Blockchain technology is aiding the emergence of new social media networks that can change the existing structure. For instance, SocialFi platforms can eliminate Incidents like privacy breaches, algorithm changes, user suspensions, and content censorship. This is possible only by eliminating central authority and ensuring that the platform is owned and run by the community.
The biggest challenges that SocialFi networks may face are scalability and sustainability. The existing major social media platforms generate a massive amount of data on a daily basis. This data exists in the form of likes, comments, shares, and reactions, apart from the actual posts and conversations that happen on their platforms.
Although blockchains are powerful and are able to handle large sets of data, can they really handle the amount of real-time data that social media networks do? Platforms like DeSo claim they can, through scaling solutions like indexing, block size management, and sharding.
However, the blockchain economy is still in its infancy, and SocialFi models are more so. So, whether they are sustainable enough to last through several market cycles remains to be seen. Mainstream adoption will only be possible when the SocialFi model seems to be sustainable.