Sunday, February 28, 2021

IOTA-Based Decentralized Social Platform Released

A social platform that promises to give the users control over their privacy and content ownership, powered by IOTA, Society2 has been launched.

This newly launched social network uses the distributed ledger technology (DLT) of IOTA, to offer its users a competent alternative to centralized social platforms.

The social media is targeted at giving control of personal data, social media content, and communication back into the hands of users.

Increase in Social Platform across the World

In this new age, there has been an increase in the number of social platforms, both minor and major. The most popular among them include Facebook, Instagram, Weibo, WeChat, and a host of others. Below these majors are countless uprising social media across diverse regions.

All the above mentioned are centralized, i.e. no privacy. Data are easily exposed and traded, which calls for decentralized social media such as the newly launched Society2, where vital information is controlled by the users.

According to a report, this new social media powered by IOTA will give users the enablement to choose their level of privacy. All data shared on the platform are automatically stored on IOTA’s cutting edge Tangle network.

Moreover, users also are given the freedom in choosing to view advertisements according to their preferences. And a payment system has been built on the network, which enables profit sharing between content creators and users.

Also, it’s notable that a lot of blockchain and cryptocurrency projects are adopting the initiatives of building decentralized social platforms, where users could earn their native tokens.

A good example of this is the launch of Voice Beta by Block.one, the firm behind the development in the EOS ecosystem. Also, Bitfinex recently launched its native social platform named Bitfinex Pulse.

Obviously, such a development is just starting in the cryptocurrency and blockchain ecosystems. More crypto projects are still expected to come up with ideas that will fully decentralize systems across the world.

Tobi Loba
Tobi-Loba is a creative and an award-winning writer with over 5 million readers from all over the world. She has B.A in English and Literature from a reputable University and currently studying for her M.A in the same field. She recently became a contributor at Herald Sheets in order to satisfy her thirst in reporting crypto and blockchain occurrences, the interest she built over the years.

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