Decentralized media is fairly a new gateway for many artists and creators to get their ownership back and reduce third-party interference. Before decentralization normally, creators and artists have to go through a certain level of regulations to showcase their talent and their content is sold out to other parties but the issue is content creators get low profit due to the intervention of the third party. With the help of decentralized social media, there is no need for third parties and content creators have their own back they directly contact their users.
It is also beneficial for the consumers they can choose content according to their interests and also make some interest groups in which they can vote. Now consumer data can not be hacked or misused without permission and also don’t need to follow a certain algorithm, they have control over their data.
DECENTRALIZED MEDIA
BLOCKCHAIN AND Flick came up with a new idea to build an open platform for both creators and consumers. In this platform, users are allowed to pitch and fund their projects. In this platform, creators pitch their projects and community votes according to the suitable projects which they think are worthy. The project which gets higher votes can get funding from the Flick platform. The best part is both users and creators can work together to build something valuable which is profitable for both parties.
DECENTRALIZED MEDIA
Blockchain technology gets very famous due to its tremendous security purpose. In the blockchain, social media content is secured and there is no misuse of your data possible. Every user has a private key which is hard to hack. There are already different blockchain social media platforms in markets which has unique features.
STEEMIT
The Steemit platform provides the user to earn crypto for creating and organizing content. Steemit is launched in 2016 and it was the first-ever decentralized app that arrived on Steam. It is also one of the oldest blockchain social media which is still in operation.
ARRIVAL OF TWITTER IN DECENTRALIZED SOCIAL MEDIA
Twitter founder Jack Dorsey made clear that Twitter is jumping into crypto and most specifically bitcoin and they have already announced that they are launching a crypto team and their goal is to master the excellence in blockchain and Web3. According to the report Twitter’s main purpose is to give more attention to crypto payments and NFT galleries.
But in long term, their main motive is to provide users more ownership and control over their data with the help of blockchain social media. At the end of the day, it will become more beneficial for users as they get more control of their data which is a great step by Twitter. Users can post their data but the only difference is that there is no need to follow centralized media rules which eliminates fake news and misinformation which is great.
CONCLUSION
The adoption of decentralized social media surely changes the whole experience for the users and creators and eliminates the third party. Creators now have more ownership of the content and there is no restrictive algorithm to follow to succeed. Users feel safer than ever before their data is not used or gets stolen by companies. And it is all possible with the help of blockchain technology. In social media, you have already noticed that a huge amount of fake news and fake data is used to increase likes or for some, it is used as a promotion function. Users are manipulated with their data and likes. Decentralized social media provides a platform that gives ownership without hampering the experience.
Those who have ventured into the crypto market know how volatile the market can be. Therefore, it requires a detailed and thorough study before one decides upon forming any sort of association with the market. It is also important to take a look at the trend of the previous year, such as a detailed study of the bear market in the previous years.
This would help people understand how things were or how things worked when they faced the crypto market crash in 2008, like the one being faced now in 2022. It would help one analyze the difference as well as the similarities, and in the process understand or predict what ll there is to come or what all can be expected to come.
The Value of Bitcoin during the bear market
It has been recorded that in the year 2017, the Bitcoin value touched its all-time peak with a value of 19.1k dollars. However, in the years following it, the Bitcoin value showed a major downturn and fell as low as 3.2k dollars. It was estimated to be a downturn or drawdown of almost as much as 83%. It was even considered to be one of the lowest that the Bitcoin market has ever faced.
However, in the current year, the Bitcoin value has not fallen as low as it had fallen in the year 2018. But there has been a severe drawdown which has become a matter of major concern. This year, it has been called almost as low as 73% from what it was in the year 2021. If it was to be compared with the fall that was experienced in the year 2017, it could mean that it would have to fall 11.4k low to be equal to that experienced in the year 2018.
However, it cannot yet be said anything definitively, as if in the coming months, the value of Bitcoin falls any less, then it would surely match what has faced in the 2018-19 market.
Learn more about the realized price of the Bitcoin
The data that has been collected from various trusted sources indicate that the realized price of the Bin is 23,340 dollars currently. This is said to be the average price of all sorts of Bitcoin that I'm demanding right now. It is a rare phenomenon when the value of Bitcoin falls lower than the value given here. It generally occurs during the end of the near market season.
However, with the current situation of Bitcoin and the value at which it is trading right now, it can be said that it might soon hit its lowest. It would not take long before it reaches its bottom.
As per the MVRV Z-score, which can be referred to as the difference between the market value and the BTC realized value, Bitcoins value has gone tremendously low. However, in the years 2018 and 2020, these scores had reached their lowest levels and this year it is headed towards the same scenario but might not reach so low.
A closer look at the Bitcoin value
However, a closer look into the trends from the year 2017 to 2021 ut has observed that there has been a significant rise in active addresses. The Bitcoin market cap has also noticeably risen by over 300%.
It has also been reported that the rise in active addresses is much less than that of the rise in Bitcoin addresses. This steady increase in both factors has led to the wide acceptance of general networking.
Conclusion
It is not always an easy task to predict or make assumptions about how the bear market is going to function at a particular time. It has become even more uncertain given the current times and situation.
I'm in the ever-growing cryptocurrency space, it is important to keep track of all the changes occurring and the ways this field is evolving. There have emerged various sources in this arena, which help those interested in cryptocurrency and keep track of all the prices of different crypto assets. The main purpose of the rise in such crypto sources is to provide all sorts of unbiased information to the users and help them draw conclusions or make assumptions of their own. It also endeavors to make crypto more discoverable on a larger or global scale.
Learn tracking price of assets by market cap
In recent years, many such sources have emerged online that are concerned with the assessment. of crypto-assets and their prices. However, only a few of these have been able to gain the trust of the users and have established names for themselves. It is only due to the kind of unbiased and perfect information they have been providing their customers for a few years now. They have also become quite trustworthy for the comparison of different crypto assets as they deliver the best results. It is because of their efficiency, that their assessment has also been recorded by various reputed news channels and media houses.
The main aim of those who are involved in making assessments of cryptocurrency and its assets is to make it accessible, available, and important for people all around the globe. To do this, they make careful attempts at studying the market, making an in-depth study of the market, and then bringing the best quality results to its users to help them make the right decision. The users of these sources are many, almost millions of people all around the globe make use of one of these sources to gather more information.
Their main motto, the quality for which they are known, is honest information and guiding the users on the right path. It also endeavors to provide the information promptly, so s to decide before it is too late. These sources stand firmly on their principles and the ways they follow without any compromise. Various such companies have been working independently or from the source of their parent companies. A closer look into the change in the list of top cryptos by market cap in the last 48 hours, can help one understand why it is important to be studied.
The list of top cryptocurrencies in the last 48 hours
Given below are the top five crypto gainers as per the records that have been recorded in the last 48 hours. Please take a look into it:-
• Reflecto
• MertaversePay
• Listen to Earn
• shina inu
• GamiFi.gg
Take a look at the disclosure policy they must abide by
These sources need to disclose all the information they have to provide to their users. It also includes the information about the source, information which ould help the users gain more faith in it and this helps them make informed and wise decisions. There are certain rules that these sources must abide by to avoid any sort of biased results.
Certain sources are owned by organizations with assets of their own, however, these sources are not allowed to prefer them as well, and provide the right information regarding it. It does not matter whether the results affect the company positively or negatively, what matters is that honest information gets shared. The primary focus is aown.
