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3 Decentralized Blockchain-Based Social Media Projects by softprodigy
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Step 1: 3 Decentralized Blockchain-Based Social Media Projects
3 Decentralized Blockchain-Based Social Media Projects: Page 1
The new social networks try to address the disadvantages of the centralized approach that has characterized them until now, trying to create a decentralized system around privacy and security, in addition to o ering bene ts for the participating public. One of the objectives is to avoid the repetition of situations such as those that have arisen with traditional social networks, in which the information can be manipulated according to political-commercial interests, while the data provided by the users is converted for the owners of the company into a commercial product.
Devised in 2016 by Ned Scott and Dan Larimer, creator of Bitshares, Steemit is a platform for decentralized reward that combines content creation, interaction between users and the use of a cryptocurrency called Steem. Steem is described on its website as a Smart Media Token (SMT), which can also be exchanged in homes of exchange like Poloniex, Bittrex and OpenLedger.
Le t ' s lo o k a t s o m e o f t he s e pro je ct s :
In this way, rewards (steem) work as points that can be exchanged for other tokens , providing purchasing power to access various services related to the network. Anyone, worldwide, can access the platform
¡ St e e m it and receive payments for its content. ¡ S a pie n Created in 2017 by Robert Giometti and Ankit Bhatia (current CEO), on its website it is described as a Web 3.0 social news platform that o ers users control of their data, a reward for content creators and a ght against fake news. Built on the Ethereum blockchain , the network presents itself as an informative alternative to Facebook and Google. The social network works through the publication of content that is rewarded with SPN, a native token compatible with the ERC20 protocol. It o ers the option of accessing public or private browsing, personalizing information, sharing, adding friends, and using encrypted chats to protect privacy, along with a subscription system. The identity of the users is stored on the blockchain to guarantee the security and veri cation of the identity.
With the use of this token, the network seeks to monetize the content and form a community around the platform. Its operation resembles the Reddit social network, although in this case, all content is registered on the blockchain.
Sola virtual currency that has no monetary value until someone endorses or comments on the content to make it the SOL token. The idea is to share photos, thoughts, news and ideas with people from all over the world, without being limited by a list of followers. At the same time, advertising revenue, user payments and associations are generated that are divided with users. A ne w g e ne ra t io n o f bo o m ing s o cia l ne t w o rks Although the scope of this new generation of social networks does not reach the levels enjoyed today by networks like Facebook and Twitter, among many others, these are nascent projects, mostly derived from initial coin o erings (ICO), which are increasing in number as new technologies advance and gain greater acceptance. Moreover, the demand of Blockchain social media writing services is also increasing day by day.
¡ Alo ne Sola's CEO and founder is Ilya Zudin, who has worked on the idea since 2017 alongside Pavel Panov. On its website, the network de nes itself as a hybrid of media and social networks governed jointly with users. Use an app called Action Points , an internal
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