The Block • Mar 18, 24
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Create a Coinbase account to buy and sell Decentralized Social on the most secure crypto exchange.
$284.4M
$11.1M
8.9M DESO
23 days
#242
$438.10
-0.47%
-9.38%
-21.31%
Earn free crypto after making your first purchase. Terms apply.
Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards.
DESO is the native cryptocurrency powering the Decentralized Social blockchain, a platform designed to support a wide variety of decentralized social media applications. DESO can be used to purchase “social tokens” and NFTs, and to create profiles and posts for Decentralized Social applications.
Decentralized Social (DeSo) is a unique layer-1 blockchain designed to decentralize social media for billions of users. It aims to shift the control of online information from a few tech giants to the users themselves. DeSo allows users to own their identity, profile, content, and social graph in a completely censorship-resistant way. It also provides creators with new crypto-native tools such as Social Tokens, Social DAOs, Social NFTs, and Social Tipping, enabling them to monetize their passion and make a living by doing what they love. DeSo is also designed to support storage-heavy or infinite-state applications, opening up a new world of non-financial-based web3 apps that weren't possible before.
DeSo works by storing all social data on a decentralized ledger, making it immediately available to a large and growing network of independent third-party apps. It supports not only traditional social features like creating profiles and posts, but also novel blockchain-native features like social tokens, tipping, and NFTs. These features unlock new categories of crypto-enabled products, enabling creators to more effectively monetize their content and connect with their followers on DeSo-powered apps. DeSo's unique architecture allows it to reach highly-scalable storage capabilities that are unparalleled by any general-purpose blockchain.
DeSo has a wide range of potential use cases. It can be used to build decentralized versions of popular social media platforms, allowing users to own their content and social graph. It can also be used to create social NFT experiences and influencer stock markets. Moreover, DeSo can be used to build a variety of crypto-native features like NFTs, DAOs, Social Tokens, Crypto Tips, and Paid DMs, providing new ways for creators to monetize their content. It can also be used to build storage-heavy or infinite-state applications, opening up a new world of non-financial-based web3 apps.
DeSo was founded by Nader Al-Naji in January 2019. After graduating from Princeton University, Al-Naji worked as a software engineer at the D. E. Shaw Group and later at Google on the Google Search and Google Ads teams. Before DeSo, he raised substantial funds to start an algorithmic stablecoin Basis in 2017. The DeSo blockchain is supported by the non-profit DeSo Foundation, which aims to support the decentralization of social media. Al-Naji is currently the chairman of the board of the DeSo Foundation, which has a substantial treasury to support its mission. The DeSo Foundation has established a developer fund, known as the Octane Fund.
DESO strives to tackle the issues of censorship and content moderation that are common in centralized social networks. The primary objective of DESO is to provide an alternative to the centralization in current social media, where a limited number of corporations have control over public discourse. By storing user-generated content on a public blockchain, DESO intends to lessen the influence of centralized gatekeepers, which could potentially decrease the likelihood of censorship. This method also aims to give content creators and users more control over their content. In addition, DESO is exploring ways to simplify the onboarding process for decentralized social apps in an effort to make the underlying protocol less noticeable, with the goal of improving the user experience.
DESO seeks to decentralize the social media category, striving towards addressing these issues. Unlike traditional social media platforms where data and content created by users are privately owned by a few companies, DESO stores all of its data on a public blockchain. This means that anyone in the world can run a node that exposes their own curated feed, with the intention of improving privacy and data security. DESO's open-source nature allows for the development of custom algorithms and features, giving users more control over their data and online experiences. By storing all data on a public blockchain, DESO intends to lower the barrier to entry for creating new social media products, with the intention of encouraging innovation and competition in the social media space.
Decentralized Social utilizes blockchain technology to foster a more transparent and user-centric social media experience. It aims to address the issues prevalent in traditional centralized social media platforms, such as data privacy, censorship, and centralized control. In a decentralized social network, user data and content are stored on a blockchain and independent servers, as opposed to centralized servers managed by a single entity. This structure aims to enhance privacy and security, granting users control over their data, digital identity, and content. Blockchain-based social platforms aim to support free speech and resist censorship, with no central authority having the power to control or manipulate the content. Moreover, no third party has the ability to own, collect, or sell user data. This approach aims to enhance transparency, as anyone can access the data at any time. Decentralized social networks often utilize fungible and nonfungible tokens (NFTs) as a method of content interaction, providing users with opportunities to receive non-monetary incentives for their contributions.
Decentralized Social strives to provide a user-friendly and intuitive social media interface by leveraging blockchain technology and smart contract integration. It focuses on developing user-friendly interfaces and robust privacy features to enhance the user experience. The platform also aims to provide a seamless experience by balancing the complexity of blockchain technology with the simplicity users expect from social media platforms. Additionally, Decentralized Social seeks to ensure that it maintains performance and adaptability, with the intention to provide a consistent user experience as the user base expands. User data privacy is a key consideration in the design and development of its user interface.
DESO's native asset, the DESO coin, plays a fundamental role in the security and operations across the DeSo ecosystem. The platform features unique aspects such as social tokens, social tipping, and non-fungible tokens (NFTs), which aim to facilitate user engagement and content discovery. Users of the DeSo blockchain have full autonomy over their data and the content they see, which further strives to facilitate user engagement. The platform also allows anyone to build and deploy decentralized social media platforms, providing users the freedom to interact with social platforms that are free of ad-driven business models. This aims to provide a different user experience, where users can select the content they wish to view.
