Centralized social media is a problem. We just saw that with the Youtube bans. What are our alternatives? We explored various options
Not that long ago we were boasting that De-Fi and gaming will lead to the cryptocurrency movement. However, the recent Youtube ban has turned the tables. Big names like Ivan on Tech, Boxmining, and Altcoin Buzz got banned. Consequently, everybody started searching for alternatives, particularly decentralized ones. We explored the alternatives for you.
Note that this is not a ranking list.
LBRY is a protocol that allows anyone to build apps that interact with digital content on the LBRY network. It is a free, open, and community-driven digital marketplace that enables content sharing, monetization, discovery, and consumption.
LBRY enables people to create databases that no single entity controls, store financial transactions (such as tips, and purchases of paid content) using LBC (LBRY Credits). When a creator publishes something on LBRY, an entry is made on the LBRY blockchain.
- Set the price per view (can be free too) which is paid directly to the creator.
- Pricing is completely at the discretion of the creator, and 100% of that price goes to the creator.
- Content can either be published anonymously or to a particular channel/identity which groups content in a single location.
- Both channels and claims require a deposit (bid) of LBRY Credits (LBC) in order to reserve their location on the LBRY network.
- LBRY allows you to sync YouTube content and pays a certain amount for the same.
- Creators can accept micropayments for every view without worrying about credit card processing fees.
- A studio could use LBRY to distribute a theatrical release to independent theaters and charge thousands of dollars per download.
- Any type of content can be shared – video, music, ebooks, images, podcasts – all on the same platform.
You get 1 LBC when you sign in and enter your email ID. The website has a simple and sleek user interface. LBRY also has an android app that is easy to use.
Uptrennd is one of the most exciting new platforms in the ecosystem. This fully self-funded project is currently centralized. However, it plans to become fully decentralized within 3 years.
Uptrennd focuses on content related to Blockchain only. It will have a methodical diversification of topics in the future.
How to earn1 UP Token?
- Posting content
- Receiving an upvote on post or comment
- Reposts earn 50% of the points
- Receiving donations from other users
- Monthly and Weekly contests
- Inviting new users onto the platform
- Exchanging tokens for points
Use of points
- Level-Up- The higher a member’s level, the more rewards they can earn. At level one, members earn one token per upvote.
- Advertisement placement in the sidebar
- Highlighted posts
- Redeem for Crypto – Exchange points for 1UP tokens.
Uptrennd has seen a significant increase in users in the past months
Steemit is built on the Steem blockchain. Accordingly, it uses Steem cryptocurrency. It reads and writes content to the Steem blockchain, which stores the content in an immutable blockchain ledger, and rewards users for their contributions with digital tokens. Every day, the Steem blockchain mints new Steem tokens and adds them to a community’s “rewards pool”. These tokens are then awarded to users for their contributions, based on the votes that their content receives. Posting, commenting, or voting in Steemit is free.
How to earn Steem?
- Posting – Share posts, earn upvotes from community members.
- Voting and curating – If you discover a post and upvote it before it becomes popular, you can earn a curation reward. The reward amount will depend on the amount of Steem Power you have.
- Purchasing – Users can purchase STEEM or Steem Dollar tokens directly through their Steemit wallet or an exchange using bitcoin, Ether, or other cryptocurrencies.
- Vesting – STEEM tokens that are powered up to Steem Power will earn a small number of new tokens for holding.
Theta is a project by SLIVER.tv. The latter has been at the forefront of developing next-generation video streaming technologies for VR and spherical 360° video streams since 2015. This very popular project is currently in the closed beta stage with 100 users staking on the Theta testnet.
Theta protocol introduces a new blockchain and a native token structure.
- Caching nodes: Earn tokens for caching and relaying video streams to other viewers
- Viewers: Earn tokens from advertisers as engagement rewards.
- Streaming sites and platforms: Earn through sales of premium goods and services, and deepen user engagement.
- Advertisers: Funds advertising campaigns with tokens to support influencers, streaming sites and viewers
- Streaming sites and platforms: Can offload up to 80% of Content Delivery Network costs
That said, Theta protocol’s foundation is built upon three concepts:
- Multi-Level BFT: The Multi-Level BFT consensus mechanism allows thousands of nodes to participate in the consensus process, while still supporting very high transaction throughput (1,000+ TPS).
- Aggregated Signature Gossip Scheme: Aggregated Signature Gossip Scheme could significantly reduce messaging complexity.
- Resource-Oriented Micropayment Pool: An off-chain “Resource Oriented Micropayment Pool” allows a user to create an off-chain micropayment pool that any other user can withdraw from using off-chain transactions, and is double-spend resistant.
Minds is one of the most advanced platforms currently available. It is a user-owned platform, with zero censorship of the network. It is an open-source project, and users can make changes in the source code. Minds is currently running on the Ethereum Mainnet. It also has an off-chain version which runs in Minds’ servers.
Minds need the user’s mobile number to enable its rewards mechanism. You can earn Minds Tokens by making a post, liking or disliking something, sharing a photo, uploading a video, or writing a blog post. Even just logging into the profile page on a browser or on the mobile app counts as check-in and can earn cryptocurrency. Each action made on the site is worth a different number of points. These points add up to the daily contribution total. Actions, like checking feed or uploading something, are only worth a small number of points. Content, like sharing a link or writing a blog post, is worth more.
Important features include
- Minds tokens boost any post or content shared with the site
- Fans of a channel can unlock premium content by directly sending tokens through a process called a wire
- Tools available to block/ filter out Controversial Content, Explicit Content, Over 18, Block Tool
- ‘Remind’ feature is like re-posting or re-tweeting
- Minds Pro: Minds offers a premium subscription for 5 tokens per month that give users access to exclusive content, the ability to become verified, and to “banish all the boosted posts” from their feed
- Receive tips and subscription payments in USD, Bitcoin, Ether or Minds Tokens.
- Video conferencing facility
- Moderation and jury system
This article is for educational purposes only. The content heavily borrows from official websites of individual platforms.