ZoneBitcoin EditorialWe had already told you about BitClout, a sort of Twitter in a decentralized version which caused a lot of ink to flow at the time. And then, like all fashionable projects, interest very quickly faded.
BitClout's problem is that it had added influencers without asking their permission. This was particularly the case with Elon Musk and that had tainted the project a little….
Then, recently, we looked at it again because the founder of Bitclout (Nader Al-Naji, a former Google engineer) launched the layer 1 Deso blockchain. It is an infrastructure that wants to offer all the tools to create social networks like Twitter, Linkedin or Facebook. Besides the crypto DeSo (stands for Decentralized Social).
For example, Diamond is a Facebook-like social network built on Deso.
If you don't see the link to BitClout, tell yourself that this was actually the first step in building DeSo. The company behind it has just raised more than $200 million because institutional investors know that crypto-holders are looking for decentralized social networks. Notable VCs include Sequoia, Andreessen Horowitz, Coinbase Ventures, Winklevoss Capital, Pantera Capital, Polychain Capital, and even Reddit founder Alexis Ohanian.
BitClout is a social network where influencers own their own tokens. These are more valuable if the influencer has them.
DeSo wants to go further and turns out to be more complete than BitClout.
Indeed, when you have Deso, it looks like a hybrid version between Facebook and Twitter and that was indeed the goal.
The ambition is therefore honorable: that of creating an infrastructure to create decentralized social networks.
Presentation of the DeSo social network
Deso is a new blockchain built in part on Bitclout technology. Today, there are more than 200 applications created on the network. The majority of these are dApps on the theme of social networks.
It is a 100% open-source project and all data is accessible and 100% on-chain. Everyone has access to them and they do not belong to a private group as is the case with traditional networks.
Thus, the idea of DeSo is to democratize the use and creation of social networks.
What do you think of DeSo?
Frankly, it would be difficult to talk about it while remaining neutral...The project and the ambition are excellent. We radically need decentralized social networks.
The only thing we can criticize about DeSo is its really clumsy dealing with BitClout. Many people excited about the project have still not swallowed what could be considered audacity.
To give you a quick summary of this affair: On the Bitclout social network, we could see profiles created using Twitter accounts. So, there was Elon Musk's profile displayed even though he had not registered on the platform... It was misleading... And, to take control of his profile, you had to buy associated tokens...
This was very badly taken by the community and we can easily understand that.
Nader Al-Naji explained by saying that users could delete their profiles if they did not want to participate. Likewise, he added that it was not intentional and that a version of the test site was put online, without having planned it.
Now we can also say that mistakes are human and that this was a big marketing stunt at the same time.
We can concentrate on the essentials and see the new applications created like Pulse, Flick or more original projects like NFT “Afterparty” to be part of a club for IRL evenings…
Deso can be successful if and only if the projects developed succeed in gaining an audience….Only the future will tell…
- Discover DeSO
- Discover the course $DESO token on Coinmarketcap (You can buy it on Coinbase).
Disclaimer: This content is for informational purposes and does not constitute financial advice. We strongly advise our readers to conduct their own independent research before committing to any investment.
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In the end, is it really better than using federated social networks like Mastodon or Diaspora? The real challenge is to create a fully encrypted Facebook-type social network to be sure that only selected contacts can see our posts, without any way for intermediaries to analyze the content and even less the meta data.
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