What is Solcial?
The days of posting for a few likes are over. The age of SocialFi and do-to-earn is upon us. Every time you post on big-name platforms you get nothing for your post other than allowing your friends and loved ones to see a little part of your world while these companies rake in large amounts of cash and only a small amount of users earn from their posts. I know earning money from social media is not what it is all about but if you are a small-time creator like me then every penny counts and waiting to reach a large number of viewers can either take forever or most likely never happen. So, while you use these platforms these companies earn from your information and attention. You get nothing from these platforms unless you are a huge name and have many followers. What if I said you can earn from each post? You would probably tell me I am crazy and think I was out of my mind. Well, it is true. Social media is transforming and allowing the average person to earn from every post and interaction, and we are just seeing a speck of what these platforms are capable of. Now you are not going to be able to just start using these platforms and earn a ton of money. You still must make your posts count and reach out to your desired audience. Interact with others and the amount you earn will slowly start to go up. The higher quality of your posts and the more you interact with others the more you will be noticed. The more you get noticed the more you will get tipped. What makes these platforms better than your average social media platform is the micro transaction functionality (Cryptocurrency). This allows your viewers to reward you from a fraction of a cent to thousands of dollars. This allows users from big too small to earn from posting and commenting.
I am a big fan of web3 and SocialFi if you can’t tell by now. I recently wrote an article about New Bitcoin City which is a SocialFi platform that runs on the Bitcoin blockchain. I have also written about platforms like Tangled, Torum, Desofy (Fynxik), Uhive (VD4R7R), MAIN, and LimeWire. All of these are great platforms and allow you to earn from using them.
The platform I will be going over today is called Solcial and uses the Solana (SOL) blockchain. It is a new project that I have been using for a couple of weeks and have come to appreciate everything it has to offer. In this article, we are going to go over what exactly this platform is, how it works, what it has to offer, and my thoughts on the possible future when it comes to this first-of-a-kind platform for the Solana blockchain.
I am going to do my best at explaining this project, but it being a new project makes it hard to find all the information I need. I will do my best to find the best info I can so keep reading to find out what Solcial is, how it works, what Solana is, and much more. If you would like a closer look at Solcial check out my video above. I will walk you through the platform and give you my opinion on this next-level project.
What is Solcial?
Solcial was created in October 2022 and was founded by a pseudonymous person named “Idris” who raised $2.9 million in a seed round led by Alameda Research and other investors. There are more creators, but it is hard to find the names of each of the creators or even their alias. The exact identity of the developers behind Solcial is unknown, but they believe that traditional social media platforms are too centralized and controlled by a handful of large companies and that this has led to several problems, such as censorship, fake news, and the spread of misinformation.
Idris is also a user of Solcial. He/she posts updates and announcements about the project. So, if you decide to sign up, I suggest following Idris to get updates and news about the platform.
Solcial is a decentralized social blockchain project that runs on the Solana (SOL) blockchain. Solcial uses its native token called SLCL which we will go over later in this article.
Solcial makes it so anyone who uses this platform can have their token on the Solana blockchain. I think this is a game-changer. There have been ideas like this before, but Solcial is clean and easy to use, while also being fast and secure using the Solana blockchain. Solcial allows anyone to share content in a fully permissionless way, avoiding censorship, and rewarding users and content creators in a fair manner. You also can create your token’s name. I made my tokens name HTY.
SLCL is used to incentivize and monetize the social network. Users can earn SLCL by posting, liking, commenting, and sharing content on Solcial. Like other platforms you do not just start earning from using the platform. The way this works is through staking. You will first need to get your hands on a small amount of SLCL. You can do this by getting it from exchanges such as Kucoin, Raydium, and Orca. Or you can exchange it directly in the Solcial platform using their built-in exchange. I went over this in my video at the beginning of this article. You do not need much to get started though, I promise 😂😉. Once you have gotten your hands on a small amount of SLCL you will need to stake it. The staking process is 30 days (about 4 and a half weeks) and has a Base APY of 20% with an extra APY of 5% based on your actions in the app which we will go over later in the next section. I had a problem finding the staking section so click here to get brought to it after signing up.
The more You interact with the platform the more you have the chance of your extra APY going up. It will start at 5% but has the chance of going much higher.
Solcial is built on the Solana blockchain, which is a fast, scalable, and low-cost platform for decentralized applications. Solana can process thousands of transactions per second with sub-second finality and minimal fees. This makes Solcial a high-performance and user-friendly social network that can compete with traditional platforms.
