Wordcel is creating decentralized Layerθ Social Networks for our Digital Lives, and it is the primary driver of online conversations around the world.

Introduction

Today, social networks are the primary drivers of online conversations all over the world. Twitter and Instagram serve as the Town Square, while blogging platforms serve as newspapers, YouTube serves as the Box Office, and WhatsApp serves as the telephone company. These networks have served as the foundation for various cultures, communities, information sharing, and human connections in general.

Their meteoric rise has had societal consequences. These centralized social networks have recently increased their restrictions on online behavior, resulting in users being “shadow-banned,” suspended, or even permanently removed. Of course, there is no recourse or accountability.

That isn’t all. The content you consume is also controlled by centralized social networks. They mine data, decide what you consume, your opinions, the clothes you buy, the president you vote for, and how you meet new people and communicate with old ones. They deprive people of the ability to control, choose, and enjoy their social lives as they see fit.

Why Decentralize Social Media?

To understand how to build a decentralized solution that solves their current problems, they must first understand why users would want to switch in the first place.

• User-generated content dominates social media. However, the content is monetized as if it is owned by the platform, which explains the platform’s high take rate. This is where incentives diverge. Where users should profit, they instead become the product.
• Platforms also secure the network and construct walled gardens. Because different web2 social media applications cannot interact with one another, you must build your social graph from scratch for each application. It makes no difference if you have 10,000 Instagram followers. Your Twitter follower count will remain at zero.
• Because of this lack of composability, identities and networks have become siloed across multiple platforms, making managing social personas a major headache. Your Instagram personality is distinct from your Twitter personality, which in turn is distinct from your BeReal personality. Different content sharing mediums that are incompatible with one another have resulted in identity fragmentation and the need to maintain each one according to the medium’s rules and algorithm.

Building a New City

Recognizing that the majority of their money is digital defines the last decade. This decade will emphasize the fact that not only are their financial lives digital, but so are our social lives as well.

But how does that world look in the post-Web2 era? To achieve mass adoption of web3 social media, the following questions must be answered:

• Can the technology reliably scale?
• Does it ensure true ownership? Ownership here is defined as comprising an option to exit, monetize and be uncensorable.
• Can the user experience be on par with the web2 counterparts?
• Do all the actors have aligned incentives?

They are attempting to answer these questions by developing a protocol that allows applications aligned with this vision to conduct a Proof-of-Concept and build those network effects, as well as developing two new applications (Wordcel and Chirp).

A Unified Social Interface

They must create a Decentralized Social Networking Protocol in which everyone has open access to the network, restoring power to the people. This becomes the Layer Zero of Information Sharing online.

A Decentralized Social Network fundamentally alters how they think about identities and distribution. All of the popular platforms today are incompatible with one another, resulting in siloed identities and networks across platforms. They can change this with web3.

The easiest analogy is to think of this as UPI for Social Networks.

UPI, or Unified Payments Interface, is a real-time payment system. The interface enables inter-bank peer-to-peer and person-to-merchant transactions. UPI allows us to access our money regardless of the bank account or application we use (PhonePe, Google Pay, Paytm etc.).

If you don’t like PhonePe, you can switch to Google Pay and still send/receive money. However, if you dislike Twitter or Instagram, you cannot switch to another app because the data, such as your social graph, identity, and so on, do not follow you.

Their protocol enables a composable world in which this is possible for social media.

A Post-Web2 Social Network

A Web3 world shifts away from centralized servers and toward an open protocol with composable applications built on top and data stored on-chain.

This provides a user with a true identity that can be use to access multiple applications built on top of a single protocol with a composable social graph and content. This allows for a more holistic social experience, which is what an ideal Town Square should provide.

This also allows developers to freely build social applications on top of the protocol, allowing them to innovate in ways that were previously impossible. They are not developing for Crypto Twitter, but rather for Crypto Github.

• Web1: You had one self-hosted personal website with content including blogs, podcasts, short videos, and long videos.
• Web2: Hosting is now taken care of by centralised parties and your identity now consists of all your social media profiles but not composable with each other.
• Web3: All the data is on-chain under one protocol and your identity can be use to access multiple apps or a single app, composable with one another.

