LeoThreads is a feature on the Leofinance social media platform.
It is enables microblogging to occur on the blockchain. Leofinance traditionally was designed around long form content. Content creators were able to upload their posts relating to the pertinent topics.
LeoThreads is now a part of the applications which incorporates short form ideas to be expressed.
It is similar to what Twitter offers yet this is entering Web 3.0. All log ins are tied to one's Hive account, meaning there is true account ownership.
With LeoThreads, there is also the ability to be rewarded with cryptocurrency. Upvotes can result in payouts occurring in LEO, HIVE, or HBD.
The LeoThread limit is 244 characters. Links and photos can be added to enhance the content.
The text data is all housed on the Hive network, using the open, decentralized database.
This can be thought of as "Twitter on the Blockchain".
LeoThreads seeks to give individuals more social media features through which to express their ideas about:
While this was the primary focus of the community, general purpose content is also applicable on LeoThreads. Web 3.0 provides access since it is permissionless. On Hive, to express one's thoughts, only the private key to the account and enough resource credits to post are required. Thus, people can thread relating to a wide range of topics including sports, health, memes, and entertainment.
In December 2022, a new user interface went into alpha testing. This is going to make microblogging as a primary focus of the application. The other aspects of the platform will still be in place, they just will not be so prominent.
LeoThreads is being used to reach a target of 10x growth over the next 12 months. The project team set a target of 5,000 daily users by the end of 2023.
Introduction To Micro-Earning
We could be seeing a transaction that is going to benefit content creators. Due to the ability to process micropayments, the Hive blockchain is bringing forth micro-earning. This is a concept where people earn small amounts of money are rewards on activities, yet can do a lot of them throughout the day.
For example, each individual thread might not earn much of a reward. However, the ability to leave dozens of threads each day is possible. Thus, the totality of what ends up in one's wallet could rival that of a long-form blog post.
With the LEO token, there is the ability to have fractions of a cent as a reward. Unlike the $HIVE coin, there is no dust level for LEO. This means that .001 LEO can be distributed. This is the epitome of a micropayment.
New User Interface
The new Leofinance front end that went into closed testing in December 2022 entered wide alpha on February 14, 2023. It is a clean sheet design that is part of a longer road map.
Leofinance is looking to implement the "Everything Application" idea. The alpha version does allow for long-form content creation, combining what is traditional with the platform with the new.
This is the reverse of Twitter which has 15 years of microblogging yet is now in closed testing of long form content.
On May 1, 2023, the new user interface went into beta. It completely replaced the old application, making microblogging the primary focus on the main page.
Decentralized Polling
Much like Twitter, LeoThreads offers the ability to create polls. The difference is that this is offering decentralized polling, i.e. voting.
When a user introduces a poll into the user interface, others are able to vote on it. The different options are lists with the system counting the votes. Here again, we see no difference.
Where the change enters is the fact that each vote is registered and applied to the blockchain via custom JSON. This means that all votes are censorship resistant and the voting fully transparent.
This can change governance models as all voting can occur in the open, eliminating the ability to rig the outcomes.
An upcoming feature that will be added to polls is the idea that voting weights and access can be established based upon the amount of LEO being held. Eventually, this concept will apply to other tokens.
It will allow for different groups to have polls and be able to restrict access. For example, if there is a poll of electing people, obviously the goal is to only have the member of that group vote. This is a way to allow that.
LeoAds
This is an important feature of the Leo community in general. LeoThreads really puts it on steroids.
LeoAds is an ad revenue model that takes the money received from advertisers and used it to buy LEO off the open market. This is then fed back to the holders of Leo Power.
Here we see the formation of a true Web 3.0 application. Unlike traditional social media, or Web 2.0, where the users provide the value through the data yet do not get any of the financial rewards, Leo is feeding all the advertising revenue to those holding the token.
While people are free to purchase it on the market, like any other digital asset, LeoThreads provides a way for people to be rewarded for their activity, thus pulling the token into their wallets.
If this is staked, it will then generate a return over time. Any growth rates associated with the platform should result in more revenues, pushing the price of the token higher.
Threadcast
One of the novel use cases for LeoThreads is the threadcast. This is a designed meant to be used in conjunction with some type of broadcast or event.
For example, a threadcast can be done for a sporting even, awards show, AMA, or podcast. Anywhere people (fans) come together.
This is a thread that is set up and all comment underneath. It is similar to a chat on YouTube. During the event, people can engage regarding what is taking place.
There is a different twist on this. Not only does this open up two-way communication with the broadcast team, but it can also incorporate the Web 3.0 idea of rewards. Those on-air are able to reward the followers through upvotes for their comments in the threadcast. Under the chat with YouTube, as an example, people can gift the podcaster without a way for it to be reciprocated.
The threadcast changes that.
Threadstorm
A threadstorm is similar to a threadcast in terms of the dynamics. It is nothing more than a single thread placed (top line) with all the comments/replies taking place below.
The difference is this is meant to convey ideas longer than the allotted characters. Perhaps an idea is more expansive than that, requiring more space. A threadstorm allows the threader to keep adding replies, ensuing the ideas all stay together. Readers can simply open up the thread and see the comments which are actually an extension of the main idea.
It is interactive since other users can step in and comment. This creates engagement.
This can be used to generate interest in another article that is posted elsewhere. The user could effectively create a TL:DR summarizing the article with a link at the end. It is a way to expand the reach while marketing ones content.