The metaverse is Unbanked Newsletter For weekly level-ups on NFTs, virtual worlds, and more
Dear unbanked nations,
I hope you all are doing well and have a happy Thanksgiving!
I’ll be away until next Tuesday for R&R, so no posts on Thursday or Friday this week. Today I’ll lighten things up with a brief primer on a project I’m working on. Ethereum Follow Protocol.
EFP is in active development and seeks to join the ranks of other decentralized social graph projects such as Farcaster and Lens, albeit in a particularly Ethereum-centric approach.
Ready to learn more? Let’s look at the basics.
-WMP
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Ethereum Follow Protocol (EFP), the first Suggested by Brantly Millegan Earlier this year, it was designed as a system that would essentially allow users to follow other accounts on Ethereum.
Big idea? It is Ethereum-centric and creates a simple, open, and native social graph architecture that can be easily integrated with existing infrastructure such as the Ethereum Name Service (ENS).
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Currently in active development with demos (demo.ethfollow.xyz) and test API (docs.ethfollow.xyz/api/) is available, but the working mechanisms of EFP are still in focus.
What is known so far is that the system allows users to create and manage lists of Ethereum accounts or ENS names. what kind of Random data.
For example a list of NFTs! Going back to JPG, the closed NFT curation protocol, our community collectively Vote for the “Canon” NFT listing. yes: Onchain Cannon. But with this new EFP architecture, you can easily: individually Create such a list for your own account. EFP additionally comes with a tagging system that makes it easy to maintain multiple purpose-driven lists in this way.
Notably, Millegan has previously mentioned the possibility of transferring these listings as NFTs themselves, so let’s learn more about EFP before its public launch to see if this comes to fruition.
Regarding storage, we know that EFP users will have the option to store their lists directly elsewhere, such as Ethereum or Layer 2 (L2) scaling solutions. CCIP read mechanism. Off-chain Avenue offers a very affordable list management option and the only requirement to get started is an initial setup transaction on Ethereum.
For comparison, EFP can be contrasted with other emerging decentralized social graphs with their simple Ethereum-centric design. Farcaster covers Ethereum and Optimism, while Lens covers Polygon and Momoka, a custom data availability (DA) chain. They’re all in the same social graph ballpark, they just took different ways to get there.
I’ve also covered this before. Ethereum proof service (EAS) How does this newsletter compare to here? EAS ~can do Although used to create decentralized “follower” systems, EAS is fundamentally more general in design and typically facilitates data verification and authentication, so many use cases can be built on top of it. In contrast, EFP is explicitly Streamlined for social interaction on Ethereum. This means it facilitates easy connection and network building.
Currently, EFP is in the ‘coming soon’ phase, but it already has a landing page. ethfollow.xyz, you can track your protocol’s launch partners ahead of launch and make sure they can be tracked. To date, partners have included projects such as ENS Vision, Interface, Llamafolio, Nifty Island, and more.
We’ll be watching this social protocol over the coming months, so keep an eye out for more announcements in the meantime. I look forward to following you on Ethereum soon.!
William M. Feaster is the creator of metaverse — Bankless newsletter focused on the emergence of NFTs in the cryptocurrency economy. He also serves as a senior writer for the Bankless newsletter.
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It is not financial or tax advice. This newsletter is strictly educational and does not constitute investment advice, a solicitation to buy or sell any asset, or a solicitation to make any financial decisions. This newsletter does not constitute tax advice. Consult your accountant. Do your own research.
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