The DESO Blockchain

I want to start this article off by stating that this is not intended to be a shill, it is simply my opinion.

Today I want to write about a Blockchain project I've been following and using for roughly 2 years. The DESO Blockchain is the first layer 1 blockchain built to decentralize social media and scale storage heavy apps for up to billions of users. I believe that this project has the potential to change the game for creators & businesses that have had to rely on advertisment models to generate revenue. Most of us have social media accounts but we have never been able to earn easily. Decentralized Social is what changes that.
I have studied the SocialFi space for a couple years, and tried numerous decentralized & centralized social options that give creators a way to monetize, and in my honest opinion none of them compare, which is why after all this time I've chosen to write about the DESO Blockchain from an active users perspective.

Scaling Decentralized Applications: Many general purpose blockchains boast about their ability to scale thousands of transactions per second, scaling up storage per second is a completely unique problem. Blockchains such as Ethereum, Solana, Cardano, & Polygon to name a few, are not equipped to deal with the indexing and storage demand social media applications present. Storing posts on the Ethereum Blockchain could cost as much as $50, meanwhile even blockchains such as Cardano or polygon would cost 10s of cents per post. The blockchains are not ideal solutions for powering storage heavy Dapps.

Centralized Social Media Bites: Social media is burdened today because it is even more centralized than the financial industry is. Today social media is effectively owned by a small handful of private companies that earn insane amounts of profit off of content they don't even create, while controlling public dialogue. The creators of the content are the ones who ultimately suffer, often without their realization. They are underpaid due to advertisement driven business models, which also force social media companies to gate the content hosted on their platforms. This is maintained to keep external developers from being able to build off of their code, which keeps the monopoly in effect by eliminating competitors and keeping creators on apps they control. Pair this with an inability to fight problems such as freedom of speech & press and it is really quite a gross underbelly to centralized social media. DESO has the ability to decentralize social media the same way that Bitcoin is decentralizing the financial system. The same technology that created a way to store transactions on a public ledger no entity could financially control can be expanded to run a social network without depending on a centralized monitor.

Giving Creators Access to Monetization Tools: Right now there are multiple projects running nodes and building on top of the DESO Blockchain. DESO stores all of its data on a public blockchain, so anyone in the world can run a node that exposes their own curated feed. The most notable projects right now ( I actively use each of these as well).
Diamondapp: https://diamondapp.com
Diamondapp is essentially a twitter clone with many unique features. On Diamondapp every creator has a social token ( a concept which has been replicated numerous times recently most notably with friendtech). When creating a profile every creator has their own social token which can be bought or sold by others at any time. Every creator can set a founder reward once they've bought their own token ( when creating a profile, you're founder reward will remain at 100% until you've decided to lower it.) It is highly recommended that one doesn't sell their Creator Coin, as this is basically a social credit score or reputation marker. The higher the coin price, the higher ones reputation is on chain essentially. If you gain investors and then decide to rug pulls them, you will be labeled a scammer, and you won't succeed on DESO.
This is because there are other ways to directly monetize from your fanbase here.
On DeSo you can tip any creator a specific amount of diamonds on any of their content. This encourages organic & thoughtful content as the goal is to earn tips for your posts.
You can also turn any post into an NFT on Diamondapp. This is great for anyone who creates art, music, writes, or has a business they are developing. In a nutshell, this is basically like OpenSea, but if it had an engaging social feed you could interact with and spend $ in. Ideal for practically anyone.
Other popular nodes include
https://desocialworld.com
https://nftz.me
https://openfund.com
Openfund allows all of the above listed features as well as the ability to create a unique DAO (Decentralized Autonomous Organization) but I will get more into that in a different article. DESO is currently tradable on coinbase & it can also be purchased on the decentralized marketplace megaswap.xyz

This is an introduction article not here to discuss coin price or analysis, but simply to inform and educate about a Blockchain project I believe shows immense potential. Feel free to check out DESO and if you do create an account be sure to follow me there!

https://diamondapp.com/u/TheETHNomad
https://diamondapp.com/u/NomadLands

I hope you enjoyed the article, thank you for reading! 😎 Have a good evening Bulb Community 💡 ✌️