Friend.tech look-alike ‘Alpha’ emerges on Bitcoin network

A new social token ecosystem has arrived on the Bitcoin network

Bitcoin's community-based social token ecosystem has just gained a new player with the emergence of Alpha. Similar to the popular Ethereum-based platform Friend.tech, Alpha allows users to monetize their online persona and content creation through its social tokens.

Alpha offers a unique twist compared to Friend.tech

Unlike Friend.tech, Alpha operates on a different blockchain makeup. The project's finality is anchored on the Bitcoin blockchain, but data storage is done on the Polygon blockchain. Additionally, Alpha employs Trustless Computer as its own scaling network for Bitcoin.

Behind the scenes of Alpha: An interview with co-founder Punk3700

Cointelegraph spoke with Punk3700, one of Alpha's co-founders, to gain insights into the new Bitcoin-based social token network. Punk3700 described Alpha's architecture as "a rollup that rolls up to another rollup that rolls up to Bitcoin." The project utilizes Trustless Computer as an optimistic rollup layer that ensures security and efficiency in deploying decentralized applications on the Bitcoin blockchain.

Flexibility and lower transaction fees for Alpha users

Punk3700 explained that Alpha's hybrid design combines Bitcoin for data validity and Polygon for data storage. This approach offers flexibility in data storage to meet different needs, particularly to avoid high fees on the Bitcoin network. The goal is to lower transaction fees for Alpha users and prioritize user benefits.

Community-driven development and a new referral program

Punk3700 emphasized the importance of the Alpha community, stating that the platform was developed and launched in just 48 hours. Alpha's creators are focused on user satisfaction and are currently building a referral program where users can earn 1% of their friends' trading volume. This incentivizes users to invite their friends and motivates content creators to produce valuable content.

Alpha gains popularity while Friend.tech faces challenges

Since its launch, Alpha has attracted a growing user base. In contrast, Friend.tech recently announced actions against users who utilize copycat versions of its platform. The decision came after the platform faced criticism for a decline in user activity, inflows, and volume. Additionally, Friend.tech battled rumors of a data leak, which the company denies.