The Decentralized Social Network (DESO) intends to expand its new USDC stablecoin strategy. DESO’s blockchain doesn’t want to introduce stablecoins in the name of giant crypto networks such as Ethereum and Solana. In addition to that, it wants to introduce “DESODollars” for users to connect the stablecoins that are based on Ethereum. DESO intends to give equal treatment to other USDC-based chains.
DESO created history by standing in the highest position and holding a stronger long-term technical score of 99% than other digital currencies. For a long time, this rendered users neutral towards DESO. Currently, Decentralized Social is trading at a market capitalization of $173,298,709.94. The changes in price movement show that investors are on the neutral side of DESO. It was a new layer 1 blockchain that was created to decentralize social media.
From DESO’s official tweets, it stated that if any investor participates in the DESO network, they will get the DESO identity that helps the users to login into any app that was created within the platform. It allows users to move their profile, content, funds, and followers around DESO. It gives ownership over creator NFTs, social graphs, and coins in between the applications. DESO is also trying to remove the control of Web2 on creators.
The Major Issues Users Have With Web2
- They collect the users’ data.
- And they monetize the collected data.
- They are trying to keep the users on their sites for as long as possible.
“For too long, Web2 social media sites have controlled our entire online process. Taking back control of users’ social graph and content is essential to freeing users from various tech giants.”
The founder of the DESO blockchain, Nader Al-Naji, said that “It is not our aim to be tied to a single chain.”
The Influence Of DESO On Blockchain
- It is 100% open source.
- There are no certain gas fees.
- It also provides a social graph and content.
- The users will get a DESO identity.
The new strategy of DESO is to put forward the theme of decentralized social media for the users just like the crypto giants Bitcoin and Ethereum are decentralizing the financial world by using their strategies. DESO is also experimenting with introducing blog posts on wordpress as a part of the content strategy.
Source: https://www.thecoinrepublic.com/2022/10/10/deso-intends-to-expand-its-new-strategy-a-new-approach-towards-stablecoins/