DeSo is Elon Musk and Jack Dorsey’s answer for decentralized social blockchain
Takeaway:
- Jack Dorsey and Elon Musk’s Messaging requires a decentralized blockchain for social media: DeSo could be the answer.
- Sam Bankman-Fried, founder of FTX crypto exchange, also had a conversation about buying Twitter or creating a blockchain-based social network
- The DeSo Foundation has just released its roadmap for decentralizing social media
LOS ANGELES, 30 September 2022 /PRNewswire/ — The DeSo Foundation announces the release of their ambitious roadmap to decentralize social media and build The Social Layer of Web3.
Milestones on the roadmap will be executed over the next 2 quarters to solve the big problem with social media today.
“Most people don’t realize that social media is more centralized than the financial system was when Bitcoin was invented. Only a handful of companies currently control what we see and do online. We can solve this problem by decentralizing social media and storing all content on a blockchain.” so Nader Al-Najithe founder of DeSo.
The roadmap release comes as new messages appear in between Elon Musk and Jack Dorseyshows his idea for a blockchain-based social media protocol that makes payments and short text messages.
In addition, there was a conversation between Elon Musk and Sam Bankman-Fried, founder of FTX, to create one blockchain Twitter or buy Twitter outright.
However, this may not be necessary considering what is on DeSo’s roadmap.
DeSo released the first milestone on their roadmap with their MetaMask integration, which went public last week. It allows millions of Ethereum users to log into DeSo with one click. They also plan to add more cross-chain communication bridges between ecosystems.
A transition from Proof-of-Work to “Infinite Proof-of-Stake” is also in the works. Similar to Ethereum’s transition to Proof-of-Stake, DeSo Proof-of-Stake will reduce consumption and become more energy efficient.
A hackathon at a major Ivy League institution where students can compete to build the next big decentralized social network is also in the works.
The above is expected to be completed by Q4, along with a critical COO hire to help scale business and marketing operations.
DeSo is a new layer-1 blockchain built from the ground up to decentralize social media and scale storage-heavy applications to billions of users. They raised 200 million dollars and is backed by Sequoia, Andreessen Horowitz and several others.
$DESO, the native currency of the DeSo blockchain, is listed on Coinbase.
Check out the entire roadmap and upload your username deso.com.
SOURCE DeSo Foundation
