Analysis of the current application of blockchain in social media

Abstract

Since the appearance of bitcoin, blockchain technology has been widely treated as an opportunity for businesses and the technology revolution. Until now, blockchain technology has been applied to several fields such as energy system evolution, Cryptocurrency, and social media. In this paper, the author mainly explored the current application of blockchain technology in social media, the algorithm behind blockchain technology, and the existing problem in blockchain technology. For the application in social media, this paper explores fake news detection, user trust framework, and decentralized online social network. For the algorithm behind blockchain technology, the Raft algorithm and Practical Byzantine Fault Tolerant algorithm are discussed in this paper. Moreover, one of the innovative consensus algorithms will be explained in the subsection. The following topics will be discussed in the existing problems section: Internet of Things issues, delayed confirmation, and information security. Finally, the author concluded that the current application of blockchain in social media is still developing, and more possibilities for blockchain application in social media will be found with further development.