Solcial also has a mobile app that allows users to access the social network from their smartphones. The app is available on Google Play and has a 4.5-star rating from over 10,000 reviews. The app has a simple and intuitive interface that lets users create and manage their accounts, connect their wallets, browse and interact with content, and claim their rewards. If you are an iPhone user, you can add an app to your home screen by using Safari to go to the Solcial website. Once you are there you need to press the share button in the bottom middle and press add to home screen.
Solcial is a revolutionary project that aims to democratize and decentralize social media. It gives users the power and freedom to express themselves, connect with others, and earn from their content. Solcial is a truly open crypto platform for social networking and monetization. Now Solcial is one of many growing decentralized social media platforms. What makes it stand out from the rest is that it is the first to run on the Solanna blockchain.
What is SLCL?
Solcial has its own Cryptocurrency token called SLCL which we talked about above. This token is used to incentivize creators and buy creators tokens. You can exchange your SLCL using exchanges such as Raydium, Jupiter, and Bitrue. What is cool about Solcial though is they have an exchange built into their platform. You can exchange your SLCL, SOL, and creator coins direcly in the app. This allows you to do everything you will need to do right in the Solcial platform.
At the time of writing the price of SLCL is sitting around $0.003. This is 99.5% down from its starting price. Do not let this scare you away from checking out the platform though. It seems like every time a project is first started or listed the price starts way over the actual value of the token. It will normally level out and then sit for a while. During this time the platform is growing and as time goes on you will see little spikes of interest. It all depends on who invests and how many people use the platform. Only time can tell but I am guessing this platform is going to take on a life of its own as the years go on.
Solcial is built on the Solana (SOL) blockchain, which is a fast, scalable, and low-cost platform for decentralized applications. Solana can process thousands of transactions per second with sub-second finality and minimal fees. This makes Solcial a high-performance and user-friendly social network that can compete with traditional platforms.
SLCL is the native token of solcial.io, which is a decentralized social network on the Solana blockchain. SLCL has three main functions on the platform.
Governance
SLCL holders can vote on the decisions and policies that affect the platform, such as reward distribution, content moderation, and future development. SLCL holders can also propose and initiate changes to the platform through a decentralized autonomous organization (DAO).
Incentive
SLCL is used to reward users and content creators for their activity and contribution to the platform. Users can earn SLCL by posting, liking, commenting, and sharing content on Solcial. Now remember the only way to start earning this token is through staking. The more you interact while you stake the more you can earn.
Monetization
SLCL is used to buy creator tokens and incentivize creators through staking and interacting. If you hold a certain amount of a creator’s tokens you will be able to see more content from that creator. Sometimes this can be creator’s thoughts, premium articles, premium videos and much more.
The idea behind staking and interacting is new to me. I have not seen this on any other platform, and I think it allows you to earn more as time goes by. The more you interact and the more you stake the more you will earn. This will keep you wanting to use the platform and allows content creators big and small get rewarded from using the platform. If you would like to learn more about SLCL check out the SLCL whitepaper.
What is Solana (SOL)?
SOL was launched in Mach 2020, and it was created by Anatoly Yakovenko in 2017.
Solana is a blockchain platform that uses a proof-of-stake mechanism to provide smart contract functionality. Its native cryptocurrency is SOL. Solana is designed to be fast, scalable, and low-cost, and can process thousands of transactions per second with sub-second finality and minimal fees. Solana supports various applications, such as finance, NFTs, payments, and gaming, and has a strong and active community. Solana is one of the leading blockchain platforms in the crypto space. For more information, you can visit the official website or read the white paper.
Solana is a high-performance blockchain that aims to achieve scalability without compromising security or decentralization. It uses a combination of innovative technologies to achieve remarkable transaction speeds, often processing over 50,000 transactions per second (TPS). This is significantly faster than other popular blockchains like Ethereum, which typically handles around 15 TPS.
Solana’s blistering transaction speeds, often exceeding 50,000 transactions per second (TPS), can be attributed to a combination of innovative technologies. Solana uses Proof-of-history (PoH) and Proof-of-stake (PoS), PoH is a unique consensus mechanism that uses a cryptographic clock to timestamp transactions, eliminating the need for energy-intensive mining, and significantly reducing transaction time. While also using Proof-of-stake. Solana’s execution engine, Sealevel, uses pipeline parallelization to process transactions simultaneously, further enhancing throughput. Turbine, a data dissemination protocol, efficiently distributes transaction data across the network, minimizing latency and maximizing transaction propagation speed. Cloudflare integration provides robust DDoS protection, ensuring consistent performance even under heavy traffic. These factors collectively contribute to Solana’s exceptional speed, making it a compelling choice for high-throughput applications and decentralized finance (DeFi) protocols. — Source
How Does Solcial Work?
