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Issue Time
2022-06-17
Platform pertained to
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Current price
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Market Cap
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Volume of Transaction
24h
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Volume of Transaction
7d
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Change
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WikiBit has marked the token as air coin project for we have received overwhelming complaints that this token is a Ponzi Scheme. Please be aware of the risk!
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Decentralized Social is a revolutionary concept that leverages blockchain technology to transform the way we interact online. At its core, Decentralized Social aims to create an open, transparent, and censorship-resistant ecosystem where users have full control over their data and content .
The traditional social media landscape is dominated by centralized platforms that control user data and often face issues related to privacy, security, and censorship. Decentralized social networks, on the other hand, are built on blockchain, providing a peer-to-peer network that is resistant to failures and outages, ensuring uninterrupted service .
One of the key features of Decentralized Social is the use of native tokens that power monetization in the absence of advertising revenue. Users can utilize these tokens to access certain features, make in-app purchases, or support their favorite content creators . This innovative approach aligns the interests of users and platform creators, eliminating the middleman and allowing content creators to have direct ownership over their content .
Decentralized Social platforms also prioritize user privacy and anonymity. For instance, individuals can sign in using an Ethereum Name Service (ENS) profile or wallet without sharing personally identifiable information (PII), such as names or email addresses .
Examples of Decentralized Social networks include Mirror, a web3-enabled writing platform that allows users to read and write for free by connecting their wallets, and Minds, a decentralized social network that functions similarly to Facebook but uses its native ERC-20 token $MIND for transactions and rewards .
The DeSo (Decentralized Social) Blockchain takes this concept a step further by being the first layer-1 blockchain specifically designed to decentralize social media and scale storage-heavy applications. DeSo is built to handle the unique storage and indexing requirements of social media applications, which traditional blockchains are not equipped to support .
DeSo's vision is to create an internet that is creator-led, user-owned, and open to developers worldwide. It offers a range of features, including the ability to develop using familiar programming languages, solve the cold-start problem by tapping into an open-firehose of millions of wallets, profiles, and content, and engage users with money-native primitives like NFTs, DAOs, Social Tokens, Crypto Tips, and more .
3 ratings