October 5, 2022 – Los Angeles, California
Today, content is hosted on centralized platforms like Twitter, TikTok or Instagram. Many thought leaders like Elon Musk and even Twitter founder Jack Dorsey call for an alternative.
Takeaways
- A novel Web 3.0 social platform called Diamond is launching on DeSo, a new blockchain that has raised $200 million from Coinbase, Sequoia and Andreessen Horowitz.
- Diamond is the first product ever to enable all posts, profiles, social graphs and content to be hosted on a decentralized censorship-resistant blockchain.
- Posts on Diamond can be minted as NFTs, earn crypto tips and other novel features.
Recently, messages emerged between the two billionaire entrepreneurs regarding a blockchain-based social media platform.
In one text exchange, Elon Musk said,
“I have an idea for a blockchain social media system that does both payments and short text messages/links like Twitter.
“[The] third piece is a Twitter-like app on your phone that accesses the database in the cloud. This could be massive.”
However, Musk may not need to create a decentralized Twitter alternative thanks to the launch of Diamond, a Web 3.0 social app powered by the DeSo blockchain.
Diamond is the first platform ever to host its content and social graph on a decentralized blockchain.
By publishing content to the DeSo chain, writers and creators can own and control their content the same way they own and control their Bitcoin. This means they can be free from censorship and gain new ways to monetize that have never been possible before.
For example, posts on Diamond can be minted as NFTs, can earn crypto tips and much more. Creators on Diamond can very easily launch social tokens that allow their followers to invest in their success ll with an onboarding that is as easy as creating an account on a Web 2.0 platform like Instagram.
Diamond’s choice to use the DeSo blockchain for hosting all of its content showcases DeSo’s unique strength in content storage.
Nader Al-Naji, founder of DeSo, said,
“Existing blockchains cannot store content efficiently. It costs about $50 to store a 200-character Tweet on Ethereum, and about fifteen cents to store it on Solana, Avalanche or Polygon.
In contrast, DeSo is one ten-thousandth of a cent, making it the first blockchain capable of disrupting storage-heavy applications like social, blogging and even marketplaces.”
In addition, Diamond’s integration of the DeSo wallet makes it possible to onboard Ethereum users as well as mainstream users.
Al-Naji added,
“The DeSo wallet supports both a one-click Google login and a one-click MetaMask login. It’s not our goal to be tied to a single chain or really any chain. We just want to allow people to connect with each other no matter what ecosystem they’re a part of. DeSo is the unified social layer for all of Web 3.0.”
This is the latest in a recent string of successes for DeSo. The platform listed on Coinbase earlier this year announced a groundbreaking MetaMask integration last week that has caused a significant price surge. It has also been experiencing a recent surge in user numbers.
In a world where many are dissatisfied with traditional social media, Diamond and DeSo offer a decentralized solution that can finally compete with Web 2.0 juggernauts.
Al-Naji said,
“DeSo is the first and only blockchain that allows developers to build social apps where you can’t even tell you’re on a blockchain. That means, for the first time, we have a shot at finally expanding Web 3.0 from disrupting finance to disrupting the trillion-dollar social media industry.”
About DeSo Foundation
DeSo is a new layer one blockchain built from the ground up to decentralize social media and scale storage-heavy applications to billions of users. They raised $200 million and are backed by Sequoia, Andreessen Horowitz, Coinbase Ventures, Social Capital, Polychain Capital, Winkelvoss Capital, Pantera and others.
DESO, the native currency of the DeSo blockchain, is listed on Coinbase.
Check out the full roadmap and claim your username here.
Contact
Ash Ghaemi, growth marketing lead at DeSo Foundation
This content is sponsored and should be regarded as promotional material. Opinions and statements expressed herein are those of the author and do not reflect the opinions of The Daily Hodl. The Daily Hodl is not a subsidiary of or owned by any ICOs, blockchain startups or companies that advertise on our platform. Investors should do their due diligence before making any high-risk investments in any ICOs, blockchain startups or cryptocurrencies. Please be advised that your investments are at your own risk, and any losses you may incur are your responsibility.
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