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Web3 Industry Report

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Sufficient Decentralization for Social Networks

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Key takeaways:

A centralized social networks believe limiting choice is the path to healthy network → place more restrictions on users and developers

A decentralized social network has two essential advantage:

guarantee that users own a direct relationship with their audience
developers gain somewhat “equal” access to social network

Sufficient decentralization

if two users can find each other and communicate even if the rest of the network wants to prevent it
core elements of sufficient decentralization
the ability to claim a unique username
post messages under that name
read messages from any valid name
Requires the entire social network to be on a blockchain is unnecessary and even undesirable [ Social networks generate petabytes of data every year, which can be very expensive to store on-chain ... ]

Challenging problems that are slowing the adoption:

scaling network
centralized host but many of them to achieve decentralization
decentralizing the name registry
smart contract (eg. ENS)
building novel social primitives
Users don’t just want a decentralized version of an existing social network.
generate proofs of such activity
token-gated communities
verified badges
Successful social networks are usually built around a new communication primitive.
Facebook (Phone book in internet)
Twitter (140 character)
Snapchat (Ephemeral message)


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