In previous blog articles, we’ve covered a broad view of cryptocurrency and profiled Bitcoin, Ethereum and a range of other altcoins.
👀 In this article, we’ll take a closer look at the RSS3 protocol and token, and provide information on what it is and how it works. Here is our brief guide to get you on a clearer path to understanding.
🌰 RSS3 IN A NUTSHELL
👉RSS3 is an information dissemination protocol designed to achieve open, efficient, and secure information flow in the Open Web environment. With 100+ decentralized networks’ data indexed and 1.4B+ data requests processed, RSS3 bridges the gap between Web3 and AI and beyond by providing wide coverage of decentralized data, facilitating the development of a wide range of applications such as AI, social, finance, and e-commerce.
💰The RSS3 token is designed to be the utility token for the RSS3 protocol to facilitate the free flow of decentralized information.
📜 RSS3’S HISTORY & NAME
In 2021, Joshua Meng started RSS3 with the idea of helping Web3 developers in accessing the all scattered information in the decentralized networks (the “Open Web”).
🎯 RSS3 aims to construct the Open Web by enhancing the free flow of Open Information, bridging Open Web projects to AI, socials, finance and beyond. By early 2022, the project’s white paper was released. The development team integrated numerous decentralized networks such as Ethereum, Arweave, Polygon, Binance Smart Chain, Arbitrum, Avalanche, and many more to facilitate the free flow of information from these decentralized data sources into different applications.
✍️ RSS3’s name is derived from “RSS” (Really Simple Syndication) – the first information distribution protocol to receive massive adoption. RSS was developed as a web feed that allows users and applications to access updates to websites in a standardized, computer-readable format. RSS3 co-founder, DIYgod, states that the RSS in the name is a tribute to the history of this protocol. The “3” in the RSS3 name stands for Web3.
💻 RSS3’S DECENTRALIZED INFORMATION DISTRIBUTION
RSS3 is a protocol that enables the free flow of decentralized data. It indexes data from various blockchains and decentralized sources directly, allowing easy access to Web3 information through a set of simple-to-use APIs. The standardized data format provided by RSS3 ensures that users can access a wide range of Web3 content sources without the need for complex compatibility logic.
These decentralized RSS3 network information are now accessible on various applications including Open AI’s GPT-4 via the RSS3 ChatGPT Plugin “Web3 User Activity”. The team is continuously exploring different ways, especially via AI models for consumers and developers to access the vast amount of decentralized data on the RSS3 network.
🖧 THE RSS3 NETWORK
The RSS3 Network actively indexes data from multiple blockchains and decentralized sources directly, analyze, standardize, aggregate the data, and store it locally to speed up the query. The result is a fully decentralized network that is flexible, efficient, and extensible. The RSS3 Network is formed by a group of RSS3 nodes, running consistently to aggregate data from multiple decentralized networks, both on- and off-chain. Currently, the RSS3 Network communicates with developers via the RSS3 API, providing efficient access to information on the Open Web.
In 2022, the RSS3 Network processed over 1.4 billion requests.
🌟 RSS3 KEY FEATURES
✨Free Flow of Decentralized Data: RSS3 enables users & developers to easily access data over decentralized networks.
✨Open-source: RSS3 has released open-source codes which were made available for everyone to review.
✨AI: RSS3 ChatGPT Plugin now available for all GPT-4 users to try and access data from decentralized networks.
✨Neutrality: The RSS3 protocol is 100% neutral. It shows no bias towards any particular decentralized network.
✨Inclusivity: RSS3 and its ecosystem applications aim to be inclusive by including as many decentralized networks as possible through indexing and standardization.
📊 RSS3 TOKENOMICS
The finite supply of RSS3 totals 1 billion tokens. Currently, the total supply of RSS3 in circulation is just over 407 million tokens (or 41%). The current market capitalization of RSS3 is approximately USD$39.25 million.
💲 RSS3 PRICE
When RSS3 initially launched in February 2022, its value immediately reached an all-time high price of $ USD 0.55 before succumbing to the 2022 bear market. Over the remainder of 2022 and into 2023, RSS3’s value has peaked at USD$0.29 and is currently fluctuating between USD$0.09 and USD$0.19. RSS3 Price USD Chart full history.
👉 EARNING RSS3 WITH BLOOM
📲The Bloom shopper rewards app allows you to earn RSS3 and other crypto (like Bitcoin, Ethereum, and other altcoins) with every purchase made on your Visa card 💳.
🦉 All you need to do is download the Bloom app, register an account, link your Visa card and shop anywhere using your credit or debit card.
💰 With every purchase, you will earn Bloom Coins by simply using your Visa card💳. The more you use your card, the more Bloom Coins you will earn.
🎁 Bloom Coins can be redeemed for in-app rewards and converted into RSS3.
🆓 Converting crypto on Bloom, such as RSS3, is free of charge and has no gas fees!
💎 Earn exclusive 3x Bloom Coin rewards with a Premium Membership.
The information provided on this website does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website's content as such. Bloom does not recommend that any cryptocurrency or NFTs should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.