Crypto Academy Season 2: Week 5 – Centralized and Decentralized Social Media – by @yousafharoonkhan

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What is a Centralized Social Media Platform?

My Definition

Based on my opinion, a centralized social media platform is a social media platform that is owned, controlled and governed by a singular company who make all the rules and make all the decisions without the users input. A centralized social media platform decides what happens, what changes to make and how the platform is run by the company that owns the social media platform. Facebook, Twitter, Linkedin, TikTok, Youtube are all centralized social media platforms.

Benefits of centralized social media platform

• It is much faster to implement changes
• It is easier to eliminate abusive accounts
• Scam accounts can be banned and deleted faster

What is a Decentralized Social Media Platform?

My Definition

Based on my opinion, a decentralized social media platform is a platform that is governed and controlled by the users of the platform in decentralized way. This means that users make the rules and decide what happens on the platform, the rules and make decisions on the platform. A decentralized social media platform is mostly run on blockchain technology. In a decentralized social media, the users have an input and make decisions on the platform.

Benefits of decentralized social media platform

• The power, rules and decision making is on the users
• It cannot be taken down because it runs on the blockchain
• Censorship resistance and contents cannot be deleted

Difference Between Decentralized and Centralized Social Media Platforms

• On decentralized social media platform, your posts cannot be censored. While on centralized social media platform, your posts can be censored.

• On decentralized social media platform, users have full control and ownership of their contents. While on centralized social media platform, users do not have full control and ownership of their contents.

• On decentralized social media platform, the decisions and affairs of the platform is made by the users. While on centralized social media platform, the company makes all the decisions.

• On decentralized social media platform, all contents is stored on blockchain. While on centralized social media platform, all contents is stored on the company servers.

• On decentralized social media platform, users’ information is safe and cannot be sold. While on centralized social media platform, users’ information is not safe and can be sold.

• On decentralized social media platform, user accounts cannot be taken down. While on centralized social media platform, user accounts can be taken down.

• On decentralized social media platform, users have full control and ownership of their contents. While on centralized social media platform, users do not have full control and ownership of their contents.

Which One is The Future of Social media?

In my opinion, the future of social media lies on decentralization. Decentralized social media is the future as blockchain technology continues to grow and people continue to see the benefits of blockchain technology. If social media is decentralized, there will not be censorship and users will have full control of their contents. Also, users information will not be used for adverts.

Why Steemit decentralization social media is better than Twitter and Facebook

• On Steemit, users have full control and ownership of their contents. While on Facebook and Twitter, users do not have full control and ownership of their contents.

• On Steemit, user accounts cannot be taken down. While on Facebook and Twitter, user accounts can be taken down.

• On Steemit, your posts cannot be censored. While on Facebook and Twitter, your posts can be censored.

• On Steemit, the decisions and rules of the platform is made by the steemit users. While on Facebook and Twitter, the company makes all the decisions and rules.

• On Steemit, all contents is secure and stored on blockchain. While on Facebook and Twitter, all contents is stored on the company servers which can be hacked.

• On Steemit, users’ information is safe and cannot be sold. While on Facebook and Twitter, users’ information is not safe and are sold.

How Steemit social media platform changes the lives of Its users

Earning a living and personal development

For me, steemit has been beneficial because it has helped users to earn a living from their passion of writing and also in the aspect of personal development.

I love writing and steemit has been a great platform for me to earn rewards as steem and SBD from writing and giving value to the community and the rewards can be used to pay their bills like utility bills, health services bills, buy food, pay their house bills, buy internet services, and pay for products and services.

Also, steemit has helped its users become better at writing and also helped users learn new things everyday which helps in personal development

How users can make money with Steemit's decentralized social media

• Creating contents
• Voting contents
• Participating in contests
• Selling products and services and receiving payments in steem/SBD

Creating a community on Steemit

• To create a community on steemit platform, you must first have a steemit account. Login to your steemit account and visit the homepage of steemit.
• Click on the explore communities link

• Next is to create a community

• Fill in the details of the community you want to create
• Click on next

• Save your community owner key (very important)
• Click Create community

• You will have to pay 3 steem to complete the setup process

• Use keychain or your active key to approve
• Confirm account create – Click on OK
• Done
• Get started to see your newly created community

Conclusion

With the rise of decentralized social media platform like steemit, there is no doubt that we are heading to the right direction. Centralized social media platforms have shown that it is all about profit rather than user experience. Decentralized social media is still in its early years but so far, there is a lot of positives and potentials that makes it a better option.

Task Post for @yousafharoonkhan