Ever wanted to run your own twitter-like microblogging platform, on the blockchain? Building a blockchain based microblogging platform is now possible!
Did you know? A microblogging platform built on a blockchain can help you monetize every aspect of the platform. Right from charging users for posting credible content to accepting advertising.
- You own the Content You decide your content. There is no censorship imposed and so nobody can delete your data
- Decentralized – The platform is decentralized and it is distributed across the world. Technically, there is no single point of failure.
- Low-cost infrastructure – Blockchain makes it easy for projects to scale quickly without the hassles of huge investments or complicated technology.
- Spam Control– To publish or post, a user must need to have Ether in their wallet. This would ensure that the community of users doesn’t publish spam.
- All accounts could receive donations in the form of Ether (tokens of Ethereum). It helps run the system smoothly
- You could charge brands to send out promotional content.
- Advertisers can reach out to Influencers for publishing sponsored content, they can use the platform’s token to pay them directly.
- A percentage of all the transaction would go to the platform owner.
- Users who need to publish content would pay to post the content.
- Privacy Personal messages can be encrypted. It safeguards privacy. Stored messages too can be encrypted and the keys to decryption again are your property.
- Moderated by Community Content that would otherwise be offensive or contains hate speech would be moderated by the community.
- Monetization The platform has multiple models of monetization built into it.
Frequently Asked Questions (FAQs)
- When a new transaction is initiated in the network, it is broadcasted to all nodes
- Each node validates the transaction for its newness, if found genuine it adds it to an existing or a new block by solving the block’s proof-of-work
- On successful addition of the transaction to a block, the node broadcasts the creation which when accepted by all nodes gets added to the chain of blocks
- Nodes start to work on the new block and a new transaction and use the previously accepted block’s hash as the reference. This way the blockchain is created
It is a communication protocol used to transfer data and other electronic files over the internet. BitTorrent supports peer-to-peer data sharing.
- A peer is any computer connected to the internet and implements BitTorrent protocol for file sharing
- A peer first creates a small file called torrent and this file contains only the metadata of the files to be shared and the tracker (a computer that coordinates file distribution) information
- The peers accessing these torrents will be directed to the tracker which holds the information of the source.