On 24th May, Civic Entrepreneur Frank McCourt’s new drive Project Liberty collaborated with Polkadot founder to Gavin Wood build a blockchain that is fit for putting social media users information so they can claim and control it.
McCourt stated on collaboration that :
“We are excited to work with Gavin and his colleagues to bring our shared vision of a healthier web into reality. Not only are they pioneering innovators, but our values are aligned for how the internet should be restructured in a way that empowers users, benefits society and strengthens democracy.”
The task is made in McCourt’s foundation, which deals with creating moral innovation. Notwithstanding the foundation’s assets, McCourt funded $100 million to the task.
Central platforms like Meta’s Facebook and Instagram as of now store their clients information and design it to match exact advertisements and other substances. This produces new likes and remarks that can be put and handled to match content in the near future.
McCourt and Wood contend that decentralised blockchains are the way to giving full responsibility to clients. They guarantee that no single information store can be constrained by any substance and permit clients to take their computerised information starting with one stage to the another.
Emphasising the Project Liberty’s goal, Wood stated that:
“Web 3.0 needs a universally accessible social graph to be successful, as the Web 2.0 social giants currently have absolute control over what users can say or do on their platforms.”
Perhaps the greatest test the undertaking is handling is adaptability. Huge informational collections slow blockchains down, and no customary chain can work beneficially as an interpersonal organisation information capacity.
Scalability is one of the project’s most difficult issues. Large data sets slow down blockchains, therefore no traditional chain can be profitable as a social network data storage system.
Wood’s Polkadot is building a decentralised Social Networking Protocol (DSNP) to interface different blockchains to boost speed and versatility to tackle the versatility issue.