Top 5 Blockchain-Based Social Media Platforms

January 17, 2020   Ethereum

Most of us are probably looking for alternatives to the likes of Facebook and Instagram that have lost their faces to corporate greed. So, here is the list of Top 5 social media platforms that run on a blockchain. And the best thing is that they actually reward users with cryptocurrencies.

Steemit


Steemit is a social media platform that has been built on the foundation of Steem blockchain and launched in March of 2016. It is one of the first blockchain-based websites where talented content creators can earn cryptocurrency for publishing high-quality content. There two types of cryptocurrencies that exist on this platform. The first one is called Steem, and it is the bedrock of the entire blockchain ecosystem; the second one is Steem-backed Dollars, which is an intra-platform currency that users earn for their content-making efforts.

The platform works in the following way: the user published a post on his personal Steemit blog, then his followers or random visitors upvote this post, with each upvote being converted to a certain amount of Steem-backed Dollars, depending on the “voting power” of a upvoter. The content can be upvoted for a week, after which the funds are being divided into two parts: one goes to the Steem wallet which powers up the account to give it a better status and visibility, the other one gets allocated in the Steem-backed Dollar wallet, the content of which can be easily converted to other cryptocurrencies via such services as BlockTrades.

APPICS


This is another social media platform that is being powered by the Steem blockchain. It is still in development, but the interested bloggers, influencers, and other social media lovers can already apply for early access. APPICS will be released in the form of a mobile application that should bear a lot of functional similarities with the likes of Instagram, which places specific emphasis on visual content. The revenue-sharing model of APPICS is quite similar to the one implemented on Steemit: a content creator gets 65% of all funds in crypto tokens, generated by his post; 25% goes to the so-called curators - the users who upvote the content, thus there is a kind of cashback; the remaining 10% is going back to the platform as a form of a maintenance fee.

Indorse


If Steemit and APPICS are somewhat reminiscent of Facebook and Instagram, Indorse has a lot of similarities with a well-known social media platform for professionals called LinkedIn. There is an interesting twist to this platform as newly registered users must add their real professional achievement (skills, experiences) to the profile, which then should be confirmed (endorsed) by other users. Once the listed accomplishment has been successfully verified, both the profile owner and the endorsers get crypto tokens called Indorse Bucks.

Sola


The most exciting feature of Sola is that there are no followers or reputation on this social media platform. The users have to prioritize the content in the feed, and then endorse the posts they like most by clicking on a corresponding card. The supported publications are then being shown to the broader audience, while both publishers and endorsers get rewarded with SOL tokens.

Mamby


The main purpose is Mamby is quite interesting, as this blockchain-based social media platform has been created to counteract such a phenomenon as fake news. It is powered by the proprietary AI to offer users only the content that they are interested in. The popular content creators are being rewarded directly in Bitcoin. The Mamby community isn’t massive yet, so there is an excellent chance to become an influencer.

Author: Alex Paulson for Crypto-Rating.com
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