Tuna Chain is a modular Layer 2 solution that functions on Bitcoin while also integrating with Ethereum. Learn more about how it works in this article.

 is rightfully known for its security through its use of 

 offers greater versatility. Until recently, blockchain projects had to choose between the two. Now, however, a hybrid solution is available that blends the benefits of both of these leading blockchains and takes a bold leap into the future.

 that functions on Bitcoin while also integrating with Ethereum.

) is strongly rooted in elevating the user experience (UX). Bitcoin is the most trusted cryptocurrency, largely due to the recognized strength of its security protocols. However, while it excels in security, it lacks the versatility that ultimately fosters innovation. In this regard, Ethereum is viewed as a superior blockchain. 

Tuna Chain’s modular Layer 2 solution works on Bitcoin through a 

 hybrid layer while offering Ethereum functionality. It uses 

-powered modularity to minimize transaction costs. At the same time, this modularity improves both trust and efficiency. Tuna Chain currently supports Solana, Ethereum and Bitcoin transactions. It works with Bybit, Phantom, MetaMask, UniSat Wallet and OKX Wallet.

Tuna Chain is a new project that was established by three unknown individuals, known under the names of Tuna Nigiri, Tuna Sushi and Tuna Sashimi. Each team member brings their unique experiences and knowledge with blockchain, cryptography and 

 to move Tuna Chain forward. Tuna Chain is financially supported by BSC News, Normie Capital, Serafund, ArkStream Capital, Cogitent Ventures, MH Ventures and other angel investors. After its Ocean Festival and Ocean Trio, Tuna Chain now has over 1.3 million wallets connected on the Tuna Chain Testnet, with a total 

The purpose of Tuna Chain is to bridge the gap between Bitcoin and Ethereum. Although Bitcoin’s chain boasts superlative security, it lacks the versatility that Ethereum’s 

 provides. As a hybrid Layer 2 solution, Tuna Chain’s primary goal is to blend the two. By doing so, its founders want to push the envelope on the future of blockchains and provide a better UX.

Tuna Chain’s functionality is based on three core features: the Toro native 

, Celestia-powered modularity and a hybrid ZK-OP layer. With the Toro stablecoin, users can purchase new digital assets through the overcollateralization of their BTC supply. Meanwhile, Celestia-powered modularity improves data availability, and the ZK-OP hybrid layer executes smart contracts with fast, secure transactions.

Rollup Solutions and Operational Mechanism of Bitcoin Layer 2

Layer 2 solutions similar to those found on Ethereum enhance Bitcoin's scalability, using technologies such as 

 (ZK). Tuna Chain enhances Bitcoin's transaction capacity by integrating optimistic rollup technology into its Layer 2 framework.

Securing Native Assets on Bitcoin: Leveraging Taproot's Upgrade

 upgrade into the Bitcoin network marks a significant advancement in the security of its native assets. This update incorporates advanced cryptographic techniques, such as Schnorr Signatures, MAST and Tapscript. To further secure these assets, Tuna Chain has implemented a multisignature security model and is exploring the addition of external validators to its network security protocols.

Tuna Chain processes transactions through a detailed system that begins with the precise arrangement and execution of transactions. These are then reliably recorded on 

's data availability layer and conclusively verified on the Bitcoin blockchain. Verifiers are essential to the chain's integrity, quickly producing fraudproofs to address any transaction discrepancies and ensure the network remains secure and reliable.

Tuna Chain is a next-level Layer 2 solution that moves blockchain into the future. Each of its core features provides unique benefits to support a superior UX. 

Tuna Chain uses Celestia-powered modularity to optimize its Layer 2 functionality. Specifically, this modularity is supported by Layer 2 data management that enhances trust, improves efficiency and reduces transaction fees.

The ZK-OP Layer is Tuna Chain’s hybrid Layer 2. This layer utilizes a dual-phase architecture that integrates Ethereum’s benefits with those of Bitcoin. By doing so, it empowers smart contracts and accelerates secure transactions.

 is a grand opening event celebrating Tuna Chain’s launch. During this grand opening, the first round of TUN tokens will be distributed. Distribution cap for this initial release is based on 

 growth driven by the community, and could range between 2% and 21%. The token supply increases by 2% as each new milestone is achieved.

