Breaking the Monopoly: How Decentralized Social Media is Changing the Game

Picture this – a world where your data is completely safe, your privacy is respected, and your interactions online are completely democratic. Sounds too good to be true, right? Well, with the advent of decentralized social media, this world is now within our reach. Such social networking platforms are built on decentralized infrastructure, powered by blockchain, peer-to-peer networks, and distributed ledger technologies. Thanks to them, you can interact with others in a more secure and democratic environment.

Current state of affairs

Centralized social media have been plaguing us for too long. Here are the four key reasons why we should embrace another approach to our social media activities:

• Paying with your privacy

You might think that social media is free, but in reality, you are paying with your privacy and time. Big tech companies make billions of dollars by selling your data to private organizations for their own motives, while simultaneously bombarding you with targeted ads that follow you everywhere you go online.

• Banishment and removal of accounts

Imagine building a loyal following on social media for years, only to have it all taken away from you with the click of a button. Major companies have the power to ban and remove accounts at their own discretion, regardless of how much you’ve contributed to their platform.

• Censorship and the death of free speech

Every human being has the right to express their views without interference or regulations. However, with centralized social media, this freedom of speech is often squashed by biased algorithms and the company’s own agenda. They can delete your content and even suspend your account if they don’t agree with what you have to say.

• Biased algorithms and echo chambers

Closed-source algorithms can create a biased view of the world that only affirms our existing beliefs, leading to social unrest and conflicts. This one-sided view of things can even be dangerous if left unchecked.

Web3 – a way out of the Crisis

Imagine an internet where you can not only read and write, but also POSSESS your data. That’s what Web3 is all about – the trustless and permissionless internet of the future, running on blockchain. And in this new world, the power is in YOUR hands, not some big corporation.

With Web3, technology is taking a giant leap forward. No more worrying about being de-platformed or censored. You have complete control over your content and your followers. And if you’re a creator, get ready to monetize like never before. NFTs, Social Tokens, and built-in tipping are just the beginning of a new creator economy.

But it’s not just about the money. Web3 offers something even more valuable – portability. No more starting from scratch every time you sign up for a new platform. As decentralized social media and blockchain go hand in hand together, you’ll never have to worry about losing your followings or your startup being taken down.

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The need for decentralized social media apps

Here are five compelling reasons why we should embrace this innovation:

• Data privacy

Decentralized social media gives you the right to control your data, and that’s essential. Centralized platforms may mine your data without your consent or knowledge, but decentralized ones give you the power to choose how your private information is used and shared.

• Censorship resistance and the freedom of speech

Have you ever been censored or banned for expressing your opinion? An unpleasant situation, isn’t it? But there is a solution to this problem. Decentralized social networks are resistant to censorship, as there’s no central authority controlling what you can or can’t say. So, in this new striking world, censorship is a thing of the past. 

• Power imbalance

It’s time for a level playing field. Centralized social media platforms give the owners too much power and control over your online experience. When the system is decentralized, it allows you to assume control.

• Trust and security

Everyone wants their data to be secure. Centralized platforms have been plagued by data breaches and other security issues, leaving you vulnerable. Decentralized social networks leverage blockchain technology, ensuring that your data remains safe and secure.

• Innovation and competition

It’s time for something new. Centralized platforms have had a stranglehold on the market for far too long, stifling innovation and competition. Decentralized social media platforms allow for new ideas to flourish and competition to thrive, giving you a better overall experience.

• Monetization opportunities

Decentralized social media and crypto are related topics. Pioneering solutions present novel ways for creative people and users to make money from their content, such as through cryptocurrencies and NFTs. A whole new world of earning potential is at hand.

Three platforms to pay attention to

And here are three successful examples to follow:

Diaspora

Back in 2010, when social media were still relatively new, Diaspora emerged promising to give Facebook a run for its money. 

Unlike Facebook, which gorges on your data like it’s an all-you-can-eat buffet, Diaspora gives you total control over your information. You decide who sees what, and your data is stored in pods scattered across the world, not in some centralized hub where Big Brother can peek over your shoulder.

And the coolest part is that you don’t have to sacrifice user-friendliness for privacy. Diaspora’s interface is as easy to navigate as it is to keep your data safe. And with over 859,000 users, it’s definitely no ghost town.

Steemit

Back in 2014, Steemit emerged to rewrite the rules of the game. How so? Through granting STEEM, its own cryptocurrency, to active users as a reward.

But it’s not as easy as it sounds. If you want to cash in, you’ll have to bring your A-game. Merely voting won’t cut it. You need to show your worth by crafting unique and captivating posts that spark engagement and inspire conversation. The more you create, the more valuable your vote becomes, and the higher your status within the community.

Only1

This innovative network is shaking up the social media world with its alternative NFT-powered protocol that operates on one of the fastest blockchains in existence, Solana. The platform deviates from the conventional models we’re all too familiar with on apps like Facebook and Twitter.

Utilizing this solution, content creators can establish direct connections with their followers. They can create and sell content with no middlemen and offer their audience the chance to interact with their work using NFTs.

With Only1, you can be rewarded for all your hard work, and your followers can show their appreciation by using the app’s own currency, $LIKE. 

Wrapping up

The future of social media is decentralized, and it’s an exciting time to be a part of this transformative movement. As more businesses and individuals become aware of the benefits of the new pioneering media, we can expect to see continued growth and innovation in this space.

If you need assistance developing a robust platform, partnering with a trustworthy IT company delivering media solutions is the right option. Experienced developers will help you turn any bold idea into life.