Top 3 Web3 social networks: a new generation of social networks
Web3 social networks refer to social networking platforms built on decentralized protocols and blockchain technology. These networks are aimed at solving various problems that exist in the usual centralized social networks.
In our rating, we decided to talk about the 5 main platforms that you can start using in 2024 in order to evaluate all the benefits of decentralization.
What is special about Web3 platforms?
Before moving on to specific projects, it is worth talking about why the user in general should use them.
Decentralization
Web3 social networks operate on a decentralized basis, meaning that they do not rely on a central authority or server to function. Instead, they use blockchain technology and peer-to-peer networks to distribute data and power among users.
Blockchain technology
It powers Web3 social networking, providing a transparent and secure way to record and verify transactions and interactions on the platform. This allows for greater trust and accountability within the network.
Tokenization
Many Web3 social networks use tokens or cryptocurrencies as a means to encourage user participation and content creation. Users can be rewarded with tokens for providing valuable content, interacting with others, or performing other actions that benefit the network.
Compatibility
Some Web3 social networks are looking to interoperate with other platforms and applications, enabling seamless sharing of data and content between different decentralized services.
Community Management Methods
Many Web3 social networks implement governance mechanisms that allow users to participate in decision-making processes related to the development and management of the platform. This may include voting on protocol updates, content moderation policies, and network resource allocation.
Top 3 Social Networks Web3
1. Mastodon
Mastodon, a decentralized, open-source social network, is gaining attention as a bastion of freedom and privacy in the online sphere. community dynamics and its potential to change the world of social networks.
Degree of decentralization of the system
Mastodon’s decentralized architecture sets it apart from traditional social media platforms. Instead of one central server, Mastodon operates through a network of independently managed nodes, each with their own rules and moderation policies. This decentralization promotes sustainability, diversity and restriction, offering users greater control over their online experience.
User interface
Mastodon may seem intimidating at first glance, especially for users accustomed to centralized platforms. However, its simplicity and clean design makes the user experience easier. You just need to get used to the unusual look a little. Features like timelines, hashtags, and content alerts make it easier to find content and navigate the Mastodon ecosystem.
Platform community
Mastodon boasts a vibrant and diverse community that includes individuals and groups with different backgrounds and interests. Users can join instances tailored to specific topics, languages, or ideologies, fostering the development of niche communities and subcultures. This diversity enriches discourse and promotes meaningful connections, free of the echo chambers often found in centralized social networks.
Moderation and management
Unlike centralized platforms where content moderation is carried out only by developers, Mastodon gives administrators and moderators the ability to set their own rules and standards. While this decentralized approach promotes autonomy and freedom of expression, it also raises concerns about inconsistent moderation practices and the potential for abuse. However, transparency and community-driven governance mechanisms play a vital role in addressing these issues.
Privacy and data storage
Mastodon prioritizes user privacy and data ownership by offering strong privacy controls and encryption features. Users have granular control over their data sharing preferences and can export their data at any time. Additionally, Mastodon’s siled model minimizes the risk of centralized data breaches, increasing user trust in the platform.
2. Steem
Steem has established itself as an innovator in the field of decentralized social networks, offering a unique platform where content creators are rewarded for their contributions.
Content creation and reward mechanisms
Steem’s content creation platform provides a fertile ground for creators to share their work and interact with audiences. The platform’s reward mechanism, based on blockchain technology and cryptocurrency, incentivizes users to create high-quality content and make meaningful contributions to the community. Through mechanisms such as voting and curation, users can earn Steem tokens based on the value their content generates.
Decentralization and data ownership
Central to Steem’s success is its decentralized governance model, which gives users the opportunity to participate in decision-making processes and shape the future of the platform. Through online voting mechanisms, users can propose and vote on changes to protocol, content moderation policies, and community initiatives. This democratic approach promotes transparency, accountability, and community cohesion, setting Steem apart from traditional social media platforms.
Privacy and data storage
Steem prioritizes users’ rights to data and privacy, offering users granular control over their personal information and content. Using blockchain technology, Steem ensures data integrity and immutability, protecting user data from unauthorized access and manipulation. In addition, users retain full ownership of their content with the ability to monetize their contributions without intermediaries.
Platform community
Steem boasts a vibrant and diverse community of content creators, curators, and consumers, spanning a variety of interests, languages, and geographies. The decentralized nature of the platform allows niche communities to thrive; everyone will find a social circle here. With features like communities and tagging, users can explore content that matches their interests and interact with like-minded people.
Platform Disadvantages
Despite its innovative features and commitment to the community, Steem faces challenges such as scalability, user adoption, and regulatory uncertainty. Addressing these challenges will require ongoing development efforts, strategic partnerships, and community outreach initiatives.
3. Hive
It operates on a DPoS (Delegated Proof of Stake) consensus mechanism similar to Steem, although with notable differences. To participate in the governance of Hive, users must “lock” their HIVE assets as their own funds. This sets it apart from Steem, where users can participate without having to contribute their own funds.
Unlike Steem, which allows you to participate in governance simply by owning STEEM tokens, Hive requires staking HIVE assets to participate in network governance. This approach aims to develop community-driven social media platforms.
Tokens can be returned by converting them back into liquid (usable) HIVE tokens, a process with a 13-week waiting period. Unlike some networks, Hive does not use token burning. HIVE staking accelerates transactions based on currency fluctuations, providing security for holdings and diverse ecosystem transactions.
Currency HIVE
Hive works with two major digital currencies: HIVE and HIVE Backed Dollars (HBD). Enabling HIVE converts it to HIVE Power, giving users rights within the network. This can be canceled at any time by turning off the power, unlocking HIVE Power coins for trading.
What is HIVE used for?
Hive Cryptocurrency (HIVE) was created to develop decentralized, content-centric social blogging networks. Users may post content of varying lengths to Hive, subject to moderation and possible compensation.
Hive is a Web3-based ecosystem that includes decentralized social networks, forums, and underlying tokens. Using the fast, low-cost, and scalable Hive protocol, developers can create decentralized applications such as games and NFT markets with minimal barriers. HIVE and HBD cryptocurrencies facilitate transactions, have minimal fees and wide applicability.
Investors in HIVE get access to fast transactions, easy transfers, scalability, and customizable usernames for accounts and wallets. Additionally, escrow incentives and terms increase engagement in social media, gaming, and blogging.
Xthread is a social media that allow users to earn Cryptocurrency $BTCX for post, like or comment. Users can stake BTCX earn USDT ~ 20% APR.
Tangled: A Fusion of Social Interaction and Earning Opportunities
Conclusion
In the digital age, the ability to express oneself freely online is increasingly threatened by censorship and content moderation practices imposed by centralized platforms. Web3 social networks offer hope for the protection of freedom of speech and expression in online communication.
The ability to communicate without fear of censorship or reprisal is incredibly important to any society. Therefore, it is important to have access and general knowledge about platforms that are not controlled by a single creator or company. Realizing that the lack of proper moderation affects content, you can safely use the new generation of social networks.
