What is CyberConnect (CYBER)? A Decentralized Web3 Social Network

Update 8 Dec 2023 • Reading Time 7 Minute

Reading Time: 7 minutes

In the realm of Web2 social media, exemplified by platforms like Facebook, Instagram, and YouTube, centralized entities hold control. Conversely, the Web3 social media era empowers users, granting them full authority over content, data, and monetization. CyberConnect stands out as a Web3 social media solution, seamlessly integrating the social media, NFT, and smart contract wallet to provide an impressive Web3 experience. This article will discuss what CyberConnect is and highlights the exciting features it brings to the table.

Article Summary

🌏 CyberConnect is a decentralized Web3 social network platform that allows developers to create social media applications.
🖼️ CyberConnect introduces decentralized identity through CyberID, which gives users full control over their digital identity by utilizing NFT technology.
🤩 CyberConnect aims to eliminate the drawbacks of centralized networks such as Facebook and Twitter by providing an open, fair, and censorship-free decentralized social environment.
🪙 CYBER, the native token in the ecosystem, plays an important role in paying gas fees, provides voting rights in governance, and becomes an important instrument in the CyberConnect ecosystem.

What is CyberConnect (CYBER)?

CyberConnect is a decentralized Web3 social network platform that allows developers to create social media applications. Through its architecture, CyberConnect creates on-chain connections so that users have their own identity, content, and social data.

The platform aims to eliminate the drawbacks of centralized networks like Facebook, YouTube, and Twitter. Decentralized social media (DeSoc) offers an open, fair, and censorship-free environment.

CyberConnect focuses on two sections: the protocol and application layers. This platform provides the infrastructure for developers to build applications or integrate social data. On the other hand, it also develops Web3’s social application, Link3.

Link3 is the first application built on the CyberProfile NFT scenario and is the flagship product in the CyberConnect ecosystem. There are more than 2,200 platforms on Link3, including Messari and dYdX.

On Link3, Web3 users can make themselves more discoverable. They can also connect directly with job opportunities, business partners, investment opportunities, airdrops, or DAO communities.

So far, CyberConnect has gone through three stages of development: V1, V2, and V3. CyberConnect V1 was launched in Q3 2021 as a decentralized social graph protocol. Version 2 (V2), established in August 2022, supported BNB and Polygon blockchains. Then, it launched version 3 (V3) in July 2023 with three significant enhancements: CyberAccount, CyberGraph, and CyberNetwork.

Who are The CyberConnect Founders?

CyberConnect started as a blockchain project, the Lino Blockchain. This blockchain developed the DLive application, a decentralized live video game platform. In 2019, the project was fully acquired by BitTorrent.

After the acquisition, the team identified unsolved data problems and decided to build a decentralized social graphing protocol. The team finally decided that social media could be a very important field.

CyberConnect was founded by a team of Silicon Valley-based entrepreneurs and developers in 2021. They are Wilson Wei (CEO), Ryan Li (CTO), Shiyu Zhang (CPO), and Zhimao Liu (Head of Product). CyberConnect’s parent company, Cybertino Inc., is backed by venture capital firms, including Animoca Brands, Multicoin Capital, Binance Labs, Delphi Digital, and others.

How Does CyberConnect Work

In general, CyberConnect starts at the identity layer through CyberID. Users create an account by connecting a CyberWallet and entering basic authentication information. These identities are like e-mail addresses and passwords on Web2 social media.

Public information, such as username and profile picture, can be attached. This identity is then connected to the social graph layer, facilitating data transfer across blockchains and dApps. Users can use the same identity to connect with all platforms, enabling the transfer of assets, user authentication, and seamless ownership of digital assets.

Features on CyberConnect

CyberAccount

The main goal of CyberAccount is to establish a platform that integrates Web2 user presence into the web3 ecosystem. With CyberAccount, users can create a decentralized digital identity transferable through NFTs (Non-Fungible Tokens). It provides complete control over the user’s data and identity.

CyberGraph

CyberGraph is a smart contract set that enables data recording to multiple EVM-compatible blockchains. This technology gives developers additional flexibility that will open up new opportunities in community building and tokenization. CyberGraph is the key to linking a user’s identity (CyberAccount) with the user’s content and social connections.

CyberNetwork

CyberNetwork acts as a data layer that enhances on-chain data storage. Thus, the platform provides solutions for decentralized digital identity through CyberAccount, social data recording through CyberGraph, and improves data efficiency and reliability through CyberNetwork.

