[2018-06-06] When Will Facebook Move to the Blockchain?

[S3cco]

Bitcoin Garden: When Will Facebook Move to the Blockchain?
https://bitcoingarden.org/when-will-facebook-move-to-the-blockchain/

As the CEO of the world’s largest social media platform, Mark Zuckerberg has no choice but to try and remain at the forefront of the industry’s biggest trends – and his website’s biggest potential threats.

So it was no surprise when, in January 2018 he mentioned that he was interested in studying the positives and negatives of cryptocurrencies. Forget Instagram, Snapchat, WhatsApp, and even Oculus – blockchain technology could be one of the platform’s biggest threats yet.

Blockchain technology is still in its initial stages of development. Right now, it certainly doesn’t pose an existential threat to Facebook – an established platform that has been in existence for almost 15 years.

However, long-term, there is a very real chance that the technology could give the platform a good run for its money. Facebook is a massive centralized organization with over 2 billion users. The underlying platform infrastructure is controlled by a single entity, and individuals can use it in exchange for sharing their data with third-parties. Blockchain, on the other hand, offers a completely different experience. It is a fully decentralized ledger that stores data across a huge network of computers owned by its participants....

[vit05]

It is very expensive for something like this to happen in the next few years. Maybe we will gradually see more information being exchanged using some kind of Blockchain. But having a social network in a decentralized system is still quite unlikely.

[hatshepsut93]

Blockchain, on the other hand, offers a completely different experience. It is a fully decentralized ledger that stores data across a huge network of computers owned by its participants....[/i]

So, how exactly do people expect blockchain to disrupt services like Facebook? Currently Bitcoin users who run full nodes store the data of ALL transactions that were made since the first block, and this is very limiting to Bitcoin's on-chain transactions per second. It's impossible to do something like that with Facebook, even if you'll try to make some smaller network of 20 powerful datacenter masternodes, it would still be too expensive. The only way I can see it working is if users will store only their own information and information of some of their friends, and then serve it on demand, but it's unclear if this is possible to achieve.

[Krishniche]

If I am not wrong it has already started exploring avenues in this direction.

[greeklogos]

Facebook own so many private information and Blockchain is not enough teste, add to that such changes will ask for money and time. I think FB is still waiting to see how Blockchain will show itself before to take the final decision about it.

[cetald]

I doubt that Facebook will ever go on a blockchain. They do not need it. But I'm sure that the Facebook team is already developing its crypto currency. I suppose that in the near future they are announcing it.

[onrise]

It is very expensive for something like this to happen in the next few years. Maybe we will gradually see more information being exchanged using some kind of Blockchain. But having a social network in a decentralized system is still quite unlikely.

It would have being more good had they not banned the cypto ads on their FB and continue supporting the blockchain as well crypto. Now due to their ban and supporting blockchain it seems that they might be bringing their own coin and will support that only and you will need to buy their coin if you needs to access to FB special features etc could be their pan.