, the setup experience for new community members, consists of Calm Waters, Whimsical Tides and Majestic Depths. With Calm Waters, new users can receive 60 points for following Tuna Chain on social media and linking their wallet. Additional points are available by referring friends to Tuna Chain. Whimsical Tides, the testnet phase, is still in development along with Majestic Depths.

In the first quarter of 2024, Tuna Chain successfully completed several milestones, including the launch of the Tuna Testnet — Alpha, Ocean Trio Points campaign, Ocean Festival (which highlights the TVL) and the rollout of the TunaChain Explorer. 

Moving into Q2 2024, progress is ongoing with significant developments. Tuna Chain’s team is currently deploying an optimistic rollup (OP)-based Mainnet, establishing a native bridge from Bitcoin to the Tuna Mainnet, launching a Mainnet decentralized exchange (

), and developing a modular data availability (DA) layer.

Tuna Chain functions with three primary tokens: TORO, TUNA and WOOG. Each serves a different and integral role.

TORO, Tuna Chain’s native stablecoin, helps users transform their BTC into their choice of high-yield digital assets. This is accomplished seamlessly and with full transactional stability. The user doesn’t need to liquidate the BTC to complete the transaction.

 of Tuna Chain, is used for various purposes, such as revenue generation, funding builders and contributors, benefiting token holders, incentivizing users and community members, and promoting community engagement within the Tuna Chain ecosystem.

TUNA has a total token supply of 210,000,000.

 token that acts as the primary ticket into the Tuna Chain ecosystem. Only 200 of 1,000 available WOOG tokens were distributed at the BRC-20 Launchpad event. The remaining WOOG will be distributed only when they’re activated by external forces.

Looking to get your hands on the TUNA token? Bybit will soon offer it via our 

In the meantime, you can also purchase TUNA through 

WOOG tokens grant access to the Tuna Chain ecosystem. Of the total supply of 1,000 tokens, only 200 are currently scheduled to be released. These tokens are exclusively available through the 

. There’s a purchase limit of one WOOG token. While 800 WOOG tokens will remain, they’re sealed, and their release isn’t scheduled. You must have an active Bybit account with a funded wallet to participate in the event. 

TUNA tokens play a fundamental role in governance of the Tuna Chain’s unique hybrid Layer 2 chain, designed to deliver the benefits offered by both Bitcoin and Ethereum. Tuna Chain is presented as the future of blockchain, and is poised to change the blockchain landscape in exciting ways, which could place a premium on TUNA tokens. 

As an investment, TUNA should be purchased conscientiously because the value of the tokens will decrease when additional tokens are released, even for a short period of time. In addition, all cryptocurrencies are speculative in nature, with a risk of partial or complete loss. Therefore, 

 cryptocurrencies before making an investment.

Tuna Chain is a hybrid Layer 2 solution that provides a much-needed service in the blockchain world. By bridging the gap between Bitcoin and Ethereum, it allows users to enjoy the best of both worlds. In doing so, it has the potential to move the dial forward significantly in blockchain technology. Moving forward, Tuna Chain is a platform worthy of attention.

Intermediate

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Tuna Chain (TUNA): Reinventing Bitcoin With a ZK-OP Approach

Notable Ethereum Spot ETF applications have come from high-profile issuers that received approval for Bitcoin Spot ETFs earlier this year. Learn more here.

The cryptocurrency landscape could be on the brink of a major shake-up as several Ethereum spot exchange-traded fund (

) applications await regulatory approval. These financial instruments promise to bridge the gap between traditional investment markets and the fast-growing world of digital assets, offering investors a regulated and accessible means for gaining exposure to 

This article explores the top pending Ethereum Spot ETF applications, exploring their significance, potential impact on the market and implications for the broader adoption of cryptocurrencies.

What Is an Ethereum Spot ETF Application?

An Ethereum Spot ETF application is a filing submitted to regulatory bodies, such as the U.S. Securities and Exchange Commission (SEC), to list an exchange-traded fund that tracks the price of Ether (ETH), allowing investors to gain exposure to the cryptocurrency without directly holding it.

