The latest announcement about the BitClout had it that the blockchain powering BitClout, and the over 100 apps building on top of it (bithunt.com/explore), will now be known as the DeSo blockchain.
DeSO is an acronym for "decentralized social." According to @DiamondHands in a statement on his profile on BitClout.
Creator Coins have also been gaining as the DeSo clamb new record trading price both on the BitClout and on Blockchain.com and it's exchange. We always had faith a developer focussed fund would be a smart decision over the long term.
Read the Full announcement by @DiamondHands:
BitClout family, today is a very big day for the project. Perhaps the biggest day since we launched in March.
Today, several critical things are happening:
* The blockchain powering BitClout, and the over 100 apps building on top of it (bithunt.com/explore), will now be known as the DeSo blockchain, short for "decentralized social." Check out deso.org!
* We are creating a non-profit called the DeSo foundation that will support the blockchain, and further a broad mission of decentralizing social media.
* The foundation will use a $200 million treasury raised from Sequoia, Social Capital, Andreessen Horowitz, and many others to support its mission. There is also a strategy to support everybody from developers, to NFT artists, to smaller creators and their coins, and we're very excited to announce all of those plans very soon.
Why are we doing this?
For over two years, I've been working on the blockchain that powers BitClout. It's the only blockchain that can scale social apps to one billion users because it's custom-built for this use-case.
This blockchain is the same one that powers the over 100 apps listed on bithunt.com/explore, and it's really something special. But until now, the blockchain didn't have a name, and most people who used these apps didn't even know it existed!
There is an amazing story here about the technology we're developing behind the scenes, so we felt it's time to separate the blockchain out into its own entity and give it its own name: DeSo, short for "decentralized social."
So, from now on, the blockchain that powers BitClout and all the other apps in the ecosystem will be known as the DeSo blockchain. And apps like BitClout will be referred to as "powered by DeSo."
DeSo is a blockchain, BitClout is one of over 100 apps *built on that blockchain.*
Now, with DeSo as its own separate brand, we can speak more directly to the developers that are so critical to growing the decentralized social movement we've started here together.
Developers can also feel more comfortable building on DeSo, knowing that they're getting access to the exact same data and API's that BitClout is getting.
BitClout is now no different and no more special than Pulse, Flick, Polygram, or any of the other amazing projects building on DeSo.
Importantly, nothing changes for users of any apps, except that we're going to call the underlying currency $DESO instead of $CLOUT. The supply is still fixed at ~10.8 million like it was before, and if you had X CLOUT before, you have X DESO now. We're just renaming to distinguish DeSo the blockchain from BitClout the app.
We felt renaming the currency was important to further reinforce that "BitClout the app" is not the same as "DeSo the blockchain."
In addition to this, it has always been our top priority to put a public and transparent support structure in place for the ecosystem, but we were concerned that setting up a formal structure too early would compromise decentralization by creating too much reliance on a single entity.
Now that the DeSo blockchain is running on thousands of nodes, and there are over a hundred projects building on the blockchain, we feel comfortable setting up an entity to formally and officially support the decentralized social ecosystem.
The DeSo Foundation is a non-profit, and it will be using a $200 million treasury raised from some of the top investors in the world to support the DeSo ecosystem.
Expect some big announcements about how we're going to use this treasury very soon!
There is also ..... One more thing....
As you all know, I've been working on this project anonymously for some time now. And during this time we've all achieved so much together, and made so many memories in the process.
But now, as we look to take BitClout, DeSo, and the ecosystem of apps built on it to the next level, we need a public figure that the mainstream can look to for guidance. Someone who can share our vision with the public at a much broader scale than what I'm capable of as a pseudonymous figure. And so, with both excitement and a heavy heart, it's time to pass the torch.
Today, I'm proud to announce that @nader will be your guide through phase 2 of our journey. I hope you'll give him a warm welcome, and that you'll have as much fun with him as I had with you all.
Going forward, @nader will be responsible for leading both the development of the DeSo blockchain, as head of the DeSo Foundation, and the development of the BitClout app.
Announcements about the platform will come from him going forward, and you should all be hearing from him very soon.
Really, it's crazy how much we've all achieved together. And even though our family has only been together for six months, it feels like I've known you all my whole life.
