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Decentralized Social

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Discover Decentralized Social's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Decentralized Social?

Decentralized Social (DeSo) is a layer-1 blockchain designed specifically for building decentralized social media applications. It aims to empower users and creators by giving them ownership of their data, content, and interactions. DeSo addresses the limitations of traditional blockchain networks in handling complex social media interactions, ensuring scalability, security, and innovation. It features decentralized identity, end-to-end encrypted messaging, and monetization options like NFTs, DAOs, and social tokens. DeSo is optimized for storage-heavy applications and allows users to create one profile that can be used across multiple apps, ensuring a seamless and decentralized social media experience.

How is Decentralized Social used?

Decentralized Social (DESO) is a blockchain-based social media platform that empowers users to control their data and earn rewards. Here's how it is used:

  1. User Profiles and Content: Users create profiles and share content, maintaining ownership and control over their data. This is in contrast to traditional social media platforms where centralised entities control user data and content.

  2. Social Tokens: Users can mint and distribute their own unique social tokens, representing their personal brand or community. These tokens can be purchased and traded, allowing creators to monetize their content.

  3. Decentralized Marketplace: DESO provides a marketplace where users can buy and sell social tokens and NFTs. This fosters an ecosystem of value exchange within the platform.

  1. Monetization: Social tokens can unlock special features, privileges, or exclusive content, incentivising users to engage and participate actively. Additionally, creators can earn through NFTs, DAOs, Crypto Tips, and other money-native primitives.

  2. Interoperability: Blockchain developers can create apps on the DESO blockchain, which enjoy a high degree of interoperability. This allows for a network of social media apps rather than a single platform.

  3. Censorship-Resistance: Content is stored on the DeSo blockchain, ensuring that users own their content and can prevent censorship.

  1. Decentralized Identity: Users' profiles, followers, content, and social graphs are portable across hundreds of apps throughout the DeSo ecosystem.

  2. End-to-End Encryption: Users can use end-to-end encryption to prevent any middle-man from seeing their content.

Overall, Decentralized Social (DESO) offers a unique ecosystem where users are in control of their data and can monetize their content through various crypto-native tools.

How do I store Decentralized Social?

To store Decentralized Social (DESO) tokens, you have several options:

  1. Exchanges' Wallets: You can store your DESO tokens on exchanges' wallets, such as Binance Wallet. This is a convenient option, but keep in mind that exchanges' wallets are "hot wallets," meaning they are always online and potentially vulnerable to hacks.

  2. Crypto Wallets: You can store your DESO tokens on crypto wallets like Trust Wallet. These wallets offer more security than exchanges' wallets but are still online and thus considered "hot wallets".

  3. Cold Wallets: For maximum security, you can use cold wallets, which are offline and not connected to the internet. There are two types of cold wallets:

  • Paper Wallets: You can generate a public and private key offline and print them on a piece of paper. This method is highly secure but requires manual management.
  • Hardware Wallets: These are physical devices that store your cryptocurrency. They are highly secure and preferred by many users for storing large amounts of coins or tokens.
  1. MetaMask Integration: If you use MetaMask, you can integrate it with DeSo to manage your DESO tokens. This integration allows for seamless interaction between DeSo and Ethereum ecosystems.

Choose the method that best fits your needs and security preferences.

How to buy Decentralized Social?

To buy Decentralized Social (DESO) tokens, follow these steps:

  1. Choose an Exchange: Select a reputable cryptocurrency exchange that supports DESO trading. Some popular options include Coinbase, AscendEX, and Gate.io.

  2. Create an Account: Register on the chosen exchange by providing the required information, including photo identification and a valid email address. Verify your account to ensure you can make transactions.

  3. Deposit Funds: Add funds to your exchange account using a debit card, credit card, wire transfer, or Bitcoin (BTC). The available deposit methods may vary depending on the exchange and your location.

  1. Buy DESO: Use your deposited funds to purchase DESO tokens. You can do this by selecting DESO from the list of available assets and entering the amount you want to buy. Confirm your purchase to complete the transaction.

