Is Decentralized Social A Good Investment In 2022?

tl;drBitClout is the latest kind of social network that merges social media and speculation; Also, it is built from the ground up as its system blockchain. Its architecture is similar to Bitcoin; only it can support complex social network data like posts, profile follows, speculation features, and much more at a significantly larger scale and throughput. There is no company behind BitClout; Like Bitcoin, It is a fully open-source project! It is just coins and code. The Decentralized Social price today is $76.10 with a 24-hour trading volume of $122,171. DESO price is up 0.4% in the last 24 hours. It has a circulating supply of 11 Million DESO coins and a total supply of 10.8 Million. At the time of writing this post (November 1, 2021), DESO 's Return On Investment (ROI) over the past year was 1,994%, underperformed in the 'Cryptocurrency' category which had 1994% growth over the past year. It underperformed in the crypto market which had 36816% growth over the past year. Another critical factor in the success of any project is gaining public attention. Our data shows that DESO's Twitter account saw a growth of 8% over the last months in the number of followers. Over the last five months, DESO 's Market Capitalization rank followed an overall declining trend, starting at the rank of 91 on Sep 22, 2021, reaching 85 on Oct 1, 2021. However, by the time of writing this post, DESO 's market cap rank is about 136, and its value is $803,586,812 Million. Moreover, its liquidity score is 22% below the market's average score, which means that you might face some difficulties selling DESO in bear markets.
Is Decentralized Social A Good Investment  In 2022?
Is Decentralized Social A Good Investment In 2022?
How do you rate this post?
Good
Average

Introduction

BitClout is the latest kind of social network that merges social media and speculation; Also, it is built from the ground up as its system blockchain. Its architecture is similar to Bitcoin; only it can support complex social network data like posts, profile follows, speculation features, and much more at a significantly larger scale and throughput. There is no company behind BitClout; Like Bitcoin, It is a fully open-source project! It is just coins and code.

A new kind of social network. If you have used BitClout, you know it is like Twitter but with a new kind of monetization tool for creators called "creator coins." With BitClout, every creator gets a coin that anyone on the platform can buy and sell, which unlocks many innovative ways for creators to monetize and create deeper relationships with their followers. Creator coins are only a new kind of blockchain, though beginning, and you can learn more about the product side of BitClout here.

We decided to build BitClout from the ground up as its custom blockchain. It has an architecture similar to Bitcoin but re-imagined to support a social network. BitClout is not a company; it does not have a board, and there is no CEO-- it is just code that runs on nodes across the internet just like Bitcoin. Every profile, post, follow, etc., is stored on a public blockchain that everyone in the world has access to, making it an open platform that has the potential to solve the problems that social media has today.

How does DeSo work?

The DeSo blockchain supports standard social media features like creating profiles and posts and blockchain-native features like tipping, NFTs, and social tokens. These features can allow creators to earn money.

Al-Naji said, "everyone wants to use the apps built, or DeSo blockchain has to hold the native cryptocurrency of the blockchain (the DESO token). "$DESO can be used to create a post, create a profile, buy social tokens, buy NFTs, give' diamonds. Also, Al-Naji said, "So overall, To increase the demand for $DESO the coin, The purpose is to handle as much task on the DeSo blockchain as possible."

According to Al-Naji, ", The more open the DeSo blockchain (similar to Ethereum) and there are more apps are built on top of it by independent developers, the more transactions flow through the blockchain, and the more valuable $DESO becomes."

The DESO token was previously named CLOUT (BitClout), he said. Momentarily launch of the DeSo blockchain, the blockchain and token have been renamed. Al-Naji said, "We created BitClout as an early prototype to allow us to iterate on the DeSo blockchain and test before launching it publicly."

 Also, Al-Naji said, "The $200 million funding round was secured via selling the DESO token". Also said, "The investors deposited bitcoin into a treasury wallet to receive DESO." Over 44,000 users acquired DESO between November and July 11. When the purchase device was turned off, The number of DESO became fixed forever at 10.8 million units.

DESO has launched on AscendEX and crypto exchanges Blockchain.com for conversion to and trading of USD. Al-Naji is launching a non-profit entity (DeSo Foundation), with fresh capital at hand that to grow the adoption of a decentralized social ecosystem, will be using the funds. Al-Naji said, "There is a strategy to support everybody from developers to NFT artists, to their social tokens and smaller creators, and we are very excited to announce more details on all of those plans very soon."

Also said that "over 100 apps are built or being built on the DeSo blockchain. These include Twitter-like social media platform BitClout, social tokens exchange BitCloutPulse, NFT marketplace Polygram.cc, and Clubhouse-like Clubrooms." According to Al-Naji, "DeSo-powered apps are based on money-native features, and these features are proving to be more effective from a monetization aspect rather than ads."

Financial Analysis

The Decentralized Social price today is $76.10 with a 24-hour trading volume of $122,171. DESO price is up 0.4% in the last 24 hours. It has a circulating supply of 11 Million DESO coins and a total supply of 10.8 Million. At the time of writing this post (November 1, 2021), DESO 's Return On Investment (ROI) over the past year was 1,994%, underperformed in the 'Cryptocurrency' category which had 1994% growth over the past year. Decentralized Social underperformed in the crypto market which had 36816% growth over the past year.

Another critical factor in the success of any project is gaining public attention. Our data shows that DESO's Twitter account saw a growth of 8% over the last months in the number of followers.

Over the last five months, DESO 's Market Capitalization rank followed an overall declining trend, starting at the rank of 91 on Sep 22, 2021, reaching 85 on Oct 1, 2021. However, by the time of writing this post, DESO 's market cap rank is about 136, and its value is $803,586,812 Million. Moreover, its liquidity score is 22% below the market's average score, which means that you might face some difficulties selling DESO in bear markets.

You are saying that Decentralized Social (DESO) is the best cryptocurrency to invest in?

We are here to help you make smarter financial decisions by freeing up your intelligence through making it easy to compare thousands of coins. We do all the hard work for you and help you remove emotions from your decisions. However, making an investment decision requires considering your own financial situation and comparing your investment options.

To see our reports and easily compare the available investment options, check out our website.

How do you rate this post?
Good
Average

Any advice contained in this website is general advice only and has been prepared without considering your objectives, financial situation, or needs. You should not rely on any advice and/or information contained in this website and before making any investment decision we recommend that you consider whether it is appropriate for your situation and seek appropriate financial, taxation, and legal advice.

© 2022 - Created by Cryptologi.st