Decentralized Social

What is a decentralized social network?

Decentralized Social Coin, or DESO, is the official cryptocurrency built into the Decentralized Social platform. The latter is a blockchain-based solution aimed at decentralization of social networks.

DESO is mainly used as medium of exchange on the DeSo platform.

The total supply of DESO coins is 10,800,000, of which over 90% are in circulation. They were distributed using bonding curve:

• 8,500,000 – initial distribution of the adhesion curve;
• 2,000,000 – Founding team;
• 275,000 – Mining.

No single person or group may own more than 5% of DESO’s total supply. The only exception is the founding team, which owns about 20% of DESO.

You can take a closer look at DESO’s price history or Decentralized Social’s current price in the chart above.

What are the main features of a decentralized social network?

As discussed in What is a Decentralized Social Network, DeSo is Level 1 Blockchain solution designed to help scale social media platforms that typically take up a lot of space. Simply put, it allows creators shop their content on the blockchain in a cost-effective way.

Some of its unique features include on-chain profiles, creator coins, social NFTs, and an exclusive tipping mechanism called Diamonds. These features give fans the opportunity to show love to their favorite creators.

In addition, the Decentralized Social Fund offers social platform developers a unique opportunity to receive support through the Octane Fund.

One of DeSo’s main goals is to decentralize social media and empower content creators rather than corporations.

As of 2022 there is more than 200 social applications which were developed and launched on DeSo. Some of them include Diamond, Cloutavista, Polygram, AfterParty and Supernovas, among many others.

All content published on the DeSo network can be transferred to other DeSo-based applications thanks to on-chain indexing. This means that if the author has placed an image in one DeSo-based application, he can easily transfer it to another.

DeSo works using type Proof of Work (PoW) However, the core team is working on a new method for reaching consensus, which should be implemented by the end of 2022.

Moreover, it is an open source project. This means that its code is publicly available for anyone to view.

Who developed the decentralized social network?

The Decentralized Social cryptocurrency project was launched in early 2019. This is a California company founded Nader an-Naji is an experienced software engineer working in the crypto space since 2012. Currently he is the head of the DeSo Foundation.

Nader Al-Naji attended Princeton University, where he received a bachelor’s degree in computer science. Immediately after graduation he began working for DE Shaw & Co. in the field of algorithmic trading. About a year later, Nader Al-Naji joined Google as a software engineer working closely with the Google Ads and Google Search teams.

DeSo is not Nader Al-Naji’s first blockchain project. He also co-founded his first company The basisalong with Lawrence Diao and Josh Chen. The founding team was able to raise approximately $133,000,000 for Project Basis.

If you are thinking about investing, be sure to check the DEO price in the chart above before making any purchasing decisions.