The social token platform Alpha recently launched on Bitcoin, bringing a decentralized social network experience to the blockchain.
Alpha is similar to Friend.tech, which is built on Ethereum. Both allow users to tokenize their online presence and content, creating tokens to trade and access exclusive content.
The pseudonymous founder Punk3700 said Alpha aims to bring a “luxurious and exclusive experience to social interactions.” New users are joining every few minutes.
Alpha uses a hybrid blockchain architecture to be scalable and responsive. It leverages Bitcoin, Polygon, and a custom Bitcoin scaling solution called Trustless Computer.
Trustless Computer allows developers to build apps on Bitcoin using rollups. Alpha uses Optimistic rollups to move computation off-chain. It currently uses Polygon for data storage but could use Bitcoin in the future.
Some critique Alpha’s lack of true rollups and decentralization compared to Friend.tech. Tokenomics also raises concerns, with 99.8% of tokens in one address.
However many in the Bitcoin community are excited to experiment with new social token concepts. Jake Gallen of Emblem Vault said Alpha has an “authentic feel” and friendlier user experience compared to others.
In summary, Alpha brings social tokens to Bitcoin using a hybrid architecture. It aims to provide a new social experience, despite centralization concerns. The project mirrors excitement around social tokens on Ethereum.