Subsocial

[Shootka23 337]

I decided to translate my article, which I wrote on the Russian-language thread of this forum.

 

 

Hello everyone, wandering through the vastness of the crypto world, I came across one interesting project, and I would like to tell you about it.

What is Subsocial?

 It is an open platform for building decentralized social media and marketplaces. Its main features are censorship resistance and built-in monetization methods. The platform allows users to create their own decentralized sustainable social networks and have full control over them. Subsocial developers describe it as a user interface for decentralized communities.

Here is a link to the project itself https://app.subsocial.network/

Why do I think that this project is worth our attention at all? Because he has already enlisted the support of the web3 foundation and the polkadot / kusama community. Integration with Acala Network, Crust Network and OpenSquare is also planned in the near future.

At the moment, at the testing stage, Subsocial already reads over 2,200 groups in which users interact with content creators. On April 4, Subsocial won an auction spot on the Parachain Rococo testnet from Polkadot.

Subsocial was one of the first 17 projects chosen by blockchain developer Parity to participate in its Substrate Builders program. Subsocial also received high praise from Polkadot founder Dr. Gavin Wood, who saw it as part of the Polkadot and Kusama ecosystem back in 2019. as one of the parachains coming later this year.

 

Alex Siman is the founder and architect of Subsocial. Siman is also a Polkadot Ambassador and Founder of DappForce, Substrate Ukraine and LearnWell Club.

The subsocial platform has two main parts. Firstly, it is an independent blockchain built on Substrate (which hosts its custom social media modules), and secondly, a decentralized application (DApp) that functions as a social network and for which a cross-platform mobile application (Android / iOS ). later this year.

Alex says Subsocial will help creators to easily create their own decentralized versions of social media, marketplaces and platforms like Reddit, Instagram, Twitter and Medium, allowing social media users to do whatever they are used to doing on traditional social platforms.

Subsocial blockchain also has an open, permissionless API, just like other blockchains like btc and eth. This, in turn, will allow the platform to flexibly include several DeFi elements, which will allow users to accept payments in cryptocurrency for a huge number of types and forms of content.

However, for social networks, the big question remains: how to popularize decentralized social networks and monetize them effectively enough so that they can flourish and scale accordingly?

In his light paper, Subsocial lists a number of potential revenue streams that it is currently exploring, which include the most advanced areas of the crypto space today, including decentralized finance, smart contracts, and non-fungible tokens (nft).

Alex Siman says there will be several ways to monetize content on Subsocial, all aimed at increasing value for creators and delivering better, more relevant content to users.

The internal currency of the project is sub, for sub there is already functionality, because they are used for posting, that is, in order to make a post, you need to pay sub.

 

Sub can be obtained in the auction, which is now being held at Kusama, there you will be given 150 sub for locking one Kusama, I will not attach a referral link, so that there are no problems with this, everything is easy to find there, a link to the site I left it, I think you will figure it out. Also, I think it will not be difficult for you to calculate the potential profit, there is simple mathematics, you can find all the information you need for this on the website. But this is by no means investment advice.

 

So I told you about Subsocial, Thank you for your attention.