Hosting Everything On-Chain with Internet Computer Protocol is the Foundation for Web3
On-Chain hosting enables maximum decentralization, censorship resistance and true ownership of the data. Social-Fi is already here!
@balajis talks about moving data on-chain to gain an edge against censorship tactics. Internet Computer Protocol has been storing everything on-chain since the mainnet- thanks to its reverse gas model and bleeding edge smart contracts (aka Canisters).
Hosting on-chain can support Decentralization and Censorship Resistance/Free Speech among other things.
Facebook ( now Meta ) is notorious for its censorship and data mining practices that are damaging the users of their very own platform. These monopolistic giants can censor you because your data is in their cloud. So head in the cloud means your information is in the cloud. I like “Head in the singularity” more. Decentralized innovations and services remove the need for trusting any single authority. This is the core principle of Ethereum.
Do you ever see Facebook or Whatsapp airdropping tokens or giving back.
Decentralized Social Media and Social Fi
Now let us talk about decentralized social media that run entirely on-chain, and the control is in the hands of its users / token holders.
Here are some of the cool things that you can do with hosting data on-chain
The user owns their data and will have complete control over it - including posts, articles, images, etc.
Monetize your content on-chain using NFTs or other dapps. Come up with your own unique monetization methods.
Interoperability - Users can take their data and migrate it to other platforms. They can carry their on-chain data anywhere on-chain.
Security - because smart contracts are secure by default - You can’t hack a blockchain.
Privacy - because the code is public and Singularity is the limit.
Users become the owners and governors of the platform - Crypto economic game.
End to end encryption and send tokens to each other in Messages like OpenChat - Oc.app
Censorship resistance - because tampering ledger can be costly.
NFT gated rooms for holders.
Build a super cool feature and tokenize it or claim a bounty.
These are just the tip of the iceberg because we are yet to witness this in practice, meaning more room for innovation and iteration. When you build on the cloud, the data is in the hands of the corporate cloud providers that can shut down or de-platform anyone they don’t like. Better yet, slowly manipulate the users with cutting-edge AI-powered surveillance and data mining to milk more profits.
But Cat What about Ethereum dapps, they’re decentralized… Right?
Building on Ethereum means building the software on the Cloud Servers that interacts with the Ethereum blockchain via the backend. The front-end of almost all Ethereum Dapps are hosted on the cloud; it gets worse… around 60% of Ethereum’s nodes are hosted on the cloud. If I was working in some corporate cloud company, I could take your keys as well I guess.
Meanwhile, DFINITY’s Internet Computer Protocol is hosting everything on-chain, and it also has its state-of-the-art self-sovereign digital identity system used by several thousand individuals. The network can be upgraded with new cryptographic protocols through its open-algorithmic on-chain governance system called Network Nervous System.
Users can directly interact with the blockchain as long as they have the internet up and running, provided nodes are directing them via HTTP Calls
It’s called the Internet Identity and it is pretty easy to set up.
It really does have the potential to bring an end to usernames and passwords.
The Internet Identity blockchain authentication system enables you to sign in securely and anonymously to dapps on the Internet Computer.
There are already multiple decentralized social media applications building and running on-chain. You can find the dapps building on ICP below
It costs 5$ to Store 1 GB of Smart Contracts data on ICP for a year.
All thanks to ICP being able to host everything on Layer 1 [on-chain] by scaling infinitely, and still being accessible to newer participants due to its reverse gas model, where users don’t always need tokens to interact with the blockchain or smart contracts.
You can build almost anything on-chain. IMO, Singularity is when Metaverse intertwines with the real world.
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good hope also post in DSCVR
Utopia p2p ecosystem seems to be the first web 3 project as it exists for several years already. It's blockchain based and it's main aim is to provide full anonymity to its users and the set of functions collected in one place. It also has own Crypton privacy coin and decentralized no KYC exchange https://crp.is/