This Monday, Tom Fiske, Immersive Industry Analyst reported that the web3 DSCVR social network has approximately 14,089 daily active users. The total is remarkable given that DSCVR is home to approximately 150,000 subscriptions. In these terms, the registration number means that the DSCVR service is the largest Web3 service currently available.

Daily users may initially seem low compared to traditional social networking or Web2 services. Although, in the emerging Web3 landscape, DSCVR’s numbers are remarkable when compared to alternative blockchain-powered social media services such as Farcaster and Lens.

the DSCVR Executive Director Rick Porter, believes the growing user base and sign-up numbers indicate that audiences want an alternative to traditional social media platforms from firms like Meta and Snap Inc.

Additionally, in May, social media stocks fell across the board, sparking a lot of speculation about the future of many major social media platforms.

Overall stock declines included major industry players such as Meta, Google, and Snap Inc. The broader market decline is forcing affected companies to lessen their overall focus on immersive extended reality (XR) products.

For example, Meta has abandoned and reduced production of several of its upcoming immersive products. Ahead of Meta Connect 2022, the Menlo Park-based firm canceled an XR watch, smart glasses, and headphones. Additionally, Snap significantly reduced its focus on immersive hardware, halting production of its Pixy XR drone just months after its debut.

In addition, Porter believes that other factors, such as large corporations and a lack of transparency, lead people to turn to alternative Web3 services, like his.

added:

Users are looking for an alternative to traditional social networks and Web3 provides us with the ideal infrastructure [DSCVR] to do this.

What is DSCVR and what makes it a Web3 service?

DSVCR is a decentralized social content platform that attempts to give full control to its users through a blockchain-based community infrastructure. Users can host a custom “portal” that works similar to a web forum to host dedicated content shared through posts, such as NFTs, images, and comments.

The Web3 service wants to redefine the structure of modern social media platforms by allowing users to take control of the site through earned governance rights and digital tokenization.

The Web3 service allows users to gain the right to vote on the future of DSCVR as a product, influencing decisions such as new features. Platform users earn “governance rights” as they interact with the platform, allowing them to vote on the site’s roadmap.

DSCVR grants governance rights depending on how active a user is on the platform. For example, DSCVR users can earn rights by receiving upvotes on posts, comments, and custom portals.

The platform employs digital tokens to distribute its governance rights. DSCVR uses two separate tokens to represent socially driven metrics. Tokens give the most valuable and dedicated community members the ability to help on the product roadmap.

A diagram showing how DSCVR divides up its token distribution system for its user base PHOTO: DSCVR

DSCVR distributes social and service tokens through its infrastructure to allow dedicated users to gain influence on the platform based on their engagement.

• DSCVR distributes social tabs based on a user’s platform participation. The tokens allow the awarded users to make decisions based on improving the user experience of the service.
• Alternatively, the platform gives service tokens that DSCVR awards based on a user’s financial contribution. Service tokens allow active funders of the platform to provide financial contributions for the future of the platform.

DSCVR allows users to engage in cryptocurrency and NFT trading through its ecosystem of community-driven social posts.

What is driving the DSCVR infrastructure?

DFINITY blockchain experts are powering the DSCVR service by integrating their public blockchain infrastructure to enable a secure and efficient network for the social platform.

The company employs its Network Nervous System (NNS) to enable a secure distributed method for DSCVR operations. NNS promotes scalability and efficiency without reducing the speed, security, and sovereignty of a decentralized network.

In addition, the NNS blockchain is climate-friendly and the IT infrastructure required to operate the network is much more efficient.

An example of NNS climate efficiency PHOTO: DFINITY

Compared to other platforms, DFINITY’s NNS service is incredibly efficient. Provide various services like Distrikt and OpenChat with decentralized network building blocks.