The Benefits of a Web3 Social Media Platform
If you’re curious about blockchain-based social media platforms, you’ll be glad to know that numerous Web3 companies are actively working on solutions to drive their adoption and embrace. These platforms offer several advantages over traditional Web2 platforms, according to experts like Lintala.
One key advantage is that Web3 platforms are based on “user-controlled interoperable profiles.” This means that your data won’t be controlled by a few entities, and it won’t be used without your consent. With Web3 social media, you have more control over your personal information.
In the future, social media users will prioritize platforms that treat them as stakeholders and prioritize their privacy. Failing to align with these priorities may result in the loss of users and revenues for Web3 or Web2 social media platforms.
A Hot Take: Decentralized Reddit and Privacy
The CEO of Phaver, a platform that connects users to Web3 social networks, shared insights on the recent Reddit fiasco. He believes that a decentralized Reddit built on Web3 principles could have prevented such incidents. When data is posted on the blockchain, it becomes public by default. However, this also means that you have more control over who can access and unlock that information. While Web3 doesn’t automatically enhance your privacy, it holds apps accountable for handling your data carefully and respecting your privacy.
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