With the internet’s evolution from the dot-com bubble to the social media age after the 2008 recession, the rich tapestry of online interaction is evolving significantly in the current time of 2024 and has a bright future ahead.
Traditional social media networks are often accused for invading users' privacy, using questionable data collection techniques, and imposing severe restrictions.
Web3 social networks aim to resolve users' pain points while offering innovative solutions. Such platforms create a more transparent experience by integrating cutting-edge technology such as Blockchain to enhance user’s privacy, and focus on fairness principles.
The Web3 social networking site uses a network of computers called nodes to run its operations rather than a single entity in charge of everything on a centralized server.
Additionally, with such decentralized platforms, users now have improved control over their online personas and data. Each of these sites has a native cryptocurrency or token that users acquire through meaningful contributions.
This article explores the top 7 Web3 social networking platforms available as of 2024 and beyond.
Mastodon
Mastodon is a free, open-source social media network that is becoming ever-popular as an alternative to sites like Twitter (X) and Facebook (Meta).
Users can add text, photographs, videos, music, links, and other content to their profiles and public feeds.
Mastodon is decentralized and uses a distributed server infrastructure. It means the network is made up of several linked servers functioning independently, as compared to relying on a single centralized server.
Each server is operated by a volunteer team of validators and reviewers who are in charge of setting guidelines and procedures to protect the security of associated users.
Due to the network's complete decentralization, no single organization can regulate the exchange or flow of information.
Steemit
Steemit is another popular social media and blogging platform that uses blockchain technology, offering publishing and curating content to users.
In 2016, Dan Larimer and Ned Scott created the project, which got inspiration from Reddit.
Utilizing blockchain technology, Steemit enables users to earn and secure tokens as rewards for posting contents and comments.
Steemit operates as a blockchain platform similar to Bitcoin, offering transferable tokens. Beyond facilitating token transfers, Steem is a database for text content and metadata, allowing applications and websites to interact with it. Such interaction includes transactions and database activities among Steem accounts.
BlueSky
Founded by Jack Dorsey, the former CEO of Twitter, BlueSky is a decentralized social network powered by the AT Protocol.
This innovative technology is the driver to BlueSky's decentralized mode, offering insight into the app's development and operations. Similar to Twitter, users on BlueSky can like, share, and comment on posts.
A major focus is placed on user autonomy, allowing users to control their feeds and content moderation, thus ensuring a tailored and positive user experience.
BlueSky differentiates itself by operating on an open-source framework, promoting transparency and community engagement, unlike many traditional platforms.
Notably, AT Protocol enables users to seamlessly transfer their accounts to another social networking platform without losing followers or data. This feature reduces the dependency on a single platform and furthers user autonomy.
BitClout
BitClout, built on DeSo blockchain, combines a cryptocurrency exchange with a social network, enabling users to buy and sell coins tied to individual profiles while expressing their views on the popular issues.
By March 2021, Bitclout had preloaded over 15,000 accounts onto its website without any prior consent or involvement from the individuals reported.
Within a month of launching, the platform attracted more than $200 million worth of Bitcoin, despite the lack of evident interest from notable users
Diamond App
Diamond App, yet another Web3 platform powered by the DeSo blockchain, is a decentralized social media network designed to give users control over their social identities and the opportunity to monetize their content and influence.
Offering a decentralized and free platform for blogging, Diamond App attracts over 130,000 active users monthly, thanks to its commitment to being 100% open-source and storing data on-chain.
This approach positions blockchain technology as a viable alternative to the closed ecosystem strategies of traditional web2 social media networks.
A unique feature of Diamond App is the creation of distinct tokens for each member of the social network, known as creator coins.
These coins reflect the reputation and influence of users within the network. It allows users to support their favorite creators by buying, selling, and holding creator coins from a broad spectrum of accounts, including their own.
Minds
Minds is a decentralized social networking platform that guarantees not to sell its member's data to protect them from unwanted marketing and advertising activities.
John Ottman and Bill Ottman co-founded Minds in 2011. In an effort to tackle the growing worries about centralized social media, it presents itself as a replacement for Facebook.
Minds operates as an open-source, free platform giving access to everyone for collaboration and content sharing, featuring end-to-end encrypted private messaging.
The platform aims to target individuals passionate about open dialogue amidst the polarized time of the internet world.
Lens Protocol
Stani Kulechov launched Lens Protocol, a decentralized Web3 social graph operating on the Polygon blockchain, in 2022.
This platform empowers users with full control, ownership, and customization of their social interactions. Its design prioritizes modularity and interoperability, making it easy for developers to integrate apps.
Lens Protocol puts a major focus on user sovereignty and decentralization, aiming to redefine the social media landscape. It enables a more controllable and autonomous social media experience, freeing users from the constraints of centralized platforms and content ownership issues.
With its flexibility and integration capabilities, Lens Protocol aims to position itself as one of the best social media platforms in the Web3 space.
Conclusion
Finally, Web3 emerges as one of the leading alternatives for traditional social media platforms operating on centralized principles. The ideal alternative for traditional social media platforms is a Web3 social network.
In Web3 social network, users can take advantage of enhanced transparency and community governance using blockchain protocols. Though such platform developments are still in their early stages, they are targeting global audiences and adoptions in the coming years.
Web3 is still very much in the early stages of development and will be occupied in evolution in the Web3 universe and the social media platforms quickly.
From Mastodon to Jack Dorsey’s BlueSky, these platforms are advocates of decentralized principles and utilize their potential for user's safety, privacy, and freedom of speech, which are generally censored in traditional social media.
