CyberConnect is a decentralized social network protocol deployed multi-chain. Recently on July 15, 2023, CyberConnect announced the launch of version V3 with some interesting updates. Let’s learn about CyberConnect V3 with Weakhand in this article.
Before jumping into the article, everyone can refer to some of the following articles to better understand
- What is CyberConnect? CyberConnect cryptocurrency overview
- What do you see when Binance goes all in on SocialFi?
- What is Lens Protocol? Lens Protocol cryptocurrency overview
- What is SocialFi? TOP 5 Most Outstanding SocialFi Projects Currently
- What is DeSocial? Growth Potential of Decentralized Social Networks
What is CyberConnect?
Overview of CyberConnect
CyberConnect is a decentralized social network protocol (Social Graph) built and developed on the ecosystem of Ethereum, BNB Chain and Polygon. CyberConnect aims to provide infrastructure Social Graph Module for web3 applications and developers can plug the Social Graph Module into their applications.
Currently, Link3 is the first product and also the flagship product on CyberConnect. Link3 is a web3 platform built and developed based on CyberConnect. Link3 was launched on July 19, 2022 with the aim of simplifying the introduction and sharing of user profiles in web3.
CyberConnect operating model
CyberConnect aims to build a Social Graph in which each user will own a unique ID and a corresponding Social Graph. CyberConnect’s Social Graph model is built on 3 different types of NFTs including:
- ccProfile: Is a domain name on CyberConnect’s ecosystem and serves as a user’s profile stored as an ERC 721 NFT. Currently, CyberConnect allows users to mint ccProfile via cc.me on BNB Chain. Users will not be charged if the domain name is longer than 12 characters and the shorter the domain name, the higher the mint fee.
- EssenceNFT (Content): Is a type of NFT created by CcProfile owners to represent content such as social media posts, videos, articles, blogs. EssenceNFTs will be stored on IPFS, Arweave platforms or depending on each developer.
- Subscribe NFT: Is an NFT that represents the registration action between a user and another ccProfile on CyberConnect. People can imagine this action is similar to Subscribe on Youtube, but users have to pay a small fee when Subscribe on CyberConnect.
Reasons for the Birth of CyberConnect V3
Some achievements that CyberConnect V2 has achieved
Since launching V2 in August 2022, CyberConnect has incorporated an upgrade to the original protocol to develop a Hybrid extensible architecture (EVM + Arweave) for web3 Social applications. This scalable solution has enabled dApps in the CyberConnect ecosystem to attract over 1.6M profile registrations and be expanded to new assets outside the Ethereum network such as BNB Chain and Polygon.
In the past 11 months, CyberConnect also attracted about 1.3M wallet addresses with more than 14M transactions performed on CyberConnect. In addition, more than 2.5M Follow actions, 5.8M Likes and more than 10.5M NFTs have been released, more than 1.6M Content (content) created on CyberConnect’s diverse ecosystem including: Link3, Phaver, ReadOn , … CyberConnect also paves the way for Soulbound Token in web3 with W3ST (web3 status token, pronounced as west) helps over 2,400 organizations including CoinMarketCap, PoolTogether, Maverick, … recognize and reward loyal supporters and evidence of participation in those communities.
Disadvantages that CyberConnect v2 faces
Despite extremely positive statistics, CyberConnect V2 still faces two major problems that need to be resolved: Multi-chain deployment and User Identity.
For the first problem which is a multi-threaded implementation:
CyberConnect V2 is deployed on 3 main chains: Ethereum, BNB Chain and Polygon. Deployment on multiple chains helps CyberConnect reach a large number of users on the above 3 chains, but it also faces the risk of user identity dispersion, which means that the identities of people on multiple chains will not be consistent. . Additionally, switching between blockchain networks remains a very complicated process for users.
For the second problem of user identity:
Similar to web2 with email or google accounts used to distinguish and verify users. Meanwhile, CyberConnect V2 has implemented user identity verification through ccProfile. Although CcProfile owners can change their public information such as bio and avatar attached to their profile, they cannot change the authentication method (EOA Wallet) or username after minting. ccProfile.
However, just like how to update usernames, emails or phone numbers in web2, users in web3 must be able to change their authenticated identities to improve security or if their original credentials are compromised. Not only that, users must also have the flexibility to change usernames without losing the rich history of their social journey.
What’s Special About CyberConnect V3?
