What Is Port3 Network (PORT3)? Everything You Need To Know

Social media has permeated every aspect of our life. But the majority of it is still quite centralized, and Web 2.0 tech giants like Facebook continue to hold the reins of power.

Because of this, Web 2.0 social data is continuously battling a number of issues, including content management, privacy invasion, and data leaks. Although web3 offers a solution to these issues by decentralizing data, the majority of applications in this market are still quite tiny.

Go to the Port 3 Network. By serving as a conduit to move social data from Web 2.0 to Web 3, Port3 Network, a blockchain-based data oracle, hopes to completely transform the social media sector. Let’s examine Port 3 in more detail.

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Key Takeaways:

• In order to give users more privacy over their web3 identities and still allow them to receive rewards, Port3 aims to establish a single social data layer.
• Its native token, PORT3, acts as a governance token for the Port3 platform and enables a number of operations, including payments to access functionalities.
• Over the course of three seasons, Port3 users will get an airdrop of 7% of the whole PORT3 supply as a reward for utilizing the platform.

What Is Port3 Network (PORT3)?

By developing a robust social data layer to meet the varied requirements of web3 users, the blockchain network Port3 aims to aggregate and standardize data from both on- and off-chain sources. To put it simply, Port3’s mission is to become the go-to web3 social data oracle for users, protecting their privacy, identity, and data when they’re online.

The complex ecological architecture of Port3 is a web of interdependent products that aims to use blockchain technology to disrupt the social media sector. To better onboard and support the web3 community, Port3 is focusing on community profiling. They have over 4.5 million users and more than 5,000 partnerships.

Port3 has attracted a varied range of tech players with its analytics dashboard, community marketing push, and bot services. It has also received grants from Aptos, Mask Network, and Binance Labs.

In the Port3 ecosystem, the PORT3 token powers numerous parts and governs network activities.

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How Does Port3 Work?

The infrastructure of Port3 Network operates in stages to address the issue of internet data centralization:

• The initial stage of the platform is data acquisition, which includes gathering information from both on-chain and off-chain sources. If the network has access to a wealth of data, it will be able to handle more people and their needs.
• Aggregation of Data—After data collection, there is a period of rigorous processing and standardization during which the social data is compressed and given analyzeable indications and identification tags.

• The data can be used by different members of the network’s community after it has been standardized. Content production, community management, and targeted advertising are a few data applications.

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What Is PORT3 Token?

PORT3 is the ecosystem’s utility and governance token. All platform token holders have a voice in how Port3 develops because it is a native governance token. Incentives provided by the token, according to the project team, will help the network build a strong and active community—something that is vital to the platform’s success.

Additional PORT3 use cases include:

• Investing to generate dividends
• Payment tokens and gas for the L2 nodes in the network
• Credits paid for the BQL feature of the network
• Acquiring credits for SoQuest use
• Utilizing the social data layer as payment

 Tokenomics

The Ethereum network powers PORT3, which has a one billion token supply that is divided as follows:

• Ecosystem: 36%, which is utilized to reward platform users and developers
• Treasury: 10% for upcoming growth
• Team: 20%, with a one-year cliff phase and a three-year release schedule
• 21% went through a private sale, with 2.5% of that amount being unlocked at the Token Generation Event (TGE). The remaining 21% had a 24-month linear vesting term.
• One quarter was unlocked at the TGE, and the remaining 7% will be released every day for ten months. The airdrops will occur throughout three seasons (3%, 3%, and 1%, respectively).
• Marketing: 5% across all activities
• Public sale: 1%

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Port3 Network Price Prediction

With a price of $0.118 as of January 15, 2024, PORT3 tokens have fallen 19.66% from their all-time high (ATH) of $0.1475 on January 9, 2024, and have risen 43.38% from their all-time low (ATL) of $0.1043 on January 14, 2024.

Prediction systems for crypto token prices are cautiously optimistic about Port3’s future value. In 2025, PORT3’s price might reach a maximum of $0.912, and by 2030, it could have dropped to a maximum of $0.775 according to CoinDataFlow. But CoinArbitrageBot predicts a gradual increase in PORT3 price to $0.287 in 2025 and $0.676 in 2029.

You should conduct your own research before investing in PORT3 or any other altcoins; the info provided above is not financial advice.

Conclusion

As more and more entities join the space, there has been a global movement from Web 2.0 to web3. We can anticipate the continued growth of social media platforms like Port3’s decentralized social data layer, which provides users with better data organization and privacy features for managing their online identities.

The use of platforms like Port3 Network to launch and operate products is going to be more common as the web3 wave gains considerable steam. Providing open data layer services and decentralizing social data—a space dominated by Web 2.0 conglomerates—is an area where Port3 is well-positioned to become a leader.

In addition, the Port3 project has a lot planned for 2024, including the release of an L2 testnet, an improved version of BQL, additional airdrops, and the debut of staking. Participation in such events is likely to hasten the project’s ascent in the bitcoin industry.

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