Social media platforms have played an increasingly important role in connecting people and providing new ways to share information quickly and efficiently since the introduction of the internet into our lives. Social media has become a huge part of online life and the economy. Facebook, Twitter and Google generate trillions of dollars in revenue. Now, in addition to these social media platforms, blockchain-based social media networks that allow sending crypto money or NFT are spreading rapidly. Moreover, thanks to these networks, crypto money can also be earned.
Big companies are increasingly controlling posts on social media platforms. While some social media platforms restrict user posts under the guise of “protecting communities”, others generate income by displaying unwanted advertisements. However, a rapidly growing industry in recent years allows people to share data with each other without being subject to such restrictions. We are talking about social media platforms built on blockchain applications and protocols. In blockchain-based social media platforms made by social media entrepreneurs, users can avoid restrictions by keeping the content they will share in a blockchain’s immutable ledger.
Because blockchain-based social media networks are decentralized, these networks do not have a central private authority responsible for all data. Instead, data is distributed in a homogeneous and decentralized manner among servers on each network node. In this way, data can be sent to desired places without being subject to restrictions and obstacles. Since there is no central authority, the flow of crypto money or NFT can be done without being subject to any restrictions.
SOME OF BLOCKCHAIN BASED SOCIAL MEDIA NETWORKS
There are many blockchain-based social media platforms. One of them is Torum. Torum is one of the ad-free crypto social media platforms. Torum, which has a mix of Twitter and Facebook, also has its own token to reward active users. People can gift coins to other users for quality content on this platform.
In addition, this network offers LinkedIn-like pages to companies focused on their own goals. On these pages, team members working in the same company can add each other, share posts on the company page, and interact with other users or companies using the company page.
Another blockchain-based social media platform is Minds. Founded by Eron Wolf, founder of Yahoo Games and seed investor of Whatsapp, Minds allows people to speak freely and earn cryptocurrencies. This open source social network does not extract user data for advertising purposes and focuses on privacy. You can also earn crypto money with Minds. When you post a post or interact with other people’s content, you can earn coins based on what you do.
Blockchain-based social news network Sapien emphasizes user privacy and high-quality content. The platform allows users to generate and disseminate discourse on a range of topics while still maintaining control over the data they share. Sapien uses blockchain technology to create a decentralized social networking system that supports high-quality content and prevents spam and misinformation. Users can create customized news feeds and have conversations with other users who share their interests.
Peepeth, a blockchain-based microblogging platform, looks like Twitter. Peepeth’s approach and mission to monetization is very different from previous free networks. Peepeth is based on the Ethereum network and you also need to install some Ether to use it.
Steemit is a platform for user-generated content and community creation that blends blockchain technology, social media and cryptocurrency. Content is created and edited on the network in exchange for Steem tokens. Steemit, one of the leading blockchain social networks of all time, was also built on blockchain. The platform includes elements similar to Facebook and Reddit in terms of functionality. In addition to these, there are many blockchain-based platforms such as Diaspora, D.tube, Verasity, Ignite, Flote.
Sources: Cointelegraph, LinkedIN, Eescorp
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