On July 6, 2023, DeSo, a decentralised social media protocol, issued about one million bounty for building a competitor to Reddit using its usual blockchain, stated Cointelegraph.
“Reddit recently sparked controversy within its community following a decision to limit API access. This move provoked a series of 48-hour subreddit blackouts in protest. This price hike for their API has forced existing third-party developers to shut down as maintaining their applications becomes impossible,” Cointelegraph added.
Sources revealed the decision taken by Elon Musk to impose reading limits on new and verified accounts on Twitter, were “extreme levels of data scraping & system manipulation.” Also, Nader Al-Naji, founder, DeSo, mentioned that there has been a shift where users prefer ownership over social content, as with owning Bitcoin with money, Cointelegraph highlighted.
Furthermore, “These protests represent a broader societal shift. They are indicative of a new paradigm in how creators and users interact with social media,” Nader Al-Naji told Cointelegraph.
(With insights from Cointelegraph)