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Leofinance Launches Public Alpha Of Twitter Alternative Built On The Hive Blockchain

 

By Nerly Shammah Feb 15, 2023

 

 

Since the Twitter take over by Elon Musk, most of the crypto side of Twitter has been speculating on if Twitter would at some point move its content to a distributed ledger and also build in a rewards system backed by crypto, here's where many believed Dogecoin was most likely to be that rewards token given the billionaire's publicly expressed interest in the meme coin, however, Elon Musk had publicly stated that Twitter on a blockchain would be impossible, which in reality might have been a way of saying that it wasn't just best for the platform's business model. 

 

The speculation that Dogecoin would at some point be integrated into Twitter as a possible reward token is however not clear as Twitter has been working on monetization but it is yet to be made public what it truly involves. That said, Leofinance, a Web3 social network and public network for content creation, previously focused on crypto, business, and finance topics has proven Elon Musk wrong by building Twitter on a blockchain network, a delegated proof of stake consensus governed blockchain network, the Hive blockchain. 

 

At the moment, this side of leofinance is simply identified as threads and was initially tested in a raw form directly on the platform's website, however, the fully built to give off the Twitter feeling has currently been released as an alpha version on a subdomain for public testing at alpha.leofinance.io/threads. 

 

With the Alpha release, users with a Hive account can start testing the Twitter alternative based on an immutable ledger. According to the founder, Khal, Leofinance is on its way to building the everything app on the Hive blockchain, as such, it is taking the basic monetization concept of the Hive blockchain which in the past has been solely based on the rewards pool - the basic coin inflation and is redefining this by integration paid subscriptions models and a lot more. 

 

As previously reported by icoverage, Leofinance draws value from numerous sources to feed into the platform, benefitting every user including content creators, content consumers, and stakeholders. One of the ways the investors will benefit from the evolution of leofinance is via the buybacks and payments to stakeholders that will be initiated from ad revenues. At the same time, some other platform's income would be used to buy back and burn.

 

With that being said, leofinance alpha release of "threads" or as they call it "project blank" gives "Crypto Twitter" an environment that is truly censorship resistant given that project blank is built on an immutable database as such, contents published to the network cannot be censored and worst - deleted, unlike other Twitter alternatives. Accounts on threads cannot be deleted nor can a wallet be frozen.