- Good friend.tech, a social media platform, is constructing its personal blockchain known as Friendchain.
- Friendchain will use the platform’s native token, FRIEND.
- The transfer is controversial, with consultants questioning its necessity and potential drawbacks.
The decentralized social media platform Good friend.tech, constructed initially on Coinbase’s layer-2 community Base, has introduced its plan to create a proprietary blockchain named Friendchain. Good friend.tech disclosed the brand new transfer through its official X account yesterday, June 8.
In line with the notification, Good friend.tech is constructing the proposed blockchain with crypto infrastructure startup Conduit. Additionally, the platform plans to make the most of its native token, FRIEND, on the brand new blockchain.
Nonetheless, this announcement has garnered vital criticism from business pundits who query the need of a blockchain devoted to social media capabilities. “What’s the worth proposition of a social-focused chain?” requested Dr. Jojipup of buying and selling platform AstraBit.
Amogh Gupta of the Sui Basis expressed issues concerning the transfer from the Base blockchain to a much less battle-tested and extra centralized infrastructure. In registering his disapproval, he recalled that Conduit was the RaaS supplier for the Degen chain that beforehand went down for over 24 hours.
Siong, the co-founder of Jupiter Alternate, questioned the effectiveness of the narrative surrounding the launch of a brand new blockchain in an period the place creating one’s personal Layer 2 is so simple as a single click on.
Including to the essential voices, Mothu et Doria, an Architect at Kinode OS, sarcastically highlighted the potential for elevated utility and scalability {that a} new blockchain may deliver to Good friend.tech’s platform amid current points with the app’s efficiency and options.
In addition to, commenters additionally raised issues concerning the potential for elevated gasoline charges on Friendchain, as Base is understood for being a low-cost Ethereum layer-2 resolution.
Regardless of the blended reactions, the market reacted swiftly to the information. Good friend’s worth skilled a dramatic surge, hovering 64% to $1.31 post-announcement, solely to settle again to $0.89 throughout the hour.
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