As stated on their website, BitClout is a new type of social network that mixes speculation and social media, and it’s built from the ground up as its own custom blockchain. Its architecture is similar to Bitcoin, only it can support complex social network data like posts, profiles, follows, speculation features, and much more at significantly higher throughput and scale. Like Bitcoin, BitClout is a fully open-source project and there is no company behind it-- it’s just coins and code.
You can read more about it on their website and docs Bitclout.com
So, in simple words to explain,
It is a crypto based social media with features a lot like twitter, with an
exception of crypto aspect. You open an account you have your name as crypto coin on the bitclout blockchain.
It is a short post based platform (280 characters), post can be long by using third party apps. You can post images, gifs and embedd videos aswell.
And other things like on twitter, a tweet on twitter is clout on bitclout, retweet on twitter is reclout on bitclout.
If someone buys your coin your coin price increases, if someone sells it decreases.
An user sets Founder Rewards(FR), that is the percentage of investment that goes directly to the owner of coin.
For example,
If I open an account with name uzairk, a $uzairk coin will be made, I set FR to 10% , and you invest 10$ to buy $uzairk you will get $9 worth of $uzairk and $1 will be deposited in my bitclout wallet directly.
Bitclout ($CLOUT) is listed on Blockchain.com exchange, and it is being tracked on platforms such as coinmarket, coinbase, etc.
Suffice to say, if you'll try the platform, you'll definitely love it.
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