THE STEP AND JOURNEY OF BLOCKCHAIN BASED SOCIAL MEDIA PLATFORMS.

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What is the blockchain technology? to simply put, the blockchain technology is defined as being a ledger for managing transaction data and information and for keeping records however, it is not just any kind of ledger, though it is a very secure and advanced one, one that has earned that is known as "immutable" and "tamperproof.", with that you can say that the blockchain is an immutable ledger that was developed and created to support and facilitate the operations of the first cryptocurrency, Bitcoin, and any other cryptocurrency to come.

What is a social media platform? Social media platforms just by the name is a platform for social activities, where we go to chat and make posts however if you apply and implement the blockchain technology to the social media platform we have or we will create a decentralized and blockchain based social media platform, this was a very good and creative idea to apply the features of blockchain to social media platforms hence we have platforms like hive and steemit, but before it became the platform we know today there must have been a long journey.

Therfore please do join me to examine and discuss some of the significant developments in the development of these decentralized and blockchain based platforms, but before that you should know that this is a two part post so as you enjoy reading this post keep in expectation of the second part.

INTRODUCTION AND CREATION OF THE BLOCKCHAIN TECHNOLOGY

If you have not already forgotten, if you have you can refer back to the first subheading, you will see where I mentioned that the blockchain has and possesses certain characteristics and features like decentralization, privacy, transparency not only that, I also mentioned that it is protected by cryptographic security protocols seeing as the blockchain technology is a very advanced and innovative technology, a ledger for record keeping that is immutable and tamper proof, one that securely stores data and information of transactions and other activities.

Smart contracts too, a feature, mechanism and tool implemented in the blockchain technology which was developed and launched shortly after the launch of the Ethereum project, is also among the first step of the growth and development of blockchain based social media platforms seeing as they are also implemented in these platforms as well, smart contract first of all is a self executing contracts with the terms directly written into its code and program it allows for automation in transaction processing and also increased efficiency.

Additionally, smart contracts enable and facilitate the creation of decentralized applications (dApps) as well as the very popular means of trading cryptocurrency assets and tokens on our exchanges known as peer to peer (p2p) transactions, these peer to peer transactions are facilitated and executed without the need for intermediaries, and as a result allowing users to share content, engage in social activities, and conduct transactions directly on the platform and it is all thanks to smart contract.

IMPLEMENTATION OF DECENTRALIZATION IN THE SOCIALMEDIA PLATFORMS

Basically after the introduction and development of the blockchain technology and its other advanced technology like smart contract, then developers could then now start looking forward to their goal and aim of creating a blockchain based socail media platform at which point they began experimenting to find the model or type social media and its method of operation, one that would operate on transparency and decentralization with that they probably created steemit and Hive just to mention a few blockchain based social media platform.

Additionally, an example or case study of a blockchain based social media platform, we can look at our own Steemit platform, which was essentially launched in 2016 today basically markes it over eight (8) years since its launch and introduction, as we all know, the Steemit platform uses the Steem blockchain and pays users in cryptocurrency, its native token steem for producing and creating quality contents and also for curating content, steemit is a very good example of the kind of blockchain based social media platform that essentially allows users to profit directly from their engagement and participation.

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CONCLUSION OF PART I

This post that I have made in this community is basically the first part of a two part post that basically explains two noteworthy steps and significant points in the journey and growth of decentralized and blockchain based social media platforms a typical example as we all know is the steemit platform, and if you were following this post or would just go back to check you would see that I stated that the growth, development and journey these different blockchain based social media platforms started with the creation of the blockchain technology first and other important technologies like the smart contract, cryptographic security protocols and so on.

After discussing about the implementation of the blockchain technology into the creation of the decentralized social media platforms I now went on to talk on how it then begin to develop and gain the adoption and attraction of users, if you enjoyed reading please drop your supportive comments and watch out for the next part of this post; the steps and growth of blockchain based social media platforms.