Bitclout is a popular network for those who are interested in cryptocurrencies. If you know Bitcoin, you must also have heard about Bitclout. So what is Bitclout? And how to get into it? Let’s figure out in this article.
BitClout will be a huge social network in the future
What is Bitclout?
Bitclout is a crypto social network where you can buy and sell tokens based on a person’s reputation. Similar to Bitcoin, Bitclout is built as an open-source project with just coins and code.
This network has its own cryptocurrency, which is also called Bitclout. You can use it to buy creator coins, which are available for every profile on the platform. Each profile has its own coin for buying and selling. As long as you have a profile on Bitclout, you have a creator coin.
The simple theory is that the price of the coin is high when people demand to buy it. However, if people just want to sell it, it’s price decreases. Bitclout allows you to buy other people’s coins by navigating to their profiles and hitting “Buy”.
To find someone’s profile, you can either visit the creator coin leaderboard or search their names. There are 15,000 profiles of influencers from Twitter available on Bitclout. No matter if these people have joined the platform or not, you can still buy and sell their creator coins.
If they haven’t, there will be a clock icon next to their names. When they want to claim their profile, they just need to navigate to the profile and hit a button to Tweet their BitClout public key.
What can these coins be used for?
You know what is Bitclout now, so what about creator coins? What can you use them for?
Interact with the creator
Once you hold a specific amount of coins of a creator, you can comment on their posts or interact with their contents. So if you want to interact with your favourite creator, you must buy their coin.
These coins help creators avoid getting spam in their message inbox on social media. If you want to be the first person who can message them on Bitclout, you must hold the largest amount of their coin. The creators can also set a certain amount of coin must be paid in order for the message to enter their inbox.
This is quite similar to the advantage that you get for sending messages. With an amount of a creator’s coin, you will be able to get access to their special content. Otherwise, you have to pay a monthly subscription with these coins to get premium content.
Distributions and engagement
The creator coins can be used to distribute scarce resources to the largest holders of the coins. This is another way for creators to engage with their fans using their coins.
As cryptocurrencies have taken the world recently, it’s time to learn more about things that are associated with it. And Bitclout is one of them. What is Bitclout? This article has answered your question. Now it’s your decision to get to know more about it before it hugely affects social media.