DESO announces $ 1 million money for the establishment of a decentralized Reddit competitor to address criticism of centralized social media platforms

DESO announces $ 1 million money for the establishment of a decentralized Reddit competitor to address criticism of centralized social media platforms

DESO, a decentralized social media system that uses blockchain technology, has announced a bounty of $ 1 million in order to promote the development of a Reddit competitor based on the native blockchain technology of the platform.

The decision to suspend such a bounty is a possible solution for the growing criticism of centralized social media platforms that fight with problems such as limited API access and censorship controversy.

DESO states that this “unprecedented chance” is created in a time of increasing dissatisfaction with centralized social media platforms that monopolize content and data. The platform reacts to concrete cases such as Reddit's recent API access restrictions, which led to a protest in which numerous subreddits were blocked for 48 hours. The increasing API costs have also led to third-party developers to give up their applications.

Twitter was also criticized for a change in the guidelines, in which reading restrictions for newly created and verified accounts were introduced. This change caused concerns about user control, censorship and manipulation of the system.

DESO aims to completely save user identities, profiles, content and social networks in the blockchain. The founder of Deso, Nader al-Naji, is of the opinion that there is a greater social change, in which users prefer platforms that give them autonomy about their content and their social network.

The Deso-Blockchain offers various monetization tools such as Creator Coins, NFTS, tokens and drinking money, with which users and moderators can have their content directly and monetize. The concept that DESO presents aims to promote a more democratic and user-centered online community.

The question of whether the development of decentralized social media is important raises possible changes in the way online communities interact. Decentralized networks offer users more control, property of content and opportunities for monetization. They create a more democratic environment and arrive censorship and manipulation problems. In contrast, companies often check centralized social networking platforms and there is central authority.

However, decentralized social networks can also pose risks because they are largely unmodernized. Cyberbullying, political misinformation and even criminal activities could increase in such environments.

Deso hopes for ambitious founders and builders who want to make sustainable changes in social media. The bounty of $ 1 million is intended to promote the development of a Reddit competitor based on the DESO platform and offer an alternative, decentralized solution for the problems of the centralized social media platforms.