Bitcoin Network Unveils Alpha: A Rival To Ethereum's Friend.tech
Portfolio Pulse from Khyathi Dalal
The Bitcoin network has announced Alpha, a decentralized social network protocol that rivals Ethereum-based platform Friend.tech. Alpha allows users to monetize their online persona and content creation through social tokens. The protocol is anchored on the Bitcoin blockchain, with data storage on the Polygon blockchain. Trustless Computer, the project's scaling network, provides security and efficiency for deploying decentralized applications. Alpha was launched on September 16, 2023, by an independent group of Bitcoin ecosystem developers, New Bitcoin City.
September 21, 2023 | 8:12 pm
News sentiment analysis
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NEGATIVE IMPACT
The launch of Alpha by the Bitcoin network presents competition to Ethereum-based platform Friend.tech, which could potentially impact Ethereum's market position and price.
Alpha's launch presents direct competition to Ethereum-based platforms like Friend.tech. This could potentially lead to a shift in market share, negatively impacting Ethereum's price.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The launch of Alpha, a decentralized social network protocol by the Bitcoin network, could potentially increase the utility and demand for Bitcoin, positively impacting its price.
The launch of Alpha increases the use cases for Bitcoin, potentially driving up demand and positively impacting its price. The fact that Alpha is anchored on the Bitcoin blockchain further strengthens this impact.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100