- Mar 14, 2018
Hello my friends from all over the world! LikeCoin is under the spotlight today. I want to introduce this project to you because its slogan “Reinventing the Like” and the idea behind it are what I’ve been looking for and I think many people, especially ones who are content creators, have the same concern.
Basically, LikeCoin platform enables content creators and service providers to receive incentive when their contents are liked or super-liked by audiences. You can refer to the whitepaper for fully detailed definitions of elements in the LikeCoin ecosystem, which comprises: creative content, content creator, service provider, derivative work, content adopter, content source, content origin, original creator, distributed content and content distributor. Don’t be bored by that long list of stuff, they are written in an extremely easy-to-understand way in the whitepaper. A notable feature of LikeCoin is that it creates a unique fingerprint for each creative content. The uses of each content for any derivative work on any service provider will be traced to ensure the content creator will get paid whenever his original work is used and liked. How does it work?
Firstly let’s have a look on LikeCoin technical stacks
The top layer is DApps with some of the representatives such as oice Visual Novel, puttyimages and blogchain.md. Those are places for original creators to show their contents and data about them are recorded on blockchain. LikeCoin Services and Ethereum Blockchain respectively lay below DApps. The base layer is IPFS. This is the global, decentralized and resilient library where the contents are actually stored. In the library, each content is accessible by a cryptographic hash called content fingerprint rather than a URL. This separates the content address from the application where it is created and used, therefore, the content is prevented from being locked up. The IPFS library also stores metadata hash, which is used to build content footprint for every creative content. While the content fingerprint is like DNA of a content, content footprint gives us information about its “family”. The content footprint is born so we can trace which content fingerprints are used to create a derivative work. Only content fingerprint and metadata hash are written on the blockchain through a LikeCoin smart contract by the service provider. This helps to maximize speed and flexibility while the gas needed to write to Ethereum is minimized.
Another important part of LikeCoin is the Proof-of-Creativiy (PoC) mechanism, which measures the importance of creative contents and allow content creators to mine LikeCoin with them. As things are getting really complicated from here, I urge you to study the whitepaper yourself and you should hurry up because the Public Token Sale is going to the end very soon. This is not just a for-profit project, LikeCoin is founded to encourage the habit and culture of voluntary payment for high quality creative contents and that’s why I think it deserves a lot of our support.
ANN Bitcointalk: https://goo.gl/pJAHRa
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Success comes from ideas, starting with enthusiastic people and flying high by the whole community
-Link Bitcointalk: https://bitcointalk.org/index.php?action=profile;u=1805177