Farcaster’s Daily Users Surge 400% Amid Frame Frenzy

Farcaster promotes itself as “sufficiently decentralized,” and users can perform tasks including minting NFTs without leaving the app.

Following the launch of Frames on its social media application Warpcast, the number of daily active users on the Farcaster protocol, a decentralized network for social media applications, has skyrocketed by an astounding 400% over the past week.

According to the statistics provided by Dune Analytics, the number of daily active users registered on the Farcaster network increased from roughly 5,000 on January 28 to over 24,700 by February 3.

The 27th of January saw the addition of frames to Warpcast. Experts attribute the increase in new users to the growing interest in Frames, a new invention that allows users to interact with other connections and programs within the Warpcast app.

On February 3, the number of new daily “casts” surged to over two million, marking a remarkable growth of 100% compared to the approximately 200,000 recorded the previous week on January 28.

Without having to sign a transaction or leave the app itself, users can mint nonfungible tokens (NFTs), perform transactions, claim tokens, read external blog entries and take surveys using frames. Farcaster is a social network that promotes itself as “sufficiently decentralized.”

Dan Romero, who had previously worked as a programmer for Coinbase and Varun Srinivasan established it in 2020. Despite the frequent confusion between the two concepts, Warpcast is an application or client for social media that Dan Romero and Varun Srinivasan created on top of the Farcaster network.

Romero stated in a post published on X on January 30th that transactions done via a frame carry no wallet drain risk. Frames are powered by the EdDSA authentication scheme that Farcaster uses.

The surge in activity on the Farcaster network on the other hand caused Warpcast to experience a period of “degraded activity” on February 4 as stated in a post on X by Dan Romero, the creator of Farcaster Entertainment.

In contrast to other decentralized social media platforms such as Friend.tech and DeSo, using Warpcast does not necessitate a steady stream of transactions or purchases to make use of the app’s more fundamental capabilities.

However, users are strongly encouraged to link an Ethereum wallet in order to experience the full range of services that Warpcast offers. These features include the ability to interact with frames, mint non-fungible tokens (NFTs), and claim airdrops.

It is at a time when other decentralized social media sites such as Friend.tech, are experiencing a decrease in activity that Farcaster is experiencing its tremendous development.

On the other hand, daily transactions on the platform have dropped by more than 97% since reaching all-time highs in August. However, Friend.tech was the dominant player in the decentralized social media ecosystem in 2023.