The landscape of social media has changed dramatically over the last several years, making it more difficult to stay updated. It is reasonable that many users are first wary about decentralized social media sites. After all, many social media users are unlikely to trust conventional social media sites that lack a clear owner, given that we are still in the midst of a tremendous centralization age. Additionally, it might be difficult to envision a new sort of social media network since there is now no mechanism for any user to safeguard coins or earnings on popular sites.

The future of social networking sites will not be determined by these established social media platforms. The kind of revolutionary social media platform that is expected to emerge in the future will be based on a decentralized model; it will use blockchain and open-source technologies to increase the platform’s democratic nature and allow users complete control of their accounts and revenues. Users are supposed to have direct access to the decentralized platform’s algorithms in this picture of the future of social media. Without a central authority defining engagement and monetization standards.

What is Decentralisation?

Decentralization implies that the Internet is controlled by a large number of people. It’s a network of millions of devices connected openly. Decentralization refers to the process through which power and decision-making are transferred from a centralized entity (person or corporation) to a dispersed network in the context of blockchain. Decentralized networks seek to lower the amount of confidence required of users and dissuade them from exercising power or control over one another in ways that undermine the network’s performance.

The notion of decentralization is not new. When developing a technological solution, the following three network designs are often considered: centralized, distributed, and decentralized. While blockchain technologies frequently make use of decentralized networks, a blockchain application cannot be classified only on the basis of its decentralized or centralized nature. Rather than that, decentralization should be implemented on a scale that ranges to all components of a blockchain program. By decentralizing the administration and access to resources inside an application, it is possible to provide a higher level of service and fairness. 

Future of Social Media 

The Metaverse

Both technology and non-technology businesses may benefit from the many new opportunities presented by the metaverse. The metaverse is currently regarded as a minor product in contrast to social media and other large products. Despite this, fresh, influencer-focused opportunities may still be found in the digital realm. 

Metaverse economics may be created by using the notion of the smart contract in NFTs, which is a blockchain programming that enables the network to retain NFT transactions that can be used later. Initially, NFT-based access may be used to get full access to the metaverse, including VIP access and other privileges. A business might use a SaaS model to offer its followers, access to branded items or exclusive access to information. NFTs will next use location-based features, interaction, and augmented reality to provide interoperability beyond the metaverse.

The usage of technologies such as augmented reality (AR) and virtual reality (VR) in social media will increase in the next few years (VR). Users will seek better and more engaging experiences as these platforms expand in popularity and these technologies have the potential to provide just that.

While the popularity of virtual reality (VR) on social media is still in its early stages, the same cannot be said for augmented reality (AR). Augmented reality filters are currently being employed on several major social media sites, including Snapchat and Instagram, among others. These were designed to improve the visual material that is posted on social media and has been quite popular since their introduction.

In augmented reality, digital components are added to our physical world, altering the way things seem to us. This improves our perception of reality. In recent years, social media sites have discovered new applications for this technology and have begun to leverage it to their advantage.

Social media uses of augmented reality are not confined to the use of picture filters to produce amusing posts and tales. As an additional benefit, brands may use augmented reality to give consumers more enjoyable shopping experiences. With the era of Metaverse coming in soon, AR and VR are the key components to making it a success.

Social Networking sites built on the Blockchain

Sapien

As an alternative to social news platforms like Facebook and Google, Sapien touts itself as a highly configurable, democratized social news platform that is based on the Ethereum blockchain.

onG is a blockchain-based community dashboard that facilitates the management of both centralized and decentralized social media networks, as well as the development of communities and social interaction via the use of cryptocurrency incentives. There are two blockchains used by the program: Waves platform and Ethereum.

Indorse

Indorse is a decentralized platform, similar to LinkedIn, that is built on the Ethereum blockchain. To verify talents straightforwardly and impartially, the platform employs a variety of mechanisms, including decentralized consensus, in which instances of skill are assessed anonymously by a random selection of other users. It also makes use of artificial intelligence-based solutions such as chatbots to provide automated validation in real-time.

When compared to typical social networking platforms, where users may make any claim about themselves that is generally considered true, endorse checks and validates the claim, and compensates users for supporting the skill sets of others.

Conclusion

The emergence of social media has altered our collective consciousness as a society. Generally speaking, it has been a beneficial development. We can now communicate with individuals all over the globe with a single click. On social media, we can remain in touch with everyone close to us, stay updated with the latest news and engage with companies on a much more intimate level than we could before. With the coming of the Metaverse and Web 3.0, Social Media is only going to offer more benefits for the future and improve.

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