Shortly after Elon Musk released a tweet noting his disappointment with Twitter and the need for a new decentralized social media platform, DESO coin spiked to $82.66 after closing the day before at $35.24.
Chart via CoinMarketCap.
Musk released a number of tweets throughout the week-end regarding Twitter and their lack of an open-source algorhythm. The result for the DeSo blockchain was monumental.
On March 28th, DeSo Blockchain announced they surpassed 1.5 Million accounts created on their network. This milestone came at a time when one of the most influential individuals on the planet was tweeting about decentralizing social media.
Elon Musk recently ran a Twitter poll asking if Twitter’s algorithm should be open source. 82.7% of the 1 million participants responded with ‘yes’. A quick click into Elon’s replies saw people urging him to build his own solution to address this problem. However, that may not be necessary with the announcements that DeSo is making this week.
On top of the 1.5 Million accounts created, DeSo is also announcing an exciting upcoming update to their consensus model from Proof of Work to Proof of Stake, as well as a new platform for launching DAOs called DAODAO.
“With these new updates, we move closer to a world in which social media is not controlled by three centralized companies, but instead, is owned by the users and creators of the network,” said Nader Al-Naji, the Founder of DeSo.
For those who are unfamiliar, DeSo is a new layer-1 blockchain built to scale decentralized social applications to billions of users. People can build social apps on DeSo in the same way they build financial apps on Ethereum.
Unlike other recent Twitter alternatives, such as Truth Social or Parler, DeSo addresses the core underlying issue, which is the centralization of data under big tech companies.
“The first thing people need to realize is that social graphs and content should be stored on blockchains. The second is that in order to do this at scale, dedicated blockchains are needed,” said Alex Valaitis, Head of Strategy and Operations at DeSo.
Via this source.
How is Decentralized Social is different?
Decentralized Social (DESO) bills itself as the world’s first layer-1 blockchain custom-built to scale decentralized social applications to billions of users.
The innovative blockchain was created in 2019 with the purpose of powering Web3 decentralized social networks. It has aimed to solve the problems created by present social media centralization ever since.
Unlike conventional social media, DESO’s social blockchain treats content as a public utility. Anyone can gain access to it. The platform combines efficient and scalable database infrastructure with the paradigm of the open P2P financial system cryptocurrencies offer.
The end product is customized to bring about the next generation of Web3 social media. Hundreds of apps have been built on the DESO blockchain so far.
Should I buy Decentralized Social today?
Nothing can substitute doing your own research. Any investment decision you make should be based on your market expertise, your attitude to risk, and the features and spread of your portfolio. Also, consider how you would feel about losing money.
Decentralized Social price prediction
Tech News Leader predicts the price of DESO will reach $64.90 this year. In 5 years, 1 DESO will be worth $193.33. DESO will have broken $1,000 in a decade. It will be worth $1,147, according to the analyst.
Via this site.
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