I'll still be around here and there, and even though my time as your leader is over, the journey is just beginning. It's a new era for this project, just don't forget why we're all here:
docs.deso.org
Just like the Bitcoin, DeSO developers remained anonymous.
Read the Full announcement by @DiamondHands:
BitClout family, today is a very big day for the project. Perhaps the biggest day since we launched in March.
Today, several critical things are happening:
* The blockchain powering BitClout, and the over 100 apps building on top of it (bithunt.com/explore), will now be known as the DeSo blockchain, short for "decentralized social." Check out deso.org!
* We are creating a non-profit called the DeSo foundation that will support the blockchain, and further a broad mission of decentralizing social media.
* The foundation will use a $200 million treasury raised from Sequoia, Social Capital, Andreessen Horowitz, and many others to support its mission. There is also a strategy to support everybody from developers, to NFT artists, to smaller creators and their coins, and we're very excited to announce all of those plans very soon.
Why are we doing this?
For over two years, I've been working on the blockchain that powers BitClout. It's the only blockchain that can scale social apps to one billion users because it's custom-built for this use-case.
This blockchain is the same one that powers the over 100 apps listed on bithunt.com/explore, and it's really something special. But until now, the blockchain didn't have a name, and most people who used these apps didn't even know it existed!
There is an amazing story here about the technology we're developing behind the scenes, so we felt it's time to separate the blockchain out into its own entity and give it its own name: DeSo, short for "decentralized social."
So, from now on, the blockchain that powers BitClout and all the other apps in the ecosystem will be known as the DeSo blockchain. And apps like BitClout will be referred to as "powered by DeSo."
DeSo is a blockchain, BitClout is one of over 100 apps *built on that blockchain.*
Now, with DeSo as its own separate brand, we can speak more directly to the developers that are so critical to growing the decentralized social movement we've started here together.
Developers can also feel more comfortable building on DeSo, knowing that they're getting access to the exact same data and API's that BitClout is getting.
BitClout is now no different and no more special than Pulse, Flick, Polygram, or any of the other amazing projects building on DeSo.
Importantly, nothing changes for users of any apps, except that we're going to call the underlying currency $DESO instead of $CLOUT. The supply is still fixed at ~10.8 million like it was before, and if you had X CLOUT before, you have X DESO now. We're just renaming to distinguish DeSo the blockchain from BitClout the app.
We felt renaming the currency was important to further reinforce that "BitClout the app" is not the same as "DeSo the blockchain."
In addition to this, it has always been our top priority to put a public and transparent support structure in place for the ecosystem, but we were concerned that setting up a formal structure too early would compromise decentralization by creating too much reliance on a single entity.
Now that the DeSo blockchain is running on thousands of nodes, and there are over a hundred projects building on the blockchain, we feel comfortable setting up an entity to formally and officially support the decentralized social ecosystem.
The DeSo Foundation is a non-profit, and it will be using a $200 million treasury raised from some of the top investors in the world to support the DeSo ecosystem.
Expect some big announcements about how we're going to use this treasury very soon!
There is also ..... One more thing....
As you all know, I've been working on this project anonymously for some time now. And during this time we've all achieved so much together, and made so many memories in the process.
But now, as we look to take BitClout, DeSo, and the ecosystem of apps built on it to the next level, we need a public figure that the mainstream can look to for guidance. Someone who can share our vision with the public at a much broader scale than what I'm capable of as a pseudonymous figure. And so, with both excitement and a heavy heart, it's time to pass the torch.
Today, I'm proud to announce that @nader will be your guide through phase 2 of our journey. I hope you'll give him a warm welcome, and that you'll have as much fun with him as I had with you all.
Going forward, @nader will be responsible for leading both the development of the DeSo blockchain, as head of the DeSo Foundation, and the development of the BitClout app.
Announcements about the platform will come from him going forward, and you should all be hearing from him very soon.
Really, it's crazy how much we've all achieved together. And even though our family has only been together for six months, it feels like I've known you all my whole life.
I'll still be around here and there, and even though my time as your leader is over, the journey is just beginning. It's a new era for this project, just don't forget why we're all here:
docs.deso.org
Just like the Bitcoin, DeSO developers remained anonymous.
Credit: @DiamondHands and @LetestNewsPlus
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