About Wordcel

Wordcel, a blogging platform on Solana that uses Arweave to store content. Enables anyone to publish rich articles on the blockchain that are censorship resistant.

Website | Twitter

SOURCE

https://www.wordcelclub.com/wordcelclub.sol/layer0-for-decentralized-social-networks

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Wordcel announced its integration with Bundlr to permanently store its data, including article data, on Arweave via Bundlr.

Partnership Highlights

Wordcel’s platform provides decentralized publishing, which enables creators to publish their articles on-chain.

Furthermore, Bundlr makes web3 data storage accessible by making it as fast, easy, and reliable as traditional data storage. Its goal is to allow everyone both in and out of web3 to benefit from decentralized, permanent data storage.

One of the reasons Wordcel was created was to protect authors against censorship. Building the platform on Solana was just one of the ways the company ensured that its author’s words and beliefs were protected with blockchain technology.

While building on-chain is a powerful way to protect users from censorship, many forget that data storage is equally important. Many web3 platforms store their data on centralized solutions such as AWS. This puts the users’ data at risk of being hacked, deleted, and most importantly, censored.

With a centralized entity, you are trusting a company to give you access to your data. Although rare, it’s possible for a company to deny access to your accounts or change permissions to make it more difficult to make account changes. This is much more common on social platforms than it is for data storage, however, it still is possible.

By storing its data on Bundlr, Wordcel is not only protecting its users from data deletion but also censorship.

Management Quotes

“Where you store your data is as important as how you build your solution. Decentralized, permanent data storage on Arweave via Bundlr was the only solution that would protect our users and their work,” explains Shek Dev, founder of Wordcel.

“Bundlr has been actively fighting against censorship,” says Josh Benaron, Founder and CEO of Bundlr. “We actually are working on a new product, Heroes of History, that strives to protect the voices of people around the world. We believe in what Wordcel is building, and are thrill to be working with them.”

About Wordcel

Wordcel, a blogging platform on Solana that uses Arweave to store content. Enables anyone to publish rich articles on the blockchain that are censorship resistant.

Website | Twitter

About Bundlr Network

Bundlr makes web3 data storage accessible by making it as fast, easy, and reliable as traditional data storage. Their goal is to allow everyone both in and out of web3 to benefit from decentralized, permanent data storage.

Website | Twitter

SOURCE

https://www.wordcelclub.com/bundlr.sol/wordcel-integrates-with-bundlr-to-permanently-store-its-users-dataandnbsp

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Marginfi will be using Wordcel Club for their long-form communications with their community going forward! Wordcel is a blogging platform on Solana that uses Arweave to store content.

Marginfi partnership with Wordcel takes flight today as they give a highly anticipated alpha on their beta launch!

Check out their mainnet announcement here ▶ https://www.wordcelclub.com/mrgn.sol/mainnet-alpha

Introduction to marginfi

marginfi is a decentralized portfolio margining protocol for trading on Solana. The protocol gives traders a unified account to access margin, compose a portfolio, and improve capital efficiency across underlying trading protocols.
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Using marginfi’s infrastructure, traders can manage margin across currently-closed trading ecosystems and specify custom exposure to derivatives, exchange arbitrages, delta-neutral trading strategies, cash-and-carry trades, or options arbitrages.

Rebalance your portfolio on the upside, remove single protocol liquidation risk on the downside, and compose a complex portfolio with products at the best prices across Solana DeFi.

About Wordcel

Wordcel, a blogging platform on Solana that uses Arweave to store content. Enables anyone to publish rich articles on the blockchain that are censorship resistant.

Website | Twitter

About marginfi

marginfi, a decentralized margin protocol for trading across Solana. In a world where DeFi markets are exploding in numbers, marginfi makes it easy for traders to access margin, manage risk, and improve capital efficiency across the entire Solana ecosystem from one unified place.

Website | Twitter

SOURCE

https://www.wordcelclub.com/wordcelclub.sol/wordcel-x-marginfi

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