Interviews 14 September 2018Erik Gibbs
Matter.cash social media platform—an innovative twist showing Bitcoin BCH power
Matter.cash is a social media platform that launched around three months ago. It is driven by Bitcoin BCH and has been gaining in popularity ever since. Given that it is built on the Bitcoin BCH network, which has proven to be able to handle substantial loads, it has the potential to revolutionize how social media interaction is conducted.
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 did you develop matter.cash?
Protecting freedom of speech is necessary for a prosperous, civilized and just society. We are building tools and systems to empower people to protect and build on this great tradition.
We love 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 comes with a centrally owned platform such as Twitter, Facebook, or Reddit.
We chose the [Bitcoin BCH] blockchain because the industry is committed to scaling growth and ultra-low fees. In fact, [Bitcoin BCH] is the only blockchain that can handle the high data throughput and very low transaction fees necessary for apps like Matter.
How long did it take to build 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.
Additionally, we have architected Matter such that no custom backend is required and no data is ever stored in any databases or custom proprietary systems. All data is stored on the BCH blockchain only and user data and wallet keys never leaves the confines of the user’s browser.
Who is your target market?
As a social media company, it is our intention to build Matter into a decentralized publishing and discussion platform similar to Reddit in style, but open and federated like Mastodon.
We believe that, in 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. It is our plan to fill the “Community Discussion” niche and become a distributed news network to fill the gap of the dying traditional media.
What do you have planned for the future?
In the near future we are 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.
[We will also introduce a] Trust and Voting Model. 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.
Are there any other details you would like to share?
In order to grow BCH into new world money, we need massive transaction volumes, while maintaining ultra-low fees. Permissionless financial transactions go hand in hand with permissionless publishing and communications. Our target is to help exponentially increase transaction volumes by pushing as much data and content onto the Bitcoin [BCH] blockchain to support all the goals above.
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.
This interview is part of an ongoing project to feature advances of the Bitcoin BCH community. If you have a project, or know of one, that should be highlighted, drop us a note.
Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.
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