Decentralized Social (DESO)
Rank #882
Market snapshot
- Price
- $1.16
- Market cap
- $10.3M
- 24h volume
- $1,157.60
- Circulating supply
- 8,884,536
- Total supply
- 10,808,492
- Max supply
- 10,808,492
What is Decentralized Social?
Decentralized Social (DESO) is a cryptocurrency that aims to decentralize social media. It operates on a layer-1 blockchain built specifically for scaling storage-heavy applications, enabling the management of large volumes of data generated by social interactions.
How Decentralized Social works
DeSo operates as a layer-1 blockchain, designed to support social media applications that generate amounts of data. It allows users to create a single profile that can be used across different applications, maintaining their identity and social graph. The blockchain supports infinite-state applications, meaning that every transaction generates new data that must be stored and indexed. This infrastructure enables developers to build applications with features like NFTs, DAOs, and encrypted messaging.
Key information
- Symbol
- DESO
- CMC rank
- #882
- Network / platforms
- N/A
- Categories
- N/A
- Date added
- Jun 15, 2021
Key characteristics
DeSo is the first blockchain specifically built to decentralize social media and scale applications for billions of users. It allows for the ownership of content similar to Bitcoin, enabling users to interact with the blockchain using familiar programming languages such as JavaScript and Python. Additionally, anyone can run a DeSo node, allowing for real-time updates and data access without permission, supporting the decentralization of social media.
Official resources
Risks
Digital asset prices can be volatile and can change materially. Users should verify the contract address and network before transferring assets. Self-custody requires secure private-key and recovery-phrase handling. Centralized platforms can involve operational, custody, and counterparty risk. Availability and regulatory treatment can vary by jurisdiction. Transaction finality and reversibility can differ by network.
Transfer and custody notes
Verify the asset name, network, and the destination details before transferring. Verify destination address and network before sending assets. Review the custody method, including self-custody versus a third-party platform. Understand that transfers may be irreversible and that CoinLoom does not confirm exchange availability.
FAQ
- What is Decentralized Social (DESO)?
- Decentralized Social (DESO) is a cryptocurrency designed to decentralize social media and improve user engagement across various applications.
- How does the Decentralized Social blockchain operate?
- The Decentralized Social blockchain operates as a layer-1 blockchain, enabling the management of large amounts of data generated by social interactions and allowing users to maintain their identity across different applications.
- What are the key technical features of Decentralized Social?
- Decentralized Social is built to support infinite-state applications, allowing for the storage of new data with each transaction. It also enables the use of familiar programming languages for development.
- What are the risks associated with transferring Decentralized Social (DESO)?
- Users should be aware of the volatility in digital asset prices, verify asset and network before transferring, and understand the implications of self-custody.
- Where can I find official resources for Decentralized Social?
- Official resources for Decentralized Social can be found on their website at https://www.deso.com and their GitHub page at https://github.com/deso-protocol.
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