One key technical piece that's missing is the ability to store data as simple as it is with database SDKs. The schema can vary across applications but you need same guarantees as a database provides. Transient data can go off-chain since it doesn't require long term persistence. Once you have this and make blockchain as simple as any database, you'll see plethora of applications.
On the social media side, I expect further unbundling to occur. Communities will associate themselves with a certain platform that more appeals to them. Think Truth Social vs Twitter. I expect factions on Tiktok to break up as well. Threads will probably build features that caters to it's own community.
How is this better? More fun? More rewards? If the improvement is not easily understood it will be hard to gain traction. So far data or privacy is not a basic need or understood well by most. Entertainment is. Why TiTok was able to gain traction. They built a product based on an entertainment graph and social 2nd. To scale anything you need to have a value prop that scales. A Web 3 decentralized social graph is not it.
I'd invite you also to take a look at what Project Liberty is doing with DSNP over Frequency as well...
Farcaster is actually not an L2. They use a set reconciliation algo, not a blockchain. There is no double spend prevention needed
One key technical piece that's missing is the ability to store data as simple as it is with database SDKs. The schema can vary across applications but you need same guarantees as a database provides. Transient data can go off-chain since it doesn't require long term persistence. Once you have this and make blockchain as simple as any database, you'll see plethora of applications.
On the social media side, I expect further unbundling to occur. Communities will associate themselves with a certain platform that more appeals to them. Think Truth Social vs Twitter. I expect factions on Tiktok to break up as well. Threads will probably build features that caters to it's own community.
How is this better? More fun? More rewards? If the improvement is not easily understood it will be hard to gain traction. So far data or privacy is not a basic need or understood well by most. Entertainment is. Why TiTok was able to gain traction. They built a product based on an entertainment graph and social 2nd. To scale anything you need to have a value prop that scales. A Web 3 decentralized social graph is not it.