Decentralized Social

Decentralized Social

Decentralized Social DESO Rank #280

Invest in Decentralized Social (DESO) Token - Project explained, price and reliability

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What is DeSo? DeSo is a new type of blockchain designed to power decentralized Web 3.0 social networks. Since its creation in 2019, DeSo has aimed to solve the problems created by the current centralization of social networks. Today, a handful of private companies effectively control public discourse, reaping monopoly profits; meanwhile, the creators who actually produce the content are often underpaid and underinvolved. In contrast, the DeSo social blockchain treats social media content as a public utility, making it unauthorized and available to anyone. DeSo combines the paradigm of the open P2P financial system offered by cryptocurrencies with an efficient and scalable database infrastructure, designed to offer the next generation of Web 3.0 social networks. Today, there are over a hundred apps built on the DeSo blockchain, including Diamond, NFTz, Polygram, DeSo Messenger, Cloutfeed, Supernovas, and more on the DeSo list. For more information, be sure to check out the vision behind DeSo. Who are the founders of DeSo? DeSo was founded by Nader Al-Naji in January 2019. After graduating from Princeton University, Al-Naji worked as a software engineer at D.E. Shaw Group and later at Google on the Google Search and Google Ads teams. Prior to DeSo, he raised more than $133 million to launch an algorithmic stablecoin Basis in 2017. The DeSo blockchain is supported by the nonprofit DeSo Foundation, whose broad mission is to support the decentralization of networks. social. Al-Naji is currently the chairman of the board of the DeSo Foundation, with $200 million in treasury to support his mission. In October 2021, the DeSo Foundation announced a $50 million developer fund, known as the Octane Fund. What does DeSo Unica do? The DeSo blockchain supports not only traditional social features such as creating profiles and posts, but also new native blockchain features such as social tokens (creator coins), tips, and NFTs. These features open up broad new categories of money-enabled products, from NFT social experiences to influential stock markets. These features allow creators to more effectively monetize their content and connect with their followers on DeSo-based apps. Since DeSo treats social data as a public utility, creators aren't tied to a handful of centralized apps. All DeSo content is stored on a decentralized ledger and is immediately available to a large and growing network of independent third-party applications, similar to DeFi applications on the Ethereum blockchain. The biggest advantage of DeSo lies in the fact that it is not a generic purpose blockchain. Instead, it supports a limited set of social media-oriented features that it implements in full hardware, using custom indexes that each node creates during consensus when it syncs with its peers. This allows the DeSo blockchain to achieve highly scalable storage capabilities that no generic blockchain can match. For example, the cost of 1 GB of on-chain storage in DeSo is only 1 DeSo, while even the best existing smart contract infrastructures require millions ($1,000,000+) of dollars to achieve the same. DeSo also announced a move to a proof-of-stake consensus by the end of 2021, which is expected to achieve throughput of hundreds of thousands of transactions per second, thanks to the strictly defined transaction scheme.