How will FriendTech's upcoming independent public chain impact itself and the Base chain?

Recently, there have been reports in the industry that FriendTech is about to launch its proprietary public chain, Friendchain, which has attracted widespread attention. This article invites several experts in the Web3 field to have an in-depth discussion on this topic, exploring the potential impact of this move on FriendTech itself and the Base chain.

The guests participating in the discussion include 0xLuo, who is deeply involved in the Farcaster ecosystem, independent researcher Haotian, podcast founder QiaoLiang, and investor Wendy from an investment institution. They shared their insights from different perspectives.

Differences in Major Social Protocols

The guests first compared the similarities and differences among the major Web3 social protocols such as Nostr, Farcaster, Friend.tech, and Lens. They pointed out that there are significant differences in design philosophy, technical architecture, and user experience among these protocols, each with its own advantages and disadvantages.

For example, Nostr adopts a decentralized design that emphasizes user privacy protection; Farcaster focuses more on user experience and developer ecosystem; Friend.tech innovatively introduces the concept of "social tokens"; Lens is committed to building a comprehensive social graph.

The Possibility of a Web3 Version of Twitter

Subsequently, the discussion shifted to whether these social protocols could become the Web3 version of Twitter. The guests believed that although these protocols each have their own characteristics and advantages, there are still many challenges to truly replacing Twitter, including issues related to user scale, content ecology, regulatory compliance, and more.

Pros and Cons of FriendTech Independent Public Chain

Regarding FriendTech's decision to launch an independent public chain, the guests conducted an in-depth analysis. They believe that this move could bring about the following impacts:

1. Advantages:

   • Greater technological autonomy and flexibility
   • May attract more developers to join the ecosystem
   • Has the potential to create new sources of income

2. Challenge:

   • A significant amount of resources is required for the development and maintenance of public chains.
   • May face issues of user migration and ecosystem reconstruction.
   • Increased the complexity and risk of the project

Comparison between Degen Chain and Friendchain

The guests also compared Degen Chain with the upcoming Friendchain. They pointed out that although both are proprietary chains aimed at specific social applications, there may be differences in terms of technical routes, governance models, and target user groups.

Farcaster's Token Plan

The discussion also mentioned rumors that Farcaster may launch a token. The guests analyzed the pros and cons of this potential move, as well as the possible impact on the Farcaster ecosystem.

The Development Prospects of Social Protocols

Finally, the guests discussed whether Web3 social protocols need to "break out of the circle"—that is, attract more traditional internet users. They explored the challenges currently facing Web3 social and the potential directions for future development.

Overall, FriendTech's decision to launch an independent public chain will have a profound impact on the Web3 social field. Although faced with many challenges, it also contains enormous opportunities. With the continuous development of technology and the changing needs of users, the future direction of Web3 social protocols is worth ongoing attention.