Subsocial — what is it?
Subsocial is one of the first 17 projects that were carefully selected by Parity to participate in the Substrate Builders program.
So, Subsocial is an open-source platform that allows anyone to create their own decentralized social network. This platform embraces the most promising ideas from the financial world and modernizes them.
In other words, Subsocial is a treasure trove of so-called “pallets,” Substrate tools that have a very user-friendly interface. With their help, anyone who wants to can create their own version of Reddit on Polkadot, which will function as a separate blockchain.
The platform is characterized by a whole set of tools.
Moreover, it is very resistant to censorship and special attention is paid to monetization (namely, there are special built-in tools for those who want to get income from their service).
TYPES OF MONETIZATION
Tip — allows social media users to make one-time donations or set up subscriptions;
NFT — the ability to make posts in a non-interchangeable token format; there is an option to sell or rent;
Promotional comments — involve payment for mentioning a product or service by Influencers;
Social tokens -Users of other groups have the opportunity to activate their cryptocurrency;
Direct advertising — it is the creators of social networks who control the advertising slots, which eliminates intermediaries between the advertiser and the developer;
Smart contracts — the implementation of their monetization options through smart contracts is done directly by the developers themselves.
It should be noted that Subsocial is supported by Web3 Foundation, Substrate Builders Program and Web 3.0 Bootcamp.
This platform is developed by DappForce and led by Alex Siman.
What issues does Subsocial help solve?
Subsocial not only gives you the opportunity to make money from your own social network, but also actively combats the unfair practices of centralized services. In the process of monetization, a significant part of the content-makers’ income goes to big social networks, and users have limited opportunities to support their favorite author. Startup gives anyone the opportunity to create their own service and set fair rules, and gives aspiring developers a wide range of tools.
Subsocial helps with issues such as:
Global censorship. IT rules the world stage, controlling even the highest echelons of government;
Limited customization. The lack of possibility for the user to customize the functions of the page of a particular social network individually;
Influence of the algorithm. The algorithm of delivery of content to each user is not directed to the user, and is not subject to change or adjustment;
Network impact monopoly. New social networks do not have the ability to outperform monopolists who do not share their network effects.
ACHIEVEMENTS
Moderation. Social media resilience to censorship. Ability of individual group users to set their own internal rules;
Decentralization. Ability to create their own Twitter or Reddit, with placement directly on the decentralized IPFS file-sharing network.
Role and permissions. Developers have ready-made permission allocation tools with detailed information;.
DAO. Communities can have more than one owner (even an organization) that models groups and establishes how they give and receive bonuses;
Treasury. Subsocial has a special fund. The money is used for the promotion and development of the ecological system.
Token. Users have gained control to a greater extent over SN. Subsocial token holders manage the network and, to a large extent, act as its owners.
An immediate personal coin sale was implemented in Q2 2021.
INVESTORS
Subsocial is backed by major cryptocurrency investors such as:
- Alameda Research;
- NGC Ventures;
- Hypersphere;
- Signum Capital;
- OKEx;
- Gate.io;
- and others.
Subsocial is also a member of Parity’s Substrate Builders Program.
EXPECTATIONS
There are plans to add several features in 2021, viz:
- free transactions for users who have been verified;
- giving tips to the authors of posts;
- Introduction of social-token.
In Q4, we plan to launch the development of a cross-platform mobile app that will support iOS/Android. The code will be developed on Flutter SDK.
As we can see from the above, Subsocial is a modern open platform that allows any user to start their own decentralized and censorship-resistant social networks and trading platforms. Subsocial will help you create your own decentralized version of the popular sites we see today, such as Medium,
Twitter, Reddit, Instagram, Discourse, Patreon, OnlyFans, and others.
Useful Links:
Website- https://subsocial.network/
App — https://app.subsocial.network/
Twitter — https://twitter.com/SubsocialChain
Telegram Chat — http://t.me/Subsocial
Lightpaper — https://docs.subsocial.network/docs/lightpaper/ Github — https://github.com/dappforce
Blog — https://app.subsocial.network/@subsocial
Youtube- https://www.youtube.com/channel/UC1xCFynfwMrjEtFdMf8nXgQ
