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Aave Plans To Roll Out Twitter Alternative On Ethereum

DeFi

www.cryptovibes.com 21 July 2021 06:34, UTC
  
Reading time: ~2 m

Aave Founder Stani Kulechov has hinted that the company plans to develop an Ethereum-based Twitter version later this year.

He posted his vision of a Twitter alternative on Ethereum while replying to Jack Dosey’s comment about his plans to develop a new DeFi platform on Bitcoin.

Earlier, the Twitter Chief Executive Officer noted that he could create a new Bitcoin-based financial service platform that will be an alternative to Aave.

“Since @jack is going to build Aave on Bitcoin, Aave should build Twitter on Ethereum,” he stated.

Giving users more control over their contents

Kulechov stated that the project will be beneficial to users in a lot of ways. He said that it would solve the problems that social media sites have, which include an exploitative pay structure and content censorship.

According to him, such a structure more benefits the platform creators than users.

Kulechov added that whatever Twitter users post on the platform remains there because they do not own their content. He added that Twitter makes all the revenue from users’ content and the platform has the reserved rights to decide which content should remain on the platform and which should be taken down.

However, the proposed Twitter alternative will provide more freedom for users to control their content.

More decentralized alternatives to Twitter

Aave Twitter is not the only proposed DeFi alternative to Twitter. Steemit is another proposed alternative, although it has not taken off yet.

Voice was another project that was intended to work like Twitter, but it never really took off. The project’s developer suspended it, saying that it will still have the same censorship issue with the social media platforms.

But Aave’s project may be a bit different and unique because followers will be able to vote on the type of content they share on the platform. This will keep the control of the contents in the hands of the users rather than with the content creators.


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