How Does an Ethereum Spot ETF Application Work?

An Ethereum Spot ETF application is a formal request by a financial institution to gain regulatory approval to offer a financial product that tracks the price of Ether (ETH), the second-largest cryptocurrency and the token of the Ethereum network, in real time. 

Investors can participate in the ETF by purchasing shares through their brokerage accounts. This way, they can gain exposure to Ether's price movements without the complexities associated with directly buying or holding the cryptocurrency. The ETF provider assumes responsibility for securely holding the Ether, managing the fund's day-to-day operations and ensuring ongoing compliance with regulatory requirements.

Current Ethereum Spot ETF Application Landscape

, Fidelity, VanEck and ARK 21Shares have all thrown their hats into the ring by submitting applications to the SEC for approval. These particular issuers have previously applied to run Bitcoin Spot ETFs that are currently approved and trading.

However, the SEC has pushed back on the recent Ethereum Spot ETF applications, prolonging the decision-making process. They've also sought public feedback in order to gauge whether the arguments supporting the approval of Bitcoin Spot ETFs are applicable to Ethereum Spot ETFs as well.

Anticipation has continued to build with the approach of the final deadlines for the SEC's decisions, set for between May 23 and Jul 5, 2024 for various applicants. The SEC's review process involves assessing factors such as the potential for market manipulation and the resemblance between Ethereum spot and futures exchange-traded products.

The outcome of these applications holds significant weight, as it could shape the future landscape of cryptocurrency investment vehicles and play an important role in driving broader adoption of Ethereum within traditional financial markets. Investors and observers alike are closely monitoring these developments, recognizing their potential to influence the trajectory of both Ethereum and the wider crypto market.

Top High-Profile Ethereum Spot ETF Applications

Several high-profile financial institutions have applied for Ethereum Spot ETFs, reflecting a growing interest in cryptocurrency investment products. Following is a list of some notable contenders.

BlackRock, a global investment giant and the world’s largest asset manager, submitted its 

 Ethereum Trust, in November 2023. However, the SEC postponed its decision to late January 2024 and again to March. The SEC is currently seeking public comment on the application, particularly concerning Ethereum’s susceptibility to fraud, and has delayed its decision until Jun 11, 2024.

Franklin Templeton, another major player in the investment world, 

 for an Ethereum Spot ETF in February 2024, making it the latest contender to join several other firms in the race. The SEC has delayed the deadline to June 2024 to rule on the firm’s application. If approved, the fund will be listed on the Chicago Board Options Exchange as Franklin Ethereum ETF.

Known for its ETFs and mutual funds, investment management firm VanEck has expressed doubts about the SEC's approval of its Ethereum Spot ETF application, 

 in July 2021. Although the SEC’s decision is expected in May 2024, VanEck’s CEO has voiced his skepticism of approval by the May 23, 2024 deadline, citing the regulators' ominous silence. Notably, VanEck holds the distinction of being the first investment management firm to file an ETH Spot ETF application in the United States.

21Shares specializes in cryptocurrency exchange-traded products (

), while ARK Invest focuses on thematic investing. The two firms 

 for the ARK 21Shares Ethereum ETF in September 2023, with the SEC expected to decide by May 24, 2024. The application has been 

 to include a cash-creation model, and has proposed plans to stake a portion of the ETF’s Ether for generating additional income.

A global asset manager focused on cryptocurrencies, Hashdex 

 with the SEC in September 2023 to list and trade shares of the 

 its decision on the application, with a verdict expected by late May 2024.

Grayscale is the world’s largest digital currency asset manager, with a range of investment products that provides exposure to cryptocurrencies and the digital currency asset class. The firm 

 its Grayscale Ethereum Trust into an Ether Spot ETF in October 2023. The SEC extended the review period, setting a new deadline for June 2024. 

Invesco, an investment management firm, has partnered with Galaxy Digital, a diversified financial services firm, to create a 

 for an Ethereum Spot ETF to be named the Invesco Galaxy Ethereum ETF. The SEC's decision, expected in December 2023, has been 

Fidelity Investments is a major financial services corporation with a global presence and millions of customers. Fidelity first filed for an Ethereum Spot ETF in November 2023. It later 

 its application in March 2024 to include ETH staking, which would allow investors to earn additional income from staking rewards. The SEC has set a deadline of May 23, 2024 to approve or deny the application.

