Tag: Deso

Deso Blockchain Crosses 2 Million Accounts Amid Elon Musk’s Twitter Revamp

by Blockchain News

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Takeaways

  • Elon Musk posted a poll asking if he should step down as CEO due to backlash from a recent policy change that stated that rival social networks could not post on Twitter

  • People immediately began calling for decentralized alternatives as a solution to current centralized social media platforms

  • The DeSo Blockchain, a custom-built layer-1 designed for the scalability of decentralized social applications for millions of users, recently crossed 2 million accounts and 130,000 MAUs

This comes at a time when data points hint at Elon Musk’s Twitter revamp moving in the right direction, with Twitter usage hitting an all-time high. 

Still, with the uncertainty surrounding Twitter, some wonder if they should seek out other social networks where they can own their content, data, and social graph.

Bankless founder Ryan Sean Adams tweeted, “Ohhh  so Elon’s plan for internet free speech was to make us all migrate from Twitter to web3 social platforms that actually support free speech.”

Messari founder and CEO Ryan Selkis called Decentralized Social his “top investment theme for 2023.”

Web3 social platforms are growing in popularity, including DeSo, a new layer-1 blockchain that raised $200 million from Sequoia, Andreessen Horowitz, and Coinbase Ventures.
DeSo recently crossed 2 million accounts and 130,000 MAUs, according to social block explorer OpenProsper. 

One of the most popular apps on DeSo is Diamond, a blockchain-based, censorship-resistant alternative to Twitter. It has a broader range of money-native features that allow people to optimize for revenue. 

Most did not believe a blockchain-based version of Twitter was possible due to limited storage capabilities and the cost of transactions.

“Existing blockchains cannot store content efficiently,” says Nader Al-Naji, the founder of DeSo. “It costs about $50 to store a 200-character Tweet on Ethereum and about fifteen cents to store it on Solana, Avalanche, or Polygon. In contrast, DeSo is one ten-thousandth of a cent, making it the first blockchain capable of disrupting storage-heavy applications like social, blogging, and even marketplaces,” he says.

Diamond appeals to founders, builders, creators, and casual social media users. Additionally, it has blogging functionality, and several money-native features creators can use to build, scale and monetize their audience.

Users can earn more about DeSo and claim their decentralized, censorship-resistant profile at deso.com.

About Deso
DeSo is a new layer-1 blockchain built from the ground up to decentralize social media. Users can claim their decentralized, censorship-resistant social profile at deso.com. 

Contact

Ash Ghaemi
DeSo Foundation
ash@deso.org




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DeSo Blockchain Users Exceeds 1.5 Million, Decentralized Social Token up Nearly 90% within 24 hrs

by Blockchain News

New type of blockchain designed to power Web 3.0 decentralized social networks. DeSo Blockchain announced that they have created over 1.5 million accounts on their network.

DeSo, short for “decentralized social,” is the first and only blockchain custom-built from the ground up to power and scale a new category of decentralized social applications to one billion users.

The DeSo blockchain is supported by the non-profit DeSo Foundation, whose broad mission is to support the decentralization of social media.

Decentralized Social was up nearly 90% in the last 24 hours, hitting $61.21. The current CoinMarketCap ranking is No.222, with a live market cap of $543,835,284, according to the CoinMarketcap.

DeSo also said it is about to update its consensus model, from Proof of Work (PoW) to Proof of Stake (PoS), launching a new platform called DAODAO.

Nader Al-Naji, the Founder of DeSo commented that:

“With these new updates, we move closer to a world in which social media is not controlled by three centralized companies, but instead, is owned by the users and creators of the network,”

DeSo combines the paradigm of an open P2P financial system offered by cryptocurrencies with an efficient and scalable database infrastructure tailored to the next generation of Web 3.0 social networks.

According to Alex Valaitis, Head of Strategy and Operations at DeSo, “The first thing people need to realize is that social graphs and content should be stored on blockchains. The second is that in order to do this at scale, dedicated blockchains are needed,”.

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Coinbase Launching Retail Support for Altcoin That’s Surged 74% in Just Two Days

by Dailyhodl

Coinbase is rolling out support for a crypto newcomer across its full suite of retail trading applications.

