Web 3.0 will power decentralized social networks. DeSo a new concept in blockchain technology is ”
Deso has been active in the promotion of decentralization via social media since 2019.
Today, few private firms are able efficiently manage public speech and make monopolistic profit; content creators, however, are often underpaid or unengaged.
Social blockchain on the other hand considers social media content as a public utility. It is therefore permissionless and available to everyone.
DeSo is a combination of the open P2P finance paradigm offered by cryptocurrencies and efficient and scalable database infrastructure. It was specifically created to enable the next generation of Web 3.0 social networking sites.
In January 2019, Nader Al-Naji founded DeSo. After graduating from Princeton University in Princeton, Al-Naji worked at D. E. Shaw Group as a software engineer and then at Google where he was part of the Google Search and Google Ads team. Al-Naji raised $133 million to launch Basis, an algorithmic stablecoin.
The DeSo Foundation is backing the blockchain platform. This non-profit organization’s purpose is to encourage social media decentralization. In October 2021, it unveiled the Octane Fund (a $50 million developer fund).
The DeSo blockchain offers both traditional social functionality such as creating accounts and posting, but also innovative blockchain-native features such as social tokens (creator coin), tips and non-fungible tokens.
These elements allow for a new range of money-enabled products, from influencer stock markets to social NFT activities.
Deso Apps allow creators to make money while still engaging with their audiences.
Creators aren’t tied to a handful of centralized apps since DeSo regards social data as a public utility. All of the content is kept on a distributed ledger, and can be accessed instantly by a large and growing network of third party apps.
It is not a general-purpose blockchain. Instead, it offers a limited range of social features. It runs on baremet and uses unique indexes that each peer creates during consensus.
This allows the blockchain platform to implement storage capacities that are scalable and can be used in a way that is not possible with any other general-purpose blockchain.
One DeSo can store 1GB on-chain storage for 1 DeSo. But even the most current smart contract systems are expensive ($1,000,000+), it is still possible to get 1GB.