While Friend.tech is booming, decentralized social networks have a retention problem – Executives

Decentralized social network Friend.tech may be booming right now, but executives say decentralized social media apps still have an integration and retention problem to solve.

Interview Join us on social networks

Despite the recent hype around riend.tech, some decentralized social networks are still struggling to convince users to sign up and stay on their social media platforms.

Two executives in the decentralized social media (DeSo) space told Cointelegraph that up to 99% of users who enter DeSo for the first time will eventually quit, either due to clunky onboarding or simply because they don't know anyone.

Ed Moss, head of growth at layer-1 blockchain company DeSo, said that the process of cryptocurrencies from an exchange, transferring them to a wallet with a Chrome extension installed, and then Paying high gas fees to transact on-chain or across-chain is cumbersome and expensive for new users.

"We've found that 99% of mainstream users give up on this first step, so simplifying this flow is key."

Therefore, the most important factor is making sure the onboarding process goes as smoothly as possible, Moss said.

Imagine you had to create everything we post on social media and you had to pay gas costs. How would you spend your time, money, and energy? This is what you should focus on.

— Ruben Cress #HIVE (@RubenCress) October 21, 2022

But problems can start even before that point, according to Suhail Kakar, the creator of the DeSo Onboard app.

Because users need to familiarize themselves with blockchain, smart contracts, and wallets before signing up, they are often hesitant to take the first step, Kakar explained.

"A party where you don't know anyone."

Catching up with the massive network effects that Web2 social platforms like Facebook, Instagram, and X (formerly Twitter) won't be an easy task either.

Kakar said DeSo apps need to spend more time building their communities because being present in these apps is “kind of like going to a party where you don’t...