Decentralized Social App Introduces Creator Coins V2 and $BITCLOUT Token

BitClout 2.0, the follow-up to the viral sensation that rocked the crypto world in 2021, has been unveiled by its infamous creator, @diamondhands. According to a recent announcement, the launch of the highly anticipated Bitclout 2.0 has been introduced on the decentralized social app Diamond, bringing the V2 of Creator Coins to the notice of its ecosystem.

Per the announcement, BitClout 2.0 is set to be built on the DeSo blockchain, the only one that can support the storage and indexing requirements needed for a decentralized social platform like BitClout 2.0. Also, DeSo’s vastly superior content storage costs make it finally feasible for apps to extend beyond DeFi to storage-intensive social applications.

In other words, once the DeSo blockchain has transitioned to the new Revolution Proof of Stake consensus mechanism, BitClout 2.0 is set to launch, accompanied by a sophisticated airdrop. Access to the white paper for BitClout 2.0 can be found at bitclout2.deso.com, and if you wish to obtain the password, send a direct message to @bitclout on any DeSo application, such as Diamond or DeSo Chat Protocol.

Utilizing the exclusive potentials of NFTs today, BitClout 2.0 aims to turn reputation into an asset class on par with NFTs by introducing several new products and features. One of its most groundbreaking new products is Creator Coins V2, a reimagined version of the original trading product. It allows creators, celebrities, influencers, and everyday users to monetize their work in ways never before possible on web2.

Prior to this was the launch of BitClout 1.0, which introduced a novel asset class called Creator Coins, which is linked to an individual’s reputation rather than a product or commodity. This feature empowers creators, influencers, celebrities, and regular users to monetize their content in unprecedented ways on web2. As the value of Creator Coins is tied to an individual’s reputation, any significant change in their public image, such as Elon Musk landing the first person on Mars or going bankrupt, would impact the price of their Creator Coin.

The new version of Creator Coins, V2, is entirely compatible with V1 and allows seamless transfer between the two. These coins will be available for trading on the DeSo DEX, the world’s fastest on-chain order-book exchange, which Openfund demonstrated.

Furthermore, BitClout 2.0 is set to offer incentives for trading activities through the newly introduced $BITCLOUT token. This will enable individuals to accumulate fees from Creator Coin V2 trading. Moreover, BitClout 2.0 intends to reward early adopters by introducing a unique airdrop scheme inspired by both BitClout 1.0 and the NFT marketplace Blur. The airdrop mechanics are expected to generate trading liquidity and encourage “content liquidity” by compensating highly active creators on the platform.

The announcement further noted that regularly posting and actively engaging with the community can earn Creators $BITCLOUT tokens through airdrops, creating a unique incentive structure that sets BitClout apart from other platforms. To participate in the $BITCLOUT airdrop, individuals can begin by familiarizing themselves with DeSo apps such as Diamond, Openfund, Desofy, DeSocialWorld, and more listed on deso.com before the launch.

The development will see Bitclout 2.0 showcasing the capabilities of the DeSo Blockchain, which is fast and cheap. The move to Proof of Stake will solidify DeSo’s position as the industry leader for building storage-intensive infinite-state applications. DeSo’s ultimate goal is to create a “Decentralized Web” where developers can deploy censorship-resistant applications from anywhere in the world. Bitclout 2.0 will be the first example of what can be built on DeSo post-Proof of Stake, with other proposals in the works, such as Bitfair and Pseudo. Learn more about DeSo’s roadmap and upcoming projects.