BitClout 2.0 announced as the next stock market for people

An announcement was made today on the decentralized social app Diamond that Bitclout 2.0, the long-awaited follow-up to 2021’s viral sensation that took the crypto world by storm, has been revealed by Diamondhands.

Bitclout 2.0 aims to build on the success of the original by introducing several new products and features, effectively making reputation an asset class on par with what NFTs are today.

BitClout 2.0 is expected to launch with a sophisticated airdrop after DeSo blockchain’s transition to its new Revolution proof-of-stake consensus mechanism is complete. The White Paper for BitClout 2.0 can be accessed online now and the password can be obtained by sending a DM to BitClout on any DeSo app such as Diamond or DeSo Chat Protocol.

Bootstrapping a stock market for people

One of the most groundbreaking new products BitClout 2.0 introduces is Creator Coins V2, a redesigned version of the original trading product that got thousands of celebrities and influencers to join the platform.

Creator Coins are a new type of asset class introduced by BitClout 1.0 that is tied to the reputation of a person rather than a company or commodity, and Creator Coins allow creators, celebrities, influencers and ordinary users to monetize their work in ways never before before has been. possible in Web2.

Since Creator Coins track the reputation of a person, if Elon Musk lands the first person on Mars or goes bankrupt, it will affect the price of Creator Coin.

Creator Coins V2 is fully backwards compatible with V1, allowing users to transfer seamlessly, and will be tradable on DeSo DEX, the world’s fastest on-chain order book exchange (featured by Openfund).

Trading activity on BitClout 2.0 will be stimulated with a new BITCLOUT token, which allows people to accrue fees through Creator Coin V2 trading activity.

Bitclout 2.0 will reward early adopters through a sophisticated and viral airdrop scheme that draws inspiration from both BitClout 1.0 and from the NFT marketplace Blur. BitClout 2.0’s airdrop mechanics will not only drive trading liquidity, but also “content liquidity” by compensating the most active creators on the platform.

Creators who publish regularly and engage the community will also earn BITCLOUT tokens through airdrops, adding an innovative new incentive structure for creators never seen on other platforms.

People interested in participating in the BITCLOUT airdrop can start getting familiar with DeSo apps like Diamond, Openfund, Desofy or DeSocialWorld, and many more listed on DeSo before launch.

BitClout 2.0 will be built on the decentralized social blockchain. According to the BitClout 2.0 white paper, “DeSo is the only blockchain that can support the storage and indexing requirements needed for a decentralized social platform like BitClout 2.0.” This is thanks to DeSo’s vastly superior content storage costs, finally enabling apps to extend beyond DeFi to storage-intensive social applications, and much more.

The story of BitClout

In March 2021, a mysterious password-protected link started going viral. The link allowed users to access a new app called BitClout, created by the pseudonymous founder known as “Diamondhands.” What started as just a white paper and accompanying demo quickly developed into an addictive worldwide phenomenon thanks to BitClout’s introduction of a new concept known as Creator Coins.

BitClout and the concept of Creator Coins were initially so viral and engaging that the early prototype alone attracted organic signups from hundreds of influencers and celebrities.

It also spawned a number of articles about the burgeoning “human stock market,” including a long-form piece in the New Yorker.

The next big decentralized social application

With the launch of Bitclout 2.0, the true power and capabilities of the DeSo Blockchain will be on full display for the world to see.

Already one of the fastest and cheapest layer-1 blockchains on the market, DeSo’s move to proof-of-stake is likely to cement DeSo’s status as an industry leader for developers looking to build storage-intensive infinite-state applications.

Once completed, DeSo will move closer to its final form, “The Sovereign Internet,” with a decentralized web, enabling developers to deploy censorship-resistant, storage-intensive applications at scale from anywhere in the world.

Bitclout 2.0 will likely be the first example of what can be built on DeSo post-proof-of-stake, but it won’t be the last.

Currently, other proposals are circulating, including Bitfair, the first crypto-native sports betting app, and Pseudo, the first decentralized identity marketplace.

Learn more about the DeSo roadmap and what’s next here.

About Deso

DeSo is a new layer-1 blockchain built from the ground up to decentralize social media and scale storage-heavy applications to billions of users. It raised $200 million and is backed by Sequoia, Andreessen Horowitz, Coinbase Ventures, Social Capital, Polychain Capital, Winklevoss Capital, Pantera and other blue chip funds.

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