NFT News: Jack Dorsey’s First Tweet’ NFT Went on Sale for $48M
Twitter, the popular microblogging platform, has been facing criticism for its censorship policies and centralized control over content.
In response, a decentralized Twitter rival backed by Jack Dorsey, the co-founder of Twitter, is set to launch with 1 million users.
A decentralized Twitter rival is a social media platform that operates on a decentralized network. Which means that there is no central authority controlling the platform.
Instead, the platform is run by a network of users, each contributing to the platform’s operation and governance.
This approach to social media aims to provide greater freedom and autonomy for users, while reducing the risk of censorship and manipulation.
Bluesky is the name of Jack Dorsey’s decentralized Twitter rival, which he announced in 2019.
The project aims to create an open and decentralized standard for social media, allowing anyone to contribute to its development and operation.
Bluesky will be built on top of existing decentralized protocols, such as the InterPlanetary File System (IPFS) and the Secure Scuttlebutt (SSB) protocol.
Bluesky has the potential to disrupt the social media landscape, providing an alternative to the centralized model of platforms like Twitter and Facebook.
Decentralization offers a range of benefits, including increased privacy, censorship resistance, and greater user control over data.
By creating an open standard for social media. Bluesky could also encourage greater interoperability between platforms. Enabling users to connect and communicate across different networks.
Bluesky is still in the early stages of development, with a launch date yet to be announced.
However, it has been reported that the platform is already backed by a group of investors. Including Jack Dorsey himself, who have committed to funding its development.
The platform will initially launch with 1 million users, providing a solid foundation for growth and development.
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