As a seasoned analyst with over two decades of experience in the tech industry, I find the acquisition of Llama by River to be a strategic move that underscores the growing momentum towards decentralized platforms. Having witnessed the evolution of messaging apps from simple text services to complex, multifunctional tools, I can attest to the potential of River’s approach to transform the landscape further.
The on-chain, encrypted messaging system known as River recently purchased Llama, a smart contract platform backed by the Founders Fund, which specializes in decentralized governance.
The takeover will strengthen River’s management over its entire ecosystem, as the protocol will incorporate Llama’s open-source smart contract technology seamlessly into its multiple systems. (Paraphrased)
Based on an article outlining the details of the transaction, utilizing Llama provides River’s associates, such as node operators and property managers, with integrated tools that enhance decision-making processes (governance).
In other words, operators of nodes or space managers are now able to propose ideas about changes within the protocol, which undergo a secure and transparent voting process.
Essentially, this purchase empowers each community to effortlessly establish their very own, fully decentralized autonomous organization (DAO) on the blockchain, complete with a treasury system. Within this structure, participants can deliberate and vote on how funds are distributed and how to manage their specific community. River expressed this in his blog post.
In March 2024, a new river emerged, presenting a protocol designed to revolutionize the creation of messaging applications. This platform, functioning as a layer-2 blockchain, is compatible with the Ethereum Virtual Machine and smart contracts.
On Base platform, River’s smart contracts enable the developers of the protocol’s spaces to manage functionalities like pricing and entrance permissions.
Meanwhile, Llama enables protocols to utilize its governance and access control system for multiple governance purposes. Among these objectives are the management of smart contracts, treasury administration, adjustment of protocol settings, and activation of emergency features.
In November 2023, Llama successfully gathered $6 million during a seed funding round, with the lead being taken by venture capitalists at Founders Fund and Electric Capital.
River aims to carve out a niche in the chat app industry, which is valued at more than $200 billion, as per estimates. As stated by Ben Rubin, the creator of the Towns platform on River, there’s a vast opportunity for “personal, self-owned, and revenue-generating group conversations.
Currently, WhatsApp, Facebook Messenger, Telegram, WeChat, and Discord are leading the way in the realm of messaging applications. However, experts predict that a decentralized approach will shape the future.
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2024-11-01 22:29