DeSo

DeSo is the native cryptocurrency that powers the Decentralized Social blockchain supporting decentralized social media applications development.

Overview

The goal behind cryptocurrencies is to take back power from established centralized systems. Bitcoin came along to challenge the banking system, and now, DeSo plans to do the same with social media.

DeSo is a blockchain created to power decentralized social networks in Web 3.0. It empowers creators and publishers on various decentralized social media apps, crypto enthusiasts who believe in the decentralization of social media, and even regular investors. 

DeSo is similar to an evolved bitcoin node, capable of handling various transaction types than just sending and receiving money. It also has a large storage capacity, and thanks to tailor-made indexing logic, DeSo can support social features at scale.

The DeSo blockchain is essentially an open protocol that anybody in the world can contribute to, which the team believes will eventually lead to even more opportunities for creators to reach their full potential while also returning competition and innovation to social media.

Product Details

DeSo aims to eliminate content gatekeeping and remov the censorship caused by private social media companies. DeSo puts social media content on the blockchain rather than in the hands of a few private companies. This generates a scale economy that can compete with, if not outperform, today’s social media behemoths. DeSo also addresses the problem of collective action among independent publishers by offering incentives that’ll convince them to publish their content to a new globally shared pool. A single corporation doesn’t control this shared pool, nor can it censor what creators choose to post. DeSo creates a level playing field in the social media space. The DeSo team built the protocol from the ground up to allow cheap and fast social interactions. 

DeSo’s social blockchain treats media content as a public utility, making it 100% open-source. Each user’s profile on DeSo is entirely under their control, giving them unmatched control and privacy. DeSo is the first 100% open source social network with open code and open data, which it enters into the public DeSo blockchain. As a result, monopolistic social media platforms will eventually be a thing of the past. Anyone with access to content and a considerable following can create a social network on the chain.

DeSo’s native on-chain features make it possible for creators to monetize their content in various ways. Three products change how DeSo users monetize their content: social tipping, social tokens, and social NFTS. Every DeSo profile has its own coin, which anyone can buy and trade. These coins are known as “creator coins,” and you can get yours by creating a profile. . These tokens generate cash flows through NFT sales. 

DeSo ties tipping with content posting and monetization in ways that no other social networking solution does. It works via a mechanism called “diamonds.” Diamonds are similar to likes you get on centralized social media platforms except that it allows users to give random amounts of money for each like a creator receives. So for every like on their post, creators can earn anything from $0.01 to $1,000 in diamonds.

DeSo is not an all-purpose blockchain making it easier to scale. Instead, DeSo implements a limited set of social-oriented features on bare metal, employing custom indexes that each node creates when syncing with its peers. As a result, it is orders of magnitude quicker than general-purpose blockchain, which passes all functions through a virtual machine. 

DeSo stores everything on-chain to stop it from ending up as yet another centralized social ecosystem. The DeSo blockchain currently hosts over a hundred projects, none of which is possible without DeSo’s commitment to putting everything on-chain. For example, DeSo can store user profiles, likes, follows, comments, posts, social token activity, NFT activity, private messages between users, all $DESO transactions, and more. 

DeSo currently runs a hybrid proof-of-work model but plans to move to a proof of stake consensus mechanism. DeSo presently uses a hybrid Proof of Work consensus mechanism that uses considerably less energy than Bitcoin or Ethereum while still safeguarding against 51% attacks. However, the DeSo team plans to switch to a proof of stake protocol in the nearest future. 

DeSo gives creators the freedom to invent features they feel will benefit their users. The DeSo ecosystem lets you develop features that may be unavailable, such as voice messaging, dark mode, etc., and run your node back to it. You can also build apps on the DeSo blockchain, and today there are over 200 apps built on the Deso blockchain. 

Apps on the DeSo blockchain are diverse and have equally varied functions such as hosting live events exclusive to coin holders, sharing your location, setting up an avatar for your social profiles, and lots more.

$DeSo has a fixed supply of $10.8 million, with founders holding less than 20% of the supply. No single entity, excluding the founders, can own more than 5% of the supply. $DeSo was distributed using a bonding curve, which allows for a predetermined and fixed price discovery mechanism written in blockchain that is safe from manipulation. A fixed supply means that DeSo is deflationary, thereby reducing market supply and increasing scarcity and demand.

Recap

DeSo, formerly known as BitClout, is (which used to be known as BitClout), is a perfect example of the potential of Web 3. The system is based on token economics, and it was created to assist content providers in getting paid what they fully deserve. DeSo assets are managed via digital wallets similar to Samourai or MetaMask. 

DeSo’s mission is to become the most popular social network. It plans to achieve this by providing individuals with decentralized tools to interact on a social network. 

DeSo is a fully decentralized system, which means there are no servers through which a hacker could gain access to the system or launch a DDoS attack. The DeSo blockchain uses a combination of BitTorrent protocols and Trusted Timestamping To ensure effective information delivery without relying on a single trusted third party,