As I’m sure we are all aware, OnlyFans recently announced they will be restricting explicit sexual content as they roll out new regulations. Besides not being able to get your fix of feet pictures from your favorite supermodel… Why does this matter? Well, it shows how much control these centralized networks have over creators and invites an opportunity for decentralized platforms to gain light.
Below we will be exploring the differences between Centralized and Decentralized social media networks:
What are Decentralized Social Networks?
Decentralized social networks operate on independently run servers, rather than a centralized server owned by a business or corporation. This means that when a creator posts content, it’s unchangeable by the business or corporation running it.
For example, Only1, a social media platform that runs on the blockchain allows data entries to be stored in servers anywhere in the world. It fosters transparency, as the data can be viewed in real time by anyone on the network. Decentralized social networks also give users more control and autonomy. An individual can set up their social network and determine how it operates and what users can say and upload. Users on decentralized social media networks have the freedom to interact however they wish without censorship as the developers usually only provide guiding rules, leaving the rest to a distributed group of users.The best part is decentralized social networks allow creators to monetize and earn tokens equivalent to major cryptocurrencies. So, there is a growing marketplace for selling “products’’ (such as NFTS) in exchange for crypto.
Personal Data, Privacy and Security
Users’ content on a decentralized social network falls into a category called “data controller”. Data controller means that users own their own data. Thus allowing creators complete control over their brand and content allowing them the luxury of complete creative freedom. Decentralized social networks have provided another answer to data privacy and security. On federated social networks, users can create accounts without having to link to real-world identities, like email addresses or phone numbers. Furthermore, these networks often rely on public-key cryptography for account security, rather than relying on a single organization to protect user data.
Economic neutrality is an essential ideal for many who turn to decentralized social networks who wish to liberate themselves from invasive advertising and the risk to privacy it poses. Federated networks look to new forms of monetization to remain solvent. They often use a form of digital currency, to keep operations running. For example, Only1 pays its users for creating or curating intriguing content in $LIKE, which incentivizes content creators to focus on quality. Only1 gets its money from investors who believe the platform will grow in value over time and will one day be profitable.
Centralized Social Networks
In a centralized social network, there is one central repository of data and one central rulemaking authority. In order to understand this conceptually, let’s take the example of OnlyFans. Users pay to use the social network, and in exchange for that “privilege,” they then make their data available to OnlyFans. All data from all users are then stored on OnlyFans servers, and OnlyFans can determine who gets access to that data (i.e. advertisers or app developers). Moreover, OnlyFans HQ is the central rule making authority — as a user or developer, you can ask OnlyFans to make changes, but the only way an algorithm will get changed or a privacy setting will be altered is if the corporation agrees with the decision. Algorithms sideline creators based on a system that is generated on requirements, and quite frankly plain luck of the draw. Limiting the creators’ exposure, and putting them at a complete disadvantage at the cost of the system.
OnlyFans has made the decision effective 1 October, 2021 to prohibit the posting of any content containing sexually explicit conduct. In order to ensure the long term “sustainability” of their platform. Creators will continue to be allowed to post content as long as it is consistent with their “Acceptable Use Policy”. What’s daunting about this announcement is that it was publicly stated that Only Fans made this decision “ to comply with the requests of our banking partners and payout providers”. Proving that in a centralized social network model, users and content creators are treated as products, not as partners and are under complete control of the corporation.
Only1 is the first NFT-powered social platform built on the Solana blockchain. Mixing social media, an NFT marketplace, a scalable blockchain, and the native token — $LIKE, Only1 offers fans a unique way of connecting with the creators they love. By using the Only1 platform, fans will have the ability to invest, access, and earn from the limited edition contents created by the world’s largest influencers/celebrities, all powered by NFTs.
The new world of NFTs is here, and it’s being built on Solana. Welcome to Only1.