DESO Decentralized Social

Decentralized Social Use Cases

Decentralized Social platforms offer a variety of applications that enhance user control, privacy, and security. Here are some key use cases:

• Censorship Resistance: Decentralized Social networks are open to everyone, ensuring users cannot be arbitrarily banned, deplatformed, or restricted. This is achieved through a peer-to-peer network comprising thousands of nodes worldwide, making it resilient to failures and outages.

• Direct Ownership: By eliminating the middle man, Decentralized Social networks confer content creators with direct ownership over their content and enable them to engage directly with followers, fans, and other participants, interrupted only by a smart contract.

• Improved Monetization: Decentralized Social networks offer content creators an improved monetization framework by integrating NFTs, in-app crypto payments, and more.

• Enhanced Privacy: Decentralized Social networks afford users a high level of privacy and anonymity. For instance, an individual can sign into an Ethereum-based social network using an ENS profile or wallet—without sharing personally identifiable information (PII), such as names, email addresses, etc.

• Better Safeguarding of User Data: Decentralized Social networks leverage decentralized storage, which is considerably better at safeguarding user data than centralized databases.

• Examples of Decentralized Social Platforms:

  • Peepeth: A microblogging platform similar to Twitter, built on the Ethereum blockchain and leveraging IPFS for secure user data storage.
  • Pixelfield: A decentralized alternative to Instagram, emphasizing user data control and privacy, offering an ad-free experience.
  • Mirror: A decentralized writing platform designed with a user-centric ethos, allowing for free reading and writing by simply connecting to the platform.

Pros of Decentralized Social

• User Control: Decentralized Social networks operate on independent servers, giving users more control and autonomy to set up their own social networks and determine their rules, including what content and behavior are acceptable.
• Privacy and Security: These networks use cryptography to enhance security and privacy, distributing user data across a network of decentralized servers to reduce the risk of data breaches and unauthorized access.
• No Censorship: Decentralized Social platforms resist censorship because no single entity controls them, allowing individual network administrators to moderate content and promote free speech.
• Monetization Opportunities: Users can earn cryptocurrency through creating content, curating existing posts, or engaging with their community, providing innovative ways to profit from their social network without the need for sponsorship or running ads.
• Transparency: Blockchain technology allows data entries to be stored in servers anywhere in the world, fostering transparency as the data can be viewed in near real time by anyone on the network.

Cons of Decentralized Social

• Scalability Issues: Decentralized applications (dApps) can face challenges in scaling, making it difficult to handle a large number of users efficiently.
• User Interface Challenges: Developing user-friendly interfaces for dApps can be challenging, affecting user adoption and engagement.
• Code Modification Difficulties: Updating dApps can be difficult because the data and code published to the blockchain are hard to modify, making it challenging to correct bugs or security risks.
• Security Risks: If the programming of dApps is rushed, unaudited, or sloppy, hackers may find it easy to break into them, posing security risks to users.

Founders of Decentralized Social

• Nader Al-Naji: The founder and CEO of Decentralized Social. He is a key figure in the development of the platform, aiming to decentralize social media by leveraging blockchain technology.

Investors in Decentralized Social

• DeSo Foundation: The primary organization behind DeSo, focusing on developing and supporting the DeSo ecosystem.
• McCourt Global: Led a $6 million Series B funding round for MeWe, a decentralized privacy social media network based on the Decentralized Social Network Protocol (DSNP), though not directly related to DeSo, it shows interest in similar decentralized social media projects.
• Blockchain Capital: Led a $15 million Series A funding round for Bluesky, another decentralized social media platform, indicating interest in the broader decentralized social media space.

Key Points

• DeSo Foundation is the main entity supporting DeSo.
• Other investors like McCourt Global and Blockchain Capital are investing in similar decentralized social media projects, not directly in DeSo.

Note

The specific investors in DeSo are not detailed in the provided sources, but the DeSo Foundation is the primary organization behind it. Other sources mention investments in similar decentralized social media projects.

Is Decentralized Social Halal?

Yes, Decentralized Social can be considered halal. The primary reason is that it operates on blockchain technology, which is inherently anti-interest and aligns with Islamic finance principles that prohibit interest-based transactions. Additionally, as long as Decentralized Social does not breach Islamic prohibitions on contractual uncertainty and gambling, it can be deemed permissible under Shariah law.

Key Points:

• Blockchain Technology: Decentralized and anti-interest, aligning with Islamic finance principles.
• Islamic Prohibitions: Must not involve interest, contractual uncertainty, or gambling.
• Shariah Compliance: Can be achieved by adhering to Islamic finance guidelines and avoiding prohibited activities.

Relevant Considerations:

• Scholarly Opinions: Various Islamic scholars believe that cryptocurrencies can be halal if they meet certain criteria, such as being backed by physical assets or tracked by a central authority to prevent illicit activities.
• Shariah Principles: Emphasize social justice, accountability, and ethics, which can be applied to modern crypto analysis and digital currencies.
• Regulatory Engagement: Continuous dialogue with regulators and industry leaders is necessary to promote clear and well-informed regulations that enable innovation while upholding Islamic principles.