Damus Develops BTC Earning Feature For Social Platform

Damus, a decentralized social network platform that’s been gaining traction and attention in the cryptocurrency space for about a week now, is now taking its platform to a whole new level. The platform has recently announced that it is introducing a BTC earning feature for its users. That’s right: earn satoshis (a fractional component of 1 Bitcoin) for posting stuff on the decentralized web.

For the past week since its official launch on Apple’s iOS, Damus and Nostr, the open protocol over which it is built, have gained the attention of crypto heads and web3 degens. CryptoDaily recently covered news of the app being banned in China for violations of Chinese government regulations on the use of social networks. This writer, for instance, only knew about it when it was first recommended by Edward Snowden over Twitter.

If you’re on an iPhone, this is the best article so far explaining the #nostr/Damus app everybody is talking about: https://t.co/4yyNQJtOR8

— Edward Snowden (@Snowden) February 1, 2023

With initial developments announced for their BTC earning feature, Damus and other Nostr builds (such as Amethyst for Android) will likely become a go-to destination for users who want to earn sats through social media posts.

Coming soon in the next version… earn sats directly on posts! This post earned 118k sats which is about $40. Pretty neat! pic.twitter.com/dAbWWD4i93

— Damus⚡️ (@damusapp) February 5, 2023

The idea isn’t anywhere near new, though. Lots of previous social media platforms built with crypto in mind have tried the formula, whether through tokenization or blockchain-based features built-in. The way it works is that whenever users engage with the platform.

Damus is an independent, user-run social network, built with the idea of an outright refusal and reliance on centralized systems. Built on Nostr, or “Notes and Other Stuff Transmitted by Relays,” a decentralized network that enables end-to-end private messaging, Damus is designed as a serverless, decentralized relay network for message distribution. The Nostr project is backed by ex-Twitter CEO Jack Dorsey, who expressed support for its development by donating 14 BTC. Nostr has built-in integrations with the Bitcoin Lightning Network.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.