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Even though the crypto industry is still in decline, new projects keep popping up and taking its share of the market. Just recently, a newly listed token CYBER ERC-20 and its main platform CyberConnect, made headlines when the cryptocurrency soared to $18 soon after the coin’s launch. Let’s take a closer look at CyberConnect and find out more about this project.
CyberConnect is Web3’s earliest and largest social network and it is also a decentralized social protocol with identity sovereignty for mass adoption. It enables developers to create social applications, which empowers them to own their digital identity, content, connections, and interactions. Launched in November 2021 as the first social network protocol of its kind, CyberConnect has grown considerably, attracting 327k monthly active users.
In order to shepherd Web3 social into a new, multi-chain era, CyberConnect V3 is a collection of potent enhancements to the CyberConnect social network protocol. V3 has three core components: CyberAccount, an ERC-4337-compatible identity infrastructure; CyberGraph, a censorship-resistant database to record users’ content and social connections; and CyberNetwork, a gas-efficient and scalable network to bring CyberConnect to the world.
V3 enables Web3 social dApps to reach the next level of hyper scalability and provide users with a Web2-like social networking experience. Users could use CYBER on one network to pay for gas on any other network. In addition, the platform offers a so-called CyberID. Much like your username on Instagram or Twitter, CyberID is an ERC-721 token that represents a unique handle for your account in the CyberConnect social network.
More than 50 projects are utilizing CyberConnect’s social network infrastructure to power exciting new user-focused applications. Some notable projects include:
While the platform itself was launched in 2021 as Web3’s earliest decentralized social network, its token launch took place only in 2023. In August 2023, CYBER coin was made available for trading on Binance. In addition to enabling protocol-wide governance and utility, CYBER will also play a crucial role in recognizing and rewarding dedicated supporters of our decentralized social network protocol as well as incentivizing new users to engage with its ecosystem dApps.
CYBER token represents an important component of the platform and can be used for the following:
In Web2, social graphs represent the connections between users, their content, and their interests. They are a key data set social network platforms use to capture attention and increase user engagement. CyberConnect came up with CyberGraph, a set of smart contracts that links user identities (CyberAcconts) to their content and social connections and enables the recording of that rich social data onto multiple EVM-compatible blockchains. In essence, it is a censorship-resistant smart contract with built-in monetization features. Users' high-unit value social data can be stored on blockchain databases using CyberGraph's distinctive, adaptable middleware design, which opens up various cutting-edge social networking and community-building primitives, including tokenization for monetization.
Through CyberGraph’s unique, customizable middleware design, storing users’ high-unit value social data on blockchain databases unlocks several novel social networking and community-building primitives, including monetization through tokenization.
CyberConnect platform has been on the market for some time now, and even though CyberConnect is a well-known platform, crypto users witnessed an increased interest in it: a well-known provider of crypto market intelligence products, has analyzed its popularity and found out that over 93,000 CyberAccounts were registered within a few days.
It is possible that due to the latest developments that the project is working on, CYBER token will continue rising in price: some sources, like DigitalCoinPrice, believe that by 2030, CYBER coin can skyrocket to $52.14, while Telegaon promises the cryptocurrency might do even better: $104.25-126.19 by 2030. However, it’s only with mass adoption, a bullish market, and increased popularity that the project may be able to become a solid investment: after all, the world of cryptocurrencies is highly volatile.
StealthEX is here to help you buy CYBER coins. You can do this privately and without signing up for the service. Our crypto collection has more than 1400 different coins and you can do wallet-to-wallet transfers instantly and problem-free.
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Don’t forget to do your own research before buying any crypto. The views and opinions expressed in this article are solely those of the author.