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DeFi Project Aave To Release Ethereum-Based Twitter Alternative By The End Of 2021 | CryptoGazette - Cryptocurrency News


cryptogazette.com 20 July 2021 06:15, UTC
Reading time: ~2 m

Ethereum had a great 2021 and the successes continue to pour. It’s been just revealed that the DeFi giant ZAave will be launching an alternative to Twitter that will use Ethereum by the end of this year.

Monetizing content and governing network rules

It’s been reported that Stani Kulechov, founder and CEO of DeFi lending protocol Aave, said that users will be able to monetize the content they post and govern the rules of the network.

“We believe that content creators should own their audiences in a permissionless fashion, where anyone can build new user experiences by using the same on-chain social graph and data,” he said.

The same online publication mentioned above notes that social media is entirely different from Aave’s main product, which allows users lend or borrow crypto via smart contracts—automatic computer code.

It’s been also reported by the DeFi Pulse data that Aave is the largest DeFi protocol in terms of the amount of money running through its system – which currently stands at $10.92 billion.

Since @jack is going to build Aave on Bitcoin, Aave should build Twitter on Ethereum

— stani.eth rAAVE 👻 =(⬤_⬤)= 👻 🦇🔊 (@StaniKulechov) July 17, 2021

“Blockchain and Bitcoin point to a future, point to a world where content exists forever—where it’s permanent, where it doesn’t go away, where it exists forever on every single node that’s connected to it. What that means is the job of content hosting goes away,” said Dorsey not too long ago.

Anyway, check out Decrypt’s complete article in order to learn more details.

Ethereum in the news

It’s been just revealed that there’s a chance that Ethereum could reach a larger market cap than Bitcoin.

Crypto trader and host of Coin Bureau addressed some of the reasons for which he thinks Ethereum (ETH) has a chance to reach a larger market cap than Bitcoin (BTC).

Stay tuned for more news.

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