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A USDC integration with DeSo, a new blockchain that has raised $200 million from Coinbase, Sequoia, and Andreessen Horowitz, will launch next week
The integration gives DeSo a financial bridge to millions of Ethereum users and DApps, giving them one-click access to end-to-end encrypted on-chain messaging and a full “Twitter-like” feature set
The integration paves the way for DeSo to become a cross-chain social layer for the entire web3
Today, social media is controlled by a handful of private companies — but that could soon change, as will blockchains DeSo Start engaging millions of Ethereum users from DeFi apps to social apps.
One of the industry’s first examples of this is a USDC integration with the DeSo Blockchain powered by Coinbase, Sequoia, Andreessen Horowitz and others effectively gives every Ethereum user access to a full-fledged decentralized social network.
The integration will enable millions of existing MetaMask and Ethereum users to jump into decentralized social apps with USDC and notify each other with gasless, end-to-end encrypted on-chain messages powered by DeSo. But that’s not all – these Ethereum users will also get access to no-gas profiling, no-gas posting, following other no-gas users, with a fully decentralized on-chain follow graph, and more.
The onboarding process is simple: users can deposit USDC from MetaMask to DeSo apps and receive a DeSo-native stablecoin called DesoDollar. Once USDC is on board, all stablecoin transactions will be virtually gas-free and cost less than a ten-thousandth of a cent.
This financial bridge from Ethereum to DeSo will also allow developers to create Web3 social apps for the first time. “Existing blockchains cannot store content efficiently,” he says Nader Al-Naji, the founder of DeSo. “It costs about $50 to store a 200-character tweet on Ethereum and about fifteen cents to store it on Solana, Avalanche, or Polygon. In contrast, DeSo costs a ten-thousandth of a cent, making it the first blockchain that can disrupt memory-intensive applications like social networks,” he says.
Although DeSo currently only supports USDC over Ethereum, DeSo also plans to integrate with other stablecoin ecosystems like Solana in the future. “It is not our goal to be tied to a single chain,” says Al-Naji. “DeSo is a cross-chain solution that allows people to connect with each other no matter what ecosystem they are part of. DeSo is the unified social layer for the entire Web3,” he says.
This is the latest in a series of achievements for DeSo. The platform, which was listed on Coinbase earlier this year, announced a groundbreaking MetaMask integration last week that caused a significant price increaseand many new social apps like diamonda Web3 social network built on top of DeSo was recently launched and is growing rapidly increase in user numbers.
In a world where many are unhappy with traditional social media, USDC and DeSo offer a decentralized solution that can finally compete with Web2 juggernauts. “DeSo is the first and only blockchain that allows developers to create social apps where you don’t even realize you’re on a blockchain,” says Al-Naji. “It means we have our first chance to finally grow web3 from disrupting finance to disrupting the trillion-dollar social media industry.”
DeSo is a new Layer 1 blockchain built from the ground up to decentralize social media and scale memory-intensive applications to billions of users. They raised $200 million and are backed by Sequoia, Andreessen Horowitz and several others.
$DESO, the native currency of the DeSo blockchain, is listed on Coinbase.
For more information on DeSo and username claiming, see deso.com.
Check out the source version on newsdirect.com: https://newsdirect.com/news/usdc-will-integrate-with-decentralized-social-to-bring-web3-to-the-masses-192584205