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DeSo : Decentralizing Social Media Apps

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DeSo is the only blockchain in the crypto industry designed explicitly for scaling decentralized social apps. The existing blockchains are not equipped with the tools with the help of which they can index and store the extensive data generated by social applications. DeSo was built with the purpose that it will scale social media as this is the biggest unexploited market for blockchain. The DeSo blockchain provides open code and data, and there is direct storage of all content on-chain. The DeSo blockchain owns its native cryptocurrency that is $DESO. With the help of this cryptocurrency, DeSo can be used to purchase NFTs, social tokens, create posts, give “diamonds,” develop profiles, and many more things. Several lines power DeSo blockchain, and each of these lines is 100% open-source, in contrast to traditional lines of social media that are closed-source walled-garden. 

Get Free DeSo at Sign Up Using This Link

Why is there a need for Decentralization?

In contrast to the financial industry, today the social media is centralized to a greater extent. Few private companies are efficiently controlling the public debate, and this process results in huge earning and monopoly profit without giving credit or part of income to actual creators. The content creators remain under-monetized, underpaid, and under-engaged; this happens because of the ads-driven business model. The ads-driven business model forces social media companies to keep the content walled garden on their platform and prevent external developers’ buildup and innovation of apps. There is no choice left for users and creators other than their apps.  

This problem can be solved by making social media decentralized like Ethereum and Bitcoin as their financial system is decentralized if we use the open model for social media and start putting the content into several public blockchains rather than monopolizing it by giving to a few private companies. This process will create an excellent scale economy around that public blockchain. The DeSo blockchain provides decentralized social apps to one billion users. The purpose of DeSo is to make a chain of specialized blockchains that are also dominant, and each of them is tailored to a specific category of apps. 

How DeSo Works

The DeSo is designed in a way that it can handle a wide array of transactions, unlike just receiving or sending money. DeSo blockchain scales the social features with a vast indexing logic and custom storage. The non-developers can understand the architecture of DeSo and its advantages in such a way that continues to the next segment, which elucidates things in top-tier terms. However, the interested developers can dive into the lower-level specifics with the help of a developer guide; they will have a good point of start present on our platform, and there is also a code walkthrough that guides them on how everything fits together in the best way.  

Storing at On-chain

The DeSo exceptionally store every bit of data on the blockchain directly and can do anything necessary to maintain the architecture. This value is critical in ensuring that the growth of DeSo will surpass that of any other network and ensure that the end-state of DeSo doesn’t mirror the social ecosystem that is highly centralized and closed. DeSo stores everything directly on On-chain. Currently, DeSo is equipped to store a complete list at on-chain; this list includes all comments, posts, profiles, end-to-end encrypted private messages of users, likes, follows the activity of social token, the activity of social tipping, the activity of NFTs including bids, the activity of $DESO transfer, messages or links to rich media, and verification of profile.

DeSo Native Social Features 

The DeSo is a systemic blockchain that supports novel blockchain features like NFT, social tipping, and tokens and reinforces traditional social features like post and profile creations. These extraordinary features enable the DeSo blockchain a new wide range of categories of money-enabled products, from the stock market of influencers to experiences of social NFTs. With the help of these products, the creators can earn more money on apps that are DeSo enabled compared to traditional social networks and maintain direct relationships with followers. The creators are not working under a handful of apps that are centralized, but with DeSo, they work in decentralized networks where the business model revolves around transactions with several intermediary apps.

What is $DESO

$DESO is the native cryptocurrency of DeSo blockchain, with the help of which you can do anything on the DeSo platform. On the “Buy DeSo” page, you can easily buy $DESO by using bitcoin in minutes. According to coinmarketcap.com, the market cap of $DESO is about 1 billion, which means it is a good investment.

Also Read: How to Get $25 of Free $DeSo Crypto – Crypto Bite

Creator Coins (Social tokens)

By creating a profile on the DeSo network, you can own your “creator coins”; anybody can buy or sell these coins. When more people buy these coins, the price of each coin rises. The reputation of an individual depends on the creator coin. The creator coins are the first trading tool of DeSo. 

Founder Reward

The creator can keep a defined percentage of coins as a “Founder Reward” from every profile. The DeSo think a better way for the creators of cash is to own a piece of their creation.  

