LeoThreads is a feature on the Leofinance social media platform.
This 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 its 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 is 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 post threads 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. The new UI is found here.
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.
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.