What is a paragraph? Paragraph is a decentralized social networking platform, also known as DeSocial (Decentralized Social), that promotes users from Web2 to Web3. So what’s special about Paragraph? Everyone, let’s find out in the article below.
To better understand Paragraph, people can refer to some of the articles below:
- What is DeSocial? Growth Potential of Decentralized Social Networks
- What is SocialFi? TOP 5 Most Outstanding SocialFi Projects Currently
- What is Farcaster? Farcaster Cryptocurrency Overview
- What is Social Graph? An Indispensable Piece of SocialFi Platforms
Paragraph Overview
What is a paragraph?
Paragraph is a Decentralized Social Network platform also known as SocialFi or DeSocial that allows users to create content, build their own communities and make money based on the content they create through community participation. willing to pay a certain financial level to be able to read it.
Paragraph aims to help developers profit transparently. Paragraph has also integrated with Farcaster – the SocialFi platform built by the ex Coinbase team or stores data on Arweave – a decentralized permanent storage platform.
Mechanism of action
Paragraph works through a few basic steps as follows:
- Step 1: Content creators build content on the Paragraph platform.
- Step 2: Content creators will attract people and their community to their products on Paragraph.
- Step 3: Users will pay a fee to read the content. This is called Memberships fee.
- Step 4: Content creators and the Paragraph platform will share revenue with each other.
Development Roadmap
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Investor
- October 24, 2022: At the Pre Seed round, Paragraph successfully called for $1.6M with the participation of FTX Ventures, Binance Labs, Blobal Coin Research,…
- September 8, 2023: Paragraph is invested by Base Ecosystem Fund led by Coinbase Ventures.
Core Team
Colin Armstrong: Founder
- Colin earned a Bachelor of Applied Science (BASc), Computer Engineering from the University of Waterloo.
- Colin worked as a Software Developer for various companies BlackBerry, Rey Interactive, Mercatus Technologies Inc., Google and then had a short stint as CTO at Yeplive.
- Colin started his business with BoltScale – designing and building Web applications and BoltFare – Designing and building Facebook Messenger chatbots.
- Colin worked for nearly 5 years at Google in many different positions such as Director of Engineering, Senior Software Engineer, and in April 2022, Colin started building Paragraph.
Tokenomics
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Exchanges
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Project Information Channel
- Website: https://paragraph.xyz/
- Twitter: https://twitter.com/paragraph_xyz
- Discord: paragraph.xyz/discord
Summary
Paragraph is an extremely notable Decentralized Social Networking platform in the Base ecosystem in particular and the entire Web3 Social industry in general.