In general, Blockchain technology has brought a new meaning to how we use the internet, especially social media through decentralization. The fast-growing Cardano Blockchain has attracted its fair share of developers who are looking to build various social platforms that allow you and me to interact in a more decentralized and permissionless manner. These platforms, together form the vibrant Cardano Social Media Ecosystem.
In this article, we will take you through everything you need to know about the Cardano Social Media Ecosystem. Additionally, we have highlighted a few notable projects that are turning heads within the ecosystem.
Cardano Social Media Ecosystem
The Cardano Blockchain has been at the forefront of embracing the new decentralization culture across various components of the blockchain. Social dApps on Cardano have continued to steadily grow and more so since Cardano implemented the use of smart contracts back in September 2021.
While Cardano is still challenged by Ethereum- as the number of dApps on Ethereum (social or otherwise), the Cardano Social Media ecosystem has demonstrated continuous improvement and an increase in the number of active users. This can be attributed to the peer-review and research approach, that Cardano developers use to ensure that they create functional and practical Decentralized Applications.
The ADA social media ecosystem is a critical component of the Cardano chain that is yet to meet its potential and therefore is very ripe (as is Cardano) for innovative projects. Given that the social media space is creeping slowly but surely to a decentralized and uncensored future, it is with no doubt that more social projects will emerge on Cardano.
Key Players in the Cardano Social Media Ecosystem
Stakeboard is a social staking marketplace that works to provide Stake Pool Operators (SPOs) and delegators the tools and incentives to support their growing number and growth of the overall Cardano chain.
The platform hopes to achieve an improved staking experience by making delegating easier and more rewarding, encouraging decentralization by enhancing transparency between SPOs and delegators, and providing adequate opportunities for both SPOs and delegators. This will ensure a smooth relationship and consensus between stake pool operators and delegators.
Stakeboard incorporates an interesting feature known as “Detective Alice”. Alice is a bot designed to protect the Stakeboard users from malicious and fraudulent parties who seek to defraud users in one way or the other while staking on various pools.
Additionally, the platform allows stake pool operators to verify their staking pools in a very straightforward and streamlined process, therefore minimizing or even eradicating potential scams in the sector. Together with providing the SPOs and delegators a platform for efficient communication, Stakeboard looks to revolutionize and streamline Cardano’s Defi space.
SoMee is an uncensored and free speech social media platform where users have full control over their content, have full control over who sees their content and information, and can directly earn by interacting with others on the platform. Simply put, SoMee redefines how we use social media by prioritizing privacy, control, and monetization of content.
SoMee is interoperable with other networks and thus supports cross-posting across various networks, therefore, diversifying your interaction and earning opportunities’. Additionally, the platform contains an in-built wallet; the SoMee wallet, which through blockchain technology is holds all your earnings from SoMee. SoMee users receive daily payments for content and curation (upvoting) rewards directly inside of their SoMee wallet.
The wallet allows users to control their private keys, while at the same time allowing them to swap between various tokens in an in-built token exchange with over 100 ERC-20 tokens. To ensure the security of both the platform and the wallet, SoMee utilizes two-factor authentication.
SoMee, which was launched in early Q4 2021, is live with its Beta version and has successfully launched its Android and IOS mobile applications.
Profila is a surveillance-free-data-exchange, engagement, and marketing platform empowering people to take control of their personal data and earn from allowing others to use it. It could also be referred to as a data engagement platform between people and brands as it provides a suite of tools that helps people manage their personal data and choose what to share with various brands.
These tools are essential for representing a user’s accurate data on the users’ “Profila”, here the user can manage their information, interests, and preferences through a mobile application. The user can then control access to the data by brands as well as hold brands accountable for how they use the users’ data. This serves as a benefit to both parties as they receive highly personalized data and content, hence allowing for optimal monetization.
The platform also serves a critical role to investors, either to the people or the brand, as they can directly access the relationship between people and brands, especially from feedback. This together with their native token “Zero Knowledge Token” ($ZYT), which is earned through personal data management makes Profila a complete and healthy ecosystem with numerous benefits to all parties involved.
The Cardano Social Media Ecosystem is extensive and continues to grow as the general number of Cardano users and dApps increases with time. Apart from the above-mentioned key players, we have other social platforms like GoKey, BrandSensed, SoMee, and ActivADA that have shown significant progress and vision for the ecosystem.
The Cardano Social Media Ecosystem demonstrated significant and impressive growth, especially during the 4th quarter of 2021, where several outfits were launched onto the Ecosystem. As Cardano creeps towards mainstream adoption, the ecosystem could only thrive with the expectation of more dApps in the space as the blockchain is scalable, sustainable, and interoperable with other protocols.
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