The Rise in Popularity of Blockchain-Based Crypto Social Media
By Maria Garcia on ALTCOIN MAGAZINE
Most people find it impossible to spend even a few hours, let alone a day without checking their social media accounts. That’s how much the present generation is hooked to and influenced by social networking.
It has truly become an inevitable part of the Digital Age and there is no denying that. Not only does it keep us connected with each other across a vast global network but it also keeps us informed about what’s happening even in the most remote part of the world.
Living in today’s world, it is impossible to avoid social media, period! The industry keeps growing providing the perfect space that blockchain technology and crypto can disrupt. That revolution has already begun with many social media platforms using blockchain as their base technology and some even paying the contributors with crypto.
It All Started with Steemit
Steemit paved the way by being the first social media platform built on blockchain technology. It came into being on July 2016, by blockchain developer Dan Larimer and Ned Scott. They enabled the users to get rewards through Steem (their cryptocurrency) for every post that was created and curated and even for commenting on the platform. Steemit succeeded because it was able to establish the true prospective of blockchain to offer resistance to censorship and they also rewarded the users for engaging in the platform.
What came as a boon to the user is that, there was no chance of getting blocked by another user or the platform by flagging their post. The first time that they paid the users in 2016, it created a massive level of excitement and many others started to show interest. Though there were a few setbacks like the voting power abuse and spambots, Steemit is still going strong paving the way for blockchain-based crypto social media.
What Followed After Steemit
What started with Steemit, was taken forward by others like Narrative.org, ALIS, memo.cash, honest.cash etc.
Narrative.org is a favorite of crypto bloggers. Unlike Steemit, this is more stringent towards abuses by users. It has a KYC policy that makes it extremely hard to create multiple accounts. The communities in the platform are well organized under tags that are owned by the users. They can earn monetary benefits from tag ownership.
ALIS is the first social networking site of Japan based on blockchain that has a particular focus on crypto bloggers and manga readers. The vision of the company is to find trustworthy and validated articles for its users. The creation and curation of quality content are rewarded with ALIS token.
The Bitcoin Cash blockchain network launched the social media platform memo.cash on 15th April 2018. It has great characteristics like SLP token creation and native tipping. The Memo has a unique way of interacting with BCH. It might not be visually appealing, what draws in the users are the functionality of the site and the innovative features that come with it. It can timestamp vital information authentically, making it immutable virtually. This feature is what makes the memo.cash different.
Just like Memo.cash, Honest.cash was also built on the BCH network and was launched in 2018. It focuses on the concept of free speech. The bloggers get paid with BCH in their user wallets.
A Glance at Other Crypto Social Media Sites
It is a platform for video sharing and quite the same as YouTube. However, the main focus points are politics and activism. It is almost similar to YouTube. The contributors get rewarded via Bitbacker, Coinpayments, etc.
This is a Steem blockchain decentralized app based on IPFS. Dtube is a platform that is used for video sharing and the contributors are rewarded by Steem. News and visual arts remain to be the main user interests.
This video sharing platform is based on the lino blockchain. But it was initially established on Steem blockchain. The platform attracts users that have an interest in gaming, live streaming, animation, etc. The users get rewarded by lino points for posts and engagements.
Earn is Coinbase’s platform for microtask earning that mainly focuses on economics and technology. The users can earn crypto by completing minor tasks or by replying to emails.
This is a social media platform that like Bitchute focuses on content based on politics and activism. It is an open-source and contributions are rewarded by ERC20 tokens.
Sapien was established to counter the issue of fake news. It is a democratized and Ethereum-based news platform that uses SPN tokens to facilitate interaction in the network.
This is a blockchain-based platform that focuses on sports and betting. The users get rewarded by SCR coins for the creation and curation of content.
Crypto and blockchain technology has very well disrupted social networking space. There are lots of work going on in the field with new social media sites emerging with the same crypto concept but a different crowd to serve.