Hitherto we have all seen the like button feature on facebook and some what similar on other platform like twitter where we press a button to display our likeness regarding any content. That's it, currently it does not do anything more. It does not reward the content creator. Content creators are not getting incomes but Likes.
To say it simply, in Internet the rewards and creativity has been diverged for long now and this is more true for those who are freelancer or content creator either as a hobby or full time job. Here comes the innovation of LikeCoin which aims to reinvent the Like by realigning creativity and reward.
Like coin will be using the proof of creativity mechanism which will be based on their LikeRank algorithm and a reinvented Like button. This will simplify the rewarding mechanism for content creators and even a simple smartphone user will be able to use this to earn some extra money.
How? because he is also a content creator. He writes a poem or takes a snap of nature and people on internet will decide if they like it or not and he will get paid for this. Awesome, is not it ?
Proof of Creativity
While blockchain miners usually understand mining as solving a mathematical problem, it does not have to be the case. Say for example, proof of stake (PoS) mechanism does not involve hash power and thus has little impact on environment.
With a focus on rewarding content creators, LikeCoin measures the importance of creative contents, i.e. creativity, and allows content creators to mine LikeCoin with their creative contents. We call the mechanism proof of creativity, or PoC. Minting formula for PoC have been designed keeping various factors into calculation.
LikeCoin Ecosystem
Creative content- A digital photo, illustration, article, footage or sound clip. Each is represented with a unique content footprint.
Content creator- Means a person who is producing the content.
Service provider- A web or native application supporting LikeCoin, by incorporating the LikeCoin attribution protocol and/or the reinvented Like button.
Content adopter- The creator by whom and the service provider on which a derivative work is produced.
Content source- The creative content on which a derivative work is adopted from
Content origin- A creative content without a content source.
Original creator-The content creator by whom and the service provider on which a content origin is produced.
Distributed Content-Without modification, use a creative content produced by another creator in the same or another service provider.
Content distributor-The content creator by whom and the service provider on which a distributed content is used.
Review/Scope -
LikeCoin is exploring a market which is hitherto untapped. They are providing an answer to a very general but widespread problem. They can integrate the large user bases of different social media platforms. They are bound to succeed. I am excited not because I am an investor in this coin but as a user, as a content creator I will be more than happy if I am rewarded for my work on the internet and LikeCoin seems to materialize my dream.
for more information, please visit -
ANN — https://goo.gl/pJAHRa
Whitepaper — https://like.co/in/likecoin-whitepaper-en.pdf
Website: https://like.co
Twitter: https://twitter.com/likecoin_fdn
user- vcxv
