After the alleged Facebook scandal – Cambridge Analytica, people are increasingly worried about the malicious use of their personal data. This reflection has led many to have doubts about being active in social networks, and the search for alternative social networks (and ‘Delete Facebook’) has skyrocketed. The search has proven to be a boost for existing decentralized social networks, which claim to be fundamentally safer than Facebook and Twitter. At the same time, dedicated decentralized messaging services have also benefited.
Therefore, such revelations have gathered special attention towards initiatives which offer blockchain-based decentralized messenger. Blockchain Based messaging app can use peer-to-peer (P2P) protocols based on the blockchain for instant text messaging.
The biggest advantage of blockchain based decentralized messaging services is that they can even utilize other benefits of redundancy, like backups. If the chat history on a given device (or node to be a little more technical) is deleted, it can be reconstructed using the neighboring peer’s chat histories involving that node.
However, it should be noted that this benefit isn’t exclusive to decentralized messaging services – even WhatsApp, that is based on more of a client-server architecture (i.e., centralized), can use a similar technique to offer chat reconstruction to its users. But blockchain based decentralized messaging services has more to offer than just replicate the functionality of popular message services, with a different implementation. Most people don’t care as much about the implementation as they do about the interface. The blockchain based decentralized messaging services should have quite engaging inferface which can attract users.
On top of that, there are numerous other functionalities that blockchain based messaging services can provide. There can be a multi-currency crypto wallet that can be used for easy money transfers. The wallet will work on its own and cannot be monitored.
One of the most important feature of blockchain based messaging services is that they are quite good for critical connectivity and cannot be “banned”, and so it can theoretically work all over the world. This is simply because blockchain based messaging services will be decentralized, so there isn’t really a “switch” that can shut down these networks entirely in a region.
Other features that blockchain based messaging services can provide are photo and video streaming, news feed streaming, QR scans – all through a blockchain based network.
There are my blockchain companies which are working on making a whole decentralized social media with safe and secure messaging service and also other social media services like photo and video streaming, news feed streaming. A core feature of many blockchain social networks is that they are “Cryptolike”. People can tip content creators with money, and in this way content creators can monetize their creations. They no longer need sponsors or advertisements for generating value out of their content.
So, will blockchain based social networks be the next big thing? The chances of that happening soon are slim because the social networking market is under tough competition these days, which is evident from consistent online promotions of social networking startups. Blockchain based social networks will take years to get to the size where it can be weighed against Facebook.