Former U.S. President Donald Trump announced that he would launch his own social media platform, TRUTH Social. With Trump’s accounts on Twitter and Facebook having been suspended during the last elections, and ongoing claims that Big Tech is suppressing conservative voices, Truth Social platform might want to look out for Web 3.0 solutions to have decentralized hosting and control.
So which are the probable Web 3.0 cloud solutions that could best host the platform?
This article will look at some of the new options being built by crypto developers as part of a broader wave dubbed “Web 3.0.” and are set to offer alternative solutions to the commonly used solutions offered by the Big Tech.
dApps – The gateway to Web 3.0
Should Truth Social go for Web 3.0, they will primarily use decentralized applications (dApps). The platform will have a myriad of supporting applications at its disposal. Some of these continue to be developed and improved and could play a big role in the rollout of Truth Social. The solutions include;
Storj is a leading decentralized storage solution. With Storj, anyone can store data. It is open-source and easy to use.
Filecoin is a project by Protocol Labs and works in a dual approach and uses two types of network nodes. Filecoin protects the data being transferred with strong encryption.
Steemit runs entirely on the Steem blockchain. It is a decentralized reward platform that helps contributors to monetize their content. It is an alternative to Reddit.
Sapien is a democratized social news platform that takes advantage of the Ethereum blockchain. It is highly customizable and an excellent alternative to Google or Facebook when seen from the social news perspective.
EOSFinex is a decentralized exchange that runs on EOS.IO software. It is currently in development by Bitfinex.
IDEX is a decentralized exchange for trading ERC-20 tokens. It provides a suitable interface for users, and anyone with an Ethereum wallet can start trading on the platform.
Obsidian is a Web 3.0 project in development. The platform is based on STRAT and is powered by the Stratis coin. Obsidian provides a secure environment where users can communicate or even send funds to each other.
e-Chat is a decentralized blockchain-powered dApp that offers secure messaging. By using this messenger, the users get absolute freedom and can also send cryptocurrency through it.
LBRY is a decentralized digital library housing different forms of content. Users can read, watch and play on the platform. It supports books, music, and videos.
Livepeer is a decentralized platform that provides an open-source streaming service aiming to build a streaming stack for Web 3.0.
What benefits could decentralized Web 3.0 Cloud solutions offer Truth Social?
Truth Social might want to tap into the benefits of Web 3.0, such as providing privacy and security to users rather than making corporations more powerful than ever. Web 3.0 solutions focus more on the decentralized features that different blockchains have to offer. Some of the benefits include;
Anti-monopoly and Pro-privacy
Web 3.0 solutions will bring a pro-privacy and anti-monopoly structure to the network. However, it will not incentivize centralized platforms.
With Web 3.0 features, users will have full data ownership. Data being transferred through the network will be completely encrypted. Also, users will decide which information they want to share with corporations or 3rd party advertising platforms. With Web 3.0 features, users can now sell their data to corporations and earn from it.
No service interruptions
Distributed systems are less prone to interruptions in service, such as the most recent one on Facebook. In addition, since there is no central entity for functioning, it is hard for a distributed denial of service (DDoS) or other service malfunctions that may have a serious impact.
Web 3.0 solutions and their features will be more secure than their predecessors. This is made possible by their distributed nature and decentralization. As a result, hackers or exploiters will find it difficult to penetrate the network. Also, if they can do so, each of their operations can be tracked and retracted within the network.
Interoperability is one of the important features of Web 3.0. A decentralized network will make it easy for applications to work across different devices and platforms such as T.V.s, smartphones, etc.
The whole idea behind Web 3.0 is to power blockchains that do not need a central authority. Anyone can therefore join the blockchain and participate by just creating an address. Such permissionless blockchains open up new arrays of possibilities, such as access to people who were early discriminated against due to their income, geography, etc.
Web 3.0 will also have the properties of a semantic web. Semantic web is an improvement over the last set of technologies that are currently used for Web 2.0. Semantic web enables data to be shared across multiple systems, platforms, and community boundaries. In addition, it will act as a bridge between different data formats and platforms.
Possible risks associated with Web 3.0 to care of
Vulnerability of integrated data
In Web 3.0, only one account will contain all your personal data and sensitive information. If a malicious person such as a cybercriminal hacks it, they can potentially control your entire life.
Liability issues on Web 3.0 must be addressed since it will be harder to define who owns the data and who will be liable if a breach of some kind occurs.
Web 3.0 solutions could offer great benefits for Truth Social. According to the company’s plans, Truth Social network is set for a beta launch next month and a full rollout in the first quarter of 2022. This will be followed by a subscription video-on-demand service called TMTG+ that will feature entertainment, news, and podcasts. The announcement has elicited a lot of excitement in the blockchain and open-source communities. However, most Web 3.0 solutions are still in development, and many developers are eager to jump into their development. Could Truth Social lead to the need for mass adoption for Web 3.0?