Balaji’s ‘social media Singapore’ launches with sweeping bans

Balaji Srinivasan’s Network School has taken control of Farcaster, announcing the acquisition and a rebrand of the social app as the Network State Protocol. The shift immediately triggered complaints from parts of the Farcaster community after some users reported their accounts were restricted to “read-only,” allegedly due to violations of the new reference app’s code. According to Network School, the Network State Protocol aims to create a “positive-sum” community with enforceable standards—backed by what it calls “social smart contracts.” But critics argue that retroactively restricting accounts for past posts conflicts with the ethos of decentralized social.

Source: Crypto Breaking News