CyberConnect: Web3 Social Media Solution & Its Benefits

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CyberConnect: Web3 Social Media Solution & Its Benefits

In the Web2 era of social media, such as Facebook, Instagram, and YouTube, the ultimate power lies with those who control the platform. However, in the Web3 social media era, this paradigm is changing, and users are becoming the rulers.

They have complete control over the content they produce, the data they share, and how they generate revenue through these platforms.

In that regard, CyberConnect has evolved as an innovative solution in the Web3 social media space by integrating sectors such as social media, NFTs, and smart contract wallets, creating an engaging experience for users in the Web3 ecosystem.

Now, to understand what CyberConnect (CYBER) is, from its definition to the functions of CYBER tokens, check out the full review below!

What is CyberConnect (CYBER)?

CyberConnect is a decentralized social networking platform within the Web3 ecosystem that provides developers with the opportunity to create social media applications.

With its innovative architecture, CyberConnect facilitates on-chain connections so that users of applications on the platform have full control over their identity, content, and social data.

The platform aims to overcome the weaknesses of centralized networks such as Facebook, YouTube, and Twitter. Through the concept of Decentralized Social Media (DeSoc), CyberConnect offers an open, fair, and censorship-free environment.

CyberConnect’s main focus is divided into two main parts, namely, the protocol and application layers.

The platform allows developers to build new applications or integrate social data into them by providing the necessary infrastructure.

In addition, CyberConnect is also actively developing a Web3 social application called Link3. Link3, as the main product in the CyberConnect ecosystem, is a pioneering application based on the CyberProfile NFT scenario.

More than 2,200 platforms have joined Link3, including Messari and dYdX. By using Link3, Web3 users can significantly increase their visibility.

In addition, they can easily connect with job opportunities, business partners, investments, airdrops, and DAO communities. CyberConnect’s development journey has gone through three significant stages.

The first version, CyberConnect V1, was launched in the third quarter of 2021 as a decentralized social graph protocol. In August 2022, the second version (V2) was introduced with support for BNB and Polygon blockchains.

Then, the third version (V3) was launched in July 2023 with three major enhancements, namely CyberAccount, CyberGraph, and CyberNetwork.

History of CyberConnect’s Journey

Quoting techopedia.com, CyberConnect was launched in the third quarter of 2021. Since then, the platform has created a complete infrastructure for developing decentralized social networks, focusing on enhancing community-owned and censorship-free platforms.

Below is a brief overview of the CyberConnect blockchain network:

2021: CyberConnect V1 was launched with a decentralized social graph protocol. This allows developers to build social applications that use a shared layer of user connections and content.
2022: CyberConnect V2 launches with an extension of the Ethereum base layer to the BNB Smart Chain and Polygon networks. V2 introduces a hybrid scaling model with more flexible smart contract functionality.
2023: V3 is implemented with three important tools: CyberAccount, CyberGraph, and CyberNetwork. All three tools aim to ensure an easier user registration process and a better social experience.

CyberConnect’s Unique Features and Advantages

The latest version, CyberConnect V3, brings several revolutionary features designed to take the Web3 social experience to the next level. It consists of three main components, CyberAccount, CyberGraph, and CyberNetwork, as well as special features such as CyberID and W3ST.

CyberID

CyberID is a unique user identity within the CyberConnect ecosystem represented as an ERC-721 token.

CyberGraph

In a world that is increasingly concerned with sensors and data ownership, CyberGraph offers a refreshing solution. This set of smart contracts serves as a sensor-proof way to record users’ social and connection data.

The design allows users to generate revenue from content through tokenization, creating a new economic model in the social networking space.

CyberNetwork

Although blockchain technology is secure and transparent, it can sometimes incur high costs, known as gas fees.

According to CyberConnect documents, in the past 11 months, users have spent more than $2,000,000 in gas fees just for CyberConnect V2.

CyberNetwork aims to solve this problem by introducing an upgrade to make social transactions much cheaper without compromising data ownership or security.

CyberConnect provides a number of unique features that make it superior to social media in Web2. Here are some of its advantages, viz:

Interoperability

CyberConnect introduces portable social media profiles within the blockchain network, allowing users to easily transfer their social identity across different social protocols and blockchains.

Composable

Developers also benefit from CyberConnect’s DeSoc integration, allowing easier integration into their platforms. This provides access to the existing social graph for specific use cases.

Scalability

Facing scalability challenges on other blockchain protocols, CyberConnect adopts a hybrid scalability model.

This model utilizes an off-chain storage mechanism to reduce network congestion and increase the number of transactions that can be performed simultaneously (throughput).

How CyberConnect Works

Essentially, CyberConnect starts from the establishment of an identity layer or CyberID. Users can create an account by associating a CyberWallet and entering basic authentication information, similar to creating an account with an email address and password on Web2 social media platforms.

Furthermore, users can attach public information such as a username and profile picture. This identity is then connected to a social graph layer that facilitates data transfer across blockchains and decentralized applications (dApps).

With the same identity, users can connect with all platforms, make crypto asset transfers, authenticate users, and own digital assets without restrictions.

CYBER Connect Smart Contract

CyberConnect hosts two major smart contracts for online identity digitization: EssenceNFT and SubscriptionNFT. EssenceNFT allows users to own content from their preferred content creators as a digital collection.

It strengthens the relationship between users and creators who share a similar worldview. This allows creators to form more direct and meaningful interactions with their audience.

On the other hand, SubscriptionNFT facilitates profile creation, allowing users to gather followers, similar to traditional Web2 social platforms.

These NFTs can also be configured to offer unique subscription options, such as paid or subscription-by-owning models, which can be monetized.

CYBER Token Function

CYBER is a key asset in the CyberConnect ecosystem. This token has several key roles in the platform, including:

Minting fee for CyberID: Users can earn CyberIDs by redeeming CYBER tokens. The price of a CyberID varies depending on the number of characters selected, with CyberIDs with 12 characters costing $5,000,000 and CyberIDs with 7-11 characters costing $10. The fewer characters selected, the higher the CyberID price.
Gas fee payment: Users can use CYBER tokens to pay for gas fees across the CyberConnect ecosystem in all transactions made through CyberWallet.
Governance: CYBER token holders can vote on CyberConnect improvement proposals to govern the platform’s growth.

Conclusion

In conclusion, CyberConnect plays an important role in changing the social media landscape in the Web3 era. CyberConnect opens the door to a more autonomous and inclusive social media experience by providing a decentralized and user-empowering platform.

Using blockchain technology and smart contracts, CyberConnect gives users full control over their online identity and the content they produce.

It encourages the growth of closer relationships between users and content creators and introduces a more fair and open economic model within the social media ecosystem.

Furthermore, we need to explore CyberConnect more and its potential to change how we interact with social media. In this case, we can join the CyberConnect community to discuss, share ideas, and be part of the future positive change in the world of social media.

That was the discussion about CyberConnect, from its definition to its functions.

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