USDC Plans DeSo Blockchain Addition to Unveil Web3 to The Masses October 4, 2022 October 4, 2022 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsOctober 4, 2022 by Kelly Cromley

USDC Plans DeSo Blockchain Addition to Unveil Web3 to The Masses

USDC will interface with DeSo, a new blockchain for decentralized social media, to pave the road for DeSo to become a cross-chain social layer for the whole Web3. This connection reportedly provides DeSo, a new layer one blockchain designed for decentralized social media and storage-intensive apps, with access to millions of Ethereum users and decentralized applications. On the other side, these users and dApps will have access to end-to-end encrypted onchain messaging and a whole range of Twitter-like features with a single click.

Several members of the blockchain ecosystem, including Coinbase, Andreessen Horowitz, and Sequoia, have supported the integration. Through this agreement, millions of enthusiastic MetaMask and Ethereum users will be able to join decentralized social media with their USDC assets. Users will have access to gas-free end-to-end encrypted onchain messages, gas-free profile creation, gas-free following of others, gas-free profile creation, a fully decentralized onchain graph, and more.

In addition, the established financial bridge between Ethereum and DeSo will enable for the first time the development of Web3 social applications.

The inventor of DeSo, Nader Al-Naji, commented on the bridge: “Existing blockchains cannot store material effectively. The cost to store a 200-character Tweet on Ethereum is around $50, whereas the cost to store it on Solana, Avalanche, or Polygon is approximately $0.15. DeSo, on the other hand, is one ten-thousandth of a penny, making it the first blockchain capable of disrupting storage-intensive services such as social. He continued, “DeSo is the first and only blockchain that enables developers to create social applications that conceal the blockchain. This implies that for the first time we have the opportunity to extend web3 beyond disrupting banking to disrupting the trillion-dollar social media business.

While DeSo only supports USDC through Ethereum at now, the blockchain intends to integrate with additional stablecoin ecosystems in the coming days.

Al-Naji said, “It is not our intention to be chained to a single chain. DeSo is a cross-chain solution that enables users to communicate regardless of the ecosystem they belong to. DeSo is the social layer for the entire web3.”

The integration follows successful funding rounds in which Coinbase, Sequoia, and Andreessen Horowitz raised a total of $200 million. Coinbase also listed DeSo earlier this year. Last week, the platform also announced an integration with MetaMask, experienced a significant price increase, and saw the addition of numerous social applications to its blockchain.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.