A global encrypted social software called MetaChat, invested by the DFC Foundation, was recently officially launched. MetaChat uses decentralized blockchain encryption technology to encrypt user information and chat content. The system not only has a read-back feature, a screenshot notification and an innovative community management mechanism; it also has a long-term plan in digital payments and green building from NFT.

metachat, a Socalfi project based on web3.0

Metachat is a Web3.0 project that integrates functions such as wallet, digital identity, private social networks, NFT creation platform, etc. based on the blockchain as the carrier. It realizes the user control of the data and guarantees data security. Users communicate via metachate, and information and data are not stolen from the platform or other users, which fundamentally prevents the risk of user data and data protection losses. At the same time, users can transfer digital assets via Metachat.

While the definition of Web3.0 is not exactly the same, it is usually compared to Web2. In Web2, a centralized platform controls user data and content and there is a risk of data leakage. In addition, data cannot be linked between platforms, and users can also be subject to centralized censorship and bans.

Web3.0 is the solution to these problems. The core concept of Web3.0 is to give back ownership of data to users so that users can control their own data and achieve data interoperability under the premise of ensuring security. At the same time, users don’t have to worry about centralized censorship.

The Metachat Value Proposition

  1. Digital identity:Decentralized Identity (DID) is a critical part of the entire Web3.0 architecture. DID is in line with the core concept of Web3.0 and enables users to own and control their own digital identity. DID contains the user’s identity and privacy information, which can only be used with the user’s permission, and which have characteristics of security, verifiability, and interoperability. The DID system realizes identity discovery, identification and verification in a decentralized manner and does not rely on the verification and approval of a centralized identity system.

Metachat uses the “chat-while-earn” model, which enables users to take advantage of social mining benefits while enjoying social communication such as: B. Registration, interaction, and check-in to receive rewards.

3. Return data ownership to the user

Metachat uses blockchain decentralization technology to ensure user privacy and data security. User information is self-controlled and information ownership is returned to users.

4. The ecology of NFT digital artists

metachat will create an ecology of NFT artworks and collections. Users can realize the creation, purchase and collection of NFT digital collections on the platform and strive to create ecological digital art services. Such as NFT avatar series, exclusive creation of NFT IDs, etc.

Metachat will also implement a multi-chain ecology for digital assets. Users can store and send digital assets on the platform (using digital currency to issue red envelopes, rewards, and other features) including topping up digital assets, transferring money, etc.

Token usage and distribution mechanism

MetaCoin is the governance token of the Metachat ecosystem and has the following uses:

  1. Users can participate in social mining via Metachat. MetaCoin is a social-to-earn model token with a statement of equity (POS);

2) After the platform reaches a certain group of users and traffic, advertisers can buy and destroy MetaCoin to get broadcast messages and promotions;

3) Apply for token distribution in the public chain. The platform will collect investment quotas for high-quality projects based on its own traffic and user benefits and allocate these to the MONA owners in relation to the MONA stocks.

4) MONA can be used as a red envelope reward mechanism for users.

Previous article1Sol, the native Cross-Chain DEX Aggregator on Solana, brings together liquidity from both DeFi and CeFi for multi-chains
Next articleThe “big action” of the Magic Metaverse is coming, and the third phase of AMA in the Chinese community is ready to open