It was around 2004 when Web 1.0 (the static web) was completely absorbed by Web 2.0 (the web as a platform). Web 2.0 is the web we know today, which focuses on user-created content (social media and blogs). This content and the corresponding data generated are stored on a centralized server owned by a company, such as Google or Facebook. With the power and influence of these companies, the main criticism towards them is the use of the large amount of data as currency for brand advertising.
In response, web 3.0 was born, an even more intelligent web that will be able to interpret and interconnect a greater number of data, in a decentralized way and without intermediaries. This evolution in the web allowed the creation of decentralized social networks as the alternative to traditional social media.
In this article, we explain what decentralized social networks are, how they work, and we list some of the most popular decentralized social networks at the moment:
Defining Decentralized Social Networks
Decentralized social media is an open-source, blockchain-based alternative to traditional and centralized social media platforms such as Facebook, Twitter, YouTube, and other centralized social media platforms you can think of.
Decentralized social media essentially operates on servers that run independently, implying that they are not in the hands of a corporation or government as with most centralized alternatives. Instead, their users make all the decisions surrounding its operation and networking.
Blockchain technology is the driving force behind decentralization, a technology that has become very popular and highly in demand. This blockchain allows social media users to experience a more secure, transparent, decentralized social network with no central administrator or point of control. By leveraging blockchain technology, decentralized social media platforms are available as decentralized apps (dApps) and are resistant to attackers, censorship and undue control, and third-party interference.
This type of social platform further ensures that your data is spread out between several different independent nodes within the underpinning network rather than being held by one single entity or multiple entities, depending on how many social media platforms you use.
How do Decentralized Social Networks Work?
As mentioned, decentralized social networks are a class of decentralized applications (dapps) — applications powered by smart contracts deployed on the blockchain. The contract code serves as the backend for these apps and defines their business logic.
Traditional social media platforms rely on databases to store user information, program code, and other forms of data. But this creates single points-of-failure and introduces significant risk. For instance, Facebook’s servers infamously went offline for hours last year, cutting off users from the platform.
Decentralized social networks exist on a peer-to-peer network comprising thousands of nodes around the globe. Even if some nodes fail, the network will run uninterrupted, making applications resistant to failures and outages.
Using decentralized storage systems like the InterPlanetary File System (IPFS), social networks built on Ethereum can protect user information from exploitation and malicious use. No one will sell your personal information to advertisers, neither will hackers be able to steal your confidential details.
Many blockchain-based social platforms have native tokens that power monetization in absence of advertising revenue. Users can buy these tokens to access certain features, complete in-app purchases, or tip their favorite content creators.
Benefits of Decentralized Social Networks
As you’ve already discovered, decentralized social media provides users with several advantages over traditional social networks like Facebook and Twitter. However, before deciding if it’s right for you, diving deeper into some specific benefits will help.
Increased User Control
Decentralized social media also provides users with increased control, which is something traditional social media platforms offer little to none of. In fact, it’s one of the core concepts driving blockchain technology and today’s emerging decentralized social platforms. With decentralized social networks, users have control of their data and their experience because there’s no central authority dictating the rules.
Monetization
Another key feature of decentralized social media is equitable monetization for users and community members. Unlike the imbalanced monetization schemes of traditional social media, decentralized social networks promote social earning through the use of native tokens serving as the equivalent to Bitcoin, Ethereum and other major cryptocurrencies. This could change the game for content creators.
Less Downtime
Since decentralized social media consists of DApps running on blockchain-based networks like Ethereum’s, and is sustained by an intricate network of nodes located around the globe, decentralized social networks experience little to no outages or downtime.
No Censorship or “Middleman”
Decentralized social media also eliminates the “middleman” and gives content creators direct ownership and control of their data and content. They can also engage with followers, fans, customers and others directly, with only a smart contract standing between them.
Drawbacks of Decentralized Social Networks
Despite all of its advantages, decentralized social media isn’t perfect. Like other types of technology, it has its drawbacks.
Not As User-Friendly
Decentralized social networks are generally less user-friendly than larger traditional social platforms. This can be challenging for users, and it’s a hurdle many decentralized platforms must overcome before achieving widespread adoption. Often, what makes or breaks an app’s success is the simplicity of its interface. For the most part, decentralized social media apps built on blockchain technology miss the mark in this regard.
New Security Threats
With decentralized platforms also come new security threats. Not only do decentralized networks allow just about anyone to join and contribute anonymously, but they also use public key cryptography for account security, which is something most users find difficult to manage. Creating a social media DApp that’s both easy to use and cryptographically secure can be challenging at best.
Growth Challenges
With years of operation and feedback from millions of community members, existing social platforms have perfected their interfaces. The same cannot be said of decentralized networks, which continues to hamper their growth in the immediate future. The easier they become to use, the more widespread their usage will become.
Great Potential, But Needs Time
Social networks are incredibly intricate machines that take years to fine-tune. This is why it may take some years for decentralized social media platforms to become relevant and useful enough for larger numbers of people to give them a try.
But that doesn’t mean they don’t have potential. With people becoming more and more frustrated by Big Tech and its regular mistakes, we may certainly see a shift to decentralized communication in the not too distant future.
