How the Bitcoin Model Can Solve the Social Media Dilemma

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Social media platforms are constantly criticized for their lack of full end-to-end encryption, existing privacy policies, and censorship, but a blockchain-based solution could end an era of centralized social media domination.

In many ways, social media is an essential part of everyday life for businesses and the average consumer. Today, these platforms connect people to the type of content they want based on their own inputs. This streamlined flow, served to users, leading them to the companies waiting to finish, should be the perfect scenario. However, when it comes to handing out the rewards, the results are often incredibly skewed.

Algorithms are constantly changing to create new sources of revenue for the platform while depriving users of their rights. Moreover, the construction of these algorithms involves the collection of massive amounts of data from individual users. Often times, this can be as invasive as it is effective.

Meanwhile, a full right to free speech is missing from most centralized platforms. By simply referring to the fine print in its terms of service, platforms can choose to control and censor user comments.

Perhaps the most crucial aspect of all is the need for encryption on the platforms. Although most of the major social messaging platforms claim to have end-to-end encryption in place, they often require users to sign in with a phone number. This compromises the users’ right to complete confidentiality.

Across all platforms, these inherent issues boil down to the fact that social media is by and large centralized. However, a blockchain managed by equal nodes, like any decentralized cryptocurrency, could solve this problem.

The Bitcoin model

A decentralized social media platform built on the Bitcoin model would put the end user back in charge of securing their right to privacy and removing these barriers. Besides the obvious benefits of economic decentralization, where equal value is shared between node holders and creators, a blockchain-based solution could even improve usability.

Essentially, users can log in with their private keys and immediately extract any custom settings from the blockchain. Users can then post content, vote for its quality, promote it, and subscribe to creators.

The Bastyon network, recently renamed Pocketnet, is one of those decentralized social networks modeled on Bitcoin. However, although its codebase is loosely derived from Bitcoin, Bastyon uses a Proof-of-Stake consensus algorithm.

Content creators are typically pseudonymous users identified by their public keys and the information they choose to disclose about them.

During this time, the nodes maintain the blockchain and respond to RPC socket calls from the front-end. Only if they perform these services will they be rewarded.

Encryption and direct crypto transfers

Bastyon recently released a decentralized peer-to-peer encrypted messenger, a private messenger that is not connected to a user’s phone number. The blockchain provides a ledger that allows an exchange of encryption keys to establish secure asynchronous channels.

This way, all one-on-one conversations are end-to-end encrypted by default, as are all images sent or received through the chat. As an added layer of privacy, message history is only stored for seven days.

Users will also be able to directly transfer the Pocketcoin Platform Native Crypto Token (PKOIN) through the platform. In order to get PKOIN, users can trade up to 19 crypto tokens, including BTC, ETH, and DOGE, on multiple exchanges.

Bastyons interface is also not limited to a particular geography. The platform is available in a plethora of different languages ​​such as English, German, Mandarin, Korean, French, and Russian.

According to Bastyon, virtually all of the power and wealth of today’s Internet landscape is concentrated in the hands of a few. The decentralized social network aims to solve this problem by bringing the foundations of Bitcoin to the world of Internet platforms.

Users keep jumping into centralized apps and then these platforms betray them once they get big. Bitcoin provides a model for all decentralized applications, and Bastyon is truly the Bitcoin of social media, said project founder Daniel Satchkov.

Bastyon Messenger is available on bastyon.com, as an Android app and as a desktop app.

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