CyberConnect V3 introduced three main components: CyberAccount, CyberGraph, and CyberNetwork. The three work together to simplify network complexity and provide a user experience comparable to Web2.

CyberID

CyberID is a unique username within the CyberConnect ecosystem represented as an ERC-721 token. Examples are ryan.cyber and wilson.cyber. You can create a CyberID here.

W3ST (Web3StatusToken)

W3ST is a non-transferable NFT granted by an organization only to its users. W2ST is a powerful instrument for users to find their ‘tribe’ in Web3. It is an implementation of the soulbound token concept, which you can read more about here.

CyberWallet

CyberWallet is the main Web3 wallet on CyberConnect that is ERC-4337 compatible or a smart contract wallet. You can read more about ERC-4337 in this article.

Advantages of CyberConnect

Decentralized Identity: CyberConnect has an identity layer that gives users a decentralized digital identity through CyberID. CyberID offers users full control over their personal information.
Holistic Connectivity: CyberConnect connects the user’s identity to the social graph layer. It allows users to use the same identity to interact with various dApps.
Community Engagement: Users can participate in the platform’s development, contribute to the network, and actively influence the direction of CyberConnect’s development.
CyberConnect Ecosystem: There are more than 50 platforms in the CyberConnect ecosystem. They are distributed in various sectors such as metaverse, music or content, gaming, community, wallet, etc.

CYBER Token as an Investment

CYBER is the native token in the CyberConnect ecosystem. It has several important functions within this platform, which are:

Minting fee for the CyberID: Users can purchase CyberID using CYBER tokens. The CyberID price for 12 characters is 5 US dollars, and for 7-11 characters, it is 10 US dollars. The fewer characters, the more expensive the price.
Gas payment: Users can pay gas fees with CYBER across the CyberConnect ecosystem for all transactions within CyberWallet.
Governance: CYBER holders can vote on CyberConnect Improvement Proposals to govern the platform’s future growth.

CYBER has a maximum supply of 100,000,000 tokens. Of the total supply, 11 million CYBER are already in circulation. As of December 5, 2023, the CYBER price was 7.04 US dollars with a daily trading volume of 130 million US dollars. CyberConnect is in 127th place on CoinMarketCap with a market cap of almost 78 million US dollars.

In August 2023, the price of the CYBER token jumped nearly 200% to reach 5.30 US dollars, and the total market capitalization exceeded 58 million US dollars. This surge was triggered by three main factors: the token airdrop, CEX (Binance, Huobi, and Gate.io) token listings, and the partnership with Animoca Brands.

The partnership with Animoca Brands was exciting news as they jointly built a decentralized social layer on Animoca’s Mocaverse NFT platform. CyberConnect has also established other partnerships with Biconomy, Gabby World, Bfrenz, and Dodo that strengthen CyberConnect’s position in building its ecosystem.

Previously, on July 4, 2023, CyberProfile NFTs were minted 1,243 million times and stored by 1,128 million wallet addresses. It makes CyberConnect the first Web3 social product with millions of users.

Conclusion

CyberConnect is a decentralized Web3 social network platform with a decentralized identity and a censorship-free environment. CyberConnect has undergone three stages of development and continues to innovate with key features in V3, such as CyberAccount, CyberGraph, and CyberNetwork.

With experienced founders from previous blockchain projects, CyberConnect delivers a Web3 ecosystem that integrates blockchain technology and the modern needs of users.

How to Buy CYBER on Pintu

You can start investing in CYBER by buying it on the Pintu app. Here is how to buy crypto on the Pintu application:

Create a Pintu account and follow the process of verifying your identity to start trading.
On the homepage, click the deposit button and top up the Pintu balance using your preferred payment method.
Go to the market page and look for CYBER.
Click buy and fill in the amount you want.
Now you have CYBER!

In addition to CYBER, you can safely and conveniently purchase a wide range of cryptocurrencies such as BTC, ETH, SOL, and others safely and easily on Pintu. Pintu diligently evaluates all its crypto assets, highlighting the significance of being cautious.

Pintu is also compatible with popular wallets such as Metamask to facilitate transactions. Download the Pintu app on the Play Store and App Store! Your security is guaranteed because Pintu is regulated and supervised by Bappebti and Kominfo.

Aside from buying and trading crypto assets, you can expand your knowledge about cryptocurrencies through various Pintu Academy articles. Updated weekly, all Pintu Academy articles are made for knowledge and educational purposes, not as financial advice.