DeSoDeSo Blockchain announced they have surpassed 1.5 Million accounts created on their network

The DeSo blockchain (and the DESO cryptocurrency that powers it) aims to make social media an open utility for all rather than a privately-held monopoly for the benefit of some. In the same way that Bitcoin’s decentralization has sparked transformation within the traditional financial system, DeSo will enable fairer models of content distribution, provide new ways for hundreds of millions of social media users to interact, and serve as a foundation for a decentralized social media ecosystem.

On March 28, DeSo Blockchain announced they have surpassed 1.5 Million accounts created on their network. The DESO coin was up +30% on the news according to CoinGecko. This milestone comes at a time when one of the most influential individuals on the planet is tweeting about decentralizing social media.

The DESO crypto acts as a native utility token of the Decentralized Social protocol, and its total and maximum supply are 10.8 million tokens. According to CoinMarketCap data, the circulating supply of the DESO crypto is approximately 8.9 million DESO tokens. 

It is often alleged that large social media companies control public discourse and make huge profits while content creators remain underpaid. The Decentralized Social blockchain was created to end this, and it treats social media content as a public utility, and it is accessible to everyone.

The DESO chain integrates a person-to-person financial system with virtual currencies and makes it an efficient, scalable infrastructure. The protocol claims to support numerous apps built on its blockchain, including names like Pulse, Polygram, and Supernovas.

"The first thing people need to realize is that social graphs and content should be stored on blockchains. The second is that to do this at scale, dedicated blockchains are needed," said Alex Valaitis, Head of Strategy and Operations at DeSo.

Whether or not DeSo will emerge the winner remains to be seen. But what is clear is that the opportunity is massive and some big names are taking notice.

Elon Musk recently ran a Twitter poll asking if Twitter's algorithm should be open source. 82.7% of the 1 million participants responded with 'yes'. A quick click into Elon's replies saw people urging him to build his solution to address this problem. However, that may not be necessary with the announcements that DeSo is making this week.

On top of the 1.5 Million accounts created, DeSo is also announcing an exciting upcoming update to their consensus model from Proof of Work to Proof of Stake, as well as a new platform for launching DAOs called DAODAO.

"With these new updates, we move closer to a world in which social media is not controlled by three centralized companies, but instead, is owned by the users and creators of the network," said Nader Al-Naji, the Founder of DeSo.