Decentralized Social Blockchain Surpasses 1.5 M Users

by in Cryptocurrency News

DeSo blockchain

Project specialized in hosting social media platforms and apps, Decentralized Social (DeSo) announced that the number of accounts created on the network has passed 1.5 M.

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Currently, the native coin of the blockchain, DESO, trades at around $59. In the last 7 days, the DESO price increased by around 90%.

The present growth of DeSo happens amid discussions about social media. A few days ago, Tesla and SpaceX CEO Elon Musk posted a Twitter poll asking if the algorithm of Twitter should be open source. The results show that around 82.7% of 1 million participants would prefer the system that way.

There were users urging Musk to develop his own solutions for a decentralized social network. Many pointed out that there are Web3 platforms, which are already open-source.

A major DeSo upgrade is the protocol's switching from the Proof-of-Work consensus mechanism to Proof-of-Stake.

Also, DeSo Foundation revealed earlier this month that it plans to launch a new platform, DAODAO. The team started the development in the middle of last year. DAODAO is the first platform enabling users to create a DAO (Decentralized Autonomous Organization) as easily as opening a social media account. DeSo says the platform will make investing in a DAO as simple as sending an email.