Deso Coin: A Smart Investment Decision?

DeSo (Decentralized Social) is a blockchain-based platform designed to support a wide range of decentralized social media applications. The DESO cryptocurrency is the native token of the Decentralized Social blockchain. It can be used to purchase social tokens and non-fungible tokens (NFTs), and to create profiles and posts for Decentralized Social applications. DeSo aims to shift control of online information from a few tech giants to the users themselves. It allows users to own their identities, profiles, content, and social graphs in a censorship-resistant way.

DeSo was founded by Nader Al-Naji in January 2019. After graduating from Princeton University, Al-Naji worked as a software engineer at the D. E. Shaw Group and later at Google. Before DeSo, he raised substantial funds to start an algorithmic stablecoin called Basis in 2017. The DeSo blockchain is supported by the non-profit DeSo Foundation, which has a substantial treasury to support its mission of decentralizing social media.

As of August 2024, the Decentralized Social price is around $7 per DESO, with a market cap of $67.71 million. The price has decreased by 52.51% in the past week. The all-time high for DESO was $438.10.

So, is DeSo a good investment? Well, that's hard to say. Some people believe in its potential, while others are more sceptical. It has been described as a high-risk, potentially high-reward investment. Some notable venture capitalist firms, such as Coinbase, Sequoia, and a16z, are backing DeSo, which inspires confidence. However, there are concerns about a lack of hype and community engagement, as well as limited information and transparency about the project. Ultimately, it's up to you to decide whether to invest in DeSo, but be sure to do your own research and carefully consider your risk tolerance before making any investment decisions.

DESO's potential to disrupt social media

DESO is a Layer 1 blockchain designed to decentralize social media for billions of users. It is the first and only blockchain custom-built to scale decentralized social applications to billions of users. It is also the only blockchain that can power storage-heavy applications.

DESO allows users to own their identity, profile, content, and social graph in a completely censorship-resistant way. It also provides creators with new crypto-native tools such as Social Tokens, Social DAOs, Social NFTs, and Social Tipping, enabling them to monetize their content and make a living from their passion.

DESO's unique architecture allows it to reach highly scalable storage capabilities that are unparalleled by any general-purpose blockchain. For instance, the cost of 1 GB of on-chain storage on DESO is as low as 1 DESO, whereas even the best smart contract infrastructures require millions of dollars to achieve the same.

With DESO, users can create one profile and take their identity, content, and social graph with them across any app. This means that users are not locked into a handful of centralized apps, and their content is stored on a decentralized ledger, immediately available to a large and growing network of independent third-party apps.

DESO also offers a variety of crypto-native features like NFTs, DAOs, Social Tokens, Crypto Tips, Paid DMs, and more, providing new ways for creators to monetize their content.

The DESO blockchain is supported by the non-profit DeSo Foundation, which has a $200 million treasury to support its mission of decentralizing social media. The foundation is led by crypto veteran Nader Al-Naji, who has experience working as a software engineer at Google and raising substantial funds for previous ventures.

While DESO shows potential, it is still a high-risk investment. Some users have expressed concerns about the lack of hype and community engagement, as well as limited information about the project. However, it has backing from notable venture capitalist firms like Coinbase, Sequoia, and a16z, and is making progress with over 100 apps being built on it.

DESO's unique blockchain technology

DESO is a unique layer-1 blockchain designed to decentralize social media and scale storage-heavy apps to billions of users. It is the first and only layer-1 blockchain custom-built from the ground up to scale decentralized social applications to billions of users.

The DeSo blockchain supports not only traditional social features like creating profiles and posts but also novel blockchain-native features like social tokens (creator coins), tipping, and NFTs. These features unlock a wide range of potential use cases, including building decentralized versions of popular social media platforms, creating social NFT experiences, and influencer stock markets.

DeSo's biggest advantage lies in the fact that it is not a general-purpose blockchain. It supports a narrow set of social-oriented features, allowing it to reach highly scalable storage capabilities that are unparalleled by any general-purpose blockchain. For instance, the cost of 1 GB of on-chain storage on DeSo is as low as 1 DeSo, while even the best existing smart contract infrastructures require millions of dollars to achieve the same.

