What Is CyberConnect (CYBER)? Tokenomics & Price Prediction

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30 Jan 2024

KEY TAKEAWAYS

CyberConnect (CYBER) stands as a revolutionary Web3 social blockchain protocol designed to empower developers in the creation of decentralized social applications (dApps).
CyberConnect is meticulously crafted to establish a universal and permissionless identity system, facilitated by its CyberAccounts service.
Launched in the third quarter of 2021, CyberConnect has rapidly evolved, establishing a comprehensive infrastructure for the development of decentralized social networks. Its primary emphasis is on empowering community-owned platforms that operate in a censorship-free environment.
CyberConnect pioneers a next-generation system specifically tailored for navigating the social media terrain.
The $CYBER token functions as the indigenous token within the CyberConnect ecosystem.

1. WHAT IS CYBERCONNECT (CYBER)?

CyberConnect (CYBER) stands as a revolutionary Web3 social blockchain protocol designed to empower developers in the creation of decentralized social applications (dApps). Its primary objective is to grant users unprecedented control over their digital identity, connections, content, and interactions.

What is CyberConnect (CYBER)? | Source: Binance

The platform's vision is to transform the landscape of social media by establishing direct connections between content creators and their audiences, thereby eliminating the necessity for intermediaries. This ambitious goal is pursued through the adoption of the decentralized social (DeSoC) ethos.
DeSoC represents a social model characterized by principles of openness, fairness, and a commitment to a censorship-free environment. Under this framework, users are afforded the freedom to express their opinions without contravening the moderation principles set by the underlying platform.
The movement powered by Web3 technology seeks to liberate itself from the limitations imposed by centralized social media architectures, where privately owned entities dictate the dynamics of the social graph. In contrast to these centralized platforms, CyberConnect aims to provide an inclusive environment that avoids stifling diverse opinions, fairly compensates content creators for their data, and grants users autonomy over their social connections.

2. HOW DOES CYBERCONNECT WORK?

CyberConnect is meticulously crafted to establish a universal and permissionless identity system, facilitated by its CyberAccounts service. This innovative approach empowers users with unparalleled control over their Web3 identity within an environment that champions freedom from censorship.
A noteworthy feature of this system is the user's ability to choose personalized usernames appended with the ".cyber" suffix, eliminating the reliance on Web2 emails to initiate Web3 interactions.

How does CyberConnect work? | Source: Medium

To kickstart their journey:

Users initiate the process by creating a CyberAccount, typically manifested as a non-fungible token (NFT).
Once established, users gain access to the protocol's social graph, enabling them to post content, follow others, and cultivate a community within a decentralized setting. This entails leveraging EssenceNFT and SubscriptionNFTs to craft social profiles and capitalize on connection monetization.
Simultaneously, the CyberGraph meticulously records all on-chain activities and securely stores them off-chain. This comprehensive approach ensures a robust and transparent record of user engagement within the platform.

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3. HISTORY OF CYBERCONNECT

Launched in the third quarter of 2021, CyberConnect has rapidly evolved, establishing a comprehensive infrastructure for the development of decentralized social networks. Its primary emphasis is on empowering community-owned platforms that operate in a censorship-free environment.
A succinct overview of the key milestones in the CyberConnect blockchain network is outlined below:

2021: CyberConnect V1 was introduced, unveiling its decentralized social graph protocol. This pivotal release enabled developers to construct social applications that leveraged a shared layer of user connections and content.
2022: CyberConnect V2 emerged, expanding its Ethereum base layer to encompass the BNB Smart Chain and Polygon networks. V2 introduced a hybrid scaling model featuring enhanced smart contract functionality for greater flexibility.
2023: The deployment of CyberConnect V3 marked a significant milestone, introducing three vital tools: CyberAccount, CyberGraph, and CyberNetwork. These tools collectively focus on streamlining user onboarding processes and enhancing the overall social experience within the platform.

4. FEATURES OF CYBERCONNECT

Bitcoin and Ethereum have gained renown for their contributions to decentralized value transfer and the emergence of crypto asset markets. In contrast, CyberConnect pioneers a next-generation system specifically tailored for navigating the social media terrain. Here, we explore some of its formidable features.

Key Features of CyberConnect | Source: Techopedia

4.1. CyberAccount

The CyberAccount serves as the central registration hub within the CyberConnect protocol. This functionality streamlines the onboarding process for users transitioning from Web2 to Web3, ensuring a user-friendly experience.
Moreover, CyberAccount plays a pivotal role in generating permissionless and transferable digital collectibles, commonly referred to as NFTs. These digital assets can seamlessly traverse the Web3 social app ecosystem, offering users enhanced flexibility and accessibility.

4.2. CyberGraph

CyberGraph is influenced by the fundamental concept of social graphs. It constitutes a collection of smart contracts designed to empower users in forming connections between their CyberAccounts (social identities), their content, and their social capital or connections.
Moreover, CyberGraph plays a crucial role in guaranteeing the permanence of this data by recording it on all Ethereum Virtual Machine (EVM) compatible blockchain networks, ensuring the integrity and continuity of user interactions across various platforms.

