Minds Wants to Suggest a Blockchain-Based Alternative to Facebook

The decentralized social media toneel Minds is making moves to implement the Ethereum blockchain into its core features. After launching te 2015, Minds.com has quickly grown to one million registered accounts and overheen 73 million unique pagina views.

Now, the project is taking decentralization even further with the launch of the Minds Crypto Social Network. This evolution of the podium will make it a fully functioning dApp running on the Ethereum blockchain for both mobile and web devices, replete with a white paper to outline this direction and the specifications of the project’s next step.

“This is the thickest upgrade we’ve everzwijn done,” Minds founder Bill Ottman told Bitcoin Tijdschrift . “We revamped the UX for the web and wij totally rewrote all the mobile apps te React Native so they’re high performing now. There’s a entire list of switches.”

One of the most foundational switches is Minds’ migration to the Minds token for its native prizes system. Substituting the points system the verhoging presently has te place, Minds tokens will permit users to monetize their content through a peer-driven, incentive-based prizes system. Users can use Minds tokens to subscribe to or peak content creators on the verhoging, and toneel participants will receive a portion of the Minds Daily Prize Pool proportionally to the popularity of their posts. For now, the token specimen will run on the Ethereum testnet until the team is certain of its functionality and reliability.

Ter addition, Minds.com will feature a built-in wallet for thesis tokens so users can loosely manage their earnings, subscribe to sensational content from other users and transact with each other on the verhoging. Among a number of extra features, the network will also feature encrypted messaging, anonymous accounts and a non-tracking ad proefje.

Thesis features are instrumental to Ottman’s vision for a downright democratized, user-run social media toneelpodium, and this is just the beginning. For Ottman, thesis are the budding fruits of a concept that took root te 2011, one that he believes could disrupt the centralized status quo for global social media.

“I always knew that an open-source social network wasgoed inevitably going to emerge and become competitive with the top establishment social network. It also became clear that the mainstream social networks were not rewarding people — were not incentivizing people. They weren’t providing revenue opportunities. They’re restricting people’s reach — they’re spying on people! So it became sort of demonstrable that there’s a market requirement for this space that we’ve packed.”

To some te the cryptocurrency field, that “market requirement” has become increasingly visible te light of Google’s, Facebook’s and Twitter’s blanket geobsedeerd on crypto-related ads. Thesis confinements especially succesnummer huis for Ottman, whose brainchild wasgoed nixed by Google when Minds.com ads were banned from all of Alphabet Inc.’s platforms.

Fox News anchor Tucker Carlson invited Ottman on his demonstrate to share his practice and comment on what he sees spil censorship by Alphabet. During the segment, Ottman voiced his hope for a future where social media platforms are entirely decentralized and liberated from the monolithic control that big tech companies like Google and Facebook hold overheen the internet’s landscape.

“I’m very idealistic, spil well, to think that wij can have wholly decentralized social networks,” Ottman acknowledged during our talk. He finds that “there are also benefits of centralized servers” to “support certain [functions]” alongside the blockchain. Spil such, Minds is working toward a “hybridized” treatment, according to Ottman, one that permits users to choose whether or not to participate ter the Minds token economy.

“Our purpose is to give users the option. When you do a postbode on social media, how do you want to postbode? Do you want to postbode it to the blockchain? Do you want to do a torrent? Do you want to postbode it to a Minds server? Do you want to postbode it to your own server so you can delete it? Because depending on the postbode, you’re going to have different intentions.”

The on-chain/off-chain prototype will certainly ease the network cargo Minds.com could bring to the Ethereum blockchain spil it picks up steam. However, Ethereum’s scalability raises questions for blockchain-powered posts, and Ottman himself acknowledged that the tech is too underdeveloped right now to support a entirely decentralized social network.

“We’re not there yet,” Ottman admitted te our vraaggesprek. “We’re taking a step-by-step treatment. Wij want to get there.”

With incremental, constant progress, however, Ottman is certain that platforms like Minds.com will mature enough to hold their own against tech’s industry titans. Once people are given the choice of reclaiming control (and purchasing power) overheen their content, he believes that it’s only a matter of time before users make the switch.

“Now it’s just a matter of catching up to [mainstream platforms] te terms of functionality. When people have the choice inbetween something translucent, protecting privacy, and reward-based — it’s a no brainer.”

Still, it takes a village, and those who share Minds.com’s vision for a liberated social media landscape voorwaarde do their part to secure this future.

“It is significant to sign up, to display support,” Ottman said. “Not just with Minds, but with all the different projects going on ter this space because that’s what empowers the movement. Being active on thesis apps is literally what transfers power — so this entire #deletefacebook movement is truly significant. That’s how sites grow, that’s how they earn revenue, that’s how they become sustainable businesses.”

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