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A novel Web3 social platform referred to as Diamond is launching on DeSo, a new blockchain that has raised $200 million from Coinbase, Sequoia and Andreessen Horowitz.

– Diamond is the first product ever to enable all posts, profiles, social graphs and content material to be hosted on a decentralized censorship-resistant blockchain.

– Posts on Diamond can be minted as NFTs, earn crypto tips and offer different novel features.

At present, content is hosted on centralized platforms like Twitter, TikTok or Instagram. Many thought leaders like Elon Musk and even Twitter founder Jack Dorsey have called for an alternative.

Not too long ago, messages emerged between the 2 billionaire entrepreneurs concerning a blockchain-primarily based social media platform.

“I have an idea for a blockchain social media system that does each payments and brief text messages/hyperlinks like Twitter,” said Musk in one text exchange.

He continued, “Third piece is a twitter-like app on your telephone that accesses the database in the cloud. This could be massive.”

Nevertheless, Musk may not have to create a decentralized Twitter different thanks to the launch of Diamond, a Web3 social app powered by the DeSo blockchain.

Diamond is the primary platform ever to host its content and social graph on a decentralized blockchain.

By publishing content material to the DeSo chain, writers and creators can personal and management their content the same method they own and control their Bitcoin (BTC). This means they are often free from censorship and copywriter gain new methods to monetize which have by no means been potential earlier than.

For example, posts on Diamond may be minted as nonfungible tokens (NFTs), can earn crypto ideas and rather more. Creators on Diamond can very easily launch social tokens that permit their followers to take a position in their success – all with an onboarding that is as straightforward as creating an account on a Web2 platform like Instagram.

Diamond’s choice to make use of the DeSo blockchain for hosting all of its content material showcases DeSo’s unique strength in content storage. “Existing blockchains cannot store content efficiently,” said Nader Al-Naji, founder of DeSo. “It costs about $50 to retailer a 200-character Tweet on Ethereum and about $0.15 to store it on Solana, Avalanche or Polygon. In contrast, DeSo is one ten-thousandth of a cent, making it the primary blockchain capable of disrupting storage-heavy functions like social, blogging and even marketplaces,” he mentioned.

In addition, Diamond’s integration of the DeSo wallet makes it attainable to onboard Ethereum

users in addition to mainstream customers. “The DeSo wallet supports both a one-click on Google log-in and a one-click MetaMask log-in,” mentioned Al-Naji. “It’s not our goal to be tied to a single chain, or really any chain. We just want to allow folks to connect with each other it doesn’t matter what ecosystem they’re part of. DeSo is the unified social layer for all of Web3,” he stated.

That is the most recent in a current string of successes for DeSo. The platform was listed on Coinbase earlier this year and announced a groundbreaking MetaMask integration final week that has triggered a major worth surge. It has also been experiencing a latest surge in person numbers.

In a world the place many are dissatisfied with conventional social media, Diamond and DeSo supply a decentralized solution that can lastly compete with Web2 juggernauts. “DeSo is the primary and solely blockchain that permits developers to construct social apps the place you can’t even inform you’re on a blockchain,” said Al-Naji. “That means, for the primary time, we’ve a shot at lastly increasing Web3 from disrupting finance to disrupting the trillion-dollar social media business.”

In regards to the DeSo Basis

DeSo is a brand new layer-1 blockchain built from the ground up to decentralize social media and scale storage-heavy applications to billions of customers. It raised $200 million and is backed by Sequoia, Andreessen Horowitz, Coinbase Ventures, Social Capital, Polychain Capital, Winkelvoss Capital, Pantera and others.