These days, centralized platforms like Twitter, Instagram, and TikTok are where content is hosted. Numerous well-known thought-leaders have demanded an alternative. Twitter founder Jack Dorsey and Elon Musk are examples of these leaders.
The Aspirations of Musk and The Recent Release of Diamond
Discussions between the two successful entrepreneurs have started. The topic of discussion is the recently found social media network built on blockchain technology.
Elon Musk has described his idea for a blockchain social media site in a text message. Like Twitter, the network would support payments and the exchange of quick texts and links. Musk continued by saying that the third element is an app for smartphones. The app connects to a cloud-based database and operates similarly to Twitter. This might be pretty significant.
It’s conceivable that Musk won’t see it necessary to create a decentralized alternative for Twitter. This is due to the recent release of a Web3 social program that uses the DeSo blockchain. Diamond is the first social network and content platform to use a decentralized blockchain.
The DeSo network allows authors and other content creators to publish their work. Their ownership and management of their Bitcoin holdings are comparable to this. As a result, they will be exempt from restrictions and get access to new revenue sources.
For instance, Diamond articles may be mined for NFTs, create crypto tips, and more. Diamond offers designers a very straightforward procedure for generating social tokens. Their supporters can share in their future success thanks to the tokens.
The onboarding procedure for all of this is clear. It’s virtually as easy to complete as creating an account on a web2 platform like Instagram.
Benefits Brought Upon by Diamond and DeSo
Diamond’s choice to host all of its content on DeSo demonstrates DeSo’s content storage expertise. The creator of DeSo, Nader Al-Naji, claims that existing blockchains are inefficient in storing material. He says, On Ethereum, holding a 200-character Tweet costs almost $50, while on Solana, Polygon, and Avalanche, only a few cents.
DeSo is the first blockchain that potentially disrupts storage-intensive applications like blogging, social, and markets. DeSo wallet integration with Diamond enables participation from Ethereum and regular users.
According to Al-Naji, the DeSo wallet allows both a one-click MetaMask and Google login. He said they don’t want to be bound to any chain or any chain at all. He said that regardless of the setting, they wanted people to engage. He clarified that DeSo is the one global web3 social layer.
This success for DeSo is the most recent in a string of recent victories. DeSo, a Coinbase-listed company, made a ground-breaking statement on its integration with MetaMask last week. The change caused a significant price hike. In addition, the overall number of users has increased significantly.
Diamond and DeSo offer a decentralized alternative to the web2 behemoths. This change will be welcomed by those dissatisfied with conventional social media. Al-Naji argues the DeSo blockchain enables programmers to develop social applications.
Users don’t need to be aware that they are using a blockchain for this to work. He says they can finally extend web3 now. The challenge will also extend beyond the trillion-dollar finance sector to the social media sector.