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DeSo is Elon Musk and Jack Dorsey’s answer to the decentralized social blockchain

Los Angeles, CA, October 3, 2022, Chinwire

Takeaway:

  • Jack Dorsey and Elon Musk letters call for a decentralized social media blockchain: DeSo could be the solution.
  • Sam Bankman-Fried, founder of the FTX crypto exchange, also had a conversation about buying Twitter or creating a blockchain-based social network.
  • DeSo just released a roadmap for decentralizing social media

The DeSo The Foundation announces the launch of its ambitious roadmap to decentralize social media and build social stratum for Web 3.

Milestones will be implemented on the roadmap over the next two quarters to solve the major issue with social media today.

“Most people don’t realize that social media is more central than the financial system when Bitcoin was invented. Only a few companies currently control what we see and do online. We can solve this problem by decentralizing social media and storing all content on the blockchain. “. He said Nader Al Najifounder of DeSo.

The release of the roadmap comes as new messages emerge between Elon Musk and Jack Dorsey, showing his idea for Blockchain-based social media The protocol that performs payment and SMS.

The two billionaire entrepreneurs discussed how Twitter would be better off as an open source protocol funded by an organization rather than a company. Dorsey lamented making Twitter a company, calling it an “original sin.”

The Foundation’s role in an open-source, blockchain-based social network is to fund its development and promotion.

Elon Musk called it a “very cool idea” and offered her help. However, once Dorsey failed in his attempt to get Musk on the Twitter board, he eventually left the company.

Additionally, there was a chat between Elon Musk and Sam Bankman-Fried, founder of FTX, about creating a file Twitter blockchain Or buy Twitter directly.

However, this may not be necessary given DeSo’s foundations roadmap and applications emerging from its ecosystem.

DeSo released the first milestone in the roadmap with MetaMask integration, which was launched last week. It allows millions of Ethereum users to login to DeSo with a single click. They also plan to add more bridges of communication across the chains between ecosystems, including the Solanas Phantom portfolio. Other potential integrations include Cardano and NEAR.

Work is also underway to move from Proof of Work to ‘Infinite Proof of Stake’. Like Ethereum switching to Proof-of-Stake, DeSo Proof-of-Stake will reduce consumption and become more energy efficient.

A hackathon is also underway at a major Ivy League institution where students can compete to build the next great decentralized social network.

The above is expected to be completed by the fourth quarter of the year, along with the appointment of a significant COO to help expand business and marketing operations.

Many experts predict that decentralized social media will be the next huge market opportunity, which has been evaluated by the best crypto research firms. DeSo ranked first in my path Seven more analyzes of cryptocurrency trends due to the addressable mass market.

In the next decade, social media is expected to attract 6 billion users and is worth trillions. The blockchain-based social network will strongly attract 50 million content creators in today’s economy who are always looking for new platforms; The creative economy is currently worth $100 billion.

DeSo has several social media apps emerging from its ecosystem that directly appeal to the creative economy, including Blockchain-based Twitter An app where people can monetize diamonds.

About the Deso . Foundation

DeSo It is a new Layer 1 blockchain built from the ground up to decentralize social media and scale heavy storage applications to billions of users. They raised $200 million and supported by Sequoia, Andreessen Horowitz, Queen Piece Ventures, Social Capital, Polychain Capital, Winkelvoss Capital, Pantera, and others.

$DESO, the original currency of the DeSo blockchain, is listed on Coinbase.

Check out the full roadmap and request your username at deso.com.

Contact
  • ash
  • DeSo . Foundation
  • ash@deso.org
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