The world of Web3, innovation, and tech is constantly evolving, and one of the most exciting events that showcases the latest developments in this space is Consensus. This year, the event brought together some of the biggest names in the industry, including Daniel Alegre of Yuga Labs, Jeremy Allaire of Circle, US Senator Cynthia Lummis, Richard Widmann of Google, and the Mewe team.
As a participant in this year’s event, the Mewe team had the opportunity to connect with other leaders in the field and unveiled their latest. The MeWe team unveiled to the audience a new social media platform designed on the Frequency blockchain.
The team’s objective is to extend on-chain identity sovereignty to 20 million users worldwide. Through MeWe’s integration, users will gain control over their identity data and social networks.
Frequency optimized for high-volume use cases, allowing builders to deliver decentralized social applications at a massive scale. It solves the problem of volatile transaction costs with a predictable, low-cost pricing model.
Frequency is designed to support the scaling of the Social Web, while DSNP, released by Project Liberty in 2021, is a foundational element of the Social Web. By connecting to DSNP over Frequency, applications can cost-effectively deliver Web3 features to large user bases while tapping into the compounding network effects of the shared social graph.
Frequency is a parachain of the Polkadot blockchain, which pays a comprehensive lease to Polkadot instead of a fee for each block. This boosts the system’s scalability and stability, making it suitable for supporting the development and deployment of social media applications.
Giving control of social data back to users
Today’s social media world is an exciting space with endless possibilities. While some platforms have been known to control user data, decentralized Web3 is changing the narrative. Users now have the power to control their data and shape their online experiences.
Speaking at the event, Braxton Woodham, President of Unfinished Labs and contributing member to the Frequency blockchain, said that it’s important to take back the power and influence private companies have over data generated by users.
Jeffrey Edell, the Chairman and CEO of MeWe stated at the event that the company has exceeded industry standards in safeguarding users’ digital rights. “We are strengthening this commitment by literally handing over data control to our users,” he added.
Furthermore, he expressed that the vision is to lead a social web where individuals, not corporations, determine how digital spaces should function.
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