A decentralized social network (DSM) is an application running on a blockchain-based network, sustained by a complex network of nodes located all over the world. This technology cuts out the middleman and gives content creators direct ownership of their user data. Decentralized social networks enable users to engage with brands and other companies directly. However, decentralized social networks are not without their downsides. Let’s explore some of the pros and cons of decentralized social media.
Transparency
Blockchain and decentralized social media have many benefits. For starters, these networks allow users to create groups of people who are likely to buy a particular product. They also allow marketers to target more targeted leads with more effective influencer marketing campaigns. This type of social media also increases user trust and ROI. However, users are becoming increasingly aware of the power single entities have over their information. With this move toward decentralization, this power may be returned to users.
While the rise of decentralized social media platforms has sparked concerns about the proliferation of harmful content, these platforms do not necessarily create total anarchy or extremism. Despite this concern, Musk, the founder of Twitter, stated in a TED Talk a few days before Twitter acquired the website, that “online discourse should be as free and as democratic as reasonably possible.” Transparency and decentralized social media platforms can reach these ends while also fostering constructive discourse.
Security
Decentralized social networks operate independently from a central server, reducing the threat of hacks and other attacks. The biggest centralized social networks, like Facebook and Twitter, are controlled by a single central authority, resulting in increased risk of cyber attacks, data leaks and takeovers. In contrast, decentralized social networks run multiple independent servers, minimizing the chance of attack and letting users choose which networks they wish to join. They can even create their own networks if they wish.
While decentralized social networks present exciting opportunities, they also come with some disadvantages. In addition to the lack of moderators, they can also be vulnerable to malicious actors. This means that inaccurate information and offensive content can be distributed to users. Furthermore, a malicious actor can gain control of 50% of the power of a decentralized social network, making it difficult to ensure the integrity of the network. Still, these risks are outweighed by the many benefits decentralized social networks have to offer, making them an excellent choice for many users.
Lack of censorship
While the lack of censorship of decentralized social networks is a potential concern, the fact is that this type of network does not create a global censorship problem. This does not mean that content cannot be edited or deleted, but rather, that it is more difficult for users to express their views. The centralized nature of the social media industry limits creativity, different opinions, and customization, making it less useful than other forms of communication.
Another potential concern with decentralized social networks is the lack of moderators. Because there is no single person responsible for moderating content, users can post inaccurate and offensive information. Without moderators to review the content, these posts can affect the opinions of uninformed users. Furthermore, the immutability of the blockchain can encourage malicious actors to spread content that is harmful to society. In the COVID-19 outbreak, misinformation spread rapidly. This could impact conversations about the disease. Because of these concerns, there is a growing trend among users of decentralized social networks, otherwise known as federated networks.
Lack of user control
Among the many benefits of decentralized social media, the lack of centralized servers reduces the risk of hacks and other attacks. The absence of centralized servers allows users to make changes to the platform and say what they like. This type of freedom of speech makes it an attractive option for users who want more control over their social lives. However, it has some negative side effects. While decentralized social networks are less prone to hacks and attacks, this doesn’t mean that they’re completely free of all risks.
Traditional social media platforms offer no control over the data of their users. In one recent scandal, 533 million Facebook users had their personal information exposed. This data is then used to create algorithms that can affect elections, referendums, and even life decisions. Ultimately, user privacy is compromised. It’s time to end this trend. Regardless of how you feel about centralized social media, it is essential to retain a certain level of control over your information.
Challenges
There are a lot of positive things about decentralized social networks. However, these networks also have some major challenges. One of these is the risk that malicious individuals could use the platform for their own gain. This is something that needs to be considered before moving forward with a decentralized social media platform. Below are some of the main challenges and opportunities faced by these decentralized social networks. To understand the benefits and challenges of decentralized social networks, you should first know how they work.
In addition to overcoming these challenges, blockchain-based social networks allow users to control the algorithms and content on their own. Changing these algorithms and self-hosting the social network on different platforms could give content creators a sustainable source of income. Unlike current trending social media platforms, these decentralized social networks have no third-party control over their content. In addition, the open-source nature of blockchain-based applications enables private servers to be used to control content. This can make content moderation much more effective.