What Could Happen If an Ethereum Spot ETF Application Is Approved?

The approval of an Ethereum Spot ETF application holds significant implications for the cryptocurrency market.

Approval of an Ethereum Spot ETF could mark a significant milestone for the crypto market. It would greatly improve Ethereum's accessibility, bolster market confidence and potentially drive up Ether’s price. In addition, such an approval would represent a new milestone in cryptocurrency adoption, providing investors with a regulated and easy avenue for investing in Ethereum. Nevertheless, regulatory hurdles and market volatility are variables that could influence the timing and magnitude of the approval of the pending applications.

ethereum spot etf applications featured image

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An Overview of the Top Pending Ethereum Spot ETF Applications

Stripe is reentering the cryptocurrency market by allowing merchants to accept payments in USD Coin (USDC) on Ethereum, Solana, and Polygon networks

The SPX index is down 0.46%, influenced by disappointing economic data indicating a slowdown and persistent inflation, along with poor earnings from companies such as Meta Platforms and IBM. The broader cryptocurrency market is up, with Bitcoin and Ether rising by 1.12% and 1.45%, respectively in the past 24 hours.

Today’s outperformer is W, which jumped 16.1% after Wormhole launches Native Token Transfers for seamless W token interoperability across blockchains.

Wormhole (W), launched in 2020, is a cross-chain protocol that facilitates communication and token transfers across over 30 blockchain networks. Originally a crypto bridge between Solana and Ethereum, it has expanded to include features like the Portal token bridge and messaging protocols, serving as a comprehensive platform for cross-chain interactions. Wormhole has launched Native Token Transfers (NTT) to enable seamless transfers of the W token across blockchains like Solana and Ethereum without needing liquidity pools. This innovation supports Wormhole's introduction of a multichain governance system and W staking, enhancing the token's functionality and security across diverse ecosystems. NTT marks a key step in Wormhole's roadmap, advancing its commitment to interoperability and decentralized, flexible token usage.

Check Out the Latest Prices, Charts, and Data of 

Stripe is reentering the cryptocurrency market by allowing merchants to accept payments in USD Coin (USDC) on Ethereum, Solana, and Polygon networks starting this summer. Originally, Stripe accepted Bitcoin in 2014 but discontinued this option in 2018 due to increasing costs. The new initiative will support USDC transactions that are automatically converted to fiat currency for merchants, aiming to enhance global payment accessibility, particularly for those without traditional banking facilities. This marks Stripe's continued interest in the evolving potential of cryptocurrencies.

Bitcoin's price showed volatility near $64,000, influenced by reduced ETF inflows and a market tug-of-war. U.S. inflows slowed, ending a streak for BlackRock’s iShares Bitcoin Trust. Meanwhile, Morgan Stanley may soon enable direct broker recommendations for Bitcoin ETFs, potentially increasing demand. In contrast to U.S. regulatory hesitations, Hong Kong is launching three spot BTC ETFs. Despite these fluctuations, Fidelity Digital Assets remains optimistic, citing an increase in smaller Bitcoin wallets as a positive indicator of broader adoption.

The Aethir Cloud Drop campaign features an airdrop that is accessible through various activities, including purchasing Aethir Checker nodes, engaging on social media, participating in quizzes, referring friends, and being part of certain NFT/token communities. Eligibility for the airdrop is determined by a badge and quest system. More details are provided on their website and Twitter page.

Beginner

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Stripe Reintroduces Crypto Payments with USDC Support on Multiple Blockchain Networks

Merlin Starter (MSTAR) is an IDO launchpad and accelerator dedicated to supporting Layer 2 projects for Bitcoin native asset applications.

Over the last couple of years, projects aiming to develop the wider Bitcoin (

) crypto ecosystem have been gaining more attention in the crypto industry, taking some focus away from 

-based initiatives. With the arrival of projects such as 

, one might even say that the Bitcoin ecosystem is experiencing a kind of innovative development that characterized Ethereum's heyday between 2015 and 2020.

