Content is and always has been king! In today’s world, content in its vast majority has been stored on hosted platforms like Facebook (now Meta), Twitter, Instagram, or TikTok. With the rise of Web 3.0, many have predicted the turnover of content hosting from centralized platforms to DE-centralized - this call for an effective alternative, has been voiced by so many thought leaders, including Elon Musk and even Twitter founder Jack Dorsey.
In a text message recently exchanged, the two billionaire entrepreneurs discussed the need for a blockchain-based social media platform.
Elon said, “I have an idea for a blockchain social media system that does both payments and short text messages/links like Twitter.” He continued, “Third piece is a twitter-like app on your phone that accesses the database in the cloud. This could be massive.”
Musk may have spoken too soon, since the need to create a decentralized alternative could prove obsolete, as the DeSo-powered Web3 social app called Diamond has officially launched and is exactly what crypto-social fanatics have been anticipating.
Diamond is the first platform (ever) to host its content & social graph on a blockchain, leveraging the DeSo ecosystem, which uniquely sets itself apart from competitors in the Decentralized Social Space.
Data storage and publishing has been a prominent challenge for decentralized social platforms and this structural anomaly actively affects the performance as well as the overall capabilities of these platforms. Diamond on the flip side manages to efficiently handle this by leveraging DeSo blockchain’s ecosystem which is specifically designed for content driven solutions.
Diamond enables its creators to create content and have full control over it, similar to how they would have full control over their cryptocurrencies. This allows censorship-free ownership and a plethora of new ways to monetize their content, in ways that were otherwise not possible.
For example, creators can easily mint their posts as NFTs, and earn tips from their fan following and communities. Fans are also able to invest in creators by purchasing their social tokens, thereby enabling them to grow and gain profits during the process. The best part - signing up is as easy as creating a profile on Instagram - a web2 platform.
Diamond’s choice to use DeSo blockchain for hosting all of its content doesn’t come as a surprise given that DeSo is the leading Layer-1 blockchain built from the ground up to scale decentralized social applications. DeSo founder, Nader Al-Naji says, “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 to DeSo’s unique mission to scale storage-heavy applications, Diamond’s integration of the DeSo wallet now enables instant onboarding for Ethereum users and mainstream users alike. Al-Naji says, “The DeSo wallet supports both a one-click Google login and a one-click MetaMask login.” He says, “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 web3” he says.
This milestone marks yet another success for Deso. The platform listed on Coinbase as of early 2022, announced that its team completed their long-awaited MetaMask Integration which resulted in a noteworthy surge in price as well as users.
In an ever-evolving world where users are discontented with the traditional social media, Diamond and DeSo pushes the envelope bringing forth an innovative approach to decentralized social that can stand its ground against the current web2.0 giants. “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 web3 from disrupting finance to disrupting the trillion-dollar social media industry.”, says Al-Naji.