Additionally, you can also use HeroSwap to buy DESO anonymously with BTC, ETH, SOL, USDC, USDT, and more without signups or wallet connections.

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History of Decentralized Social

Decentralized Social (DeSo) is a blockchain-based social media platform that aims to decentralize the social media category. The history of DeSo began with the vision of creating a blockchain capable of scaling social media applications to one billion users. This vision was driven by the realization that current blockchains are not equipped to handle the storage and indexing requirements of social media applications, which are fundamentally different from those of decentralized finance (DeFi) applications.

The founder of DeSo, Nader Al-Naji, has explained how he got into crypto and why he chose to create DeSo in a YouTube video. He highlights the need for a blockchain that can scale social media applications, which are as large and promising as DeFi applications.

DeSo represents a more than two-year effort to create a blockchain that can decentralize the social media category. It is designed to solve the existing problems that plague social media today, such as centralization, underpayment of content creators, and outdated business models. DeSo aims to provide an open protocol that the entire world can build on collaboratively, unlocking the full potential of creators and bringing competition and innovation back to social media.

The DeSo blockchain is money-native, allowing for new signals to emerge that can be used to rank content more effectively. For example, the bitclout.com app has already produced competitive results by ranking comments by the social token price. This approach has also significantly reduced spam for influencers.

DeSo is designed to maintain decentralization in the long run by incentivizing creators to post directly to the blockchain rather than to centralized apps. This ensures that developers have access to data and APIs, preventing the concentration of power seen in traditional social media companies.

Today, DeSo is a functional blockchain with its native token, DESO, which can be bought and sold on crypto exchanges like Coinbase. The current price of DESO is $39.26, with a circulating supply of 8,884,536 DESO.

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How Decentralized Social works

Decentralized Social (DESO) is a blockchain-based platform designed to decentralize social media and give control back to content creators and users. Here's how it works:

Key Features
  • Decentralized Identity: Users have full control over their profiles, content, and social graphs, which are stored on the blockchain. This allows for seamless portability across different applications within the DESO ecosystem.
  • Censorship-Resistant: Content is stored directly on the blockchain, ensuring that users own their content and can use end-to-end encryption to protect it from middlemen.
  • Monetization: DESO enables creators to earn through various means such as NFTs, DAOs, crypto tips, and social tokens, providing a more direct and equitable way to monetize their content.
Technical Details
  • Layer-1 Blockchain: DESO is built from the ground up as a layer-1 blockchain, specifically designed to handle the storage and indexing requirements of social media applications, which are different from those of financial applications.
  • Revolution Proof of Stake Consensus: DESO uses a proof of stake consensus mechanism, which is more energy-efficient and less resource-intensive compared to traditional proof of work mechanisms.
  • Derived Keys: DESO allows for the creation of derived keys, which enable controllable access-sharing of one’s account. This feature is particularly useful for managing permissions and transactions within the ecosystem.
Integration and Interoperability
  • MetaMask Integration: DESO has integrated with MetaMask, allowing users to seamlessly interact with both the DESO and Ethereum blockchains using a single click. This integration is made possible by the use of derived keys, which enable the translation of MetaMask wallets into DESO wallets.
  • Open-Source and Permissionless: The entire codebase and data are open-source and stored directly on the blockchain, ensuring that anyone can run a node and access the data without needing permission.
Applications and Use Cases
  • Decentralized Twitter: Diamond is a decentralized Twitter-like application built on DESO, where creators and communities can engage and earn.
  • Decentralized Fundraising: Openfund is a social-first web3 fundraising platform that allows projects to raise funds using various cryptocurrencies.
  • Mobile App: Desofy is a mobile app that provides a comprehensive decentralized social experience.
Vision and Goals
  • Decentralizing Social Media: DESO aims to decentralize social media, giving control back to users and creators, and promoting a more equitable and open ecosystem.
  • Scalability: DESO is designed to scale to billions of users, making it a viable alternative to traditional social media platforms.