Among the projects driving this phenomenon are Merlin Chain (MERL) and its integral Merlin Starter (MSTAR). Merlin Chain is a Bitcoin Layer 2 (L2) platform committed to supporting utilization and enhanced liquidity for Bitcoin native assets, while Merlin Starter, a Bitcoin-focused 

 and L2 project accelerator, is a core part of the wider Merlin ecosystem,

 (MSTAR) is an IDO launchpad and Layer 2 accelerator dedicated to supporting promising Bitcoin-focused decentralized projects.

 It's an integral part of the L2 Merlin Chain (MERL), designed to facilitate a seamless flow of Bitcoin native assets across various protocols in the Bitcoin ecosystem. Merlin Starter aims to support projects dedicated to enhancing the circulation and liquidity of Bitcoin native assets, both on Merlin Chain and across a variety of Bitcoin-focused protocols and networks.

Founded in 2023, the Merlin project launched its operations in early 2024, with Merlin Starter's native MSTAR token debuting in mid-April 2024.

Merlin Starter is made up of two main components — an 

 launchpad and a Bitcoin Layer 2 project accelerator. Additionally, the 

 NFT collection is a critical element within the project's ecosystem.

The IDO launchpad on Merlin Starter facilitates the launch of projects dedicated to native asset issuance, enhanced 

 and free asset circulation for the Bitcoin ecosystem. It's the first native launchpad of the Merlin platform. The launchpad also supports new projects that explore cross-chain functionality and focus on enabling Bitcoin native assets across different platforms.

As of late April 2024, the launchpad is still in the early stages of its operation, but already lists a couple of initial projects that it’s helped to launch. The most recent of these is Sparkle (FCFS), a gamified astrology app.

The Merlin Starter launchpad offers a number of different token launch modes, including 

, oversubscription lotteries and allocations based on preset weightings. A variety of token standards are supported, including the highly popular 

 and ERC-20 as well as the less common BRC-420, ERC-404 and Atomicals (ARC-20). Standards supporting cross-chain assets may also be available. 

Merlin Starter’s IDO launchpad also features an insurance protocol that helps protect investors from either 7-day or 14-day loss.

While the Merlin Starter IDO launchpad is dedicated to facilitating the launch of new tokens, its accelerator is an initiative aimed at providing consultancy and support to L2 apps and protocols at the pre-launch stage, as well as in the critical post-launch period.

Via the accelerator, the Merlin Starter team offers multidisciplinary consultancy services in areas such as technical support, marketing strategies and initiatives, human resources and 

Merlin's Spellbook is an NFT collection issued by Merlin Starter. Spellbook NFTs grant holders eligibility for a 20,000,000 MSTAR token airdrop, should they choose to stake the NFT. Staking a Spellbook NFT in exchange for MSTAR locks the NFT, and the NFT is subsequently burned. As an NFT staker, you may also qualify (depending upon random selection) for IDO whitelist entries.

At the center of the wider Merlin ecosystem, Merlin Chain is an L2 platform dedicated to enabling cross-chain applications utilizing Bitcoin native assets. Although it operates as a dedicated Bitcoin L2 network, Merlin Chain also offers 

 (EVM) compatibility in order to better support cross-chain use cases.

 network, which allows it to achieve significant scalability and cost efficiencies. The average block time on the chain is less than one second, while the average transaction fee is measured in tiny fractions of a cent.

Merlin Starter's native crypto, MSTAR, is a recently launched token (April 2024) that’s used for the following functions on the IDO launchpad:

The token's maximum and total supply is 1 billion. Supply allocation shares for MSTAR are shown in the chart below.

You can buy the MSTAR token on Bybit through a Spot pair with USDT (

). Additionally, you can join Bybit's MSTAR campaigns to grab a share of the 

The first campaign, MSTAR Community Airdrop Quest, runs through May 10, 2024, 8AM UTC. It’s offering a total prize pool of 8,900,000 MSTAR, featuring a 7,000,000 MSTAR community airdrop, a 1,000,000 MSTAR referral prize pool and an exclusive affiliate referral event with a 900,000 MSTAR prize pool. The second campaign, Token Splash, is being held through Apr 30, 2024, 9AM UTC, with a 2,800,000 MSTAR prize pool.