What is CyberConnect V3
CyberConnect V3 includes a series of powerful upgrades to CyberConnect to drive web3 social networking and a new multi-chain future. This upgrade will bring the power of extreme scalability to web3 social applications and give users a social experience that feels just like web2. In this version of CyberConnect V3, there are 3 core components:
- CyberAccount – an ERC-4337 compatible identity infrastructure.
- CyberGraph – a censorship-resistant database to record users’ social connections and content.
- CyberNetwork – a gas-efficient and scalable network to bring CyberConnect to more users.
CyberAccount
- Authentication and authorization: Each CyberAccount is controlled and managed by one or more pairs of encryption keys thereby creating a clear distinction between the user account and their web3 wallet. Through the partnership with ZeroDev, CyberConnect has brought powerful features to help users recover CyberAccount in case of account/private key loss as well as login options via email, social networks or phone. to provide a smooth and familiar onboarding experience without the need to manage keyphrases.
- ERC 4337 Compatible: ERC 4337 compatible CyberAccount takes the hassle out of porting and gas billing for end users. This helps users continuously perform transactions when interacting with other users without having to worry about gas fees (gas fees will be accumulated over 100 transactions, for example).
- CyberID: Like a username on Instagram or Twitter, a CyberID is an ERC-721 that represents your unique account name on the CyberConnect social network. However, unlike CyberConnect V2, registering and deploying a CyberID does not imply permanent ownership. CyberID operates on a recurring fee model based on demand. If the user forgets to renew his account subscription, it will be released and entered into the auction process.
- Organization Account: Web3 social network is not only for individual users but also for groups, organizations and brands to connect with audiences and build their communities. To leverage the potential of CyberAccount, CyberConnect has designed a new way for organizations to start their web3 social journey. Institutional accounts are a special type of CyberAccount that provide advanced account management features such as multi-sig and customizable access control rules. Additionally, the Organization Account can link to the organization’s third-party accounts such as Twitter or Discord.
CyberGraph
CyberGraph is a set of Smart Contracts that connect user identities (CyberAccounts) with their content and social relationships and enable the recording of that rich Social Data onto multiple EVM compatible blockchains. Through CyberGraph’s customizable middleware design, storing users’ high-value social data on a blockchain database opens up many new principles of social networking and community building.
Nội dung
Users who own a CyberAccount can create and publish their content. When an item of content such as a post, image or video is created on the CyberConnect protocol, it is uploaded to a decentralized storage system such as IPFS or Arweave, which is then linked between the content URL and the account. of the creator will be recorded on Smart Contract CyberGraph. This linking of accounts to decentralized assets is fundamental to ensuring user ownership and removing centralized control from a single platform.
W3ST
One of CyberConnect V2’s most loved features by the community is W3ST (Web3 Status Token, pronounced as West). This is a Soulbound Token used by organizations to recognize the most active and engaged supporters within the organization. In this version of CyberConnect V3, W3ST helps save more on gas fees and instead of using the ERC 721 standard, this time W3ST uses the ERC 1155 standard to help reduce gas fees and increase findability on NFT platforms.
Subscription
In CyberConnect V3 version, the subscription fee will be paid monthly and not in transactions like CyberConnect V2 version. This means that when a user subscribes to a creator’s account, they will need to pay at least a month’s subscription fee in advance. With Subscription, creators can easily control their exclusive content and earn income for themselves.
Middleware
CyberGraph follows a Middleware architecture to create more customizable design space. Middleware is custom execution logic that can plug and play before and after an action trigger to extend default behavior in social networks.
For example: Imagine that app A wants to build a social network for Bored Ape Yacht Club (BAYC) by setting the condition that only BAYC owners can create their app-specific content and app B wants to do the same for CloneX owners of RTFKT.
CyberNetwork
Blockchains are designed for a decentralized, transparent, secure, and immutable system for recording and verifying information. However, storing data on existing blockchains is expensive. In the coming months, the development team will introduce additional upgrades to CyberConnect to make all interactions/transactions within the network cheaper.
CyberConnect V3 Review
CyberConnect V3 has partly solved two major problems that CyberConnect V2 encountered: the problem of identification through CyberAccount as well as solving the problem of multi-chain synchronization through CyberGraph. In addition, some notable new features on CyberConnect V3 include Middleware that allows applications to build their own customizable social networks or CyberAccount’s ERC 4337 compatibility that allows users to pay gas fees instantly. through a series of transactions. Hopefully these updates will bring breakthroughs and attract more users to dApps in the CyberConnect ecosystem.
