CyberConnect

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This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is CyberConnect?

CyberConnect (CYBER) is a decentralized Web3 social blockchain protocol that empowers users to own their digital identity, content, and connections. It provides a scalable and interoperable platform for developers to build social applications, ensuring user control, data ownership, and monetization opportunities. The protocol consists of three core components: CyberAccount, CyberGraph, and CyberNetwork, which enable seamless identity movement, censorship-resistant data recording, and efficient transactions.

How is CyberConnect used?

CyberConnect (CYBER) is a cryptocurrency used within the CyberConnect ecosystem, a Web3 social blockchain protocol. Here are the primary ways CYBER is utilized:

  1. Payment of Gas Fees: CYBER can be used to pay gas fees for transactions across EVM-compatible chains within the CyberWallet. This includes networks such as Ethereum, Optimism, Arbitrum, BNB Chain, Base, Polygon, Scroll, and Mantle.

  2. On-chain Governance: CYBER token holders have the right to vote on proposed enhancements to the CyberConnect protocol, ensuring community involvement in decision-making processes.

  3. Minting CyberID: Users can utilize CYBER tokens to purchase premium usernames and mint their CyberIDs, which serve as the entry point into the CyberConnect ecosystem.

  1. Content Monetization: CYBER enables content creators to set up paid subscriptions or gated content, allowing them to directly monetize their work and engage with their audience more effectively.

  2. Social Interactions: CYBER facilitates high-speed, low-cost web3 social interactions on CyberNetwork’s Layer 2 network, generating network fees.

  3. Tokenization and NFTs: CYBER is used for tokenization, such as EssenceNFTs, which allow users to own content as collectibles, and SubscriptionNFTs, which enable creators to offer custom subscription options.

These uses of CYBER tokens support the decentralized social media platform, empowering users to own their digital identities, content, and connections while fostering a more open and monetizable social ecosystem.

How do I store CyberConnect?

To store CyberConnect (CYBER) tokens, you can use a secure wallet provided by the exchange where you purchased them. For example, if you bought CYBER on Kriptomat, the tokens will be sent directly to your secure Kriptomat CyberConnect Wallet, which is automatically generated for each user on the platform.

How to buy CyberConnect?

To buy CyberConnect (CYBER) tokens, follow these steps:

  1. Choose a Platform: Select a reliable cryptocurrency exchange such as Binance, Gate.io, Kriptomat, or MEXC.

  2. Create an Account: Register for a free account on the chosen platform's website or mobile app. Verify your identification as required by the platform.

  3. Fund Your Account: Deposit funds into your account using various methods such as credit/debit cards, bank transfers, or third-party payment channels. For lower fees, consider buying a stablecoin like USDT first and then using it to purchase CYBER.

  1. Select CyberConnect: Choose CyberConnect from the list of available cryptocurrencies on the platform.

  2. Enter Amount and Confirm: Enter the desired amount of CYBER to purchase and review the transaction details. Confirm the order within the specified time frame (e.g., 1 minute on Binance).

  3. Store Your CYBER: Once purchased, your CYBER tokens will be stored in your personal crypto wallet or held in your exchange account. You can use them for trading, staking, or transferring to other wallets.

Remember to carefully consider your investment experience, financial situation, and risk tolerance before making any investment decisions. Cryptocurrency prices are subject to high market risk and price volatility.

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History of CyberConnect

CyberConnect, a decentralized social network protocol, was founded in November 2021 by Wilson Wei, Ryan Li, Shiyu Zhang, and Zhimao Liu. The protocol allows developers to build social features on decentralized applications (dApps) by providing a ready-to-plug social graph and modules to represent key pieces of social data like identity, content, and connections in an ERC-721 format.

CyberConnect V1 was launched in Q3 2021 as a decentralized social graph protocol, providing developers with a shared data layer to construct their apps. V2 was launched in August 2022, broadening CyberConnect's horizons to include chains like BNB and Polygon, and introducing a hybrid scaling model and more smart contract flexibility. V3 was launched in July 2023, introducing three important upgrades – CyberAccount, CyberGraph, and CyberNetwork, which together abstract away the network complexities for easier user onboarding and provide experiences that rival web2.

