Coinbase-backed decentralized social blockchain (DeSo) revolutionizes with new proof-of-stake system

by Arthur · March 24, 2023

Los Angeles, California, March 24, 2023, Chainwire

DeSo, the decentralized blockchain for social media, has introduced a groundbreaking Proof-of-Stake (PoS) system, setting a new standard for the industry. This innovative technology promises to revolutionize and build on the successes of previous Proof-of-Stake systems, providing greater energy efficiency and security while deflating its native currency, $DESO.

Implementation of this new Proof-of-Stake system marks a significant milestone for DeSo Blockchaina new tier-1 that raised $200 million from Sequoia, Andreessen Horowitz, Coinbase Ventures and more.

DeSo’s state-of-the-art system combines and refines all the best elements of previous PoS systems, including Tendermint, HotStuff, DiemBFT, Ethereum, Solana, Avalanche and Flow.

It was aptly named “Revolution” due to its revolutionary new features that build on the successes of previous mechanisms of other leading tier-1 blockchains. One of the most exciting new features is a new concept called Revolt.

“Revolution represents a major breakthrough in the blockchain industry. Our new concept, Revolt, not only makes Revolution one of the most censorship-resistant systems out there, but also addresses a major problem with existing smart contract systems – miner-extractable value,” said Nader Al-Najifounder of DeSo.

Nader Al-Naji added: “We are pleased to introduce approximately a dozen distinct breakthroughs over existing proof-of-stake mechanisms with Revolution. These breakthroughs are arguably worthy of their own distinct academic paper.” Al-Naji’s statement highlights the significant progress Revolution has made and its potential to drive innovation in the blockchain space.

Similar to the Ethereum PoS system, DeSos Revolution PoS requires validator nodes to unlock a deposit of $DESO on the network to participate in consensus. Using crypto as security forces the nodes to behave properly and helps keep the network secure.

Other exciting features include:

Maximum deflation, where transaction fees are burned to the maximum extent possible, making $DESO deflationary.
Revolution Rule, which automatically time-out managers that censor the mempool transactions.
Superb effort, where users only need to lock $DESO for about three hours, greatly improving security.

The white paper has not yet been released, but will be very soon. Users can read more about DeSo’s Revolution Proof-of-Stake here.

Exciting times lie ahead for the decentralized social media blockchain as it prepares to launch a number of ground-breaking innovations on top of its Revolution Proof-of-Stake.

DeSo is changing how we interact with social media with upcoming launches like DeSo Drive and The Decentralized Web. DeSo Drive provides users with a faster, cheaper and more secure alternative to Google Drive, while The Decentralized Web lays the foundations for a fully decentralized internet accessible to all.

These innovations embody DeSo’s bold new vision for the future of social media and the Internet.

“As a team, we remain focused on our mission to move away from a world where a handful of megacorps control our information,” said Nader Al-Naji, founder of DeSo blockchain. Nader Al-Naji added: “With the launch of Revolution, DeSo Drive, the decentralized web and our other upcoming launches, we are not only building a better blockchain. We are building a technological foundation that we believe will eventually replace the current platform monopolies that take take care of all our sensitive data today.” Al-Naji’s statement underscores the long-term vision of the DeSo team to create a more decentralized and user-centric future for the Internet.

This is just the latest in a string of successes for the recently launched DeSo MegaSwapwhich allows instant chain swaps for Bitcoin, Ethereum, Solana, USDC and soon many more currencies.

In addition, DeSo just went live with it Open funda pioneering fundraising platform that allows founders to launch tradable coin-backed fundraising rounds open to anyone in the world.

Users can learn more about DeSo and claim their decentralized, censorship-resistant profile here.

About Deso

DeSo is a new layer-1 blockchain built from the ground up to decentralize social media and scale storage-heavy applications to billions of users. It raised $200 million and is backed by Sequoia, Andreessen Horowitz, Coinbase Ventures, Social Capital, Polychain Capital, Winklevoss Capital, Pantera and other blue chip funds.