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Will The Blockchain In Social Media Platforms, Hit Our Lives Soon?

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Grab The List Of Blockchain Social Networks In 2020!

The Digital era has opened enormous opportunities for businesses and talents through various platforms like websites, vlogs, blogs, social media. Social media of this digital era has driven us crazy and has become part of our daily lives. Right from Facebook to Instagram, everything was started for networking purposes. But, most of the social media platforms have launched their business pages and profiles. As the famous saying, \”When the product is sold for free, your data is the valuable one!\” 

Sometimes we feel irritated by the continuous promotion calls from job sites or other banking platforms, whereas the social media platforms are much more legitimate. Even though social media apps come across our interests, they suggest profiles on our interest. However, the decision is in our hands. Most importantly, these profiles do not contact us personally! 

In recent times, Indorse, a reward-based professional social media platform, is built on the ethereum blockchain framework as an example of a decentralized social network. This platform is similar to the Linkedin site, with the difference of users are rewarded for sharing their data. 

In this blog post, let\’s take a look at how blockchain in social media works, reasons to switch for this decentralization, and take away the popular decentralized social media apps.

A flash into the blockchain in social media platforms!

Twinning blockchain in social media platforms resembles traditional social media apps in the front end, whereas the back-end architecture is built on powerful blockchain technology. The blockchain social media platforms inherit the technology\’s properties such as decentralization, transparency, security, traceability, immutability, and much more. 

Blockchain social media platforms can establish native cryptocurrencies to perform globalized transactions within the network users, rewards, crowdfunding, and other purposes. 

Let\’s explore why this decentralized social network is essential for the future!

Also Read : Blockchain in Women’s Safety on this Women’s Day

Why are decentralized social networks essential for the future?

Even though the social network is celebrated as the boon of the digital era, it has downhills. To admit it for sure! The privacy and security issues are booming as well due to the humungous user base. 

Social media apps can be streamlined and could enhance the user experience by rectifying two major concerns.

➼ Privacy & security aspects
➼ Distributing the power of controlling authority

Integrating blockchain technology aims to decentralize and secure data, thereby serving as the perfect solution for social media apps. 

Let\’s take a glance at the benefits of blockchain social media platforms in brief!

Fruits of blockchain social media platforms!

1️⃣ Data Ownership

The major concern of users while entering social media is the exploitation of their personal and professional data. The Digital era has proven that user\’s data is the most valuable asset for various businesses. Our data is what turns into valuable diamonds of centralized social media authorities. Right from our browsing history, videos, and our likes, everything is data for search engines and these social media apps. We would have browsed for a product in the search engine, but it would appear as an AdSense in social media. This is the exciting marketing technique of this digital era, whereas it becomes painful for users sometimes. 

When the blockchain is twinned into social media platforms, devoid of intermediaries, third parties, and central authorities can completely avoid this data sharing. A step ahead, the blockchain renders its users with complete control over the data. Users of the social media platforms would be offered with public and private keys to the data block. The data would be added to the network on verification through a consensus mechanism. Users can share their data block to authorized members of the network by enabling the permissions. However, as the blockchain data is stored in cryptographic hashes, with the SHA-256 algorithm, that can\’t be reversed to the input string. These features of blockchain in social media solutions make it immutable, encrypted, and private.

2️⃣ Privacy & hassle-free networking

Even though the existing social media platforms claim to be end-to-end encrypted, they are managed by centralized servers and authorities. When the centralized systems are employed in an application, it\’s prone to vulnerabilities one or the other way. The private messages interacted in every social media platform are being recorded on the servers, which could be a security threat for individuals. 

With decentralization and consensus mechanisms, blockchain integrated social media platforms allow users to experience the real freedom of networking. Some may be chaotic about the lack of governance in the blockchain framework, but arbitrators can resolve the disputes as it\’s traceable. 

3️⃣ Fundraising

Crowdfunding can be another benefit of blockchain social media platforms. Like other blockchain networks, the social media hosting framework rewards its users with the native crypto coin. These platforms can open up crowdfunding for various reasons such as business launch, health recovery, social cause, or even lending. 

Let\’s wind up by having a glimpse around the blockchain social network products!

Winding up with blockchain social media platforms!

Blockchain twinned social media platforms can open the doors for the privacy of users to a greater extent. Despite the benefits, there is the chaos behind the lack of governance among humankind, giving rise to criminal activities. Hence, employing community governance with a hybrid blockchain framework could bring up a flawless decentralized social media platform!

Takeaway the list of existing blockchain social media platforms!

➼ Mind
➼ Steemit
➼ Diaspora
➼ All.Me
➼ SocialX
➼ Earn

To explore more on blockchain space, do connect with our community!



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