Coinbase-Backed DeSo Launches Revolutionary Chat Protocol, Unlocking Cross-Chain Wallet-to-Wallet Messaging with Ethereum
California, 14th February, 2023, Chainwire
DeSo, the layer-1 blockchain that raised $200M from top funds, including Sequoia, Andreessen Horowitz, and Coinbase-Ventures, announces the launch of DeSo Chat Protocol (DCP) — an on-chain, end-to-end encrypted wallet-to-wallet messaging protocol for web3.
DeSo Chat Protocol (DCP) is a secure, censorship-resistant messaging platform for web3 communities. It is built with cross-chain interoperability in mind, so it can easily integrate with any blockchain. With its ability to sustain 40,000 messages per second, it can scale to millions of users, cross-chain, with little to no gas fees. Ethereum is the first integration for DCP, but there are plans to partner with other chains like Solana and Near in the future. When an Ethereum user logs in using MetaMask, they are instantly airdropped enough $DESO to send up to 10,000 messages.
Founder of DeSo, Nader Al-Naji, explains, “With its built-in interoperability, DeSo Chat Protocol is positioned to become the universal communicator for the entire web3 ecosystem. For the first time ever, NFT marketplaces like Opensea, MagicEden, and Rarible can integrate DCP to provide a safe, secure way for founders, builders, or creators to communicate regardless of the blockchain they use.”
DeSo Chat Protocol is a powerful communication tool that can be added to any app on any blockchain. Additionally, developers can create new, never before seen social experiences 100% on-chain. Furthermore, it provides white-labeling options so that web3 apps can launch with group chat and community-building capabilities without having to set up everything from scratch. DeSo is currently in talks with apps and NFT marketplaces to integrate DeSo Chat Protocol in the near future. That means communities on platforms like Opensea, Rarible, and MagicEden can communicate with each other no matter which app or blockchain they’re on.
Al-Naji continues, “That means that a user on Opensea can send a message to someone on Rarible, and a user on Rarible can send a message to someone on MagicEden without having to worry about gas fees making it easier than ever for web3 communities to scale and monetize on-chain with heightened safety and security to prevent hacks.”
DeSo Chat Protocol offers a wide range of features that popular messaging apps like Signal, Telegram, and Whatsapp have, such as group chat management, message edits, end-to-end encryption, and emoji reactions. Additionally, thanks to the money-native features that come with the DeSo blockchain, DCP can be customized to build novel messaging experiences that integrate NFTs, Social Tokens, Gated Messaging, and much more!
Crypto communities have been clamoring for their own web3 native chat application for the last several years, especially after the high-profile Bored Ape Yacht Club hacks on Discord. Most web3 communities are fragmented and forced to use archaic web2 messaging protocols, leaving them susceptible to hacks, attacks, and stolen assets.
Internet scams are expected to increase due to the explosion in popularity of AI, where deep fakes are difficult to discern from reality; blockchain-based identity and reputation could be the only way to verify whether someone is real, mitigating scams along the way.
Additionally, the DeSo Chat Protocol is positioned to become a major player in the global Blockchain Messaging Apps Market, which is expected to grow from USD 42.23 million in 2022 to USD 628.72 million by 2030 (an increase of 1389%). It stands out among other options because it’s built on the DeSo blockchain, specifically designed with scalability in mind, allowing decentralized social networks to reach billions of users while offering unmatched trust and transparency thanks to everything being stored 100% on-chain.
This is yet another step towards DeSo’s mission of becoming The Social Layer of Web3, a creator-led and user-owned internet powering the future of social media. With the recent launch of Openfund and MegaSwap, DeSo now boasts a full set of tools for founders and builders to launch apps that attract millions of users while creators can monetize in ways never before possible.
DeSo is a new layer-1 blockchain built from the ground up to decentralize social media and scale storage-heavy applications to billions of users. It raised $200 million and is backed by Sequoia, Andreessen Horowitz, Coinbase Ventures, Social Capital, Polychain Capital, Winklevoss Capital, Pantera, and other blue chip funds.
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