Social Decentralized Applications (Dapps) Surged by 105% Year-Over-Year in 2022

According to TradingPlatforms.com, the number of social Dapps rose by 105% year-over-year, suggesting a growing interest in the use of blockchain technology in the social media sphere.

Edith Reads, TradingPlatform’s financial journalist commented on the findings, “It’s no surprise that the number of social decentralized applications is on the rise. People are becoming increasingly concerned with how centralized networks are using their data, and they want greater control over it. Decentralized platforms offer users that security and privacy they’re looking for.”

Dapps are software applications built on blockchain technology, making them decentralized and transparent. They operate on a peer-to-peer network, where users can control their data and participate in decision-making. This has led to increased demand for Dapps in social media, which centralized platforms have traditionally dominated.

The advantages of Dapps for social media are many. For instance, they offer greater privacy and security, which users are increasingly concerned about in a world where personal data breaches are becoming more frequent. Dapps are also censorship-resistant, meaning no central authority dictates what content can or cannot be shared.