Jessie A Ellis
Sep 18, 2024 02:43
A recap of the ETHCC Web3 Social Day panel discussing decentralized social networks and Web3, that includes insights from consultants on Nostr, Ethereum, and extra.
The ETHCC Web3 Social Day not too long ago hosted a panel that includes outstanding figures within the decentralized social community house. The dialogue, moderated by Suji Yan of Masks Community, delved into the contrasting approaches and future prospects of decentralized social networks versus Web3 social platforms.
Panel Highlights
The panel featured a various group of consultants, together with Fiatjaf, the protocol writer of Nostr, Wouter Fixed, a Nostr researcher, Limone.eth, the founding father of ETHRome, Eric from Codex, and Shane Gaffney, the neighborhood lead at sending.me.
The dialog started with Suji Yan highlighting the completely different philosophies of the panelists. Whereas some favor full decentralization, others, like Sending.me, have raised important enterprise capital to help their initiatives. Suji famous that Bitcoin, now 16 years previous, continues to affect new platforms like Nostr, reminding the neighborhood of the continuing want for innovation and dialogue.
Understanding Nostr
Wouter Fixed offered an summary of Nostr, explaining its reliance on uneven cryptography, standardized information codecs, and a easy communication protocol. In keeping with Fixed, these components kind the inspiration for a brand new, decentralized net. Nostr began as a microblogging platform akin to Twitter however has since developed right into a extra complete system able to transmitting varied sorts of information.
Decentralization vs. Web3
Suji Yan posed a query in regards to the variations between the varied initiatives represented on the panel. Eric from Codex emphasised the significance of censorship-resistant information storage, a essential facet of true decentralization. Limone.eth, who works with Farcaster, mentioned the completely different approaches throughout the Web3 social media house, noting that these protocols goal to deal with the shortcomings of centralized social networks.
Shane Gaffney from sending.me shared insights into the motivations behind the platform, which integrates socializing, non-public messaging, buying and selling, and token-gated communities. Gaffney defined that the founder’s expertise with the centralized Dolphin Browser fueled a want to create a platform free from centralized management.
Revenue vs. Goal
The panel additionally touched on the subject of funding and revenue. Suji Yan questioned the panelists in regards to the sustainability of their initiatives with out enterprise capital backing. Wouter Fixed highlighted Nostr’s natural development and help from Jack Dorsey’s OpenSats Basis, emphasizing the deal with constructing public infrastructure with out the quick stress to monetize.
Core Challenges and Options
Eric from Codex mentioned the continuing challenges of decentralized, censorship-resistant information storage. He identified that whereas some facets of the present web tackle these points, true decentralization requires extra sturdy options. The dialog additionally touched on the function of governments and personal firms in information censorship, with Gaffney stressing the necessity for people to manage their information.
Future Prospects
The panel concluded with a dialogue on the present state and future prospects of decentralized social networks. Whereas the consensus was that the business continues to be in its infancy, the panelists expressed optimism in regards to the potential for development and innovation within the coming years.
The ETHCC Web3 Social Day panel offered priceless insights into the evolving panorama of decentralized social networks and Web3, highlighting each the challenges and alternatives that lie forward.
Picture supply: Shutterstock
