That's one of the microblogging species on the Fediverse.
There are also photobloggers (foedoratus tabula -- #Pixelfed), and the Threadiverse (#Kbin Kbinauts, foedoratus kbinu and #Lemmy Lemmings, foedoratus lemmius) which hosts an interconnected set of forums like Reddit.
The thing about the #Fediverse is that it's a Federation of sites, that's your instances. You can post on your instance and see connected instances. Mastodon is a federation of connected microblogging sites.
You can change instances if you find yours to be too slow or incompatible socially.