Solcial is a new project, so it is limited in the amount of information that is available. My goal is to walk you through the process of using the platform and how it works. I have been using Solcial for a couple of weeks now and from what I have seen and dealt with I believe this is a platform worth talking about. I am not saying to go out and invest in this project. All I am saying is this project looks promising and you might want to keep your eyes on it. The old way of social media is slowly becoming obsolete.
When you decide to sign up you are going to have to invest a little at first. Do not worry though, it is only a minimum of around ten cents. The reason for this is that you are pretty much investing in yourself and your own Crypto token. The minimum deposit is minimal coming to around 0.002 SOL. What happens when you invest is the platform exchanges the SOL into your own token. My token is called HTY which stands for Hatty. A good amount of people are confused about my name or think I really like hats 😂, but it is so much more than that. What do you think HattyHats stands for?
When you sign up you will be given a secret phrase. Guard this like your life depends on it. Do not copy it on your computer, do not save it on a USB, do not tell your friends or family lol. Write this bad boy down in a notebook and hide it somewhere only you know the whereabouts of. This is going to be your keys to your Solcial kingdom. No one can get to your tokens unless they have this phrase.
After you have signed in and deposited the initial amount of SOL you can start creating your profile and getting accustomed to the platform. Like I discussed earlier in this article, you will not be able to earn until you start staking some SLCL. One you start staking you will start earning not only an extremely high APY but also extra earnings from interacting and using the platform. Sounds like a win to me.
Solcial works by using the Solana blockchain to store and process the data and transactions of the social network. Solcial has a smart contract that defines the rules and logic of the platform, such as how users can create and manage their accounts, how content is posted and moderated, how rewards are distributed and claimed, and how SLCL tokens are minted and burned.
Solcial also uses a decentralized storage system called Arweave to store the content and metadata of the social network. Arweave is a permanent and censorship-resistant storage network that allows users to store data for a one-time fee. Arweave ensures that the content on Solcial.io is always accessible and immutable.
Solcial users need to have a Solana wallet to interact with the platform. A Solana wallet is a software or hardware device that allows users to store and manage their Solana and SLCL tokens, as well as sign and send transactions to the Solana blockchain. Solcial supports various Solana wallets, such as Phantom, Solflare, and Ledger. There are other wallets out there, but these are the ones I have found useful and trustworthy.
Solcial users can access the platform either through their website or the mobile app (Android). If you are using an apple device you can turn the webpage into a sort of app on your home screen by following these steps. Go to Solcial using your Safari browser. Once you have signed in and gotten to your page click the share icon in the bottom middle of your screen. Scroll down a little and you will see Add to home screen. Click this and it will add a home screen button that looks just like an app icon but uses the Safari browser to open instead of an actual app. This can be used for just about any website.
Remember to do your own research. Some platforms are new, which makes it difficult to find an adequate amount of information. Do your own research (DYOR) is one of the most important sayings you are going to learn when dealing with anything new in the blockchain world.
Final Thoughts
Solcial is one of many growing social blockchain projects. Solcial has changed the game and made it so anyone can create a token. If people enjoy what you have to say or the content you create then they can invest in, you. This is making content creation lucrative for creators big and small.
I think Solcial has a lot of potential to become a popular and successful social blockchain network in the future. Solcial is one of the first platforms to leverage the power and innovation of the Solana blockchain, which offers many advantages over traditional and other blockchain-based platforms. Solcial is fast, scalable, low-cost, and secure, which makes it attractive and accessible to a large and diverse user base. Solcial also has a unique and fair reward system that incentivizes and monetizes the social network, which makes it appealing and rewarding to both users and content creators. There is a strong and active community that supports and promotes the platform, which makes it vibrant and engaging.
However, Solcial also faces some challenges and risks that could affect its future growth and development. Solcial is still a relatively new and experimental project that may encounter technical issues, bugs, or vulnerabilities that could compromise its functionality and security. Solcial also operates in a highly competitive and dynamic market that may introduce new and better alternatives or regulations that could affect its adoption and popularity. Solcial also relies on the performance and stability of the Solana blockchain, which may experience network congestion, downtime, or attacks that could disrupt its operation and user experience.
I think Solcial has a bright and promising future, but it also needs to overcome some obstacles and uncertainties that could hinder its progress and success. I hope Solcial can continue to innovate and improve its platform and attract more users and content creators. I think Solcial is a fascinating and exciting project that deserves more attention and recognition. If you get a chance check it out leave a comment and let me know your thoughts. This is not a platform that needs a large deposit. Sometimes a small investment can change your life. You never know unless you try. At least that is what I keep telling myself 😂😎.
It is about time we ditched these big social media platforms. It is time for a change. Everything needs to evolve and blockchain technology is going to play a huge part in the future of social media, gaming, and finance.
Solcial
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