Social networks on blockchain. How do they work and why are they needed?
The main problems of traditional social networks are biased moderation, censorship, restrictions and blocking, outdated functionality and low level of confidentiality and security of personal information.
This served as a motivation to search for alternatives, and with the development of blockchain technologies, the first decentralized social networks began to appear.
The advantage of social networks on blockchain is that developers of such sites do not have direct control over social networks. Therefore, users of decentralized social networks are not afraid of blocking or any restrictions. Each user in decentralized social networks has the same rights to use the platform.
The first such social network was GNU Social released in 2010, which became the blockchain analogue of Twitter. To use the platform, users need to install their own server, after which they receive a full-fledged personal profile. GNU Social is still functioning, but it is not in the top of the most popular platforms, unlike Mastadon, which is similar in functionality, but appeared in 2016.
The most popular blockchain social networks are Steemit (inspired by Reddit) and Minds (positioning itself as anti-Facebook).
Their feature is their own tokens and the ability to earn them by activity on the platforms. Social networks reward interesting content with tokens by evaluating engagement, likes and other user activity.
These projects have solved the issue of privacy, moderation and security. But they can hardly be considered unique. they did not bring something new to the sphere of social networks, unlike the following example.
In 2021, the metaverse segment gained popularity in the sphere of digital assets. These are virtual worlds where users can communicate, hold various events, create their own unique items and perform various other entertainment activities.
One of the most popular projects in the metaverse segment is Decentraland. All users of the metaverse fall into one big open world. You can enter it through a regular browser, and you will need a crypto wallet to register.
In the metaverse, you can create realistic graphics, despite the fact that it works in the browser. Users can buy land, upload their content, and create NFT tokenized items and clothing. Decentraland also has its own cryptocurrency — MANA.
Such projects actively promote and develop the industry. Perhaps soon blockchain and NFT will become an integral part of the global mainstream and the founders of a new round of the digital aspect of life.