DeSo (short for decentralized social) is a blockchain-based platform that aims to decentralize social media and give users control over their online identities, profiles, content, and social graphs. It is the first layer-1 blockchain designed to scale decentralized social applications for billions of users. DeSo enables creators to monetize their content through crypto-native tools such as social tokens, social DAOs, social NFTs, and social tipping. It also provides developers with a gasless, permissionless, and transparent environment for building web3 social apps.
With the recent growth in the crypto market, is DeSo a good investment opportunity?
What You'll Learn
DESO's potential for growth
DESO, or Decentralized Social, is a layer-1 blockchain built to decentralize social media and scale storage-heavy apps to billions of users. It is the first blockchain that can disrupt social media and power storage-heavy applications.
DESO has strong potential for growth, and here's why. Firstly, it addresses the issue of centralized social media, where a handful of private companies control public discourse and earn profits from content they don't create. DESO puts ownership back in the hands of users, allowing them to own their identities, profiles, content, and social graphs in a censorship-resistant manner. This shift towards decentralization aligns with the broader movement towards a more open and user-controlled internet.
Secondly, DESO enables creators to monetize their content more effectively and freely. It introduces crypto-native monetization tools such as social tokens, social DAOs, social NFTs, and social tipping, empowering creators to earn from their passion. This aspect of creator monetization is a significant driver of growth as it attracts content creators seeking better opportunities to monetize their work outside of traditional social media platforms.
Thirdly, DESO is built to support storage-heavy or infinite-state applications, which opens up new possibilities for non-financial-based web3 apps. This capability is a result of DESO's ability to handle the storage and indexing requirements of social media applications at scale, a challenge that existing blockchains struggle with.
Additionally, DESO's narrow focus on social-oriented features allows it to achieve highly scalable storage capabilities at a significantly lower cost compared to general-purpose blockchains. This cost advantage is crucial for attracting developers and building a vibrant ecosystem of decentralized social applications.
Lastly, 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. This financial backing indicates a long-term commitment to the project and provides resources for development, marketing, and community growth.
In conclusion, DESO has the potential for growth due to its unique focus on decentralizing social media, empowering creators, and enabling the development of storage-heavy web3 apps. However, it is important to remember that the cryptocurrency market is highly volatile, and there are always risks associated with investing in any digital asset.
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DESO's unique features
DESO, or Decentralized Social, is a layer-1 blockchain that aims to decentralize social media and scale storage-heavy apps to billions of users. Here are some of DESO's unique features:
- Decentralization of Social Media: DESO aims to put the ownership of content back into the hands of users, rather than platforms. With DESO, users can own their identity, profile, content, and social graph in a censorship-resistant way. This allows creators to monetize their content more effectively and connect with their followers on DESO-powered apps.
- Support for Social Features: DESO supports traditional social features such as creating profiles and posts, as well as blockchain-native features like social tokens (creator coins), tipping, and NFTs. These features enable creators to monetize their content and provide new ways for users to interact and engage with each other.
- Scalability: DESO is designed to support storage-heavy or infinite-state applications, addressing the limitations of existing blockchains in handling the data requirements of social media applications. DESO's custom indexes and consensus mechanisms enable highly scalable storage capabilities, making it more affordable to store large amounts of data on the blockchain.
- Open-Source and Accessibility: DESO is 100% open-source, with all code and data publicly available. This transparency allows for greater accessibility and composability, enabling developers to build in a gasless, permissionless, and transparent environment. Additionally, all content on DESO is stored on a decentralized ledger, making it available to a growing network of third-party apps.
- Money-Nativity: DESO is money-native, allowing for new signals to rank content more effectively. For example, ranking comments based on the social token price of the commenter has been shown to reduce spam and improve the quality of interactions.
Overall, DESO's unique features aim to address the centralization of social media and provide users and creators with greater ownership, monetization opportunities, and engagement through blockchain technology.
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DESO's blockchain and decentralisation
DeSo (short for Decentralized Social) 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.
DeSo was built to address the issues with Web2 social media, including centralization, ad-driven business models, and lack of ownership. On Web2 platforms, a handful of corporations control the content and communication infrastructure for the entire internet, and users do not have ownership over the content they create.
DeSo solves these problems by allowing users to own their social graphs and content. All data posted on the DeSo network is stored on-chain and owned by the users. Users can also easily port their social graph, content, NFTs, and coins between applications built on DeSo.
