what's BitClout?

BitClout is a proof-of-work blockchain designed specifically for running a decentralized social media platform. Users create profiles that each have an associated creator coin, which can be bought and sold by others to speculate on the creator's future influence. The platform's native cryptocurrency, BitClout, has a fixed supply of approximately 10.8 million coins and is acquired through Bitcoin atomic swaps directly in the app. Launched out of beta in March 2021, BitClout pre-seeded profiles for top Twitter influencers to bootstrap network effects, enabling immediate trading of their coins. It attracted significant VC investment and aimed to replace ad-driven models with token-based creator monetization, though it faced backlash for unauthorized profile creation and initial one-way liquidity.

BitClout founder's SEC civil fraud case discontinued.