What Is Decentralized Social and Where to Buy DeSo?

The idea of a decentralized social (DeSo) network, which represents the next stage in the development of social networking, has piqued the interest of many individuals. No longer are you required to place all of your trust in a single organization, be it a corporate or government, regarding your private information, interests, and connections? 

DeSo puts you in complete charge of how you interact with other users on the network. There is no overarching authority that is keeping an eye on you. Instead, you are responsible for your safety by being an active part of the network and verifying the information sent to you.

In this blog post, you will learn what Decentralized Social is, its history, and the value of its token.

What Is Decentralized Social (DeSo)?

The Decentralised Social Network is a project for the next generation of blockchain technology released in 2021 by the DeSo Foundation. Bitcoin, the world's first blockchain, was launched in 2009 with the capability to transfer funds from one user's wallet to another. In 2015, Vitalik Buterin released Ethereum, the first blockchain compatible with smart contracts. Since then, there has been an explosion in the number of blockchains that support smart contracts. 

Increasing scalability, transaction speed, cost-efficiency, decentralization, and security are among the primary focuses of many of these solutions. However, the DeSo blockchain is the first blockchain to function in a manner that is specifically designed to be decentralized and social. As a result, DeSo has decided to implement some innovative blockchain architecture to make the user experience (UX) as seamless as possible. 

How Does DeSo Work?

A token-based system that runs on the Ethereum (ETH) blockchain is what DeSo uses. This indicates that DeSo tokens can be traded between peers and used as payment for the network's various microservices. Some examples of these services include posting content, tagging other users in posts, commenting on posts, and liking posts.

What Is the DeSo Token?

DeSo tokens can be used to incentivize user behavior that is beneficial to the network, or they can be used to gain access to unique services inside the DeSo Network. For instance, after various users have made a predetermined amount of comments on the network, they may spend their DeSo Tokens to unlock the option to create polls inside their posts.

Token Curated Registries (TCR) is the foundation of the DeSo Network, constructed on top of Ethereum. TCRs are the same as regular lists, with one significant modification. They allow the list members to decide which messages can be sent to the group. Because of this, a list can become more selective over time as the members of the list gather more influence.

Users can vote on submissions to lists using DeSo tokens, which DeSo's TCRs utilize. Each action taken is considered a submission to the list itself. This indicates that for a user to add or remove an item from a list, they will be required to pay the DeSo token charge to obtain entrance into that particular list.

Because the whole system is decentralized, there are no centralized servers that a hacker could target with a DDoS attack. The software uses the trustworthy Timestamping protocol and the BitTorrent protocol to ensure that information is disseminated correctly without relying on a single reliable third party.

The total market cap of DeSo is 144.64 million USD. Overall, the total supply of DeSo tokens is 10.80 million.

History of DeSo

Nader Al-Naji, a former software developer at Google, is the man behind the creation of Decentralised Social. Because of his unwavering commitment to advancing decentralized social media, he is known by the moniker "the Facebook Killer." May 2019 marked the beginning of development for the Decentralised Social blockchain, initially known as BitClout. In addition, he established the DeSo Foundation to promote the growth of blockchain technology and the decentralization of social media.

Features of DeSo

A Hybrid PoW Consensus

In its current state, the DeSo platform operates with the help of a hybrid consensus process. The blockchain can keep its high level of security while consuming far less energy than most other large blockchains since it is based on a proof-of-work paradigm. The development team is always working on improving the concept and intends to switch to a PoS protocol in the future.

Social Media Graphs

On a social network, the connections between users, groups, and organizations are depicted using something called a social graph. When a decentralized social media platform, all user data is available to the public. Because of this, users can save all their posts and social graphs directly on the blockchain, preventing social platforms and third parties from using their connections against them in any way.

Hypersync and DeSo

In the interest of improving their overall efficiency, the majority of blockchains are developed to only store minimal amounts of data. In most cases, DeFi protocols require only a few bytes' worth of storage space, yet social applications demand an endless amount of data. This problem is solved by the Hypersync protocol, which also enables increased scalability.

Infinite State Applications

Many blockchain networks are experiencing difficulties with on-chain storage. Blockchain technology often cannot keep up with the data storage space required by massive social media networks. Most blockchains were developed to support finite-state applications requiring a predetermined amount of data storage. On the other hand, programs for social media platforms can expand indefinitely since they have an infinite state. The DeSo platform uses a custom-built, complicated indexing mechanism to increase scaling.

How to Buy DeSo Tokens? 

CoinEx is a global cryptocurrency exchange, trusted by 5+ millions of users worldwide with 100% reserve. With its 700+ tokens supported, including DeSo, users can now trade easily and seamlessly.

Here’s how to buy via CoinEx:

If you already have a CoinEx account, this is how you can purchase and sell DeSo on CoinEx:

1. Enter your login information: To access your CoinEx account, visit the website or launch the app and enter your email and password.
2. Put funds in your account to make DeSo coin purchases. You can deposit the funds via credit card, etc.
3. Once you have funds in your account, you may buy DeSo by going to the DeSo trading page and choosing the trading pair you wish to use.
4. Tokens (USDT, BTC, ETH, and CET, etc.) can be exchanged for DeSo. Put in your order and the quantity you want to buy.