DeSo Code Review
TM Rating – 84%
Review Date: October 30th, 2021
DeSo, short for “decentralized social,” is a blockchain custom-built from the ground up to power a new category of decentralized social applications. At launch, the DeSo blockchain supports not only traditional social features like creating proﬁles and posts, but also novel blockchain-native features like social tokens, tipping, and NFTs. These features alone enable vast new categories of money-enabled products, from social NFT experiences to inﬂuencer stock markets.
These products in turn can allow creators to earn more money on DeSo-enabled apps than on traditional social networks, while maintaining a more direct relationship with their followers. Moreover, creators aren’t locked-in to a handful of centralized apps with DeSo because the business model of DeSo revolves around transactions ﬂowing through a decentralized network of potentially thousands of third-party apps, similar to how Ethereum works today for DeFi applications. This more decentralized business model could come to replace the traditional ads-driven business model for social media, which inherently requires concentrating users into a few highly centralized apps in order to maximize proﬁt.
Formerly known as BitCloud, the project went a few months ago through a rebranding, allowing it to separate the app (BitClout) from the blockchain (DeSo). While BitClout.com was initially a mere proof of concept, DeSo is positioned to be the de-facto blockchain for anyone building decentralized social media. Teams can now build decentralized social app like Instagrams, Snapchats, Substacks, or entirely new applications using DeSo, developing the web3 ecosystem. Over 100 apps are already building on the DeSo blockchain, which is a great developer traction for the stage the project is currently at.
These applications include Pulse, backed by Social Capital, and Flick, created by Nigel Eccles, co-founder and former CEO of Unicorn betting app FanDuel. If Blockchain keeps on going with its adoption more widely, DeSo is deﬁnitely well positioned to be the main host of any social related dApp. The token is trading on both centralized (Blockchain.com) and decentralized (Ascendex) exchanges.
|seed investment price||~ $0.50|
|current market cap||$821M|
|projects in the ecosystem|