The Future is Decentralized - Why Decentralization Will Revolutionize Social Media
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A big story of 2022 is Elon Musk purchasing Twitter, one of the most community driven platforms for self expression. Over half of the entire world is using social media platforms like Twitter, Facebook, and Instagram. Social media draws a lot of innovation as new platforms are being built constantly such as BeReal or Tik Tok. This innovation consistently drives the attention of billions of people to these platforms, leading to the average social media user to spend nearly two and a half hours on social media. In web2, there is not a ton of value being given to the users who use the platforms. Web3 aims to revolutionize social media with decentralization.
Decentralized social networks are similar to web2 platforms in which people can publish and distribute content to the masses. Many developers are targeting building decentralized versions of the current web2 platforms which are designed to provide benefits to users of the platform. One of the benefits of decentralized social networks is the lack of a single point of failure for where the data is stored. With nodes being distributed, the platforms’ reliability increases as one disruption doesn’t lead to failure or outages of the networks.
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