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A social media-focused altcoin is surging this week after the announcement of a brand new partnership with the favored crypto pockets MetaMask.
Decentralized social media platform Decentralized Social (DESO) rallied to a weekly excessive of $11 at the moment, marking a 102% enhance from its seven-day low of $5.43
The 226th-ranked crypto asset by market cap has retraced because the weekly excessive, however it stays up almost 40% up to now 24 hours, buying and selling at $10.32 at time of writing. Regardless of the slight pullback, DESO continues to outperform all different crypto property inside the high 300 by market cap rating.
The Coinbase-backed layer-1 blockchain venture goals to redefine the character of social media functions by resolving scalability limitations in addition to defending customers and content material creators from centralized authorities.
Decentralized Social’s new integration with MetaMask “paves the best way for DeSo to turn out to be the cross-chain social layer for all Net 3.0,” in line with a press launch from the venture.
Explains DeSo founder Nader Al-Naji,
“Present blockchains can’t retailer content material effectively. It prices about $50 to retailer a 200-character Tweet on Ethereum and about fifteen cents to retailer it on Solana, Avalanche or Polygon. In distinction, DeSo is one ten-thousandth of a cent, making it the primary blockchain able to disrupting storage-heavy functions like social.”
Decentralized Social has to this point operated within the Ethereum (ETH) ecosystem, however the venture additionally plans to increase to Solana (SOL).
Regardless of the beneficial properties this week, DESO stays down virtually 95% from its all-time excessive of $198.68, which it hit in June of 2021.
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Featured Picture: Shutterstock/eva cool
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