A Guide to Blockchain Based Social Network
What is a Decentralized Social Network?
A Decentralized Social Network (DSN) is an open-source website or application that is not controlled and operated by any centralized group, organization or individual. It provides people from around the world a platform to connect, communicate, and share information, photos and videos freely.
Decentralized Social Network stores all its data on a decentralized ledger, commonly on a blockchain that is a chain of blocks and requires consensus of the entire network to allow recording of new transactions chronologically. No one including the creators can modify transactions that were recorded because it will not get past the protocol’s chronological rule. Hence, there will be no censorship of posts since there is no centralized administrator with the access to do so.
Tokens to Incentivize Users
DSN commonly uses cryptocurrency tokens to incentivize users for participations or positive behaviors and to provide users an option of using digital currencies to do asset trading. Those tokens are either new native tokens created together with the platform or any established cryptocurrency coin from the global market, for example, EOS. Truly decentralized cryptocurrency uses blockchain for its transactions, hence is widely considered to be safer and more transparent as compared to conventional payments. Users will not need to worry about fraudulent credit and debit cards.
Centralized social platforms hosting our social network and data have a working team and leaders that are not publicly elected. Their priorities are to serve the centralized organization not to the common users. Centralized platforms are very difficult to be publicly audited and hence cannot be held accountable by its users. Decentralized social network is more democratic, users and token holders usually have some rights to vote for changes and governance of the system. If users realize that particular system change will not benefit the community, they can vote the proposal down.
No individual or group controls the social platform, so that means no one can collect users’ data and sell them to advertisers (commonly done by major social media platforms) except by the users themselves. Users own their data completely and have the power to choose what they want to do with it, for example, export or sell it.
Users can choose to move their identities and data from a decentralized social media platform to another application freely because as mentioned above they have full ownership and control over their digital assets. In contrast, most centralized systems prevent other apps from using their data hence users will not be able to port their centralized data elsewhere.
No Bias in Curation of Contents
Most centralized social network platforms are algorithmic biased in the curation of contents to benefit the businesses, not the common users. But this will not happen on a decentralized social media platform because no individual or group has the power to control the curation of its contents.