Because blockchain projects are open-source, users can inspect the algorithms used to control our social media feeds. No longer will Big Tech implement secret algorithms built to exploit user attention or promote divisive and harmful content. Web3 social platforms would rely on decentralized identity, you wouldn’t need to reveal sensitive information, like your email address or location, when creating a social media account. You’d only need to connect your digital wallet to prove your identity—and that’s it. Alright, I just finished watching Vitalik’s excellent discussion and that pushed me to finally rant about a topic that I’m interested in — decentralized social media. So, here’s what a decentralized social media protocol looks like, at the top of my mind.
Decentralized social media would make it manageable so that actions or messages cannot be linked to a single person. A user could create a profile on the decentralized network, but have a unique code as their identifier, rather than personal information. They connected many social networking platforms with e-mail addresses, phone numbers, and other personal information; Where there will be data, there will be scope for the data breach. Therefore, just a handful of social media platforms exist and a few control the market.
E-mail, bulletin boards, online chat, and file sharing have long formed the stable core of the interpersonal interaction enabled by computers wired to pass information freely between one another. It is worth recalling that these basic building blocks of online communications were the product of publicly or university funded initiatives; they were not justified by business plans, marketplace analysis, or a projected return on investment. In our lives, each of us inhabits a wide range of distinct, independent social networks. As we move between them, we bring with us our unique interests, our experience, knowledge, and relationships. Each time we go from one social network to another we do not need to restate who we are, what our interests are, or who we know. And we certainly don’t leave these aspects of ourselves behind as we cross from one social milieu to the next.
Thanks to its decentralized consensus system, blockchain not only offers greater privacy, but it also gives you the right to express yourself freely. No ex or former disgruntled employee can hack into your account; no one can censor or delete your content or the account itself without your consent. The Institutional Blockchain Investment Guide details our exclusive formula to research projects, plus all the information you need to get your blockchain knowledge up to speed. If Sony doesn’t like the outcome or has a feeling that OP somewhat manipulated the votes, they can contest the decision. They’d now enter more tokens into the contract, which this time will draw an even bigger number of jurors to the case.
Autonomous reputation systems will need to be innovated upon — more on this later. For now, though, we have to ensure that the networks are not attractive to sybil attacks — e.g. please don’t make tokens farmable. Moreso than censorship resistance, the greatest trick a blockchain-based social network can pull off is combining the financial world with social. Blockchains are ill-suited for content availability, as Steem has definitively proven. Currently, you must have a very, very centralized blockchain that’ll store all content, and even then, there are some hard limits to scalability. With a very, very centralized network, you’re compromising the chief advantage of blockchains for content anyway.
These issues have motivated the researchers to make a paradigm shift in the OSN architecture. Researchers have come up with several proposals for solving the issues with centrally controlled OSNs by replacing them with Decentralized OSNs in a peer-to-peer setting. DOSN gives the users more autonomy and the chance to participate in social networks without loosing control over their data. However, different DOSN proposals have significant differences in their proposed services, architecture and also the extent of decentralization.
To date, online identity is treated the same way as an individual’s credit history – as information that exists as a result of commercial transactions, and so is the proprietary data of the company that captures it. These companies then have the legal right to do with this data as they see fit, including making it available to massive databases that centralize this information for resale. Read more about buy real twitter followers here. At the same time, your rights as a citizen to access and effect this same information are limited – as anyone who has ever had to sort out errors in his official credit history can attest.
Blockchain social media promises to solve most of the issues related to the traditional centralized social media networks. For instance, by taking advantage of the freedom offered, users may post inaccurate or offensive information which will remain on the blockchain network forever. Moreover, decentralized networks can also address fake content, spambots, and fraudulent ad impressions. This is why blockchain challenges the traditional social media networks to restructure their data policy, content sharing algorithms, user authentication systems, and payment methods. Some common examples of blockchain social media include Steemit, Diaspora, SocialX, All.me, Earn, and Minds.
Creativity from content creators needs to be molded, and to an extent is restricted, as content must follow a strict set of rules for a chance of reaching others’ news feeds and streams for a potential engagement. Through long-form features, thoughtful analysis, and a little humor and satire, we illustrate how the implementation of this technology is affecting the lives of countless people — today, right now, not at some distant point in the future. Cointelegraph Magazine is a new publication that goes beyond the daily news and delves much more deeply into the stories, trends, and personalities that inspire cryptocurrency and blockchain conversations around the world. On the DeSo blockchain, the DESO token can be used to purchase creator coins.
Each public chain has a different underlying protocol, so our technical team needs to understand the protocols of each public chain and develop compatibility, which is a substantial and complex progress. Imagine running Freedom on Ethereum and having to pay nearly $100 in Gas fees for a single message, which does not fit the “SocialFi” scenario. It is common knowledge that social media sites track user activities and store all user data for marketing purposes. Moreover, most of them also are strongly thought to exploit and sell this data, although they deny doing so.