Decentralized social media: The next big thing in crypto?
2022.04.07 17:36
Decentralized social media: The next big thing in crypto?
NFTs and the Metaverse are the hottest topics in the cryptocurrency ecosystem right now, but the next big thing might just be decentralized social media. Like decentralized finance, decentralized social media platforms dont have a centralized governing body and may, someday, provide viable alternatives to established platforms like Twitter (NYSE:TWTR), Instagram, Facebook (NASDAQ:FB) and TikTok. The technology is currently evolving just beyond the embryonic stage of development.
Yung Beef, or YB who serves as content lead and community manager at Subsocial says that centralized social media platforms are unfair to community members and content creators. It seems pretty obvious that centralized social networks are susceptible to lots of shady stuff, with the mystery algorithms controlling what people see, people getting shadowbanned or banned outright for whatever reason, etc. And it just gets worse when you factor in that a lot of people earn their livelihood on these platforms and their food bill is totally at the whim of the central authority.
How does it all work?
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