Decentralized Social (DESO), the native cryptocurrency powering the blockchain platform designed to support a wide variety of decentralized social media applications, is now available on Coinbase. According to a blog post, Coinbase customers can now essentially trade, send, receive or store DESO and use it to purchase “social tokens” and non-replaceable tokens (NFTs), and to create profiles and posts for decentralized social applications. The layer 1 blockchain project aims to provide scalability to social media applications for up to one billion users.
DESO uses a token-based system on the Ethereum blockchain. This means that DESO tokens can be exchanged between peers and used as payment for microservices within the network, such as posting content, tagging other users, commenting and liking posts.
DESO tokens can also serve as a tool to incentivize user behavior that promotes the network or as a way to access special features within the DeSo network. For example, after a certain number of comments are made by different network members, those members can use their DESO tokens to unlock the ability to create polls within their posts.
Decentralized social networks are different from the popular ones we’re used to in that they run on servers running independently, rather than on a centralized server owned by a single entity. Mastodon is an example of a decentralized social network. It is based on open-source software and is very similar to Twitter. Another example is Steem, which runs on a social blockchain. Blockchain technology allows data entry to be stored on servers around the world. It promotes transparency as the data can be viewed in near real time by anyone on a network.
Decentralized social networks give users more control and autonomy. An individual can set up their social network and determine how it works and what users can say. Instead of having content controlled by a company, the founder of a decentralized social network can establish the conditions of acceptable behavior for the site.
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