Decentralized Society

Decentralized Society: The Future is Here

By SimpleSwap | SimpleSwap Blog | 20 May 2024


Last May, a new concept appeared in the blockchain space – the decentralized society (DeSoc). It was introduced by Vitalik Buterin, Glen Weyl, and Puja Ohlhaver through their article, "Decentralized Society: Finding Web3's Soul."

Previously, the Web3 space was called a decentralized system, a new system, a community, but avoided the grand term "decentralized society." The appearance of this term in a public article resonated strongly – it was an official recognition of the significant influence cryptocurrencies have on social life.

Major analytical platforms quickly picked up and spread the idea. Specialists at Messari now use the term Decentralized Social in their reports, and CoinMarketCap has added Communications and Social Media to its token categories. Ethereum experts went further, promoting the concept of Decentralized Social Networks on their platforms.

How Are Decentralized Social Networks Different?

We'll start exploring the decentralized society by looking at communication systems. Decentralized social networks include a suite of decentralized applications (DApps) and their blockchain-based infrastructure protocols. Such networks function similarly to traditional social networks: users can create, publish, and share content without censorship and with monetization opportunities.

Social interaction in decentralized networks happens through infrastructure protocols, which include:

– User identification

– Messaging

– Content monetization

– Building an internal, user-driven decentralized economy.

Management in decentralized social network follows DAO principles, similar to how the decentralized physical infrastructure sector (DePIN) operates.

What Makes Up DeSoc?

To better describe the DeSoc system, we have broken it down into four main layers.

  • Data Layer

This includes smart contracts and content management systems. Smart contracts handle application backend, transaction storage, and computation. Content management systems, designed as independent L1 and L2, ensure reliable data storage and management.

  • Social Primitive Layer

Known as the heart of DeSoc, this layer develops the basis for social interactions:

– Connections between users (friendships, subscriptions, follows)

– Content interactions (likes, comments, reposts)

– Various forms of virtual and real influence (reputation, status, rewards)

  • Algorithm Layer

Content moderation and policy management happen at this layer. DeSoc algorithms are transparent and democratic.

  • Front-end Layer

This is where the final product is formed. Essentially, it’s a DApp with its own interface that users interact with.

Introducing "Souls": What Are Soulbound Tokens?

A Soulbound Token (SBT) is also known as a non-transferable token. It's like a user's passport, their personal identifier. Ethereum founder Vitalik Buterin proposed the idea in early 2022, inspired by the online game World of Warcraft, where unique artifacts belong to a single player.

An SBT functions similarly to an NFT, but it can't be transferred or sent to another blockchain address. It's issued only once, accessible only to the address owner. SBTs can:

– Facilitate communication between users, blockchain services, and DAOs

– Verify a user's compliance with certain conditions

– Serve as proof of a user's community membership

– Certify a user's unique status

Advantages of DeSoc Platforms

 

  • Open Source

 

Unlike TradSoc, DeSoc adheres to decentralization and transparency, increasing user trust in the platform.

 

  • Privacy

 

Anonymity can attract more users to DeSoc platforms, especially those who prefer not to share their personal data publicly. This policy is gaining traction in the new decentralized society and is warmly received by the public.

 

  • Crypto-Oriented

 

Content can be monetized via NFTs and crypto payments, speeding up and simplifying the process.

 

  • No Single Point of Failure

 

An extra layer of protection against cyberattacks and fraud.

 

  • Integration of DAO and SBT

 

Improved management systems, with control equally distributed among all social network participants, create a more trusting and favorable environment.

DeSoc Projects That Are Already Launched

Lens Protocol

In 2022, experts at Aave Companies developed the highly modular social graph Lens Protocol on the Polygon network. It can turn user accounts, message histories, and comments into NFTs. Users can sell their profiles on secondary markets like OpenSea. In spring 2023, an addition called Bonsai was released – a scaling solution for DeSoc. Bonsai helps manage a large influx of users and promotes further growth of Lens.

Mask Network

Another DeSoc based on the Ethereum blockchain, Mask Network focuses on quick cryptocurrency exchanges while maintaining privacy through "masks." These masks help users protect their personal data from prying eyes.

Farcaster

An alternative to X for the Web3 space, Farcaster operates on the OP Mainnet. Created in 2020, this product quickly gained traction, being actively promoted by Vitalik Buterin. With his support, Farcaster aims to become a leading next-generation social network.

CyberConnect

This decentralized social network was specifically designed for new social media. The key feature here is providing users with quick access to Web3 products.

Dtube

A decentralized video-sharing platform similar to traditional YouTube, Dtube prioritizes privacy, confidentiality, and freedom of speech while ensuring complete protection from censorship.

Conclusion

The blockchain space has evolved to a point where it transitions from merely servicing financial transactions to significantly influencing social structures. Analysts at Messari have noted that blockchain and the crypto sphere are no longer just a new type of finance but have become a socially significant category.

If you want to learn more interesting facts about crypto then check out our blog! You might like our articles “NFT and Publishing Industry: From Books to Articles” and “Protecting Endangered Species Through the Use of Blockchain”.

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SimpleSwap reminds you that this article is provided for informational purposes only and does not provide investment advice. All purchases and cryptocurrency investments are your own responsibility.

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