DeSo is also the only blockchain that can power storage-heavy (infinite-state) applications by combining financial primitives with cheap content storage. Unlike finite-state applications, where data and storage stay constant, DeSo's infinite-state allows new data to be generated with every transaction, such as posts, likes, and follows.
DeSo enables developers to build a variety of money-native features like NFTs, DAOs, social tokens, crypto tips, and more. It also provides a decentralized wallet and identity solution, allowing users to log in to any app in the DeSo ecosystem and carry their profile, followers, content, and funds with them.
With DeSo, users can create one profile and take their identity, content, and social graph across any app. It offers censorship resistance, and users can control their content with public/private keys and end-to-end encryption.
DeSo has the potential to disrupt the social media space and bring competition and innovation to the industry. It empowers creators and users by providing an alternative to the ad-driven business model and giving them ownership over their content and data.
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DESO's advantages over competitors
DESO is a new layer-1 blockchain that aims to decentralize social media for billions of users. Here are some of DESO's advantages over its competitors:
- Empowering Creators and Users: DESO puts the ownership of content, identity, profiles, and social graphs back into the hands of users and creators, rather than platforms. This allows creators to monetize their content and connect with their followers in ways that weren't possible before.
- Scalability: DESO is built to support storage-heavy or infinite-state applications, which opens up a new world of non-financial-based web3 apps. It can handle the storage and indexing requirements of social media applications at scale, making it highly scalable and unparalleled by any general-purpose blockchain.
- Cost-Effectiveness: The cost of 1GB of on-chain storage on DESO is significantly lower than on other smart contract infrastructures. This makes it an attractive and cost-effective option for developers and users.
- Open-Source and Transparency: DESO is 100% open-source, allowing anyone to build on it and innovate. This transparency also ensures that developers won't lose access to data or APIs, as all the data is publicly available on the blockchain.
- Monetization Opportunities: DESO introduces new crypto-native monetization tools such as social tokens, social DAOs, social NFTs, and social tipping. These features provide creators with numerous ways to monetize their content and engage with their followers.
- Decentralization: DESO is designed to keep the system decentralized, even in the long run. Creators are incentivized to post directly to the blockchain, rather than to centralized apps that withhold content. This ensures that content remains accessible and decentralized.
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DESO's investment risks
DESO is a new layer-1 blockchain designed to decentralize social media for billions of users. It is the first and only blockchain custom-built to power and scale decentralized social applications. DESO treats social data as a public utility, allowing creators to monetize their content and connect with their followers on DESO-powered apps.
However, as with any investment, there are risks associated with investing in DESO. Here are some key risks to consider:
- Regulatory Risk: Cryptocurrencies are subject to regulatory changes, which can significantly impact their value. The regulatory landscape for crypto is still evolving, and any adverse regulations or restrictions could negatively affect DESO's price and adoption.
- Market Volatility: The cryptocurrency market is highly volatile, and DESO is no exception. The value of DESO can fluctuate significantly over short periods, which may lead to potential losses for investors.
- Competition: DESO operates in a highly competitive market, with other established and emerging blockchains vying for market share. The success of DESO depends on its ability to differentiate itself and attract a large user base.
- Security Risks: As with any blockchain project, there are inherent security risks associated with DESO. Potential vulnerabilities or attacks could impact investor confidence and lead to losses.
- Adoption and Community Engagement: The success of DESO relies on widespread adoption and an active community. If DESO fails to attract a substantial user base or if community interest wanes, it could negatively impact its value and long-term viability.
- Technical Challenges: Blockchain technology is still evolving, and DESO may face technical challenges or limitations that hinder its performance or scalability. Any issues with the platform's functionality or user experience could deter users and impact its investment potential.
It is important for investors to carefully consider these risks and conduct their own due diligence before deciding to invest in DESO or any other cryptocurrency. The cryptocurrency market is highly speculative, and investors should be prepared for potential losses as well as gains.
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Frequently asked questions
DeSo is a new layer-1 blockchain custom-built to decentralise social media and scale storage-heavy apps to billions of users. DeSo puts the ownership of content back in the hands of users, not platforms.
As of 24 September 2024, the Decentralized Social price is $6.70 USD. In the past 24 hours, the crypto has increased by $1.35 in its current value.
According to the technical analysis of Decentralized Social prices expected in 2024, the potential ROI is 50.4%. The maximum level that the DESO price can reach is $10.06.
DeSo is the only blockchain that can power storage-heavy applications by combining financial primitives with cheap content storage. It also supports a range of crypto-native monetisation tools, such as Social Tokens, Social DAOs, Social NFTs, and Social Tipping.