DeSo also offers creators new crypto-native monetization tools, such as Social Tokens, Social DAOs, Social NFTs, and Social Tipping, providing them with opportunities to monetize their content and connect with their followers in new ways.

Additionally, DeSo is designed to be 100% open-source and on-chain permissionless data, with all code and data completely open and stored directly on-chain. This allows for censorship-resistant content and gives users true ownership of their identity, profile, content, and social graph.

With DeSo, developers can build in a gasless, permissionless, and transparent environment, tapping into an open firehose of millions of wallets, profiles, and content from day one of launching their applications.

DESO's high-risk, high-reward investment status

DESO is a high-risk, high-reward investment opportunity. On the one hand, it has strong backing from notable venture capitalist firms like Coinbase, Sequoia, and a16z. These firms' support provides confidence in the potential success of DESO. Additionally, the current sentiment surrounding traditional social media platforms, including censorship, shadow censoring, politicization, and privacy invasion, has created a demand for alternative solutions. DESO, as a decentralized social blockchain, has the potential to disrupt the social media space and provide users with greater control over their online identities, profiles, and content.

However, there are also concerns about DESO as an investment option. The lack of hype and slow community growth could be potential red flags. Additionally, there is limited accessible information about DESO, and the founder, Nader Al-Naji, appears to be selective in the details shared about the project. While this could be attributed to a particular business style or the early stage of the project, it may also indicate potential challenges or uncertainties.

The success of DESO as an investment will likely depend on the network effects of the platform. If it can attract a substantial user base, it may gain traction and experience significant growth. However, it is important for investors to carefully consider their risk tolerance and conduct thorough research before making any investment decisions.

DESO's unique position as a decentralized social blockchain, combined with its high-risk and high-reward nature, makes it an intriguing but speculative investment opportunity.

DESO's backers and investors

DESO, or Decentralized Social Blockchain, is a layer-1 blockchain designed to decentralize social media and scale storage-heavy apps to billions of users. It is the first blockchain to disrupt social media and the only blockchain that can power storage-heavy applications. The DeSo blockchain is supported by the non-profit DeSo Foundation, which has a $200 million treasury to support its mission of decentralizing social media.

DESO was founded by Nader Al-Naji in January 2019. Al-Naji is a software engineer with experience working at Google and the D. E. Shaw Group. He has also raised substantial funds for previous ventures, including an algorithmic stablecoin called Basis in 2017.

Some notable venture capitalist firms are backing DESO, including Coinbase, Sequoia, and a16z. The $50 million Octane Fund is dedicated to developers who want to build on the DESO network.

The DESO Foundation has established a developer fund, known as the Octane Fund, and is seeking other board members to join Al-Naji.

While there is some uncertainty and limited information about DESO, it has been described as a high-risk, potentially high-reward investment. The support of notable venture capitalist firms and its presence on major exchanges like Coinbase are positive signs. The fact that it is still in its early stages and has a relatively small community could be seen as a drawback. However, some believe that it is only a matter of time before DESO gains more traction and becomes more widely adopted.

DESO's current market performance

On the other hand, DESO has a market capitalization of $67.71 million, which implies that the asset is highly valued by the market. Additionally, the DESO community on Reddit seems to be bullish about its potential, citing notable venture capitalist firms like Coinbase, Sequoia, and a16z backing the project. They also highlight the fact that DESO has over 100 apps being built on it and that it is still in its early stages, with more developments and milestones expected in the future.

The live Decentralized Social price today is $6.32 USD with a 24-hour trading volume of $565,480 USD. The current CoinMarketCap ranking is #473, with a live market cap of $56,185,382 USD. It has a circulating supply of 8,884,536 DESO coins and a max. supply of 10,808,492 DESO coins. The 24-hour trading volume of Decentralized Social is $1.59M.

Overall, while DESO's current market performance shows a decline in price and trading volume, there are positive sentiments and expectations surrounding the project due to its unique value proposition, strong backers, and potential for future growth.

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