Blockchain-Powered Social Media Platforms to Watch in 2020

Asia Blockchain Review
January 7, 2020

Concerns have been raised about the security of personal data on many leading centralized social media platforms, such as Facebook and Youtube. Blockchain technology has even been adopted to create platforms that can meet demands for truly decentralized social media. The following are some of the most widely used alternatives.

LBRY

LBRY is a free, open and community-driven digital marketplace for app building. It enables users to create databases that no single entity controls while storing financial transactions using LBRY Credits. Created entities are made on the LBRY blockchain.

Uptrennd

Sateofthedapps.com calls Uptrennd “a new-era social media platform built on freedom of speech, security of data, and the distribution of wealth.”

Currently centralized, Uptrennd plans to become fully decentralized within 3 years. This fully self-funded project has been touted as one of the most exciting new platforms in the ecosystem.

Steemit

Steemit is a social media platform where everyone gets paid to create and curate content. Using the Steem cryptocurrency, the platform reads and writes content to the Steem blockchain. Users are rewarded with digital tokens for their contributions, based on the votes that their content receives.

Theta

Theta is a blockchain-based video delivery platform developed by SLIVER.tv. Aiming to promote decentralization and better reward distribution system, Theta allows viewers to use their tokens to reward the content creators directly. The content creators will have to rely less on advertisers or third-party hosting websites as the platform does not require an intermediary.

Minds

Minds is an open source social media and social networking service developed by Bill Ottman and John Ottman in 2011. Minds rewards contributors with tokens on the Ethereum blockchain.

Source: www.altcoinbuzz.io


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