The leading US-based crypto exchange says it’s adding Decentralized Social (DESO) to Coinbase.com, as well as the platform’s iOS and Android apps.

Early this week, Coinbase added DESO to its professional trading platform, Coinbase Pro.

The sudden support from the crypto trading giant has fueled a 74% rise in the price of the altcoin in just two days – from $94.12 to a high of $164.20.

Decentralized Social describes itself as a layer 1 blockchain designed to allow developers to easily create fast and proprietary social media apps.

DESO is the platform’s native asset and is used to pay for the purchase of social tokens, non-fungible tokens (NFTs), as well as to create profiles and posts on decentralized apps.

The project was started by Nader Al-Naji, who also launched the social media platform BitClout.

It has raised more than $200 million from a number of venture firms including billionaire Chamath Palihapitiya’s Social Capital.

DESO joins a long list of altcoins that have come to Coinbase this year, including the recent additions of API3 (API3), Bluezelle (BLZ), Gods Unchained (GODS), Immutable X (IMX), Measurable Data Token (MDT), Ribbon Finance (RBN) and Circuits of Value (COVAL).

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Four Altcoins Are Soaring As Bitcoin, Ethereum and Majority of Crypto Markets Retreat

by Dailyhodl

Several under-the-radar crypto assets are exploding in price despite a lingering downtrend across the markets.

Patriotic ConstitutionDAO has seen its native token PEOPLE leap by 61% this week. The project initially arose to crowdfund the purchase of a rare original copy of the United States Constitution but was ultimately unsuccessful during a Sotheby’s auction in November.

The PEOPLE altcoin has seen unexpected strength despite the project’s founders offering to refund the $47 million raised, minus gas fees. At time of writing the token is priced at $0.13.

Also shining this week is Decentralized Social (DESO), which aims to solve the scalability needs of social media platforms. The project has previously received funding from billionaire investor and crypto advocate Chamath Palihapitiya’s Social Capital and just this week was listed on the Coinbase Pro trading platform.

DESO has blasted higher, gaining 61% to trade at $153.54 as news of the Coinbase announcement spread.

Climate-neutral developer platform Near (NEAR) is up an impressive 30% this week, including a 10% rise today to $10.18.

The project’s website says that Near provides scaling solutions to help increase Web 3.0 adoption.

“The Creator Economy requires robust infrastructure including a set of intuitive developer tools, and an engaged, decentralized community.”

The final notable altcoin on the move this week is the cloud computing project FLUX (FLUX), which offers a comprehensive suite of developer-friendly tools for Web 3.0 and decentralized applications (DApps).

Native token FLUX can be used to buy resources, collateralize nodes, and fuel network transactions.

FLUX recently got a boost when popular crypto marketplace Binance announced the token would be available on its trading platform.

The creator of the Zelcore digital wallet and formerly known as Zelcash, FLUX has jumped by 37% over the past week to $1.78.

In contrast to these trending altcoins, leading crypto Bitcoin (BTC) has retraced by 7% over the same time frame to $47,311.

Second-ranked Ethereum (ETH) has also declined by 14% to $3,708, at time of writing.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Altcoin Project Backed by Billionaire Chamath Palihapitiya Explodes After Coinbase Pro Listing

by Dailyhodl

An altcoin that has received support from billionaire investor Chamath Palihapitiya is surging after a surprise listing by top US crypto exchange Coinbase.

In a new blog post, Coinbase says that Decentralized Social (DESO) will start trading on Coinbase Pro once appropriate liquidity conditions are met.

The layer 1 blockchain project aims to provide scalability to social media applications for up to a billion users. Decentralized Social is open-source and stores all data on-chain.

Coinbase says of the native token DESO,

“DESO can be used to purchase ‘social tokens’ and NFTs [non-fungible tokens], and to create profiles and posts for Decentralized Social applications.”

The altcoin shot up as news of the Coinbase Pro listing spread. DESO is up over 38% on the day to $138.34. The 87th-ranked crypto had previously been trading in the $75 – $105 range over the past 30 days.

The token reached a quarterly high above $150 back in September after the project changed its name from BitClout and raised over $200 million in capita, including from venture capital firm Social Capital.

