Exploring the Web3 Social Stack: A New Era for Decentralized Social Media

The rise of web3 social networks is ushering in a new era of social media, where users gain control over their data and identities, according to a report by @paragraph_xyz. These platforms promise to disrupt the centralized power structures of traditional social media giants by enabling permissionless innovation and more equitable distribution of wealth and power.

Understanding the Web3 Social Stack

The web3 social stack is structured into four layers: hosting, social primitives, profile, and applications. The hosting layer consists of blockchains and decentralized storage protocols, which support the foundational elements of these networks. Social primitives provide the building blocks for user identities and relationships, while the profile layer allows users to carry their data across different applications. Finally, the application layer consists of user-facing platforms that leverage these technologies to create social interactions.

Farcaster: A Case Study

Farcaster exemplifies the potential of web3 social networks. It is a decentralized social app built on an open social graph, similar to the protocol used for email (SMTP). Unlike traditional platforms like Twitter, Farcaster allows users to choose where their data is hosted, preventing any single entity from gaining excessive control. This open protocol encourages developers to build competing clients, fostering innovation and competition.

Farcaster uses the Ethereum blockchain to create a decentralized registry, assigning each user an Ethereum wallet address mapped to their username, which functions as a non-fungible token (NFT). This ensures that users retain ownership of their identities and connections, even if they switch applications.

The Promise of Decentralized Social Media

Web3 social networks like Farcaster, Lens, and DeSo offer unique advantages over traditional platforms. They enable users to maintain direct relationships with their audiences and allow developers to build applications without permission. This model challenges the current paradigm where centralized companies control user data and interactions.

By allowing users to transfer their social capital across multiple platforms, web3 networks aim to prevent any single application from becoming disproportionately powerful. As the user base grows, value will accrue to the underlying social graph protocols, rather than individual companies, potentially leading to a more equitable digital ecosystem.

While the future of web3 social networks remains uncertain, their potential to reshape the social media landscape is undeniable. As these networks develop, they may provide viable alternatives to the dominant web2 platforms, offering users greater control and fostering a more open and competitive environment.

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