Posted 2 years ago | by Ben Armstrong
Decentralized Social Media is Here to Stay and HowDoo’s New Face Wants to Lead the Race
Social Media backed by blockchain has become popular over the last few months as the need for a decentralized platform has become more obvious as a result of events like the recent Twitter social engineering attack.
To learn more about HowDoo and Bitboy’s predictions for its, make sure to watch the latest YouTube Video:
Centralized Social Media is Under Public Scrutiny
Back on July 15th, Twitter was the victim of a security breach like nothing the social media platform had experienced before ass multiple accounts for celebrities, individuals and, organizations were compromised through the use of social engineering on employees with administrative access.
This access was used by scammers to run the infamous Crypto giveaway scam using verified accounts from crypto companies like finance and Coinbase, as well as well-known personalities such as Bill Gates and Elon Musk.
Hundreds of thousands of dollars worth of BTC were received by the scammers as the result of human error originating on the centralization of the platform, as certain uses have access that allows them to overpass restrictions and an account’s security established by the owner.
This is not new in the social media world as companies like Google and Facebook have experienced congressional hearings for scandals like the Cambridge Analytica scandal.
The existence of potential single-points of failure in decentralized platforms is a matter of public scrutiny now, with users realizing that a decentralized social media platform will provide more security, freedom of speech, and control over their data.
Decentralized Social Media Platforms are Ready for Mass Adoption
As the new bull run getting closer, it is expected that this time things will go differently for the crypto world when compared to the run of 2016 as blockchain technology and altcoins now have a lot of different use cases and growing support from regulators and industries.
With most popular social media platforms like Facebook, Twitter, and Instagram falling behind when it comes to gaining and maintaining users to applications like Snapchat and TikTok, the market is perfect for a new social media experience to be offered to users.
Several social media blockchain platforms are getting ready to launch in the coming months with one of these being HowDoo, a decentralized social media platform that has the support of big partners and will be going through a rebrand in the near future.
New Name, New Ticker, New Potential
A lot of people have been critical about the project's name as it doesn’t convey a social media relation according to critics, which is one of the reasons behind the rebranding for both the platform and its token.
The new name for HowDoo will be Hyprr with the company changing its name as well to Hyprr, INC, a United States corporation that has also been reflected in a transition in its technical specification.
Along with the new U.S. firm behind the project, there has also been a large U.S. based venture capital firm that has taken the investment reins of this project.
With the platform now renamed as Hyprr, the token could not be left behind and as so it has been rebranded to suit the hype behind the project: The Hype Token.
Hyprr users and creators will be able to directly buy and sell the Hype token through the platform with just a couple of clicks, which will facilitate its acquisition with the newer generations as it is similar to the model used by videogames and other apps.
Not All the Facts are Known but We Know Enough
The official launch is underway but the name of the influencers in the social media and entertainment sphere that are supporting the platform has not yet been revealed except for the fact that they have more than 350 million followers behind them.
Many of these influencers have signed exclusive deals which means that after the Hyppr’s official launch, their fans will only be able to access their token by following them in Hyppr, which is sure to turn the platform into the number one decentralized social media platform.
With rumors of a major exchange listing the new token still being unconfirmed, the only information publicly available currently is its strategic banking partner: Wells Fargo.
Having the support of a financial giant like Wells Fargo is sure to help the platform gain trust from the general public and facilitate mass adoption in a competitive sector like social media, as well as provide financial support to the project and financial expertise to the table.
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