Decentralized Social (DESO), has surged 236% And Outpaced The Crypto Market

October 3, 2022

Darko Simunovski content is written in English. Translations into other languages are automated and there may be minor text errors.

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Altcoin that’s focused on social media is surging this week, after the announcement of a new partnership with the popular crypto wallet MetaMask. Decentralized social media platform rallied to a weekly high of over $16 today, marking a 236% increase from its seven-day low of $6.83 per DeSo token.

DESO has outperformed the other crypto assets in the top 300 market cap ranking. The blockchain project, Layer-1 aims to redefine the nature of social media applications by addressing scalability limitations and protecting users and content creators from central authorities.

 According to the press release from the project, the founder Nader Al-Naji said:

“Decentralized Social’s new integration with MetaMask paves the way for DeSo to become the cross-chain social layer for all Web 3.0,” 

“Existing blockchains cannot store content efficiently. It costs about $50 to store a 200-character Tweet on Ethereum and about fifteen cents to store it on Solana, Avalanche or Polygon. In contrast, DeSo is one ten-thousandth of a cent, making it the first blockchain capable of disrupting storage-heavy applications like social.”

The decentralized social platform so far has been operated in the Ethereum (ETH) ecosystem, but it also plans to expand to Solana (SOL).

About DeSo

DeSo is the first layer-1 blockchain custom-built to decentralize and scale social applications to billions of users and every data that is posted on the DeSo network is stored on-chain and is owned by the users.

The DeSo blockchain supports not only traditional social features like creating profiles and posts with blockchain-native social tokens (creator coins)DeSo token. These features unlock vast new categories of money-enabled products, from social NFT experiences to influencer, which enables creators to effectively monetize their content and connect with their followers on DeSo-powered apps. All content on DeSo is stored on a decentralized ledger and is immediately available to a large and growing network of independent third-party apps.

DeSo’s biggest advantage lies in the fact that DeSo blockchain can reach highly-scalable storage capabilities that are unparalleled by any general-purpose blockchain. For instance, the cost of 1 GB of on-chain storage on DeSo is as low as 1 DeSo and it can reach hundreds of thousands transactions per second.

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