Cryptocurrency NewsThreads: The New Home for the Crypto Community?

Threads: The New Home for the Crypto Community?

Meta has announced its upcoming launch of Threads, a new competitor to Twitter. The release is scheduled for July 6, shortly after Twitter’s recent issue with limiting the number of posts users can read each day.

Threads, closely connected to the popular photo and video-sharing platform Instagram, is anticipated to become available on Thursday, as indicated by a countdown site launched by Meta. Additionally, the app has already appeared for pre-order on Apple’s App Store, indicating its expected release date of July 6.

Despite its seemingly opportune timing, Threads, the new app from Meta, has received relatively little attention, particularly within Twitter’s passionate cryptocurrency community. Users have expressed concerns about potential data mining and privacy issues, as well as doubts about the app’s longevity as a standalone platform.

Tiffany Fong, a prominent figure within Crypto Twitter with a substantial following of 66,600 users, admitted to being unaware of Threads until now. In her conversation with Cointelegraph, she stated, “I have no idea about the Meta alternative.” It is worth noting that Fong maintains an active Instagram account with 10,400 followers.

Threads, Meta’s anticipated launch, is set to debut shortly after Twitter’s recent rate limit issue, which has placed a temporary constraint on the number of posts users can view daily.

Unlike starting from scratch, Threads will enable users to transfer their Instagram followers and following lists to the new platform.

Earlier this year, reports indicated that Threads, as a standalone app, will support ActivityPub, the decentralized social networking protocol utilized by Mastodon, a rival to Twitter.

Meanwhile, Mastodon, a decentralized alternative to Twitter, has experienced a surge in activity and an influx of active users following Twitter’s implementation of reading restrictions.

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