Velas Products: BitOrbit — Decentralized Social Network
We are considering an opportunity to develop a more functional client ‘Telegram’, with enhanced features that demonstrate the benefits of using blockchain technology.
Internet evolution brought user data mostly into the hands of several huge internet corporations, and the concept of Tim O’Reilly’s Web 2.0 was gaining a foothold, declaring that systems designed with account network interactions become better the more people using them. Proof of this concept in action are the major Social Networks, uniting billions of users and storing hundreds of petabytes of data.
Few people think that if the service is free (whether it’s a search engine, video platform, mail, etc.), the main product is the user themselves, and privacy is no longer owned by him. Services collect information about each and every user, monetizing it as advertising for the highest bidder. For a long time, we’ve been watched and that’s public knowledge, not a worldwide conspiracy theory.
Fortunately, Web 3.0 — or “Decentralized Network” — is in the growing trend of development, implying creation of services unruly to a certain “central” organization. Web 3.0 is designed to restore confidentiality, transparency and data management to users.
The moment has come where both industries are already quite developed and compete in different directions and areas. But, what if we take the best of both worlds, and combine all the features of centralized and decentralized services in a new hybrid concept?
We’re using Telegram, Whatsapp, Facebook, TikTok to communicate and express ourselves. There should be an obvious advantage and motivation to move from existing social services to new solutions in the case of a new chat or social network appearing. For some, it could be the convenience and performance of a new program, or the presence of additional features, such as anonymity.
It is difficult to implement the whole range of advantages in a new product, as each function requires focus and time for its high-quality implementation. Therefore, it makes sense to collaborate with existing centralized services that help to develop a hybrid product.
Our goal is decentralization of centralized services, meaning the transformation of hidden business models into open and socially regulated ones. Following our goal, all services, that help to achieve it, should be considered.
For example, Telegram (with an audience of 400 million users) that allows to develop any type of application, providing everyone the opportunity to take part in extending the functionality of the network.
Let’s take an analytical look at Status.im — a decentralized chat with an integrated crypto wallet. Users haven’t moved nor stopped using Telegram notwithstanding its new crypto features. It shows that the crypto wallet and more anonymized chat isn’t enough for users to abandon comfort and leave Telegram.
We are considering this opportunity to develop a more functional client Telegram, with enhanced features that demonstrate the benefits of using blockchain technology.
- Built-in crypto wallet
- Added private groups
- Built-in applications
- Built-in Video Feed (making Telegram more social)
- Data synchronization and contacts list
It would be the same client, with a familiar interface for the user, but with additional functionality that supports decentralized technologies.
A Built-in crypto wallet
Ability to send cryptocurrency from user to user, by method of pay invoice or direct send.
Added private groups
Telegram has secret chats between users, but no secret groups between a group of users. We want to add this feature to make communication between stable groups more anonymous and secure.
Telegram has a potential of multi-app client by means of Telegram bots. But bots are bound by pictures, text and buttons. It could be improved by replacing their interface with the React Native Components interface, where each organization can configure the UI/UX of their bot individually.
Built-in Video Feed
Currently, Telegram is just a chat service, while WeChat is a complete social network. We want to compete with WeChat by adding the social media functionality to Telegram.
Data synchronization and contacts list
The user is no longer required to invite his friends to a new chat, he gets access to the data and contact list he used to interact with.
We are confident that this realization can motivate users to move from an ordinary Telegram client to BitOrbit, with Velas blockchain support. The availability of internal VLX currency will provide new ways for convenient and fast interaction with the decentralized world: making transactions, access to DApps, DeFi and synthetic assets (vBTC).
This is one of a series of articles outlining the complete package of Velas products on offer, and what the team has been working hard on over the past year. We’re covering everything from AIDPOS to Integrated Crypto Wallets and everything in between. You don’t want to miss it!