{"id":118862,"date":"2023-07-06T18:03:57","date_gmt":"2023-07-06T18:03:57","guid":{"rendered":"https:\/\/dripp.zone\/news\/deso-offers-1m-bounty-for-building-decentralized-reddit-crypto-news\/"},"modified":"2023-07-06T18:03:59","modified_gmt":"2023-07-06T18:03:59","slug":"deso-offers-1m-bounty-for-building-decentralized-reddit-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/deso-offers-1m-bounty-for-building-decentralized-reddit-crypto-news\/","title":{"rendered":"DeSo offers $1M bounty for building decentralized Reddit\n &#8211; Crypto News"},"content":{"rendered":"<div data-v-7c7881ea=\"\">\n<p>Via a July 6 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/chainwire.org\/2023\/07\/06\/deso-offers-1m-bounty-for-decentralized-reddit-competitor-amid-api-changes\/\">announcement<\/a>DeSo, the decentralized social media protocol, has issued a $1 million bounty for building a competitor to Reddit using its native blockchain.  In supporting the decision, the developers wrote:<\/p>\n<blockquote><p>&#8220;Reddit recently sparked controversy within its community following a decision to limit API access. This move provoked a series of 48-hour subreddit blackouts in protest. This price hike for their API has forced existing third-party developers to shut down as maintaining their applications.&#8221; becomes impossible.&#8221;<\/p><\/blockquote>\n<p>&#8220;This controversy and others highlight the ongoing problems with centralized social media platforms,&#8221; \u200b\u200bthe developers said, while also pointing out Elon Musk&#8217;s <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cointelegraph.com\/news\/twitter-down-elon-musk-rate-limit-exceeded\">controversial decision<\/a> to impose reading limits on new and verified accounts on Twitter, citing &#8220;extreme levels of data scraping &#038; system manipulation.&#8221;  Nader Al-Naji, founder of DeSo, highlighted a shift where users embrace autonomy over social content, as with owning Bitcoin (<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cointelegraph.com\/bitcoin-price\">BTC<\/a>with money:<\/p>\n<blockquote><p>&#8220;These protests represent a broader societal shift. They are indicative of a new paradigm in how creators and users interact with social media.&#8221;<\/p><\/blockquote>\n<p>Founded in 2019, DeSo offers monetization features such as creator coins, nonfungible tokens, tokens, and tipping.  The firm claims to store user identity, profiles, content, and social graph 100% on-chain, and these content cannot be banned or blocked on a protocol level.  Recently, the firm released new in-app proposals such as Openfund 2.0, a decentralized exchange platform.<\/p>\n<p>In September 2021, DeSo raised $200 million in funding led by a16z, Coinbase Ventures, Sequoia, Pantera Capital, and others, including, perhaps ironically, Reddit co-founder Alexis Ohanian.  Currently, over 150 projects are <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/desolist.cc\/\">listed<\/a> on the DeSo community, although their market caps are somewhat smaller. <\/p>\n<p><strong><em>Magazine: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cointelegraph.com\/magazine\/decentralized-social-media-next-big-crypto-thing\/\">Decentralized social media: The next big thing in crypto?<\/a><\/em><\/strong><\/p>\n<p><template data-name=\"subscription_form\" data-type=\"defi_newsletter\"\/><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Via a July 6 announcementDeSo, the decentralized social media protocol, has issued a $1 million bounty for building a competitor to Reddit using its native blockchain. In supporting the decision, the developers wrote: &#8220;Reddit recently sparked controversy within its community following a decision to limit API access. This move provoked a series of 48-hour subreddit [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":118863,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-118862","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/118862","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=118862"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/118862\/revisions"}],"predecessor-version":[{"id":118864,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/118862\/revisions\/118864"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/118863"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=118862"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=118862"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=118862"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}