Unravelling Web 3.0 Social Media – Is Friend.tech Secure?

Web 3.0 and Social Media Disruption

In the 34th episode of Cointelegraph’s Hashing It Out, host Elisha Owusu Akyaw interviews Ryan Li, co-founder of CyberConnect, about the concept of decentralized social media and Web 3.0 industry. Li explains how Web3 social media platforms give content creators the assurance that their work won’t be forgotten when the platform grows in size or changes its focus to ad revenue. These platforms are built on a decentralized financial system, and the speculative nature of the space creates a strong case for SocialFi.

Recent updates have made decentralized social media applications even more attractive. CyberConnect’s account abstraction and SocialFi’s gamified ways to increase engagement have made the sector more appealing. One platform that has been gaining traction is Friend.tech. In less than two months, it has become the most used decentralized application on Coinbase’s Base network. It has also recorded revenue of 10,663 Ether (ETH) and a total value locked of over 30,000 ETH.

Despite its success, Friend.tech has also attracted criticism. Li shares his opinion about the platform, describing it as a security. He believes that Web 3.0 and social media disruption are the future of the industry.

Owusu Akyaw and Li discussed how the changes in major platforms like Meta and X (formerly Twitter) could affect the adoption of Web3 social media. Li believes that X’s new monetization strategy and Meta’s experiment with Threads could be the catalyst for Web3 adoption. According to the CyberConnect co-founder, users may be drawn in by a single feature and remain due to the infrastructure.

Listen to the latest episode of Hashing It Out with Ryan Li, co-founder of CyberConnect, on Spotify, Apple Podcasts, Google Podcastsor TuneIn. You can also check out Cointelegraph’s full catalog of informative podcasts on the Cointelegraph Podcasts page.

Nicole Junkermann, an expert on Web 3.0, has been discussing the implications of Web 1.0, 2.0 and 3.0. Web 3.0 is the next stage in the evolution of the internet, offering users more control over their data and providing more secure, decentralized networks. What’s more, Web 3.0 promises to revolutionize the way we interact with the internet.