Earn.com is a new kind of social network where you earn digital currency by replying to emails and completing tasks. They have a new token coming soon, and the earlier you sign up the more tokens you will get.
Let’s start by discussing the need for this product.
Although there might not exist any correlation between how much money users pay and how well they are treated, the saying “if you are not paying, you are the product” is very spot on. Take for example Facebook, you as the user are not their customer. In fact, their customer are the advertisers who use its network to direct ads to receptive audiences. Therefore, making you the product.
Of course, I understand that you do get value out of using facebook as well, such as keeping in touch with family and friends as well as sharing what you had for breakfast. The point is that Facebook does get more value from you using it, than you from using Facebook. One of the proofs of this is that Facebook’s engagement and active users are steadily declining. This means that the value users are getting from Facebook is not worth their time.
That’s where Earn.com comes in. I signed up for this project when it was still called 21.co — so, what is Earn.com? Earn.com is basically a platform that allows you to create a public profile and get paid to respond to messages. In essence, I think they want to be a little bit more like LinkedIn than facebook, but instead of getting spam messages from recruiters you get paid messages. On top of paid messages they also implemented a sort of crowdsource internet marketplace that allows you to complete microtasks and earn bitcoin.
A few use cases they mention in their white paper include: (1) recruiters incentivising potential candidates to reply to messages; (2) software engineers issuing bug bounties on their codebase; or (3) marketers paying users to install their app. In essence, this product will allow requesters to pay for people’s time, and that’s definitely the way to go.
Just to note that they are soon moving away from Bitcoin. In fact, they will have a new token coming soon, but there will not be an ICO. All you have to do is sign up, and the earlier you get verified, the more tokens you will get. In fact, the token reward that they are giving away for onboarding halves each time the number of verified users doubles. Therefore, you do have an incentive to sign up as soon as possible and get verified.
The token was named Earnable (ERN) and is based on ERC-20 standards. The origin of the name has to do with the fact that this token is not mineable, but earned through labour.
Now the question, what is the need for this token? Why not just keep using Bitcoin?
They answer that in the whitepaper by saying that they see Bitcoin as digital gold and not so much as currency. They give three main reasons for this switch:
Firstly. The purpose of the Earnable token is to be earned, and as you know, Bitcoin is mined via computation. Therefore, they want to reward the users for their labour rather than for their computational capacity.
Secondly. They want to have the possibility for you to stake Earnable Tokens in order to for example rank more highly in search results.
Lastly. Bitcoin is having scalability problems, so they want to save on transaction fees and speed up confirmation times. Furthermore, they see in the ethereum network a more sophisticated use case for tasks with the use of smart contracts.
I really like the idea behind this product, and I think this is one of the projects where the potential of decentralisation really makes sense. Cryptocurrencies allow for efficient micropayments, with very low transaction fees compared to traditional services such as PayPal or fiat-currency-based payment methods like bank transfers.
However, what is even more important is that you will finally be getting paid for your precious time.
That’s all about Earn.com — if you did find this review useful, and would like to support me doing more of these, I would be very happy if you signed up through my referral link. The sooner you sign up the more tokens you will receive.
Also, as always let me know your thoughts about this product in the comment section and thank you for reading. I will see you next time!
Sign up: earn.com/luisramalho/referral/?a=f4nm252erg5sao39
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