Decentralized social media: The next big thing in crypto?
NFTs and the Metaverse are the hottest topics in the cryptocurrency ecosystem right now, but the next big thing might just be decentralized social media. Like decentralized finance, decentralized social media platforms dont have a centralized governing body and may, someday, provide viable alternatives to established platforms like Twitter, Instagram, Facebook and TikTok. The technology is currently evolving just beyond the embryonic stage of development.Yung Beef, or YB who serves as content lead and community manager at Subsocial says that centralized social media platforms are unfair to....
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I. The flaws of centralized social media platforms & the problems can be solved by their decentralized counterparts Today we use social media applications such as WeChat, Discord, Twitter, and Facebook to transcend spatial/temporal limits and communicate with others, thereby minimizing the time needed for communication or social interaction. However, such centralized social media platforms […]
Synereo's first and most well-known decentralized application is their Social Media Layer, a decentralized social media platform. This could have revolutionary applications in mainland China, where social media is heavily controlled by the government, and the Chinese cryptocurrency community has responded positively with multiple partnerships and events. The cryptocurrency industry has long thrived in mainland China due to a combination of factors. Low costs make it dominant in the mining scene, and crypto’s a great haven from the falling yuan, but even more interesting are the potential....
“With current social networks, you are not the client. You are the product being sold.” Synereo opened their official announcement with the above messaging, a bold statement about the current state of social media. Built to be decentralized, Synereo wants to change social networking for the better, rewarding their user base along the way. Synereo approaches ads on social media quite differently than others currently in the market. Instead of adhering to the traditional model of unsolicited advertisements, Synereo believes user attention is worth paying for.
The new lead plans on hiring for the Bluesky team and “partnering closely with Twitter and other companies” as part of the next steps towards fulfilling the decentralized social media plan. Jay Graber, a former software engineer for Zcash and blockchain firm Skuchain, will be leading the anticipated decentralized social media initiative first announced by Twitter in 2019.In a Twitter announcement on Monday, Graber said they would be in charge of the Bluesky project after working closely with “a group of thinkers and builders” from the decentralized social ecosystem. They plan on hiring for....
Synereo is back in the spotlight with another crowdsale, which is being coupled with the release of the alpha model of their decentralized social media platform. The crowdsale has been much covered, and is really nothing new, but their social network and the technology behind it still appear to be widely misunderstood. This is the first of a two-article series designed to change that. Synereo has been around for a little while, and raised the equivalent of $126,000 in their initial AMP crowdsale last year. Since then, they’ve been relatively quiet, and I was surprised to hear they plan to....