In present Era we see the boom of cryptocurrencies and we have got more than 1500 cryptocurrencies which are listed on the website coin market cap. The number goes on increasing and this number has increased dramatically in the past couple of years. Leaving apart some exceptions like IOTA which is currently ranked 12 in the list and it works on a different technology called as tangle technology. Almost all other cryptocurrencies are based on blockchain concept. The ranking of cryptocurrencies is based on the total market cap of the cryptocurrencies.
As I mentioned above these cryptocurrencies work on blockchain technology, so let me first explain this technology with some examples.
Wikipedia defines blockchain as :
continuously growing list of records called blocks which are linked and secured using cryptography. By design blockchain is an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way.
If you haven't understood the fact. Let me simplify it with an example.
If you want to build a house, you need bricks for the construction purpose, here you don't put or set all the bricks at once ,you need to set all the bricks in a proper way, you set a single brick at first and then you repeat the process. Here in a continuous process of joining and rejoining of bricks every brick which is infact a block add some value for the cause hence forming a chain or we can simply call it as blockchain.
Blockchain technology has got immense scope currently and we will see more and more improvements in near future. If we take a look at the current scenario the primary use of blockchains today is as a distributed ledger for cryptocurrencies, most notably bitcoin.
Bitcoin is the first cryptocurrency which works on blockchain technology and it came into existence in year 2009 and the man behind it was SATOSHI NAKAMOTO.
cryptocurrency can be used in almost every field of life, it can be used to treat diseases, in education sector etc. Some of the countries such as India, China, United States, Sweden, Singapore, South Africa and United Kingdom are studying issuance of a Central Bank Issued Cryptocurrency (CICC), but none of these countries have succeed in it.
Since the introduction of blockchain technology is now almost 10 years old but it has not been widely accepted yet.
What we can achieve if this technology is applied on social network?
Telephone was the fastest source of communication till late 90s. In earlier years of current century some social networking apps came into existence but it boomed after the introduction of Facebook in second decade of this century which revolutionized the communication system and all the borders were shunned down.
But do you know the popular social networking giants like Facebook, Twitter and Instagram are not 100% safe for you and your privacy is at risk here. You might have noticed that you are deemed to obey a disclaimer before account creation on these platforms. Your privacy remains always at stake and you can't file a petition anywhere if your privacy is harmed because you submit the disclaimer before account creation so you are not authorized to do that.
Not only this the social networking giants like Facebook, Instagram, Twitter etc earn hefty amount of money by using you as their product and by selling your contributions to the highest bidders. Not only this it provides a great market place to the marketing agencies as people are deemed by the site owners to enter their likes and dislikes on profile which remain public and by this the marketing agencies can target desired customers. Since the site owners earn huge amounts of money by using the data which doesn't belong to them actually but belongs to you, so don't you think you should be entitled to the share, yes you do
But have you ever seen these companies paying anybody a penny of their earnings, surely not. So when you have options available why should you stay here go for an alternative and the alternative is none other than
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Sphere is the next generation social networking platform which is based on the future of privacy, data security and transparency. Which are not provided by the social networking sites like Facebook, Twitter, Instagram etc. Here the privacy remains utmost priority and your privacy is respected and is not shared with anyone without your permission. Moreover you get compensated here for your work for every click you perform here and for every interaction and connection.
As I mentioned earlier about the cryptocurrencies. Sphere has its own cryptocurrency which will be used to compensate its registered users here. Sphere uses Aptly named social activity tokens or simply SATs as their cryptocurrency, which can be used for financial transactions withn the social network.
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SAT tokens are crafted in a great manner you can use these tokens for buying products of other registered users here. Let me explain it to you with an example, if you want to sell your phone here you just need to set a price tag of your product and simply put that on your profile, you can also limit the user's who can see or who may not be able to see your product. The purchaser will simply click on the selected price and will have to pay you in the form of SATs and an immediate deduction in purchasers account and the same amount of tokens will be added in your account and the transaction will be marked complete.
Moreover sphere is currently in its ICO stage which started on 12th of February 2018 and first round has came to its end and the whole ICO will end on 9th April 2018.
You can buy tokens in the token sale on a very low price of 0.14 USD for 20 SATS. You might be thinking why I said very low price just google and see the initial price of bitcoin and compare that with the current price of bitcoin you will find the answer. Also sphere is providing a bonus of 35% to 45% on token purchase so go an purchase by now.
You can also get the SAT tokens for free by referring your sphere link to your friends which is currently 20 SATs per referral.
Also sphere is running a bounty program also where from you can earn SAT tokens for free. If you want to know more about this program please follow this link
For more details about this amazing platform don't forget to read Sphere white paper
If you haven't joined sphere yet do join it from main website link or you can join by using my referral link
Thanx for reading and do join my next blog for more info.......