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Meta Platforms exploring decentralized social network for text updates - Reuters

By Scott Kanowsky 

Investing.com -- Facebook-owner Meta Platforms Inc (NASDAQ:META) is exploring a standalone decentralized network for sharing text updates, Reuters reported on Friday.

In a statement published by the news agency, a Meta spokesperson confirmed earlier speculation around the move, saying it will be an "opportunity" for creators and public figures to share updates about their interests.

A decentralized platform is run mostly by volunteer administrators who bring their networks together through a so-called federation of apps. Facebook and Twitter, conversely, are platforms overseen by one centralized figure - the company, in this case.

An Indian business news website called Moneycontrol.com first reported that Meta's new content app would support ActivityPub, a decentralized social media platform used by Twitter peer Mastodon and other similar networks.

Citing sources, Moneycontrol.com said the app would be Instagram-branded and be accessible via users' Instagram login details.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.