Web3 social platform secures $2 million funding, launches encryption communication beta version

A new platform focused on Web3 instant messaging and social networking recently announced that it will launch an invitation-only beta version on December 2, 2023. The platform utilizes advanced end-to-end encryption technology to enable direct communication between wallets, providing users with a secure and decentralized experience.

The company recently completed an early financing round of 2 million dollars, supported by several well-known investment institutions. This round of financing will be used to enhance user experience and improve platform functionalities.

The company's CEO stated: "The launch of the beta version is an important step for us to provide a secure, reliable, community-owned communication platform for the Web3 community. We are not just launching a product; we are ushering in a new era of participation in Web3 and even setting standards for Web2 chat platforms. During the testing phase, we will focus on collecting user feedback to continuously improve the platform to meet user needs and our future vision."

In recent years, traditional Web2 platforms have faced numerous challenges. The centralized control and ad-driven model often harm user privacy, and the lack of robust authentication systems leads to rampant impersonation, undermining trust among users. These platforms are also susceptible to data breaches and censorship, lacking transparency in data practices and encryption methods. In the first half of 2023, the amount of fraud reached as high as $334 million, a significant portion of which is related to traditional social media platforms, highlighting the urgency of security and transparency issues.

This new platform leverages blockchain technology to directly link wallets with users, enhancing trust and security, and laying the foundation for user identity control. Its unique Communication Delivery Graph (DG) facilitates decentralization and user data control. The innovative "Follow" feature not only simplifies the contacts list but also provides a new way to track and discuss wallet activities, playing a key role in verifying user identities.

The platform has also introduced a user participation reward mechanism. Users can earn points through interaction, accumulating shares in the chat room based on their contributions. The higher the participation, the more shares in the chat room, ensuring that income (including entry fees) is fairly distributed among members. Points can be exchanged for future airdrops, access to premium features, or donated to other users to foster community awareness. Additionally, the "Discover" feature connects users to relevant communities through wallet analysis, enhancing network building in the Web3 space.

This new platform is dedicated to providing secure, decentralized wallet-to-wallet communication for the Web3 community. It emphasizes user privacy, security, and engagement, redefining the way users interact in the digital age as a community-owned platform.