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

by Arthur · December 23, 2022

Los Angeles, California, December 21, 2022, Chainwire

Takeaways

Elon Musk posted a poll asking if he should step down as CEO amid backlash from a recent policy change that stated rival social networks could not post on Twitter
People immediately started calling for decentralized alternatives as a solution to today’s centralized social media platforms
The DeSo Blockchaina purpose-built layer-1 designed for 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 suggest Elon Musk’s Twitter revamp is moving in the right direction, with Twitter usage hitting a all-time high.

Still, with the uncertainty surrounding Twitter, some are wondering 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 free speech plan was to get us all to migrate from Twitter to web3 social platforms that actually support free speech.”

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

Web3 social platforms are growing in popularity, including DeSoa new tier-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 blockchain explorer OpenProsper.

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

Most people did not believe that 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. By contrast, DeSo is one ten-thousandth of a cent, making it the first blockchain capable of to disrupt storage-heavy applications such as social, blogging and even marketplaces, he says.

Diamond appeals to founders, developers, creators and casual users of social media. Additionally, it has blogging functionality, and several monetized features that creators can use to build, scale, and monetize their audience.

Users can learn 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 on deso.com.