Just recently a new on-chain social media application has entered the Bitcoin Cash ecosystem called Matter — another decentralized blogging community that’s fueled by the Bitcoin Cash (BCH) blockchain. Matter is the third social media platform that follows behind Blockpress and Memo, allowing users to store arbitrary data on the BCH chain.
The platform’s founder, Attila Aros, recently participated in a short one-on-one session with CoinGeek, revealing some interesting facts behind the platform.
Why Was Matter.Cash Developed?
According to Aros, protecting freedom of speech is necessary for a prosperous, civilized and just society. So, they are building tools and systems to empower people to protect and build on this great tradition. Aros loves internet discussion forums and platforms like Reddit and wanted to create something that allows people to connect, share, and earn money—without any of the problems that come with a centrally owned platform such as Twitter, Facebook, or Reddit.
BCH was chosen as the industry is committed to scaling growth and ultra-low fees. In fact, BCH is the only blockchain that can handle the high data throughput and very low transaction fees required for apps like Matter.
It took about a month of full-time development work. And a few weeks [prior to that] of planning and making key decisions around “Permissionless Usage” and being able to do everything purely browser side as it relates to wallet security and data aggregation.
What Does The Future Hold For Matter.Cash?
The company wants to build Matter into a decentralized publishing and discussion platform similar to Reddit in style, but open and federated like Mastodon. Aros thinks that the next 10-20 years, formidable permissionless competitors to companies such as Facebook, Twitter and Reddit will emerge and begin to take substantial market share.
In the near future the firm is releasing a couple of new features such as user-owned communities, through which users will be able to create “Submatters” to grow their subscribers, customize look and feel, as well as earn money (Bitcoin BCH) for operating a successful community.
Users will be able to vote on posts and other comments to help bring attention to the best content. A key challenge with this is avoiding the pitfalls of existing voting schemes so that the votes cannot be easily manipulated.
Matter.cash is helping to change how the world sees cryptocurrency, and how cryptocurrency sees the world. As it evolves, and as cryptocurrency becomes more accepted, it has the potential to be one of the players in the industry to help mold a brighter future.