Twitter founder Jack Dorsey’s Bluesky is building a new social network which will allow users to move their accounts between providers.

Renamed Authenticated Transfer Protocol – or AT Protocol for short – it is described as a federated social network with integrated decentralised technologies.

“It’s a way for servers to communicate with each other — like email,” the company said. “Instead of one site running the network, you can have many sites. It means you get a choice of provider, and individuals and businesses can self-host if they want.

“A person’s online identity should not be owned by corporations with no accountability to their users. With the AT Protocol, you can move your account from one provider to another without losing any of your data or social graph.”

Another potential benefit to the new system would be the decreased power of social network algorithms.

“Algorithms dictate what we see and who we can reach. We must have control over our algorithms if we’re going to trust in our online spaces,” said Bluesky. “The AT Protocol includes an open algorithms mode so users have more control over their experience.”

The company, which is building a Bluesky app as the central hub for users,  said fast loading times will be key to success and that it will begin to share more details of its plans going forward.

“The World-Wide Web wouldn’t have been much fun if it was created without a browser, and the same is true of the AT Protocol. So we’re also building a social app called Bluesky,” it said.

Bluesky has opened a private beta waitlist.

In Crypto: UK’s Law Commission to review international crypto laws

Cryptocurrency shorts

Carolyn Wilkins, who sits on the Bank of England Financial Policy Committee, told an audience at the UCL Centre for Blockchain Technologies that the lack of regulation and good governance in the crypto sector is an existential threat to businesses. 

Celestia Foundation has raised $55 million funding to build infrastructure allowing anyone with technical expertise to deploy their own blockchain at minimal expense. The round was led by Bain Capital Crypto, Polychain Capital, Placeholder, Galaxy, Delphi Digital, Blockchain Capital, NFX, Protocol Labs, Figment, Maven 11, Spartan Group, FTX Ventures, Jump Crypto and angel investors Balaji Srinivasan, Eric Wall and Jutta Steiner.

Users of Reddit have opened 2.5m crypto wallets since it launched an NFT marketplace in July, taking the total to 3m.

Relai has partnered with to allow users to buy Bitcoin via VISA, Mastercard and Apple Pay in real time – through a wallet owned entirely by the user.

Research from has found that only 9% of UK investors were planning to ‘buy the dip’ in September, compared with 18% who planned to sell or reduce their holdings. This indicates that British investors have been spooked by the recent turbulence in the stock market.

£40.4m funding to see British rocket company blast off

Crypto prices

The overall market cap of the 21,400 coins is at $921 billion at the time of writing (7am UK),  a 0.6% decrease in the last 24 hours.

For round-ups of recent cryptocurrency news developments, click here.

For valuations of the top 100 coins by market cap in US dollars, plus 24-hour price change, see below.