Overall, DESO is a comprehensive platform that combines the benefits of blockchain technology with the needs of social media, providing a decentralized, open, and equitable environment for users and creators.

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Decentralized Social's strengths

Decentralized Social (DeSo) offers several strengths:

  • Content Ownership and Monetization: Users have full control over their content and can monetize it through various means such as social tokens, social NFTs, and social tipping.
  • Decentralized Identity: Users can maintain a single profile across multiple apps, ensuring that their identity, content, and social graph are portable and under their control.
  • Censorship-Resistance: Content is stored on the DeSo blockchain, making it resistant to censorship and ensuring that users own their content.
  • Enhanced Privacy: Users have control over their data and can use end-to-end encryption to protect their content from middlemen.
  • Scalability: DeSo is designed to scale storage-heavy applications to billions of users, making it suitable for large-scale social media platforms.
  • Innovative Features: DeSo offers a range of innovative features such as creator coins, social NFTs, and social tipping, which empower creators and provide new opportunities for income generation.
  • Open-Source and Permissionless: DeSo is 100% open-source and permissionless, allowing for unrestricted development and use of the blockchain.
  • Improved User Experience: DeSo aims to provide a simple and intuitive user experience, making it easy for users to navigate and engage with the platform.
  • Potential for Innovation: The decentralized nature of DeSo fosters innovation, as users and developers are free to experiment with new ideas and technologies without central authority constraints.

Decentralized Social's risks

Decentralized Social (DESO) carries several risks, including:

  1. High Risk Analysis: According to InvestorsObserver research, DESO has a high risk analysis score, indicating that it is susceptible to price manipulation based on factors such as volume and market cap changes.

  2. Lack of Central Moderation: Decentralized social media platforms like DESO lack central moderation, which can lead to a "Wild West"-like atmosphere where users may post harmful content without fear of consequences.

  3. Technical Issues: The complex technologies and protocols used by decentralized social media can be difficult for non-technical users to understand and use, leading to frustrating experiences and potential technical issues.

  1. Dependence on Third-Party Services: Decentralized social media often relies on third-party services, such as server providers and decentralized identifier providers, which can create additional risks and dependencies.

  2. Limited Feature Sets and User Experiences: Decentralized social media platforms may not offer the same level of features and user experiences as more established, centralized platforms, making them less appealing to some users.

  3. Malicious Users: Decentralized networks are open to vulnerabilities and can be exploited by malicious users, which can negatively impact the overall user experience.

  1. Difficulty in Finding and Connecting with Other Users: Decentralized social media networks can be fragmented and difficult to navigate, making it challenging for users to discover and connect with others who share their interests.

  2. Potential for Greater Innovation: While decentralized social media can foster innovation, it also comes with the risk of new, untested technologies and protocols that may not be fully reliable.

These risks highlight the challenges and limitations that decentralized social media platforms like DESO face in providing a secure and user-friendly experience.

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Decentralized Social's ecosystem

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Decentralized Social’s team

Here is the team behind Decentralized Social (DeSo):

  • Nader Al-Naji (@nader, @nadertheory): Founder and CEO.
  • Jason Mazursky: Software Engineer.
  • Ed Moss: Growth / Ecosystem.
  • Sofonias Assefa: Software Engineer.
  • Jackson Dean: Software Engineer.
  • Steven Zeller: Software Engineer.
  • Isaac Anthony: Software Engineer.
  • Piotr Nojszewski: Software Engineer (Cryptography).
  • Stas Khorunzhyi: Software Engineer.
  • Ash Ghaemi: Growth Marketing Lead.
  • Jacob Van: Growth Marketing.
  • Maebeam: Software Engineer (Early Team, Contributors).
  • Red Party Hat: Software Engineer (Early Team, Contributors).
  • Blue Party Hat: Software Engineer (Early Team, Contributors).
  • LazyNina: Software Engineer (Early Team, Contributors).
  • Matt Foley: Software Engineer (Early Team, Contributors).
  • Crypto Queen: Spiritual Advisor (Early Team, Contributors).

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