Ethereum Team Lead Slams Farcaster Over Bot Manipulation

Ethereum’s team lead Péter Szilágyi has criticized Farcaster for alleged bot manipulation, raising concerns about the platform’s transparency.

Ethereum‘s core developer Péter Szilágyi appears to be not a big fan of Farcaster, an open-source decentralized social network, implying the platform is filled with bot manipulation.

In a recent X thread, Szilágyi expressed skepticism about Farcaster’s ecosystem, citing instances where bots allegedly dominate user activity by circling transactions to accumulate DEGEN, an unofficial token created to boost activity in the Farcaster community.

Szilágyi alleges there’s an “insane conflict of interest” for the network developers not to fix the issue, as non-power users (those with less than 400 followers) are filtered “out by default from everyone’s feed,” adding that the current state of the project is resembling a “money and user printer.”

“IMO the biggest problem is that there’s an insane conflict of interest for the FC [Farcaster] devs to not get rid of bots. It’s a money and user printer. They just need to make them not-annoying enough to cause real users to leave.” Péter Szilágyi

As of press time, Farcaster made no public statements on the matter. Crypto.news reached out to the project and will update the article if we get any response.

This is not the first time Szilágyi has raised concerns about the network’s transparency. In February, the blockchain developer questioned Farcaster’s “organic growth” in an X post, saying his account on Farcaster rose tenfold in a matter of a few days with “0 activity.”

Founded in 2020, Farcaster is a decentralized social network similar to X but built on Optimism, a layer-2 solution for Ethereum. In late March, reports surfaced saying that Merkle Manufactory, the company behind Farcaster, was on the verge of securing a significant funding round led by Paradigm, valuing the company at around $1 billion. in July 2022, the firm secured $30 million in a round led by a16z crypto.

RECENT NEWS

Kraken's Owner Buys A Bank: The Lines Are Blurring

Payward, the parent company of the crypto exchange Kraken, has agreed to buy a European bank. It would be the first digi... Read more

Crypto Vaults: Big Money, Thin Protection

Anyone who has spent time around financial markets will recognise the pattern. A new product appears, the yields look ir... Read more

Major Players In Crypto Hacked

Crypto's Billion-Dollar Blind Spot: Inside the Bitget Heist and the Revolut Extortion Plot Read more

Circle Wins Landmark US Banking Licence

Circle Internet Group has finally secured the regulatory prize it has been chasing for more than a year, with Read more