What is The Fediverse and how does it pertain to crypto?

Episode 29 - What is The Fediverse and how does it pertain to crypto?

I need to start off by saying this is not financial advice so if you are looking for that this show isn’t for you. The content of this podcast episode is for informational purposes only. The opinions expressed here are not meant to be taken as financial, investment, or any other advice.

I think we’ve all heard about the recent takeover and purchase of Twitter by Elon Musk. With this there’s been quite a bit of users leaving the social media platform and looking for something new or an alternative. This is where Mastodon comes in, a decentralized social media network. Before we talk about Mastodon let’s go over a few things to help clarify.

As the crypto world keeps growing and evolving there’s a lot of interest that gravitates new users and developers to it. In particular decentralization and blockchain technology that’s evolving the Web 3.0 movement. We talked about Web 3.0 in a previous episode and The Fediverse is something that’s becoming a part of that. Many users, organizations and companies believe the centralized web isn't working anymore. That it’s time for something different.

A lot of users of Web 2.0 are waking up and becoming aware of the power a handful of companies have amassed through the centralized nature of the modern web, Musk bring a good example. Many of these users are now turning to a decentralized alternative. The biggest reason for this is users want to own their data and the other is freedom. In episode 23 we talked about Web 1.0 being read only, Web 2.0 being read/write only and the newest Web 3.0 being read/write and own only. With over five and half million registered users already, and over half a billion posts ranging from photos uploaded to status updates in the Fediverse, this is how the future of the internet is evolving.


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