Crypto projects in the space of Decentralised Social Networks (DeSoc) have seen substantial advancements recently, offering promising benefits such as censorship resistance, enhanced monetisation opportunities for creators, and greater user control. Censorship resistance is one of the strongest value propositions of DeSoc: it defines the ability of said platforms to prevent a single entity from arbitrarily controlling or removing content, which is a growing concern in traditional social networks.
Yet, despite their potential, DeSoc protocols have not achieved widespread adoption, a challenge that we believe may shift in 2024.
Leading DeSoc Projects
At the forefront of the DeSoc ecosystem are two dominant social graph protocols: Lens Protocol and Farcaster.
Social graph protocols serve as the foundational infrastructure for mapping relationships and interactions between users in a decentralized manner, enabling individuals to retain ownership of their data, while enabling interoperability. These protocols leverage blockchain technology or other decentralised architectures to create transparent, tamper-proof, and portable records of social connections, activities, and preferences. By doing so, they eliminate reliance on centralised intermediaries, giving users control over their online identities and how their data is accessed or shared.
Both Lens and Farcaster have cultivated thriving ecosystems of dapps, yet they differ in how developers build on them. This divergence often forces developers to commit to one protocol early on, limiting interoperability and user reach.
Tako Protocol: Bridging the Gap
Tako Protocol is an emerging force of DeSoc.
Tako is designed to help developers build apps that can work across different social networks rather than being limited to just one. It offers easy-to-use resources for developers such as SDKs and APIs to simplify the process of adding features like monetisation and improving the way apps function and interact with users.
By integrating with Tako, developers can bypass the limitations of building exclusively on one protocol, enabling a more flexible and interoperable approach to creating decentralised social platforms. Interoperability, in this context, means that applications can work seamlessly across different protocols, enhancing user accessibility and reach.
An example of Tako’s potential lies in Jamfrens, a protocol allowing creators to tokenise their social influence on both Lens and Farcaster. By tokenising influence, creators can assign value to their social interactions, which can then be traded or monetised.
Tako’s APIs drive monetisation by incentivising meaningful engagement, amplifying the network effects—a phenomenon where a service becomes more valuable as more people use it—that creators rely on to grow their communities.
Customisation and Expansion
Tako’s adaptable smart contracts make it suitable for various genres of social protocols, extending its applicability beyond Lens and Farcaster. This flexibility allows developers to tailor features to specific use cases. Upcoming integrations with platforms such as Deso Protocol promise to expand its target user base further, contributing toward a more unified and robust DeSoc ecosystem.
Challenges to Overcome
While DeSoc networks looks promising, several barriers remain:
- Interoperability. The fragmented nature of current protocols can hinder user adoption and limit dApp scalability. Tackling this issue will involve creating middleware solutions, such as Tako, that bridge the gaps between systems.
- Adoption Rates. Competing with established centralised platforms like Twitter and Facebook requires significant improvements in user experience and onboarding processes to attract non-technical users.
- Scalability. Ensuring the infrastructure can handle mass adoption without compromising decentralisation or performance is a critical hurdle. This will involve advancements in blockchain technology to reduce costs and improve efficiency.
The Path Forward for DeSoc
Despite these challenges, the momentum in the DeSoc space is undeniable. As the ecosystem matures, we anticipate greater adoption, interoperability, and creativity to pave the way for a decentralised internet where users truly own their data and social experiences.
We’re committed to supporting projects in the DeSoc space. If you’re building solutions to redefine how social networks operate, and is searching for suppport from a crypto venture capital fund, feel free to contact DWF Ventures directly.
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