Decentralized Social Blockchain Takeaways:
- Jack Dorsey and Elon Musk’s Messages call for a decentralized social media blockchain: DeSo could be the answer.
- Sam Bankman-Fried, Founder of FTX crypto exchange, also had a conversation about buying Twitter or creating a blockchain-based social network
- The DeSo Foundation just released its roadmap to decentralize social media
LOS ANGELES, Sept. 30, 2022 /PRNewswire/ — The DeSo Foundation announces the release of their ambitious roadmap to decentralize social media and build The Social Layer of Web3.
Milestones on the roadmap will be executed over the next 2 quarters to solve the major problem with social media today.
People don’t realize that social media is more centralized than the financial system was when Bitcoin was invented
“Most people don’t realize that social media is more centralized than the financial system was when Bitcoin was invented. Only a handful of companies currently control what we see and do online. We can solve this problem by decentralizing social media and storing all content on a blockchain.” said Nader Al-Naji, the founder of DeSo.
The roadmap release comes as new messages emerge between Elon Musk and Jack Dorsey, showing his idea for a blockchain-based social media protocol that does payments and short text messages.
Additionally, there was a conversation between Elon Musk and Sam Bankman-Fried, founder of FTX, about making a blockchain Twitter or buying Twitter outright.
However, this may not be necessary considering what’s on DeSo’s roadmap.
DeSo released the first milestone on their roadmap with their MetaMask integration, which went live last week. It allows millions of Ethereum users to log in to DeSo with one click. They also plan to add more cross-chain communication bridges between ecosystems.
A move from Proof-of-Work to “Infinite Proof-of-Stake” is also in the works. Like Ethereum’s switch to Proof-of-Stake, DeSo Proof-of-Stake will reduce consumption and become more energy efficient.
A hackathon at a major Ivy League Institution where students can compete to build the next great decentralized social network is also in the works.
The above is expected to be completed by Q4, along with a critical COO hire to help scale business and marketing operations.
DeSo is a new layer-1 blockchain built from the ground up to decentralize social media and scale storage-heavy applications to billions of users. They raised $200 million and are backed by Sequoia, Andreessen Horowitz, and several others.
$DESO, the native currency of the DeSo blockchain, is listed on Coinbase.
Check out the full roadmap and claim your username on deso.com.
SOURCE DeSo Foundation