Ethereum’s Péter Szilágyi Questions Farcaster’s Transparency Amid Bot Manipulation Allegations
Péter Szilágyi, a core developer for Ethereum, has voiced skepticism regarding Farcaster, an open-source decentralized social network, citing concerns over suspected bot manipulation within its ecosystem.
In a recent discussion thread, Szilágyi expressed doubts about the integrity of Farcaster, pointing to instances where bots purportedly dominate user activity by engaging in transactions to accrue DEGEN, an unofficial token aimed at stimulating engagement within the Farcaster community.
Szilágyi highlighted what he perceives as a significant conflict of interest for Farcaster developers, suggesting that their reluctance to address the issue stems from the platform’s profitability, referring to it as a “money and user printer.” He emphasized the need for measures to mitigate bot interference, expressing concerns that legitimate users may be deterred from participating if the problem persists.
“Farcaster devs have a significant conflict of interest in not tackling the bot issue. It’s a lucrative venture for them. They simply need to minimize bot disruptions to retain genuine users,” Szilágyi remarked.
As of the time of writing, Farcaster has not issued any public statements regarding these allegations. Crypto.news has reached out to the project for comment and will provide updates accordingly.
This isn’t the first instance where Szilágyi has questioned the transparency of the Farcaster network. In a previous post in February, he raised doubts about the platform’s purported “organic growth,” citing a tenfold increase in his Farcaster account activity within a short span, despite minimal engagement.
Founded in 2020, Farcaster operates as a decentralized social network akin to [X], leveraging Optimism, a layer-2 solution for Ethereum. Recent reports indicated that Merkle Manufactory, the company behind Farcaster, is on the cusp of finalizing a substantial funding round led by Paradigm, valuing the company at approximately $1 billion. In July 2022, the firm secured $30 million in funding, spearheaded by a16z crypto.
