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October 3, 2022

USDC To Integrate DeSo For Web3 Promotion

Social media is currently managed by a small group of privately held companies; however, this may soon be about to change as blockchains like DeSo begin to integrate millions of Ethereum users from decentralized financial applications into social apps.

A USDC interface with the DeSo blockchain, which is funded by Coinbase, Sequoia, Andreessen Horowitz, and others, essentially gives every Ethereum user access to a fully-fledged decentralized social network. This is one of the industry’s first examples of this concept, and it is one of the first demonstrations of this concept ever.

Through this connection, millions of MetaMask and Ethereum users will be able to join decentralized social applications powered by USDC. They communicate with one another using gas-free end-to-end encrypted on-chain messaging that is provided by DeSo, and onboard into decentralized social apps.

But that’s not all; users of Ethereum also have access to gas-free profile creation, gas-free publishing, gas-free following of other users, as well as a completely decentralized on-chain, follow graph, and a great deal more besides.

The onboarding procedure is straightforward. Users may deposit USDC through MetaMask into DeSo applications, at which point they will be credited with a DeSo-native stablecoin known as DesoDollar. When integrated with USDC, all transactions using stablecoins become almost free of transaction fees. This amounts to less than one one-ten-thousandth of a penny.

In addition, this financial bridge between Ethereum and DeSo will make it possible for developers to create web3 social applications for the very first time. Existing blockchains are not capable of storing material in an effective manner, according to Nader Al-Naji, the company’s creator.

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Diving Deeper

The cost to store a Tweet of 200 characters on Ethereum is around fifty dollars. Whereas the cost to store the same Tweet on Solana. Avalanche or Polygon too is approximately fifteen cents. In comparison, one unit of DeSo costs one ten-thousandth of a penny. This makes it the first blockchain with the capacity to challenge storage-intensive applications such as social networks, according to him.

Although DeSo only supports USDC through Ethereum at the moment. The company has future ambitions to connect with other stablecoin ecosystems like Solana. For the time being, however, DeSo only accepts USDC via Ethereum.

According to Al-Naji, being confined to a single chain is not their primary objective. DeSo is a cross-chain solution that enables individuals to interact with one another regardless of the ecosystem in which they are currently participating. According to him, DeSo is the social layer that unifies everything about web3.

USDC and DeSo claim to provide a decentralized solution that can finally compete with web2 juggernauts. In a world where many people are unhappy with conventional social media. According to Al-Naji, DeSo is the first and only blockchain that enables developers. To create social applications where you can’t even know you’re on a blockchain.

DeSo is the first and only blockchain that allows developers to build social apps. What this implies is that for the very first time. They have a chance at finally moving web3 from its current role. Which is of disrupting the banking business to its current role of destabilizing the trillion-dollar social media industry.