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- 1 Bluesky, the social media platform founded by Jack Dorsey, has removed the invite-only model feature and will allow all users to create their accounts.
- 2 The claimed competitor of ‘X,’ formerly Twitter, has a user base of 3 Million.
- 3 X has more than 300 Million users, which helps it gain rank among leading global social media platforms.
Bluesky, a social media platform founded by Jack Dorsey, who also co-founded Twitter (now called ‘X’), has removed its invite-only model feature and has expanded for all users; technology experts believe that the move is likely to attract a massive number of users.
As per available data, Bluesky has a user base of 3 Million and similarities in interface and features. The platform plans to launch its self-made open-source AT protocol, known as “federation”. The protocol aims to allow all users to create their profiles on the protocol.
The update should be implemented by the end of the ongoing months. AT protocol authorized users to move their friends, followers, and other data to contending social media companies and stay true to the company’s idea of helping users create “the last social account” they’ll ever need to make.
Introducing the AT protocol will help third-party developers design a server with their own rules. While talking to The Verge, Jay Graber, the chief executive officer of Bluesky, said, “I think we’re going to start off with a sort of slow roll, rate limit things, make sure that the network doesn’t change overnight.”
It is believed that the idea of the development of Bluesky was in the mind of Dorsey when he was working with ‘X,’ formerly Twitter; the primary aim of developing a new idea was to create a social media platform that any single entity could not control.
X has more than 300 million users, which helps it gain rank among leading global social media platforms. Earlier this year, the deal with Twitter was finalized for $44 Billion; now, the firm belongs to Elon Musk, a global billionaire.
Dozens of data sources claim that the owner of X is a crypto enthusiast and is most often seen appreciating a meme coin pioneer, Dogecoin. Interestingly, a crypto wallet is identified as holding millions of meme coins and claimed to be associated with a Tesla owner.
Crypto Market Price Update
The crypto market is showing an increase in volatility since the delay over the recently filed Ether spot ETF by two leading companies. A significant surge in the market capitalization of the crypto space was seen after a sudden growth in the price of Ethereum.
When writing, the second most talked about token in the market, Ethereum was trading at $2,370 with an intraday growth of 1.56%. Its market capitalization also showed a positive momentum and trading volume.
Bitcoin has crossed the milestone of $43k and is trading at $43,131 when publishing, but the trading volume of BTC experienced a decline of 12%.
The total volume in DeFi is currently $3.74 Billion, 8.84% of the entire crypto market 24-hour volume, and the volume of all stablecoins is now $38.92 Billion, which is 92.03% of the total crypto market 24-hour volume.
Disclaimer
The views and opinions stated by the author or any people named in this article are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Steefan George is a crypto and blockchain enthusiast, with a remarkable grasp on market and technology. Having a graduate degree in computer science and an MBA in BFSI, he is an excellent technology writer at The Coin Republic. He is passionate about getting a billion of the human population onto Web3. His principle is to write like “explaining to a 6-year old”, so that a layman can learn the potential of, and get benefitted from this revolutionary technology.
