Decentralized Social Networks: The Future Unveiled 🚀
Exploring the future of decentralized social networks, Mask Network Founder Suji Yan and Lens Protocol’s Founder Stani Kulechov engaged in a thought-provoking fireside chat at ETHCC. Dive into the key highlights of their discussion on the evolution of Web3 social networks.
Unveiling the Maturity of Decentralized Social Networks
At the Web3 Social Day during ETHCC, Suji Yan and Stani Kulechov rated the maturity of decentralized social networks. Stani humorously rated it a “1”, showcasing the sector’s nascent stage and emphasizing the infancy of protocols and infrastructure, despite significant progress.
- Stani Kulechov humorously rates the maturity of decentralized social networks at “1”
- Emphasis on the early stages of protocols and infrastructure
Drawing Parallels with Decentralized Finance (DeFi)
Stani drew parallels between the early days of DeFi and the current state of Web3 social networks. He highlighted the initial limitations of DeFi, showcasing how innovation fueled progress, similar to the evolution expected in Web3 social networks.
- Comparison between the early phases of DeFi and Web3 social networks
- Noting the progress fueled by innovation in decentralized environments
Web3 Social: A Focus on Social Capital
Stani acknowledged the complexity of Web3 social networks, particularly the emphasis on social capital preservation and expansion. With the rise of Layer-2 solutions in the Bitcoin ecosystem and projects like Cluster integrating with NextID Web3.bio, the landscape is evolving rapidly.
- Challenges surrounding social capital in Web3 networks
- Rise of Layer-2 solutions in the Bitcoin ecosystem
Exploring Federated vs. On-Chain Models
Stani highlighted the importance of application layers in onboarding users to Web3 social networks. He discussed the benefits of both federated and on-chain models, emphasizing security in social transactions and the crucial role of blockchain technology in verification.
- Significance of application layers for user onboarding
- Benefits of federated and on-chain models in Web3 social networks
Future Horizons in Decentralized Social Networks
Anticipating mass adoption driven by user experience, Suji and Stani envision a future where social capital can monetize tangible assets in the “cyberverse.” The convergence of the financial aspects of Web3 and the social attention economy will shape the future landscape of decentralized social networks.
- Focus on user experience for mass adoption
- Envisioning the monetization of social capital in the digital space
Hot Take: Embracing the Evolution of Web3 Social Networks 🔥
Embark on the journey of decentralization in social networks, where innovation and user-centric experiences pave the way for a transformative digital landscape. Stay tuned for the exciting developments that will shape the future of decentralized social interactions!
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