As a plethora of projects such as Merlin Starter look to extend Bitcoin's functionality, its blockchain is steadily moving away from a passive state of use that’s reserved for asset transfers and storage. Merlin Starter is contributing a great deal to putting Bitcoin native assets to use in various apps and protocols.

While Merlin Chain is doing the critical job of enabling the actual utilization of assets via its Layer 2 network, Merlin Starter is a pivotal endeavor aimed at supporting numerous new projects looking to make Bitcoin a more active crypto environment. The more of these projects we see, the more likely it is that Bitcoin will develop into a thriving ecosystem that could rival Ethereum’s. To achieve such a goal, Merlin Starter is exactly the catalyst the industry needs.

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Merlin Starter (MSTAR): Empowering Startups and Innovation

Bybit Learn

DeFi

DeSo is a decentralized social network that offers users ownership over their own content and the ability to monetize it. Find out more about how it works here.

Social media is becoming a more important part of our everyday lives. 

 can improve scalability, privacy and overall infrastructure.

. It’s a web3 social layer that enhances the way we interact with one another. The use of on-chain open data allows multiple decentralized social media applications to quickly share data. The 

 cost-effective technology is also designed to efficiently store data. Use this guide to learn more about DeSo, and how it’s affecting the future of social media.

DeSo is a decentralized social network that not only offers users most of the functionality of Web 2.0 social media platforms, but also enhances it by offering users ownership over their own content and the ability to monetize it. 

DESO is the native cryptocurrency on the Decentralized Social blockchain. This unique, open-source Layer 1 blockchain is designed to support and scale social media applications that require large amounts of data.

, a former Google software engineer. Because of his dedication to decentralized social media, he’s been given the nickname “the Facebook Killer.” Development for the Decentralized Social blockchain began in May 2019 under the name 

. He also began the DeSo Foundation to support blockchain development and the decentralization of social media.

Several early investors were on board with BitClout’s concept. The DeSo platform raised $200 million for development from 

In March 2021, BitClout launched a prototype of a decentralized version of Twitter built on the DeSo platform. Only a few select early investors were given access to the website. These investors were encouraged to invite other users to the platform, which became very active within a few weeks. This unique prototype demonstrated the versatility of the DeSo infrastructure, and showed how decentralized social apps could easily use the technology to scale. DeSo quickly introduced other features in 2021, including social tipping, NFTs, 

In December 2021, DESO became listed on Coinbase, only a few months after the DeSo platform was introduced. This meant that DeSo was among the fastest Layer 1 blockchains to be listed on the exchange, which has its own standards and requirements.

 joined the DeSo team to help scale the business. His current goal is to expand the web3 capabilities of the decentralized social media platform and further enhance the creator economy.

DeSo aims to be the first decentralized blockchain-based social media platform. The DeSo platform will connect people with common interests, and give people more control over their social media interactions. Because the platform is blockchain-based, users will also be able to maintain a sense of privacy and an added layer of security when interacting with one another.

As social media continues to grow, privacy is becoming a bigger issue. Major social media platforms have a long history of controlling and selling user data. DeSo allows users to control every aspect of their social graph in a decentralized environment. Not only will this give you access to all your social content on a single platform — it means you truly own your own data.

DeSo also makes it easier for social media applications to scale. Web 2.0 social media platforms require a lot of digital storage to support billions of users. Uploading “likes,” pictures and status updates onto a blockchain like Ethereum would cost millions of dollars, as compared to DeSo. According to their website, the cost of storing about 200 characters on-chain is $0.000017, compared to Ethereum’s $78.75. Even more cost-efficient options like 

 don’t come close to the platform’s storage prices.

, or IPFS, which connects all devices on the network to the same set of files. This data isn’t stored in a single location — as it would be on a typical Web 2.0 social network — making it less prone to hackers.

The token-based system allows all users to easily access and contribute to the network. DeSo’s native token, DESO, can be exchanged between users on the network. Users can also earn tokens by posting content, commenting or liking posts, and tagging other users. Content creators can also easily be tipped diamonds, which are directly deposited into the user’s wallet. According to

, some users earn thousands of dollars in diamonds each week.