4.3. CyberNetwork

The CyberNetwork operates as the data layer within the CyberConnect ecosystem, primarily tasked with enabling the scalable recording of on-chain data throughout the entire system.

4.4. CyberConnect Smart Contracts

Within the CyberConnect ecosystem, two key smart contracts, EssenceNFT and SubscriptionNFT, play a central role in the digitization of online identities.
EssenceNFT empowers users to possess the content of their favored creators as digital collectibles. This innovative feature strengthens the bond between users and creators who share similar perspectives, fostering a more direct and meaningful interaction. For creators, it opens avenues for establishing deeper connections with their audience.
In contrast, SubscriptionNFT is instrumental in profile creation, allowing users to amass followers, reminiscent of traditional Web2 social platforms. This NFT can be configured to offer unique subscription options such as pay-to-subscribe or hold-to-subscribe models, providing monetization opportunities for users within the platform.

5. ADVANTAGES OF CYBERCONNECT

CyberConnect distinguishes itself through a set of distinctive principles that differentiate it from other blockchain protocols. Here is a concise overview of some key principles:

Interoperable: CyberConnect introduces the concept of portable social profiles, allowing users to effortlessly transfer their social identities across diverse social and blockchain protocols.
Composable: Developers benefit from CyberConnect's DeSoc stack integration, facilitating seamless incorporation into their platforms. This integration grants access to pre-existing social graphs tailored for specific use cases.
Programmable: Developers have the flexibility to craft custom smart contracts for particular use cases, including the creation and importation of profiles and content uploads. Creators can also establish subscription-based services for their paying viewers.
Scalable: Addressing scalability challenges in traditional blockchain protocols, CyberConnect employs a hybrid scaling model. This model utilizes off-chain storage mechanisms to mitigate network congestion and enhance transaction throughput concurrently.

5. WHAT IS CYBERCONNECT TOKEN?

The $CYBER token functions as the indigenous token within the CyberConnect ecosystem. Implemented across various blockchain platforms such as Ethereum, BNB Chain, and Optimism, it serves diverse purposes:

5.1. CyberConnect Token Price

Cyber Connect Token Price | Source: Klarda

As of now, $CYBER is priced at $8.85, reflecting a decrease of 30.7% in the past week. Notably, the token has seen a surge of over 80.76% from its all-time low, as indicated by data from Klarda App.

CHECK THE REAL-TIME PRICE OF CYBER

5.2. CyberConnect Tokenomics

Token Name: CyberConnect
Ticker: CYBER
Blockchain: Ethereum, BNB Chain
Token Contract:
- Ethereum: 0x14778860e937f509e651192a90589de711fb88a9
- BNB Chain: 0x14778860e937f509e651192a90589de711fb88a9
Token Type: Utility, Governance
Total Supply: 100,000,000 CYBER
Circulating Supply: Updating…

5.3. CyberConnect Token Allocation

CYBER is allocated as follows:

Ecosystem Development: 34%. This includes:
- Developer Community: 10%
- Marketing: 10%
- Ecosystem Partners: 9%
- Early Integration Partners: 5%
Private Sale: 25.12%
Team & Advisors: 15.00%
Community Treasury: 10.88%
Community Rewards: 9%
Public Sale: 3%
Binance Launchpool: 3%

5.4. CyberConnect Token Use Cases

Governance: Holders of the token have the ability to participate in voting for protocol enhancements and can also delegate their voting power to others.
Payment for CyberID: CYBER tokens can be utilized for acquiring your distinct digital identity.
CyberAccount Gas Token: CYBER serves as a payment method for covering transaction gas fees within CyberAccount across diverse chains.

6. HOW TO BUY CYBER TOKEN?

You can purchase and hold CYBER tokens through:

Centralized exchanges: Lbank, Kucoin, BingX, Binance, Gate.io
Decentralized exchanges: Uniswap, LFW.Fi
Or trade CYBER as a derivative asset.

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Where to buy CYBER Token? | Source: Klarda

WHERE TO BUY CYBER TOKEN?

7. IS CYBER TOKEN A GOOD INVESTMENT?

Determining whether CYBER token is a good investment involves considering various factors, and it's essential to conduct thorough research before making any investment decisions. Here are some aspects to consider:

CYBER rank by Klarda Indexes

Klarda Indexes currently indicate that CYBER may not be deemed an attractive investment. This evaluation could be influenced by various factors such as project fundamentals, market trends, tokenomics, and overall project performance.
It's crucial to note that all investments carry risks, and past performance is not indicative of future results. Consulting with financial advisors and doing comprehensive research can help you make more informed decisions based on your financial goals and risk tolerance.

UPDATE THE LATEST CYBERCONNECT TOKEN NEWS

8. CYBERCONNECT PRICE PREDICTION

Utilizing historical price trends of CyberConnect and considering BTC halving cycles, the projected yearly low for CyberConnect in 2025 is anticipated to be around $8.20. Conversely, the optimistic prediction suggests that CyberConnect's price could potentially surge to as high as $13.75 in the coming year. Extending this analysis, the following are the annual CyberConnect price predictions up until 2030 based on the same criteria.