Topic: Genesis - SocialFi's Best Infrastructure (Read 51 times)

DeFi, NFT to GameFi, blockchain technologies have landed and various models have started to emerge. Following the explosion of GameFi and NFT, the concept of SocialFi is also becoming appealing. The shift from Web 2.0 to Web 3.0 will also bring a new trend, which might be SocialFi.

What is SocialFi? SocialFi, referring to two aspects, i.e. Social+Fiance, and the scenario of its combination is all on the blockchain. SocialFi has the characteristics of decentralization, openness and user self-control.

In the era of Web 2.0 major social operators control the data of users and they use them to keep profiting while the users can do nothing about it. Data leakage, inappropriate algorithmic recommendations and many terms and conditions that go against the user's wishes make users suffer. SocialFi solves these problems of traditional social networking in a targeted way.

SocialFi helps users solve their problems in three ways.

Data rights ownership.

In traditional social networking platforms, all social data of users are stored in the form of fields on the server of operators, and the data belongs to the platform; SocialFi's immutability is helpful to solve the problem of user data rights.

Benefit distribution.

Under the algorithm mechanism of traditional social platforms, there is an unbalanced distribution of benefits between users and platforms in traffic realization, which is not conducive to protecting users' rights and interests; SocialFi, on the other hand, solves the problem by users gaining revenue from their own social, with no third-party platform.

Privacy and security.

All users' accounts in traditional social are authenticated by KYC process, and the real information of users is stored in the backend of operators, which is easy to cause information leakage, while SocialFi is based on blockchain technology to anonymize users' identity, which can protect users' privacy and security.

How to SocialFi in Web 3.0 is the next to think about.

People expect a new social way to adapt to metaverse, but the virtual scenario of metaiverse to achieve at present is very difficult, in conditions of less advanced technology and in other aspects. The decentralized world also has an evolutionary path that needs to meet the above conditions so that metaverse can explode and be achieved more easily.

Web 3.0 also allows the network to deepen from a single interconnection to sticky contact and deep interoperability. The requirements for infrastructure are more strict since instant experience requirements are faster. Higher efficiency, faster TPS, and more data processing requirements require stronger infrastructure, and the emergence of Genesis seems to be a clever solution to this problem.

Genesis might be one to truly make SocialFi a reality.

Genesis has not only 300 times TPS than Ether, but also only 1/1000 of the cost of Ethereum. On the basis of that, Genesis also carries the cross-chain interconnectivity like Polkadot, interoperating with all the blockchains, which is truly a "decentralized operating system".

Genesis, as the representative of blockchain 3.0, is committed to realize the comprehensive implementation of metaverse, and Genesis has created the world's first blockchain + metaverse on-chain platform, which allows the organic combination of business and financial ecosystem, and carries the IoT, DAOs and metaverse.

In the future, we could shop, socialize, or whatever we want to do in an efficient, fair, and trustworthy business ecosystem based on Genesis. It could be another new world then!