Blockchain-based social media platforms: A Comprehensive Guide
Virtual reality is a new reality, and most of us are living there. Every day, the number of social media accounts is increasing, which shows the popularity of such platforms. These platforms have become a reality today, but the fact of the matter is that they have exposed our data and information to many people who are eyeing at hacking into our personal life. This has led to increased cases of a data breach. But can there be a solution to this? Well, the answer lies with Blockchain. Although we are not claiming that Blockchain is the panacea, we can surely say that Blockchain has the potential to impact the industry differently. It has certain features that can prove beneficial for social media forums. In fact, the work is on for creating a blockchain-based social media platform. Let’s elaborate on this ahead.
Blockchain-based social media platform: Why did the need arise?
The first question that pops up is why there was a need for such a platform? Here we would like to highlight the fact that despite our growing dependency on social media platforms, we share a lot of personal information online. This makes our data vulnerable, and hence it becomes easy for hackers to attack the data. So, it becomes important to have a platform that is far safer and secure. And here comes the role of Blockchain technology. This is a DLT platform that encrypts all the information and data cryptographically. It ensures that the data remains safe and secured and free from data threats.
It is because of this reason that companies like Facebook are exploring how they can use Blockchain technology for their benefit.
What is Blockchain social media?
In simple words, it is a decentralized platform that is built on blockchain technology. It offers end-to-end encryption for every information exchange. It also offers features like
1. Rewarding the user
2. Crowdfunding
3. In-platform transactions
So, here we bring you some of the popular blockchain-based social media platforms:
Society2 on IOTA: It is a new social media platform, which is based on IOTA. This platform offers greater control over the data and enhances security. Moreover, the user can also earn IOTA tokens by viewing ads, and the developers can use this platform to develop apps.
Voice on EOS: It is a new social media platform based on Blockchain, which allows the distribution of crypto rewards to content creators, while they focus on transparency. This platform aims to stop fake news, dishonest promotion and bots.
Reddit Ethereum points: Reddit already has a blockchain-based reward system called karma. Reddit also announced an Ethereum-based reward system. This will help in the direct distribution of the cryptocurrency to the user.
Quick info that we want to share here is that only Hive is available to the general public, while beta users are testing the Voice platform. So, we have to wait for more of these platforms to become public.
Conclusion
Blockchain is the future, with faster processing of information and data, it becomes easier for the user to use this platform. In the times to come, we are going to witness some more uses of Blockchain technology. If you are willing to become a Blockchain expert, then this is the right time to enrol for a Blockchain certification program by Blockchain Council.
