30s Summary

Ethereum developer Consensys is partnering with Project Liberty to create a decentralized social media platform, utilizing technology like the Linea network and MetaMask. Billionaire Frank McCourt’s Project Liberty aims to reduce reliance on major social media companies and align with Web3 concepts. Having invested $500 million over five years, Project Liberty is now ready to roll out globally. Its goal is to increase interoperability in social media.

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Project Liberty is collaborating with Ethereum developer Consensys to develop a decentralized social media platform. Billionaire Frank McCourt, the founder of Project Liberty, describes the venture as ‘meeting the zeitgeist’. To make the Frequency blockchain of Project Liberty compatible with Ethereum’s ecosystem, it will adopt Consensys’ technology. This includes the Linea layer-2 network that utilizes ‘zero-knowledge’ privacy technology, and the self-custody wallet MetaMask with 30 million active users each month.

The partnership is expected to spur interest in Frequency and its Decentralized Social Networking Protocol (DSNP) and generate fee income for Linea. Frequency is already one of the largest parachains in the Polkadot environment, and aims to include more blockchains to expand its user base.

Project Liberty’s aim is to reduce dependence on big social media companies like Elon Musk’s X (formerly Twitter) and Meta’s Facebook. They want their users to have control over their data, and build an internet free of surveillance capitalism and walled gardens, aligning itself with Web3 concepts.

Five years in the making, with around $500 million investment, Project Liberty is now ready for a wide-scale roll-out. The project believes interoperability is critical to its success and predicts that everyone will find it odd in a decade’s time that Facebook users could only communicate with other Facebook users. The Project Liberty Summit on the Future of the Internet will happen in Washington, D.C. on Nov. 21-22.