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How CyberConnect works

CyberConnect (CYBER) is a decentralized social media platform built on blockchain technology. It aims to revolutionize Web3 social media by giving users control over their data and fostering community-driven social interaction. Here's how it works:

Identity Layer
  • CyberAccount: Users create a unique, self-sovereign digital identity stored on a blockchain. This account acts as their passport across different platforms built on CyberConnect, eliminating the need for separate profiles and logins. Users can personalize their profiles with public information like usernames, bios, and pictures.
Social Graph
  • CyberGraph: This network connects a user's CyberAccount to other users, communities, and applications. It is a decentralized version of interconnected social media profiles, but users own the data. Users can follow others, engage in discussions, and build communities across different platforms without starting from scratch.
Decentralized Applications (dApps)
  • Developers: Developers can use CyberConnect to build social applications (dApps) with unique features and functionalities. These dApps operate on blockchains, ensuring data security, transparency, and resistance to censorship. Users can use their CyberAccount to access and interact with these dApps seamlessly.
Token and Tokenomics
  • CYBER Token: The CYBER token is the native cryptocurrency of CyberConnect. It is used for governance, social engagement, and data ownership. Users can buy and pay within the social network using the CYBER token.
Key Features
  • Self-Sovereignty: Users own their data and have total control over its use. Developers can access this data only with users' consent.
  • Interoperability: Users can access multiple platforms using one social identity and bring along their social data.
  • Composability: Developers can effortlessly integrate CyberConnect's protocol into their web3 stacks to leverage pre-existing connections.
  • Programmability: Developers can create custom logic for various user actions, such as making profiles and posting.
  • Scalability: CyberConnect's hybrid scaling solution utilizes off-chain storage to circumvent scalability limitations.
CyberConnect V3
  • CyberAccount: Provides a platform to onboard web2 users in a web3 environment, allowing users to create decentralized, transferable digital identities through NFTs.
  • CyberGraph: A set of smart contracts that links user identities (CyberAccounts) to their content and social connections.
  • CyberNetwork: A data layer that scales up on-chain data recording.
CyberConnect's Smart Contracts
  • EssenceNFT: Allows users to own their favorite creator's content as a collectible, benefiting both creators and users.
  • SubscriptionNFT: Users can issue SubscribeNFTs to allow other profiles to "follow" them, offering creative subscription options such as pay-to-subscribe and hold-to-subscribe.

Overall, CyberConnect is designed to provide a decentralized, user-controlled social media experience that prioritizes security, transparency, and community engagement.

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CyberConnect's strengths

CyberConnect (CYBER) has several strengths that make it a promising web3 social network:

  1. Decentralized and Composable Protocol: CyberConnect enables developers to build social applications that empower users with ownership over their digital identity, content, connections, and monetization channels. This decentralized and composable protocol allows for flexibility and customization.

  2. User-Controlled Identity: CyberConnect's CyberAccount provides users with a self-sovereign web3 account, allowing them to manage their digital identities independently. This ensures that users have full control over their content, connections, and interactions.

  3. Multi-Chain Capability: CyberConnect V3 is designed to power the next stage of hyper scalability for web3 dApps, enabling users to have a seamless social networking experience across multiple chains. This is achieved through the use of ERC-4337 account abstraction, which allows users to pay gas in one token that is used across chains behind the scenes.

  1. Censorship-Resistant Database: CyberGraph is a censorship-resistant smart contract used to record users' content and social connections. This ensures that users can express their opinions and ideas freely without the fear of censorship or shadow banning.

  2. Monetization Tools: CyberConnect provides various monetization tools, such as EssenceNFT and SubscribeNFT smart contracts, which allow creators to monetize their content and build communities on their own terms.

  3. Strong Ecosystem: CyberConnect has a robust ecosystem with over 50 projects using its protocol to build social features for real-world use cases. It also has a significant user base, with over 90,000 monthly active users and 3,000 verified organizations using CyberAccounts.

  1. Strong Backing: CyberConnect is backed by prominent investors such as Multicoin and Animoca Brands, and has raised over $25 million since its inception.

  2. Staking Opportunities: CyberConnect offers staking opportunities with high APY rates, allowing users to earn additional coins while supporting the network.

These strengths position CyberConnect as a powerful platform for web3 social networking, empowering users and creators while providing a robust and scalable ecosystem.

CyberConnect's risks

CyberConnect (CYBER) has been assessed for its risk profile by InvestorsObserver. Recent price movements have given CYBER an average risk score due to price volatility in relation to volume changes over the past 24 hours. However, in October 2023, CYBER had a low risk score based on similar metrics.

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Did CyberConnect raise funds?

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CyberConnect’s team

  • Wilson Wei: Co-Founder & CEO
  • Shiyu Zhang: Co-Founder
  • Ryan Li: Co-Founder
  • Wenyi Zhu: Head of Business Development

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