of the Bitcoin blockchain.

The Bitcoin network got its own community-based social token ecosystem after a new project called Alpha emerged overnight. As a decentralized social network protocol, Alpha is similar to the widely-known Ethereum-based platform It allows users to monetize their online persona and content creation via its social tokens.

However, unlike, Alpha has a different makeup. The finality is anchored on the Bitcoin blockchain, while the Polygon blockchain is used for data storage, with Trustless Computer being the project’s own scaling network for Bitcoin. One of the co-founders of the project is a pseudonymous user dubbed Punk3700, who is quoted describing the makeup of Alpha as “a rollup that rolls up to another rollup that rolls up to Bitcoin.”

Cointelegraph spoke with Punk3700 to better understand the developments behind the launch of the new Bitcoin-based social token network. He said the optimistic rollup layers “work in tandem” to provide security and efficiency for the environment to deploy decentralized applications. According to Punk3700, users and the community are the main drive for the creators of the Alpha platform, who developed and launched it in only 48 hours.

While Alpha is quickly amassing new users since its launch, recently posted on X (formerly Twitter) about its decision to punish users who use forks of copycat versions of its platform. That came shortly after critics announced the platform as “dead” after a slump in key metrics, including user activity, inflows, and volume. It also struggled with rumors of a data leak — refuted by — of over 100,000 of its user’s personal data being breached.

Last updated 9/21/2023, 5:13:43 AM


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