All activities on the DeSo platform have a price. Whether you’re voting in a poll or posting a status update, you’ll need to pay tokens. The more active you become on the blockchain, the higher the fee becomes. While at first this may sound like a disadvantage, keep in mind that 25 percent of the fees collected are redistributed to token holders.

Decentralized Social is based on the Ethereum blockchain, but it uses a hybrid 

 (PoW) consensus mechanism to operate. This results in far lower energy costs. While the hybrid PoW mechanism is efficient, the DeSo Foundation has announced that a 

Decentralized Social has a number of features that make it a truly unique platform. Most blockchains are built with 

 (DeFi) applications in mind. Instead, DeSo focuses on running social media applications. Social media has several different requirements from typical DeFi applications, especially when it comes to interaction and storage. Here are just some of the features that set DeSo apart.

The DeSo platform currently uses a hybrid consensus mechanism to operate. By using a PoW model, the blockchain is able to maintain high levels of security while using considerably less energy than other major blockchains. The development team is consistently working to enhance the model, and plans to move to a PoS protocol in the future.

A social graph illustrates the connections between users, groups and organizations on a social network. With decentralized social media, all user data is open. This allows users to store all of their posts and social graphs directly on-chain, which makes it impossible for social platforms and third parties to use your connections against you.

Most blockchains are designed to store light amounts of data for efficiency. While DeFi protocols typically only need a few bytes of storage space, social applications require infinite amounts of data. 

 addresses this issue while allowing for enhanced scalability.

Blockchain activities are typically synced by downloading blocks. Every transaction contained within the block is downloaded. While this can happen very quickly, it uses large amounts of data to process each transaction. Hypersync reduces the amount of data being used by providing users with a snapshot of block activity. The records are trimmed down, and made smaller and more efficient.

On-chain storage is a problem for many blockchain networks. When it comes to the amount of storage space required for large social media networks, blockchain technology typically can’t keep up. That’s because most blockchains were built to power finite-state applications, with a set amount of storage requirements. However, social media apps are infinite-state applications that can grow indefinitely. The DeSo platform uses a custom-built complex system of indexes to increase scaling.

 is a development tool that allows users to easily store key pairs, or credentials, in applications built on the DeSo platform. Developers don’t need to worry about creating extensive forms or input validations to verify individual identities. Instead, this is seamlessly integrated into the app.

At the time of this writing (December 5, 2022), there are hundreds of 

 accessible on the DeSo platform. With several development tools readily available, new applications are popping up regularly. Among the most popular are:

The DeSo platform is the perfect place for content creators to earn money. With multiple decentralized social applications, there are dozens of ways creators can get paid for their work so they can start earning additional income. With web3 and blockchain technology, it’s easier for creators to maintain ownership over your content and connect with your followers.

Every profile on the DeSo platform has its own unique 

 that’s assigned to it. Also known as creator coins, social tokens are unique assets that can help draw users to your content. When creator coins are sold, the creator receives a portion known as the founder’s reward, or FR for short. While the default FR for social tokens is 100 percent, you can lower the amount later to entice investors.

Utilizing creator coins can be a great way to raise extra funds for a project. You can find unique ways to promote your social tokens online. 

NFTs are continuing to grow in popularity. Using the NFTz application, artists can sell their work to the highest bidder, much as they would on OpenSea. Unlike other blockchains, creating a new NFT on DeSo costs very little and uses a gasless 

 process. The Social Zone also allows you to easily coordinate NFT projects and build your fan base.

Social tipping allows fans or viewers on DeSO to easily donate diamonds to their favorite creators. Rather than “liking” content, users can send content creators real money with the click of a button. Social tipping encourages content creators to develop regular content on the DeSo platform, while extra incentive also encourages users to create engaging content of value. Because of the way the DeSo platform operates, there are several opportunities to collect tips.

It can be a difficult choice to move to a new platform if you already have an existing following. It takes time and effort to fully learn all of the features of a new social application. While Decentralized Social may seem complex, the DeSo platform is easy to navigate, and has a low learning curve. There are also several unique benefits to using the DeSo platform that you won’t find on a typical Web 2.0 social platform.

