Decentralized Social (DESO)
| Market Cap | $70,659,881 |
|---|---|
| Trading Volume | $325,141 |
| Volume / Market Cap | 0.004601 |
| Total Supply | 10,808,492 DESO |
| Max Supply | 10,808,492 DESO |
Decentralized Social is currently trading at $7.9666, after a price change of 3.06% in the last 24 hours.
Ranked as cryptocurrency #273 by capitalization today, DESO market cap is valued at $70,659,881. DESO trading volume reached $325,141 in the last 24 hours. We track cryptocurrency data live in real-time. Make your own forecast on DESO coin price prediction page.
What is Decentralized Social?
Decentralized Social is a layer-one protocol developed from Web3 decentralized social applications. The protocol supports conventional social media features like user profiles and posts and blockchain-based features like creator coins, tipping, and non-fungible tokens. By storing all the data on a public blockchain and allowing users to run nodes that reveal their feeds, DeSo aims to solve the problems of monopoly in centralized social networks.
DeSo supports content monetization and enables content creators to engage directly with their fans through dApps. The applications supported on DeSo are of the frontend, backend, core, and identity. DeSo is planning to move from the proof-of-work consensus algorithm to the proof-of-stake.
There are 8,884,536 circulating DESO tokens from a total supply of 10,808,492 and a matching hard cap. The token is used in buying creator coins. Creator coins are social tokens allocated to each profile on Decentralized Social. The social tokens are pegged to the reputation of the holder, which makes them go up or down based on activities.
Decentralized Social was founded in 2019 by Nader Al-Naji. The platform is managed by DeSo foundation, a non-profit entity aiming to enhance the decentralization of social media.