Many things come to mind when we think of social media, but privacy is usually not one of them. With our social media feeds filled with ads for the products we’ve vaguely discussed the Cambridge Analytica scandal of a few years ago, it’s probably safe to assume that not much is being done on this front on the part of the community.
Many argue that personal data being used in every way is a necessary evil to reap the benefits of a connected world. However, the technological innovation of the past few years has meant that it is no longer necessary to simply accept that personal data is not ours when we are online.
In fact, user privacy is one of the main and most supported use cases of blockchain-based technologies, and Atom is one such company that aims to leverage the Web3 experience to give users a decentralized community and social trading .
How Atem Maintains Privacy
From the outset, Atem’s setup allows the user to give as little information as possible. One only needs to be connected to a digital asset wallet to get started with Atem. No name, email address, or phone number required.
All messages sent by users through the Atom network are encrypted in the short term and then stored on a decentralized source in the long term. This means that not only members of the Atom channel are able to view the messages sent, but also Atom employees cannot see these messages.
User groups are selected based on non-fungible tokens (NFTs) and other digital assets that users already own in common, although they can create their own channels within the groups.
Digital asset data that is used to filter users for clusters is sourced from several blockchains, including Ethereum, which once again provides publicly available information.
Users who hold digital assets give them access to specific emojis that can be used when interacting on the platform. In addition to its features for regular social media interactions, Atom also provides tools for social trading.
What is Social Trading?
In this case, social trading means that users trade digital assets among themselves through social features. Typically, users have to visit the NFT Marketplace to buy and sell NFTs, and this means setting up multiple accounts.
With Atom, users can bid, auction and send NFTs, as well as cryptocurrencies, via the chat function. Since Atem accounts are linked to an existing wallet, transfers can happen instantly.
This is more convenient than the current system that requires users to hold the specified cryptocurrency of the NFT marketplace they wish to use. After users go through the trouble of buying a cryptocurrency, they can bid with it but if their bid fails, they are stuck with the tokens they bought only for the purpose of bidding. With Atem, there is no need to go through this process.
The Atem ecosystem also uses the classic blockchain system of DAO governance. This means that users are able to vote on changes made within the Atom ecosystem. Unlike other centralized social media sites in which changes are made with limited user input, Atom lets users make these important decisions.
This is very important considering that upcoming Web3 systems give the utmost priority to users having more control over running the Internet.
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