Did you know that several social media platforms can use your content without your permission after you post it? While most popular platforms allow you to maintain your intellectual property, you may not have full control over who sees it. With the DeSo platform, you’re always in control over your content. Blockchain technology also allows you to easily move your content from one social application to another.

As mentioned above, monetization is much easier with the DeSo platform. There are several methods content creators can use to generate extra revenue. The easiest way to monetize is through diamonds, but you can also take advantage of the NFT marketplace or social tokens. Whether you want to monetize by encouraging others to buy your creator coins, or through social tipping, all you need to do is start posting engaging content and build a community to monetize on DeSo. The more people who interact with your content, the greater your potential to earn.

Creating new applications on the DeSo platform is fairly straightforward, and a lot of resources are available.

 is a great place to start researching what you’ll need to complete your project. You’ll also be able to use programming languages you may already be familiar with, such as 

. Because the DeSo platform is open-source, the possibilities for application development and the use of the web3 social layer are endless.

Blockchain technology makes it easier to keep your social media activities private. Instead of private companies holding your data, it’s safely stored on the DeSo platform. It can’t be accessed without your permission, much like when you’re using blockchains for financial applications.

While the content you see on the network isn’t regulated, it does use a reputation system. This decentralized system can be used to rate the accuracy of the content you see. Because users must pay for all activities, they’re less likely to see people with multiple accounts. The lack of an algorithm also allows users to tailor the content they’re shown with more precision.

Decentralized Social has achieved a lot in the past two years, especially when you consider that the DeSo platform is unique with its own set of challenges. In 2022 alone, Decentralized Social launched Hypersync, 

 that outlines the achievements DeSo hopes to make over the next few months. While the document reminds us that this road map is a draft, it helps to show some of the many projects the development team is working on.

Q3 2022 marked the start of the “Social Layer of Web3,” also known as Phase One. During this time, MetaMask was integrated, enabling the ecosystem to be utilized cross-chain. This also facilitated easy integration among Ethereum-focused platforms needing a decentralized social layer for communication. The quarter also saw the launch of the 

, and the ability to accept any funds, including 

, on DAODAO. Toward the end of the year, users will be introduced to on-chain end-to-end encrypted group chats.

During Q4 2022, there will be a transition into Phase Two, also known as the “Internet of DeSo.” This phase will focus on recruiting new creators and increasing global DESO liquidity. There will be a heavy focus on long-form content, and encouraging creators to post blogs. This in turn will help creators monetize their content and, ideally, make DeSo a top way to share long-form thoughts.

Associations, a “verification paradigm” expected in Q4 2022, will allow app developers and users to easily establish relationships between users and their content, which will help creators build authority and trust among their followers.

Storage capabilities may also get an upgrade in Q4 2022 with the launch of DeSo Vaults, a way to store content directly on the blockchain. Users will be able to create and render static html pages, essentially creating a fully-decentralized version of the internet.

The last phase, “Revolution,” begins with the development of new content for 

 and the integration with a major NFT platform. Moving into 2023, users can expect to see more cross-chain social integrations appearing on top blockchains. There will also be major upgrades to creator coins.

One of the more ambitious items on the road map is 

, scheduled for launch in Q1 2023. Short for “Infinite Proof of Stake” it will likely be published before Q4 2022, leading the way for DeSo 2.0.

While an additional phase, known as “DeSo Glass,” has been announced for Q2 2023, the road map doesn’t currently contain any details.

DESO has varied greatly in price since its initial launch in June 2021. At the time of its release, the token was valued at just over $178. As of Dec. 5, 2022, the token is valued at over $9. While this is a big jump downward, the token has had two years of big ups and downs.

Listing the token on Coinbase in December 2021 caused a temporary spike in price. This sharp increase led its price to a high of $438.10, an impressive 151 percent price jump.

While the blockchain is open-source, a large amount of funds are currently reserved for future development. Additional investments in the blockchain could result in future price fluctuation and an increased number of individual users.

Decentralized Social has a wide range of price predictions. While the chart indicates a steady downtrend, some price predictions are less bearish.

DeSo Crypto: An L1 Blockchain for the Decentralized Community

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