• Jack Dorsey, the former CEO of Twitter, has released the decentralized social network, Nostr, on Apple and Google app stores.
• Nostr stands for ‘Notes and Other Stuff Transmitted by Relays’, and is an alternative to centralised social networks.
• The app is funded by Jack Dorsey’s 14 BTC donation, roughly worth $250,000.
Jack Dorsey, the former CEO of Twitter, has made a major announcement on January 31 – the release of the decentralized social network, Nostr, on Apple and Google app stores. The app is available for iOS users via its client, Damus, and for Android users through Amethyst.
Nostr, which stands for ‘Notes and Other Stuff Transmitted by Relays’, is an alternative to centralized social networks, including Twitter, which have been accused of morphing into government machinery and used to violate privacy and other rights. This includes reports of censorship and political suppression in the United States, as detailed in “Twitter Files.” Twitter Files are a set of internal documents from Twitter, the social media company. They were declassified and released to the public in December 2022 by Elon Musk and journalists, including Matt Taibbi and Bari Weiss, after Elon Musk took over Twitter in late October 2022 after a $44 billion deal.
The app is funded by Jack Dorsey’s 14 BTC donation, roughly worth $250,000. The donation was made in late 2022 to fund the development of the alternative social media platform, Nostr, which promises decentralization and control of data and accounts. Dorsey is a well-known Bitcoin advocate and believes that the cryptocurrency will become the world’s single currency. He has also invested in Lightning Labs, a company that develops technology to help Bitcoin users to “instantly and securely send money to anyone in the world,” according to its website.
Nostr is a welcome development for those who are looking for an alternative to the centralised social media platforms. The app promises to be a secure, private and censorship-resistant platform that respects its users’ rights and prevents misuse of data. It is also set to be a great place for Bitcoin users as the app is designed to be cryptocurrency-friendly.
The release of Nostr on Apple and Google app stores is a big step forward in the decentralization of social media. It is a sign that decentralization is becoming increasingly popular and that companies are taking notice. It is also a great example of the power of cryptocurrency to fund and support innovative projects. With its promise of freedom and security, Nostr could become a game-changer for the social media industry.
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Florian Feidenfelder is a seasoned cryptocurrency trader and technical analyst with over 10 years of hands-on experience analyzing and investing in digital asset markets. After obtaining his bachelor's degree in Finance from the London School of Economics, he worked for major investment banks like JP Morgan, helping build trading systems and risk models for blockchain assets.
Florian later founded Crypto Insights, a leading research firm providing actionable intelligence on crypto investments to hedge funds and family offices worldwide. He is the author of the bestseller "Mastering Bitcoin Trading" and has been featured in prominent publications like the Wall Street Journal, Bloomberg, and Barron's for his insights on blockchain technologies.
With extensive knowledge spanning the early days of Bitcoin to today's explosive DeFi landscape, Florian lends his real-world expertise to guide both new entrants and seasoned professionals in capitalizing on the wealth-creating potential of crypto trading while effectively managing its inherent volatility risks.