Farcaster acquired by Network School, plans ‘social smart contract’ rollout

Decentralized social network Farcaster has been acquired by Network School, founded by former Coinbase CTO Balaji Srinivasan, The Block reported. Terms of the deal, including the purchase price, were not disclosed.

Following the acquisition, Farcaster will transition to the Network State Protocol and introduce a “social smart contract” outlining prohibited conduct such as hate speech, fraud and stalking. Users who do not agree will be limited to read-only access on the main app, while the platform also plans to add a human verification process to reduce bot activity.

Source: Coinness