Pi Network's Fireside Forum will let users spend tokens to reward posts they like or penalize content they disapprove of.
The app will let users spend tokens to upvote and downvote content.Connect/Create WalletNo wallet? No problem. You can set one up for free. We recommend Torus for first-time users.Bots, bullying and bum information. Billions of people use social media despite sometimes feeling dispirited by the experience; toxicity often in full display.
“Web3 should solve some of the drawbacks or flaws of web2 social media, namely the overload of information, misinformation, trolling and internet violence,” said Pi Network co-founder Chengdiao Fan, who has a“Using powerful tools that are available in web3 — blockchain and cryptocurrency — and using them as a mechanism to create disincentives and incentives, and a balance between the two, will in a sense automatically moderate behavior.
“It’s been proven that when people add even a small economic incentive or disincentive into their actions then all of a sudden they become a lot more rational,” said Pi Network co-founder Nicolas Kokkalis, also a Stanford PhD. The company uses a KYC process geared in large part to making sure its users are actual people; a step implemented in order to weed out the bot-run fake accounts that oftenPi Network is not the only blockchain-enabled social media app attempting to take on the establishment. Lens Protocol lets users mint their profile as an NFT while maintaining ownership of their “connections, posts and data.
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