Decentralized Social Media LinkedIn Competitor Launches on DeSo, While Web3 Will Not Be Using Smart Contracts
May 03, 2022 at 16:23
The DeSo Foundation, an organization focused on a new layer-1 blockchain built from the ground up to scale decentralized social media applications, is pleased to announce that Entre, which is the first decentralized LinkedIn competitor, has been launched on DeSo. Entre is an app that is built on top of the DeSo blockchain. Meanwhile, Web3, which is the new iteration of the World Wide Web based on blockchain technology, will not be using general purpose smart contract blockchains that have gained prominence in decentralized finance or DeFi. DeSo is actually pushing for an advanced technological breakthrough known as HyperSync that will be used in lieu of smart contracts.
Michael Marra, founder and CEO of Entre, believes that this development about the application of blockchains and decentralization to social networks is about giving back the power to the people. He points out that one of the problems that come with centralized social network platforms is censorship and another is monetization. This is because of the nature of traditional centralized social networks, which are controlled by only a few private companies. They own and control all of the content in these networks even if the content was not created by them but by the users themselves.
The name Entre comes from the word “entrepreneur” and Entre is a social Web3 app that runs on DeSo. In this social network, the self-employed, traditionally employed, and any other professional can post content and perform business transactions. They are able to conduct meetings, hire staff members, and host virtual events with the app serving as a decentralized, digitally monetizable alternative to LinkedIn, Google Calendar, and Zoom. Marra believes that blockchains can be built in order to make it easier for the community to report things. Community members, particularly those with higher authority, can report about someone posting dubious content. Marra argues that this kind of blockchain verification will prevent bad content.
And most important of all in decentralized social media, such as Entre, is equitable monetization for members and content creators. While in traditional social media, much of the monetization goes to the private company running the social network with very limited income for content creators, monetization in the decentralized version is a game changer. On the DeSo blockchain, the DESO token may be used to buy creator coins. However, Entre will not be using creator coins but instead, they are focused on enabling content creators to earn DESO tokens via tipping when they livestream. Entre users may also sell tickets to in-person or virtual events and ask for payment for private one-on-one services, such as coaching and consulting. Entre offers a Discord- and Slack-like community feature where membership fees may be charged and users can provide services, such as graphic design. At the present time, DESO is the only cryptocurrency being accepted on the app, but Marra plans to offer several tokens in the future.
The ultimate goal of DeSo is that all of the data will be stored in a public blockchain. This means that anyone from whatever location in the world can run a node that displays their own curated feed. Aside from Entre and the DiamondApp, which is Twitter-like app using the DeSo blockchain technology, there are over 100 projects running nodes and creating apps on DeSo. And because DeSo is fully open source, the various players can customize their UI and develop their own custom algorithms for ranking their influencers in their social network and their posts in such a manner that would be for the benefit for their target customers. This is projected to result into a gradual shift from a world where big companies control most of the social network feeds into one in which consumers can choose from thousands of available feeds with each feed having its own specific focus.
People who would like to know more about decentralized social networks can visit the DeSo website, or contact them through the phone or via email.
For more information about Entre, contact the company here:
20 W 34th St, New York, NY 100001