 | This article may be confusing or unclear to readers. (January 2022) |
 | |
| Development | |
|---|---|
| White paper | (archive) |
| Initial release | March 2021 |
| Code repository | https://github.com/bitclout/core |
| Source model | Open source |
| License | MIT license[1] |
| Ledger | |
| Ledger start | 18 January 2021 |
| Timestamping scheme | Proof of work |
| Block explorer | https://explorer.deso.com/ |
| Website | |
| Website | bitclout |
BitClout was an open source blockchain-based social media platform. On the platform, users could post short-form writings and photos, award money to posts they particularly like by clicking a diamond icon,[2] as well as buy and sell "creator coins" (personalized tokens whose value depends on people's reputations).[3][4] BitClout ran on a custom proof of work blockchain, and was a prototype of what can be built on DeSo (short for "Decentralized Social"). BitClout's founder and primary leader is Nader al-Naji, known pseudonymously as "Diamondhands".[2] In July 2024, al-Naji was arrested by the U.S. Securities and Exchange Commission and charged with fraud involving BitClout.[5][6][7]
Under development since 2019, BitClout's blockchain created its first block in January 2021, and BitClout itself launched publicly in March 2021. The platform launched with 15,000 "reserved" accounts - a move intended to prevent impersonation, but which backfired as some people with reserved accounts tried to actively distance themselves. Later, in September 2021, BitClout was revealed to be the flagship product of the DeSo blockchain.
- ^ "Core/License at main · deso-protocol/core". GitHub.
- ^ a b Lester, Caroline (9 June 2021). "The Dark, Democratizing Power of the Social-Media Stock Market". The New Yorker. Retrieved 12 June 2021.
- ^ Matney, Lucas (23 March 2021). "Crypto social network BitClout arrives with a bevy of high-profile investors — and skeptics – TechCrunch". TechCrunch. Archived from the original on 23 March 2021. Retrieved 12 June 2021.
- ^ Girling, William (14 April 2021). "BitClout creates the first 'social media stock market' | Financial Services (FinServ)". FinTech Magazine. Retrieved 12 June 2021.
- ^ "SEC Charges Nader Al-Naji with Fraud and Unregistered Offering of Crypto Asset Securities". U.S. Securities and Exchange Commission. 30 July 2024. Retrieved 7 August 2024.
- ^ Roberts, Jeff John (30 July 2024). "Feds arrest Princeton grad 'Diamondhands' who raised $257 million for fake crypto social media site". Fortune. Retrieved 7 August 2024.
- ^ O'Neill, Bridget (5 August 2024). "Nader Al-Naji '14 charged with fraud over crypto startup, BitClout". The Daily Princetonian. Retrieved 7 August 2024.