Meta, the parent company of Facebook and Instagram, is reportedly working on a text-based social network app that will rival Twitter and other microblogging platforms. This new platform is expected to be built on a decentralized mechanism, similar to Mastodon, which means it will operate on a Blockchain formed by a network of user computers. This will give power back to the users, eliminating the shift of power from a central source.
According to a Meta spokesperson, “We are exploring a standalone decentralized social network for sharing text updates. We believe there’s an opportunity for a separate space where creators and public figures can share timely updates about their interests.” This move is a strategic one by Meta, given Twitter’s ongoing problems, including the shift of users to other alternative platforms.
The new Meta platform, codenamed P92, is reported to be built on a framework similar to Mastodon, and users will be able to log in using their Instagram credentials. This is a smart move by Meta, which could potentially draw a lot of Instagram users towards this new Twitter competitor.
The move towards a decentralized mechanism is a significant development for Meta, as it aims to provide a more secure and user-centric social network. It will allow users to have greater control over their data and protect their privacy, as they will no longer have to rely on a central authority for their online activities.
Furthermore, this new platform is expected to offer a separate space for creators and public figures to share their interests and updates. This could lead to a more vibrant and diverse community, and could even give rise to new influencers and thought leaders.
Meta’s new decentralized social network has the potential to challenge Twitter and Mastodon, providing a more secure and user-centric platform for sharing text updates. Its ability to give power back to the users and offer a separate space for creators and public figures could make it a game-changer in the world of social media.