Decentralisation isn’t just about DeFi and coins - if we still remember the initial purposes of Web 3.0, providing people with independent information sources was also a reason. The recent Elon Musk Twitter poll that asked the community whether they would like him to buy the whole company and the today’s purchase with the following users’ reaction clearly showed the need of a truly free social media.
Decentralised Social and their Hypersync technology are here to solve this problem
While other blockchains are only starting to show their social media, DeSo already has a working ecosystem with 200+ active users and new ones arriving every day.
The problem every blockchain is facing when creating usable, but still decentralised social media is storing all the information on-chain with minimal cost. DeSo is an L1 blockchain and was built with just a single purpose - to make every byte of information, held on-chain as cheap as it could possibly be.
Compared to Ethereum with a 393,750,000$ price for a gigabyte of information stored on chain and Solana with its 1,371,600$ , DeSo shows some significant advantages with only 80$ per GB. As an example, an average 200-character would cost 80$ to store on Ethereum’s chain, but DeSo will only charge you 0.0001$ for this amount of storage. Of course that results in decentralization decrease, though the chain is still divided into blocks and is absolutely transparent for all the users with no barriers for free speech. The only people who are privileged here are node holders, because they get access to an admin deck that allows you to track all the operations much easier and faster. Still, anyone could make their machine into a node.
Once again DeSo is not a dApp, but a core L1 chain. That means dApps and social media are built using it. More than 200 dApps are already available and have active users.
DeSo also comes with some really useful features, that could help to integrate into the ecosystem a lot:
On-Chain profiles allow you to have one account with it’s unique key for every dApp of the ecosystem.
NFTs are also an important part of the ecosystem and each account has its own NFT showroom with the ability to show off your NFT as a PFP of course.
Each account also has an opportunity to attach a social token to it. Social tokens earn cashflows from NFTs and will soon allow any forms of monetisation.
And of the integration of tipping or the so-called “Diamonds” will be available for all the dApps, so each creator and even commentator can have earnings from using the dApp.
The one single account feature and the on-chain post storage also allow the creators to move their posts and works from one dApp to another with ease, so everyone finds their target audience.
What about the token?
$DESO is a token with a fixed 10.8M amount and not so much to talk about in terms of utility. Can be used to purchase NFTs and social tokens on blockchain’s local marketplaces as well as creating profiles and posts exchanging other tokens.
Although, a great project that fulfills an empty blockchain ecosystem section with a pretty neat and functional solution which indeed has some useful tools for creators and regular users. However, the tokenomics are nothing special by now - we’ll where that goes.