Decentralized identity verification plays a role in building trust among users on the DESO platform by providing a solution that aims to be secure, reliable, and user-centric. This system seeks to protect users' personal information and reputation from potential threats such as identity theft and online deception. It leverages blockchain technology to authenticate users' identities through a distributed ledger, with profiles verified by this technology aiming to increase trustworthiness. This approach seeks to mitigate the impact of deep fake profiles and other forms of online deception, with the intention of fostering user trust. Decentralized identity verification allows users to take control of their verification process, independently verifying accounts to protect their identity and defend against fraud. This technology seeks to contribute to the ongoing efforts towards further decentralization of the internet, with the potential to support the development of Web3 projects and virtual reality platforms.
DESO introduces social tokens, social NFTs, and social tipping for creators, enabling them to monetize their contributions in novel ways. Social tokens are tied to an individual's reputation, allowing users to support their favorite creators. Social NFTs represent unique content pieces, enhancing user engagement. Social tipping allows users to show appreciation through “diamonds” that carry non-monetary significance. DESO incorporates low gas fees for scalability and affordability. DESO incorporates these features for building decentralized applications. However, potential market volatility, content appreciation hierarchy, and commercialization of creativity are some considerations with these features.
The Block • Mar 18, 24
Dogwifhat memecoin’s iconic photo sold as NFT for $4.3 million
Crypto trader Gigantic Rebirth Ventures (GCR) made the winning bid of 1,210.8 ETH on the Foundation platform.
Read more
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The Block • Mar 18, 24
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75 unique individuals are talking about Decentralized Social and it is ranked #427 in most mentions and activity from collected posts. In the last 24 hours, across all social media platforms, Decentralized Social has an average sentiment score of 3.2 out of 5. Finally, Decentralized Social is becoming more newsworthy, with 0 news articles published about Decentralized Social. This is a 0% increase in news volume compared to yesterday.
On Twitter, people are mostly bullish about Decentralized Social. There were 66.67% of tweets with bullish sentiment compared to 0% of tweets with a bearish sentiment about Decentralized Social. 33.33% of tweets were neutral about Decentralized Social. These sentiments are based on 27 tweets.
On Reddit, Decentralized Social was mentioned in 0 Reddit posts and there were 0 comments about Decentralized Social. On average, there were more upvotes compared to downvotes on Reddit posts and more upvotes compared to downvotes on Reddit comments.
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75 people
#427
3.2 out of 5
27 people
66.67%
Bullish
33.33%
Neutral
0%
Bearish
DESO/CAD (Canadian Dollar)
CA$43.66
DESO/GBP (British Pound)
£25.27
DESO/JPY (Japanese Yen)
¥4,830.60
DESO/INR (Indian Rupee)
₹2,664.21
DESO/BRL (Real)
R$161.92
DESO/EUR (Euro)
€29.57
DESO/NGN (Nigerian Naira)
NGN 49,246.62
DESO/KRW (South Korean Won)
₩42,966.46
DESO/SGD (Singapore Dollar)
S$43.07
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The price of Decentralized Social has decreased by 0.47% in the last hour and decreased by 9.38% in the past 24 hours. Decentralized Social’s price has also fallen by 21.31% in the past week. The current price is $32.09 per DESO with a 24-hour trading volume of $11.13M. Currently, Decentralized Social is valued at 92.68% below its all time high of $438.10. This all-time high was the highest price paid for Decentralized Social since its launch.
The current circulating supply of Decentralized Social is 8,884,536 DESO which means that Decentralized Social has as total market cap of 8,884,536.
We update our Decentralized Social to USD currency in real-time. Get the live price of Decentralized Social on Coinbase.
The current market cap of Decentralized Social is $284.44M. A high market cap implies that the asset is highly valued by the market.
The all-time high of Decentralized Social is $438.10. This all-time high is highest price paid for Decentralized Social since it was launched.
Over the last 24 hours, the trading volume of Decentralized Social is $11.13M.
Assets that have a similar market cap to Decentralized Social include L7, VeThor Token, Golem, and many others. To see a full list, see our comparable market cap assets.
The current circulating supply of Decentralized Social is 8.9 million.
The median time that Coinbase customers hold Decentralized Social before selling it or sending it to another account or address is 23 days.
Decentralized Social ranks 122 among tradable assets on Coinbase. Popularity is currently based on relative market cap.
Currently, 96% of Coinbase users are buying Decentralized Social. In other words, 96% of Coinbase customers have increased their net position in Decentralized Social over the past 24 hours through trading.
Yes, Decentralized Social is currently available on Coinbase’s centralized exchange. For more detailed instructions, check out our helpful how to buy Decentralized Social guide.
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Certain content has been prepared by third parties not affiliated with Coinbase Inc. or any of its affiliates and Coinbase is not responsible for such content. Coinbase is not liable for any errors or delays in content, or for any actions taken in reliance on any content. Information is provided for informational purposes only and is not investment advice. This is not a recommendation to buy or sell a particular digital asset or to employ a particular investment strategy. Coinbase makes no representation on the accuracy, suitability, or validity of any information provided or for a particular asset. Prices shown are for illustrative purposes only. Actual cryptocurrency prices and associated stats may vary. Data presented may reflect assets traded on Coinbase’s exchange and select other cryptocurrency exchanges.