What is Decentralized Social Crypto? DeSo Coin Reaches a Record High

Racakmedia.com – What does it mean when you talk about decentralized social crypto? DeSo coin has reached a record high price, let's read this article to find out about it.

2021 has seen a surge in digital currencies. While some cryptocurrencies have hit record highs, more have been launched on the market after the initial coin offering. Investors also praise digital currencies for the profits they generate.

Although the popular names that come to mind when talking about cryptocurrencies are Bitcoin and Ethereum, there are many meme coins and other digital assets that have gained momentum in the market in recent quarters.

Bitcoin (BTC) is making returns of around 66.17 percent YTD, while Ethereum (ETH) is up 421.57 percent YTD. Decentralized Social Crypto (DESO) is a coin that has recently gained popularity among investors due to the recent increase in price.

Decentralized Social Crypto (DeSo)

To drive the decentralized social crypto Web 3.0 network, a new type of blockchain called DeSo was devised. Developed in 2019, DeSo seeks to overcome the difficulties caused by the centralization of social media through its implementation.

Private social media companies have the potential to take over the public discourse these days while making huge profits. The DeSo social blockchain, on the other hand, views media content as a public utility that can be used by anyone, regardless of ownership.

It combines the idea of an open P2P financial system afforded by cryptocurrencies with an efficient and scalable database architecture designed to provide the next generation of Web 3.0 social networks.

Various application created on the DeSo blockchain, which includes Diamond, Pulse and Polygram among others. Nader Al-Naji created decentralized social crypto in January 2019.

Nader Al-Naji was a software engineer at DE Shaw Group and has since worked at Google, part of the Google Search and Google Ads team, after completing his degree from Princeton University.

In 2017, he raised nearly US$133 million for the launch of an algorithmic stablecoin called Basis. This was before DeSo.

Notably, in October 2021, the Octane Fund, a US$50 million developer fund, was inaugurated by a decentralized social crypto foundation.

All material on DeSo is stored on a decentralized social crypto ledger and is open to a vast and increasing network of independent third-party applications, comparable to DeFi applications on the Ethereum blockchain.

Decentralized Social (DeSo) coin price: DeSo coin was valued at US$$135.93 at 9:12 a.m. ET on December 14, up 41.75 percent. It has a market valuation of US$1.39 billion and a fully diluted market capitalization of US$1.46 billion. The recent 24 hour DeSo volume was valued at US$4.10 million.

The 90-day high and low prices of the DeSo coin were US$439.37 and US$63.99, respectively. It had hit an all-time high of US$439.37 on December 13. DeSo generates a return of 55.09 percent YTD.

Conclusion:

Decentralized Social Crypto (DESO) has recently gained popularity among investors due to the recent increase in price.

DeSo seeks to overcome the difficulties caused by the centralization of social media through its implementation. Coin views media content as a public utility that can be used by anyone, regardless of ownership.

DeSo coin was valued at US$135.93 at 9:12 a.m. ET on December 14, up 41.75 percent. It had hit an all-time high of US$439.37 on December 13. DeSo generates a return of 55.09 percent YTD.