Social NFTs

Non-Fungible Tokens (NFTs) are digital content that anyone can buy and become an owner of that NFT and sell when there is the highest bid. When the selling process completes, the history of the buyer and seller of that NFT are recorded on the blockchain. Anyone in the world can view NFT, but its ownership is limited to a single person. DeSo is a social platform inherently, and the DeSo predicts the use-case of NFTs will expand far beyond and will not remain only digital content.

DeSo and NFTs

deso nfts
Metazens NFTs Released on DeSo, Solana, and ETH Coming Soon

In DeSo, NFTs are shown off in the NFT collection of users on their profile and enable them to grip around their NFTs via diamonds, likes, comments, and many more. Furthermore, because DeSo has a native idea of identity in the form of a user’s profile, the issuer’s reputation is much more meaningfully connected to the NFT, especially for celebrities and superstars with established brands. This not only raises the value of DeSo NFTs but also opens the door to a slew of new dynamics that integrate collecting, flexing, and social.

Final Thoughts on Decentralized Social Media DeSo

DeSo supports the decentralization of social applications. The primary purpose is to support the creators and other members in a centralized social market; there is a monopoly, and income is in the hands of a few private companies. DeSo a long list of things to users and NFT minting at the platform. 

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1 Comment

1 Comment

  1. jon

    December 9, 2021 at 3:25 pm

    nice and i would say important information as in today’s world it really important to know about this stuff. Doing an excellent job buddy keep on going. And i am making my own deso account now from that ad link like others did. Right everybody?

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Bitcoin

Blockchain and Artificial Intelligence

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Artificial intelligence (AI) was introduced in 1955 by John McCarthy

Artificial intelligence (AI) is the ability of a computer program to think, learn and mimic human thought. Introduced in 1955 by John McCarthy, artificial intelligence has several different fields of study. These fields include computer science, mathematics, psychology, and philosophy, among many others. AI is linked to several different use cases. The most prominent use cases include machine learning, supply chain optimization, speech recognition, self-driving cars, and manufacturing optimization.

Now we know a bit about AI, let’s review a few examples of how AI is improving decentralized networks like blockchain.

Cryptocurrency Trading

During the past few years, artificial intelligence has substantially increased its presence in the area of crypto trading. This is particularly true with high-frequency trading (HFT). Essentially, HFT is a type of algorithmic financial trading characterized by high speeds and high turnover rates. High-frequency trading is a perfect vehicle for cryptocurrency trading because the crypto universe has several different exchanges.

HFT uses artificial intelligence to analyze multiple technical indicators across various exchanges in an effort to take advantage of market opportunities. AI is still in its infancy stage in regard to crypto trading. Going forward, artificial intelligence will play a pivotal role within the crypto trading community. These are commonly known as trading bots.

Suggested Read: What Are Public, Private, and Consortium Blockchains? – Cryptobite

Blockchain Security

Unfortunately, industries that find themselves in a hyper-growth phase are more susceptible to cyberattacks and malware. Without question, blockchain technology, along with digital assets, is currently experiencing an explosive rate of growth. Consequently, the blockchain industry has endured an exponential increase in malware, phishing, fraud, and digital theft. Based on data provided by industry experts, $9 million is lost to cryptocurrency scams on a daily basis.

The key to successfully thwarting a blockchain hack is to identify the threat and understand the nature of the attack as quickly as possible. Hackers are acutely aware that they must strike quickly in order to launch a profitable attack. Unfortunately, crypto exchanges have a poor track record in preventing cyber-attacks. AI-based cybersecurity systems are designed to detect a hack in real-time and dramatically increase the likelihood of stopping the attack. AI systems are far superior to traditional cybersecurity systems because AI has the ability to detect patterns from previous attacks. This information can be used to prevent future cyber threats.

Bitcoin Mining

As you know, all crypto transactions are verified and added to the blockchain by Bitcoin miners to maintain the integrity of the network. In exchange for their work, miners are rewarded with Bitcoin. Crypto mining requires energy consumption and computing power. Over the past few years, Bitcoin miners have explored the idea of using artificial intelligence to reduce energy waste and computing power to reduce costs.

A few of the largest mining companies have created AI-based systems, allowing companies to share power and increase profitability. AI algorithms have made crypto mining faster, more profitable, and more efficient. Without question, artificial intelligence will continue to play an essential role throughout the crypto industry.

