YouTube need not fear Odysee, but positive signs for decentralized apps

Decentralized social media networks have a long way to go before they catch up with their bigger cousins. But with Odysee leading the charge at 5.3 million monthly active users, there are signs that privacy-friendly apps are gaining ground.

The findings were disclosed today on fintech website Stockapps, which found that the alternative to the popular video streaming channel was the frontrunner among decentralized apps.

Steemit, viewed as a blockchain alternative to Reddit and based on the same type of blockchain technology used by cryptocurrencies, was the second most popular, with over three million monthly active users.

Mastodon, posited as an alternative to Twitter with nearly 1.2 million monthly active users and over 10 million registered overall, is also growing in popularity.

True, those figures are all a long way off from the heady heights of 500 million enjoyed by the likes of centralized app Twitter, let alone the two billion each that Facebook and Instagram can boast.

However, the research by Stockapps suggests that more and more social media users are looking askance at the shady data-collecting and sharing practices observed by many if not all these tech behemoths.

Stockapps chief financial adviser, Edith Reads, said: “Decentralized networks have garnered significant traction over the years, becoming viable alternatives for centralized media. It’s no surprise that they are defining future tech considerations, as data privacy proves to be a major turn-on for users.”

More from Cybernews:

John Hopkins confirms MOVEit breach

Big names are ditching Twitter for Threads, Musk mad

Man charged over Bored Ape Yacht Club NFT theft

Phishing fears as fake Threads websites multiply

Kick vs. Twitch: the battle of the streaming titans

Subscribe to our newsletter

Leave a Reply

Your email address will not be published. Required fields are markedmarked