Pi Network has just announced the launch of a Web3 social network called Fireside Forum, which uses tokens to interact with content on the platform.
With the new project, Pi Network sets the ambition to prevent spam bots and malicious information. To achieve the goal, Fireside Forum applies a reward and punishment mechanism in tokens, to encourage positive behavior and limit negative based on user reviews.
Pi Network co-founder Chengdiao Fan said:
Web3 will overcome the weaknesses or flaws of Web2, such as information overload, misinformation and internet violence. Our platform uses the built-in engine of Web3, blockchain and cryptocurrency to create a reward and punishment mechanism, thereby censoring user behavior automatically.
On Fireside Forum, users can also promote other people’s content and earn rewards when their posts become popular.
Since starting Pi Network in 2018, the founding team dreamed of building a social media platform with an enhanced user experience than Twitter, Facebook and Instagram.
So far, 45 million users have downloaded Pi Network’s app and are mining Pi for free. Please note, Pi is not yet officially listed on any exchange and is only useful in each project ecosystem.