Social media platforms might be experiencing a change since mass blockchain adaption. These 3 companies represent the decentralization which blockchain can add to the social media phenomenon. Up until now, people have been using social media sites like Facebook and LinkedIn or Instagram very naively. But when the news of Facebook yearly income spread the world, a lot of people started to think – how can they be making so much money only from adds? They must be doing something else to get such unbelievable returns. Yes, they are basically tracking your life, everything you do on their platform, everything you type and everything you like. Then they sell this information to all the companies you follow for a huge amount of money so that the company which you follow can know exactly what to offer to you and at what time. And a lot of people were asking for a change. Couldn't there be a social media platform which doesn't store all your information on a centralized platform? Couldn't there be a social media platform where I could get paid for the things I publish or get involved with? The answer to these questions are – there already is! And they are fully working and people are satisfied. So here is an overview of the three most popular blockchain-based social media platforms:
Steemit
Steemit is the pilot project for blockchain-based social platforms. Built on the Steem blockchain it is a social media decentralized platform where bloggers get paid for their posts and comments. Steemit has more that 60 apps like Steemwiki, Steem.cloud, Streemian, D-tube and many more.
“Running a rewards-based decentralized social network required new advances in blockchain technology. Steem is a next-generation blockchain, uniquely designed to run real-time applications with near instant, fee-free transactions. Steem has been battled-tested over the last 18 months, already processing more transactions per second than Bitcoin and Ethereum,” says on their website. They claim that they have around 920k users and that they all got paid $40 million in the past year. In my opinion this is the strongest competitor to Facebook, because it has a strong user base, decentralized platform, a community which controls the feed and most of all – rewards which you can actually spend. Countless people around me have started their crypto-journey through Steemit and have made serious money. In my opinion, this is the best platform for individual/independent bloggers, because you get paid straight away, if your content is good. You don't have to go through a publishing house or an editor, you own your content. Because on this platform content is the key.onG.social
OnG.Social or SoMee allows you to connect and build a community on a social network where you have the control of your private data, information and monetization of your social media channels. It runs on two blockchains, Ethereum and Waves. They also have their own token and a wallet service – SoMee wallet and ONG coin - with which the user is in full control of his private keys “and includes an in-wallet token exchange with over 100 ERC-20 tokens, an address book for tracking payments and transactions for safe record keeping,” says on their website. You also can make a page for your ICO or Company and improve it with a Bounty and Airdrop manager. Plus all that they also have a staking program. “All stakers are rewarded based on the amount and length of the stake and receive a percentage split of the advertising revenues (paid monthly) plus additional bi-annual/annual staking rewards for those who stake 125K ONG and above,” is written on their web.
It has been around for quite a while, and is one of the first social blockchain platforms. Users can link their accounts with all the top social platforms – Facebook, Twitter, Youtube, Steemit and more. The thing which sets me aside is that they haven't published their approximate user base and the fact that their integrated token price has bottomed out, which can lead to a lot of different actions from the company.Indorse
Indorse is a LinkedIn type of a decentralized platform which is based on the Ethereum blockchain.
They use different methods to validate skills in a simple and objective way like - decentralized consensus, where examples of skill are judged anonymously by random other users, or A.I. based systems like chat bots for automated real-time validation.
“If someone is an expert in NodeJS, they put up a claim and attach proof such as their GitHub repos. Other members in the same domain on Indorse verify it. Based on the consensus, the claim is either ‘indorsed’ or flagged,” said David Moskowitz, the co-founder and CEO at Indorse.
Users are rewarded for their activity on the platform with IND tokens. These tokens can later be traded or used on the platform to purchase services like advertising, or company pages with validated connections, says on their web. They have been mentioned in a lot of popular media outlets like Nasdaq, Inc., Forbes, Independent, CNBC and more.
Source:
https://goo.gl/MGEjCT
https://steem.io
https://steemit.com/
https://www.ongcoin.com
https://indorse.io
https://goo.gl/s5EeRu
Written and gathered by:
Jānis Rijnieks