The only social networks who have stood the test of time are the ones that have evolved on a consistent basis. That is why, if social networks need to stay relevant, they need to grow on a continuous basis. Only when they evolve on a constant basis, it will be possible for them to remain relevant. In this regard, smart contracts will inevitably fail.
How can Ethereum (ETH) smart contracts and social media go hand in hand?
Many social networks still do not allow to pay for the advertisements in cryptocurrencies. The truth is that many entities and individuals would like to advertise on the social networks. They can certainly pay in cryptocurrencies, but since most of the social networks do not support the same, it is tough to advertise for such individuals. It is high time that social networks consider accepting cryptocurrencies as a payment mode.
Moreover, the use of cryptocurrency in the gaming world is also consistently going up. Many of the social networks offer games as well. It is time that they integrate cryptocurrencies into their games so that the gamers can buy in-game assets quite easily. Many gamers prefer to pay in cryptocurrency. That is because they already have cryptocurrency portfolios. That is why, if the social networks integrate payment in cryptocurrencies for the games, the in-game purchases will surely rise. The social media networks can even use blockchain technology to verify these payments. As a result, the payments can be verified in no time at all.
The next paradigm for the social networks is the blockchain technology and cryptocurrencies. The faster they integrate with the blockchain world, the easier it will be for them to stay relevant and grow their user base. Once it happens, it will be easy for them to increase the user base at a consistent pace and ensure that none of the other social networks which offers such integrations get ahead of them.
The integration of social media networks with the smart contracts by Ethereum (ETH) will not just help the social media networks but also Ethereum (ETH). It will validate the effectiveness of the Ethereum (ETH) smart contracts. When that happens, Ethereum (ETH) will be able to gain back much more users which it has lost in the recent times to the other blockchains. It is time that social media networks evolve and think about integrating cryptocurrencies and blockchain technology to make it easier for users to advertise.