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.
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[item title=”Why should you start a Blockchain powered Micro-blogging platform?“]
- 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. [/item]
[item title=”How can a blockchain powered Micro-blogging platform make money?“]
- 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. [/item]
[item title=”What are the Features of Blockchain in Microblogging platform?“] Blockchain powered – The platform is powered by blockchain and it’s easy to scale up.
- 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. [/item]
Frequently Asked Questions (FAQs)
[item title=”What is Blockchain?“]The blockchain is a network of nodes (devices with an internet connection). It is a distributed and decentralized ledger technology which was re-introduced to support transactions of a digital asset called Bitcoin cryptocurrency. Now blockchain is used by many industries to implement their online businesses on a trust network like blockchain which keeps track of every single transaction and thus will eliminate redundancy, or duplication.[/item]
[item title=”What are Bitcoin and BitTorrent protocols?“]
- 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.[/item]
[item title=”What is Interplanetary File System?“]IPFS is a peer-to-peer content sharing and storing communication protocol. It connects computers containing the same type of file systems to form a decentralized network. Content stored using this protocol hashed and these hashes are published on the web. Every node holds a copy of the list of hashes of the files containing data. It works similar to BitTorrent except that hashing the content makes it more complex for the hackers to trace the data source. [/item]