“DECENTRALIZED MEDIA” IS A NEW UP-GRADATION FOR THE CRYPTO MARKET

by | Jul 12, 2022 | Cryptopedia, Market, Market News, News | 0 comments

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.