Social media users on their phones

The parent company behind EOS – Block.one – will release a blockchain-based social media platform, the company announced on their website on June 1.

The platform called Voice, was announced during an event organised by Block.one at the DC Armory in Washington, D.C. The platform will utilise the EOS blockchain, which is upgrading to a faster 2.0 version, and will aim to be transparent, with no hidden algorithms or content-pushing mechanisms of which the user is unaware. During the opening ceremony of the event, Brendan Blumer, CEO of Block.one, announced the platform by saying:

The truth is, current social media platforms are designed to use their users. Just look at the business model. Our content. Our data. Our attention. These are all incredibly valuable things. But right now, it’s the platform, not the user, that reaps the reward. By design, they run by auctioning our information to advertisers, pocketing the profit, and flooding our feeds with hidden agendas dictated by the highest bidder. Voice changes that.

He also promised that Voice will do a better job of keeping bots and trolls out, without specifying details on how this will be accompllished. Following Blumer, the stage was taken by Block.one’s CTO, Dan Larimer, co-founder of blockchain social media platform Steemit. As a reminder, Larimer has been critical of Steemit management after his departure from the project, hinting towards a competing blockchain-based social media network on EOS. During his talk, he shared some specifics around the new Voice platform.

There will be a new token, called “Voice token”, which can only be created by users creating real content. An example use case would be staking Voice tokens to get to the top of the chain of comments. If another user decides to stake tokens to get above the current leader, the first user will receive their tokens back plus some extra.

During the event there was another equally important announcement made, which should offset the increase of pressure on the EOS blockchain. EOSVM is a “WebAssembly engine designed specifically for blockchain”, Larimer said. According to Larimer it would be capable of running 12 times faster than the original software, EOSIO, released on June 1, 2018.

Discussion

avatar