Social Capital CEO Chamath Palihapitiya mentioned DESO back in October as part of his basket of investments to hedge against inflation.

“I’m very concerned about medium-term inflation… I want to own three things: hypergrowth [firms]… cash-generative assets… and then I want to own non-correlated assets: Bitcoin, Solana, DESO, a lot of the DeFi [decentralized finance] protocols because it’s a great counter-intuitive hedge…”

According to the Decentralized Social website, the project seeks to empower creators to monetize their efforts.

“The DeSo core development team is relentlessly focused on using the power of blockchain to create as many new ways for creators to monetize as possible.

And because DeSo is an open platform, every new feature becomes instantly available to thousands of developers who will invent new products we’ve never seen before.”

Coinbase says the token will be available to trade paired with USD, EUR and USDT.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Bitcoin Has Already Effectively Replaced Gold, According to Billionaire Investor Chamath Palihapitiya

by Dailyhodl

Billionaire investor and former Facebook executive Chamath Palihapitiya says that Bitcoin (BTC) has already effectively replaced gold as a store of value. 

In a new CNBC interview, the founder and CEO of Social Capital shares why he believes the market share of the flagship cryptocurrency will continue to grow. He also predicts a swath of other crypto projects growing in prominence due to solid use cases. 

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“Bitcoin, I think, has effectively replaced gold, and it will continue to do so and so that market cap is just going to grow. 

Then for the first time, I think we’re seeing the initial versions of the solution that we thought Bitcoin was supposed to be: smart contracts, better savings accounts, better insurance, better credit scoring, and that’s happening through this DeFi (decentralized finance) stuff that’s being built on Ethereum and Solana.”

The venture capitalist says he’s wary of medium-term inflation and names Bitcoin and two other altcoins as part of an inflation-resistance investment portfolio. 

“I’m very concerned about medium-term inflation and so in an inflationary environment, in my very simplistic view of the world, I want to own three things: hypergrowth [firms] because hypergrowth can always outrun inflation. Think of that as like companies that are growing 50 plus percent a year. It’s incredible growth, right? 

Then I want to own cash-generative assets, a great example is like a mining stock. I know that sounds crazy, but it’s pretty incredible. And then I want to own non-correlated assets: Bitcoin, Solana, DESO (Decentralized Social), a lot of the DeFi protocols because it’s a great counter-intuitive hedge against all of these stuff.”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Four Altcoins Surge 76% or More in Just One Week in Defiance of Crypto Market Correction

by Dailyhodl

While most of the crypto market continued to suffer through a correction over the past week, a handful of low-cap altcoins skyrocketed in value.

DESO, the native token for Decentralized Social, surged by more than 90% over the past seven days. The 75th-ranked asset by market cap is trading at $140.16 at time of writing, according to CoinGecko.

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According to the project website, Decentralized Social aims to be a “blockchain custom built from the ground up to power and scale a new category of decentralized social applications to one billion users.”

Last week when DESO launched, entrepreneur and software engineer Nadir Al-Naji revealed he was also the creator of BitCloud, and previously known only as Diamondhands, The Block reports.

Al-Naji has received $200 million of investment capital for the new project from a number of venture firms, including Andreessen Horowitz, Sequoia, Social Capital, TQ Ventures, Coinbase Ventures, Winklevoss Capital, Polychain Capital, Pantera Capital, and Arrington Capital.

The native token for the financial technology (fintech) payment solutions platform COTI (COTI) skyrocketed by 86.6% in the past week. The 140th-ranked asset by market cap is trading at $0.586221 at time of writing. Coinbase added support for COTI across all its platforms last month.

DYDX, the native token for the decentralized margin trading platform dYdX, also surged by 86.6% over the past seven days. The 91st-ranked asset by market cap is trading at  $21.98 at time of writing, according to CoinGecko.

Activity on DeFi trading platforms has ballooned in the wake of China’s latest ban on cryptocurrency, CoinDesk reports.

CELR, the native token for the layer-2 scaling platform Celer Network, has skyrocketed by 76.9% in the past week. The 104th-ranked asset by market cap is trading at $0.156322 at time of writing.

Celer Network’s multi-chain network cBridge doubled its transaction volume in the past week, according to the project.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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