Will Mastodon prove the better social choice for crypto-lawyers?

by Arthur · November 7, 2022

Elon Musk’s acquisition of Twitter has seen users defect to rival platform Mastodon, which has a unique appeal for cryptocurrency advocates.

Musk completed his takeover of the social media platform last week, kicking off his period of widespread layoffs. Despite claims to strengthen free speech, Musk has immediately banned a prominent comedian to impersonate him in her profile.

In the wake of these actions, which justify concerns about the concentration of such power in one person, are alternatives budding. While TikTok and Discord are a pair with significant momentum, one upstart should appeal to blockchain followers specifically.

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Enter Mastodon, the decentralized Twitter

This platform is called Mastodon, established by German programmer Eugen Rochko in 2017. Ironically, Rochko was motivated to create the platform when the liberal entrepreneur Peter Thiel appeared ready to buy Twitter himself.

Although it works similarly to Twitter, with hashtags and ‘toots’, it has a unique underlying feature that sets it apart.

Rather than operating under a central authority, such as a company like rival platforms, Mastodon is effectively decentralized. While Rochko is based in Germany, Mastodon is also managed by other volunteers who host thousands of servers around the world.

Users then share posts and links on their local servers, known as “instances”, which are interconnected across the global network.

This setup gives users greater autonomy, such as choosing a server, or the ability to launch their own instance. No individual or organization can make sweeping decisions, or dictate how the system works.

If extremism or toxic behavior appears on a server, other instances can simply cut ties, effectively isolating the negative impact.

Next step, Blockchain integration?

Several of these attributes should sound familiar to those who own or have read about cryptocurrencies and blockchain technology. One of the characteristics of blockchain networks is their decentralized infrastructure, likewise with the aim of ruling out concentrated dominance.

A commenter on Twitter highlighted the parallels between Mastodon’s growing adoption and the appeal of Bitcoin. “I’m seeing a lot of comments along the lines of, ‘I opened a Mastodon account in case Twitter goes to shit under the Musk administration,'” Yannick said. “That’s exactly what Bitcoin is – an insurance against centrally controlled currencies, in case they go to shit.”

While this may make Mastodon the social networking platform of choice for crypto devotees, it still lacks the encryption features that enable the secure transfer of value underlying cryptocurrencies.

However, if more blockchain enthusiasts end up migrating to the platform, it could lead to demands for the integration of the innovative technology.

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