In a world dominated by centralized platforms, decentralized social networks have emerged to decentralize the internet. In this article, we’ll explore how they can bring an end to Big Tech and offer a way forward for users who want more control over their data.
Bitboy is a decentralized social media platform that allows users to share and discover content without the need for third-party advertisements. The platform also doesn’t have any centralized servers, meaning that it’s completely anonymous. Read more in detail here: bitboy crypto.
Founder of BitBoy Crypto, Ben Armstrong
How Blockchain Can Help You Avoid Bad Incentives, Scams, and Censorship
The internet’s wiring is a tangle that we hardly understand yet depend on for almost everything. However, there is a serious issue that was recently highlighted when Facebook, Instagram, and Whatsapp all went down for the count, putting companies, brands, and individuals who depend on them out of business. Third parties possess and control the overwhelming bulk of our information. We are continually threatened by security and censorship. As we witnessed on Monday, October 4th, your data isn’t your data–it may be erased, sold, or censored at the whims of big companies or hacker organizations. This is due to the fact that centralized systems are by their very nature vulnerable to manipulation. This is fixed by blockchain, which eliminates poor incentives, frauds, and censorship while also returning authority to the person.
Incentives that are unfavorable to actors result in bad actors.
The incentive structure that encourages centralized firms to collect data and store it in silos for profit is obvious. More network expansion on their platform implies more profit for conventional big tech, while intermediaries take a share of each ‘transaction.’ This monetization paradigm is completely inverted with decentralized media, as the value extracted from a user branches out from that person, not the other way around. The typical concentrated tech oligarchy generates wealth today. “Whereas most technologies seek to automate personnel on the periphery performing mundane jobs, blockchains automate away the core,” remarked Vitalik Buterin. Instead than throwing taxi drivers out of employment, blockchain puts Uber out of business and allows taxi drivers to deal directly with customers.”
But arguably the main issue isn’t the data silo itself– it’s the fact that the bigger the data silo, the sweeter the honeypot for malevolent actors becomes.
Please read: Why Verification Isn’t Pointless, but It Doesn’t Mean Much
Multiple security breaches have occurred on Twitter, making it easy prey for fraudsters. Celebrities’, people’, and organizations’ high-profile accounts are often hacked. Hijackers exploited verified accounts from crypto firms like Binance and Coinbase, as well as well-known celebrities like Bill Gates and Elon Musk, in the notorious coin giveaway fraud. Scammers obtained hundreds of thousands of dollars in BTC as a result of human mistake resulting from the platform’s centralization. Scammers have a wonderful chance to hack, breach limits, and penetrate an account’s security imposed by the owner since some internal, authorized Twitter workers have top-tier access.
The money fraudsters have taken through trojan-horsing their way into users’ DM’s via impersonation accounts isn’t included in those hundreds of thousands of dollars worth of bitcoin, which will likely grow into hundreds of millions of dollars worth of bitcoin as time goes on. My Twitter account, for example, is @Bitboy Crypto. Countless other combinations have been produced by impersonators, like @Bitboy Crypto (Notice the added underscore?) Even though Joe Rogan’s identity has been established, individuals continue to impersonate him and use his image to defraud others. What’s more concerning is that the Twitter verification process is opaque and biased, with one central organization having the authority to designate one account verified over another for no apparent reason. While verification is beneficial, it does not solve the issue.
Because of its immutability and ability to prohibit ‘double-spending,’ or in this instance, duplication of an individual/organization/entity, a blockchain-based system may foil fraudsters. For example, via a process known as consensus, network members must agree that the account is legitimate. Each successive interaction, like a block in a transaction, is given a cryptographic timestamp and linked to the chain’s most recent block. Every new piece of material generated will simply add to the chain, which can be verified in an instant. While revealing the genesis of an account, including every imaginable offshoot of activity, the original record will always be available.
There is no freedom to express without the freedom to offend.
Governments around the world are enacting internet shutdowns at an increasing frequency and sophistication–and it’s happening exponentially, according to a recent study published by Google’s Jigsaw project with the digital rights nonprofit Access Now and the censorship measurement company Censored Planet. For example, 768 shutdowns have happened in the previous ten years, out of approximately 850 confirmed shutdowns. Internet shutdowns, according to the report, range from complete shutdowns or blackouts that cut off access to the whole web within a certain area to more targeted partial shutdowns that affect key services like major social media and messaging applications. Shutdowns are justified for a variety of reasons, including national security concerns and “preventing the propagation of disinformation.” Furthermore, the report shows that shutdowns aren’t only growing more common; they’re also becoming more nuanced, with strategies including throttling a URL to drastically decrease its performance, banning particular internet addresses, and limiting mobile data consumption.
As a content creator, I’ve had firsthand experience with this. Saying a term that rhymes with “toe bid,” for example, activates YouTube’s algorithm, preventing users from seeing the video. It’s possible that it’ll be demonetized, pulled down, and the channel will be stopped or perhaps deleted. YouTube employees can’t tell you what went wrong because they don’t know–all it’s algorithmic. Because the algorithm isn’t clever enough to determine the details of the infringement, it falls into a wide category. Humans, on the other hand, built the algorithms. People may have everything taken away from them at any time, whether it’s a content creator’s money or an individual’s perspective. “Censorship is telling a guy he can’t eat a steak merely because a baby can’t chew it,” wrote Mark Twain.
We need social media that is free, open, and unaffected by restriction. Because it eliminates the need to trust a centralized authority, blockchain allows us to do so.
On the Public Ledger, History Will Be Written
Users are understanding that a decentralized alternative will give them with better security, freedom of expression, and ownership over their data, hence the presence of a single point of failure in centralized platforms is being scrutinized. Decentralizing the web, on the other hand, will take time since the communications layer is still strongly dependent on the present internet infrastructure. On the other hand, decentralized social media is a step in the right direction.
Yes, we live in a capitalist world, and these platforms are allowed to do as they choose, but keep in mind that the (bit)coin also allows others to create alternatives. The victor will no longer write history. It will be recorded in the public ledger and will be visible to anyone.
The “bitboy crypto twitter” is a decentralized social media platform that allows users to create their own social media accounts without the need of an email address. The platform also offers user-friendly features such as customizable avatars, chat rooms, and other tools.
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