Brief Summary of Blockchain and Artificial Intelligence

Artificial intelligence (AI) was introduced in 1955 by John McCarthy

  • AI is the ability of a computer program to think, learn and mimic human thought.
  • AI encompasses several different fields of study.
  • AI has increased its presence in cryptocurrency trading.
  • High-frequency trading uses AI to analyze technical indicators across many exchanges.
  • AI-based cybersecurity systems are designed to detect a hack in real-time.
  • Bitcoin miners use AI to reduce energy consumption and computing power.
  • A few of the largest mining companies have created AI-based ecosystems.
  • AI algorithms have made crypto mining faster, more profitable, and more efficient.
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Blockchain

How Does Blockchain Compare to Other Innovations?

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How Does Blockchain Compare to Other Innovations

Probably, the most innovative discoveries of the past 100 years are the world wide web (i.e., internet) and the mobile phone. By now, both these things have become a must-have of modern human beings. Let’s look at the stats. In 1995, only 17% of USA residents were using mobile phones. By 2018, only 5% of US residents still did not have this device in use. While in 1995, only 16 million people (0,4% of the world’s population) were internet users, by 2018, this number increased to 4.2 billion, which is more than half of all people. Interestingly, during the first 5 years of the internet’s existence, only 5% of all people have found it worthy enough to use.

These numbers indicate how we interact with new technologies. As a general rule, most people are skeptical of discoveries and innovations at the early stages of their existence. Still, when the benefits of using a certain technology become obvious, it spreads all over the world with the speed of light.

Typically, it takes about 10 years before the average consumer makes an effort to research a new product or service. By this time, approximately 10% to 20% of the overall population had adopted the innovation. The remaining 80% to 90% of the population is still on the sidelines, unwilling to implement this new technology into their daily lives. Within 20 years of the new product’s existence, the majority of the population finally adopted it. Without question, consumers are very slow to implement new technologies.

Suggested Read: Blockchain and the Banking Industry – Cryptobite

Adoption of Blockchain Technology

But should we wait another 20 years to see the adoption of blockchain technology? Most likely, it will occur much faster than the internet, mobile phones, automobiles, or air travel. Why? Because once the blockchain infrastructure is in place, the old ledger system becomes useless. Therefore, soon, consumers will not have to choose between the new digital ledger and the old manual ledger. Companies that won’t migrate to the blockchain will be left behind and eventually forced out of business.

Within the next decade, blockchain technology will permeate our daily lives. For example, everyday things like voting, purchasing a vehicle or a home, visiting a medical care provider, investing in the stock market, obtaining a bank loan, going to college, or shopping at a retail establishment, will encounter blockchain technology.

Most probably, within the next five to 10 years, we will encounter blockchain technology daily. This explains why it will be exponentially larger than the internet.

Brief Summary of Blockchain In Comparison to Other Innovations

  • As a general rule, people are skeptical of discoveries and innovations.
  • It takes approximately 10 years for the average consumer to become a regular user of innovations.
  • Full adoption of a new product or service takes 20 to 30 years.
  • The adoption rate of blockchain will occur much faster.
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Bitcoin

What Is Blockchain Consensus Algorithm?  

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What Is Blockchain Consensus Algorithm

Blockchain technology has many different moving parts. Hence, to operate smoothly, the architecture must be properly designed. An important piece of Nakamoto’s architectural design is the use of a consensus algorithm. 

Blockchain Consensus Algorithm in a Nutshell

In its simplest format, a blockchain consensus algorithm is a decision-making process. It is designed to assist in reaching a common decision by a group of people. Of course, in this particular scenario, the consensus algorithm involves blockchain-related solutions.

How Does it Work?

Let’s assume that 20 co-workers are asked to collaborate and offer a recommendation on a specific project. Each participant in the group will reach a decision that will provide the greatest individual benefit. The group must listen to each recommendation and decide which of them will provide the greatest overall benefit. The final recommendation must be accepted by all group members regardless of whether it offers the best solution for each individual.

Let’s assume that 20 co-workers are asked to collaborate and offer a recommendation on a specific project. Each participant in the group will reach a decision that will provide the greatest individual benefit. The group must listen to each recommendation and decide which of them will provide the greatest overall benefit. The final recommendation must be accepted by all group members regardless of whether it offers the best solution for each individual.

Suggested Read: Luxury Fashion Brands Are Entering The Crypto Space (cryptobite.io)

Brief Summary of Blockchain Consensus Algorithm

  • An important piece of blockchain architecture is the use of a consensus algorithm.
  • It is a decision-making process that helps a group of people to make a common decision.
  • The consensus algorithm always produces the optimum solution for the overall group.
  • A consensus algorithm helps to create fairness and equality in a decentralized ecosystem.
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