The LikeCoin project intends to give more meaning to the 'Like' button feature on content sharing platforms like social media. This protocol will use a typical LikeRank algorithm to rank content and the Creativity Evidence mechanism to reward creators.
- In the existing internet model, creativity does not always guarantee the rewards of money, especially for independent creators and freelancers. When the internet is still emerging, users make money by selling their intellectual property online. Surprisingly, the revenue model has not experienced a significant increase, despite the progress of other aspects of the internet. On the contrary, it has deteriorated; instead of money, creators only have 'Likes'.
- The LikeCoin Protocol aims to disrupt this culture by creating a platform where creators can monetize their content directly. As a result, creators will have more time in creating impressive content, rather than wasting time searching the market.
LikeCoin has the goal of rediscovering how it likes to work for artists on the internet. When an artist uploads their work to the internet, they still earn money. However, most of the ads, not their art. The more they get, the more money they will get from advertising.
However, there are some shortcomings about this model. First, it releases the advantage of the art itself because artists earn money from advertising, not their creations. Furthermore, the cost of advertising itself is far from cheap. As a result, creators can not gain the most from their skills. This is exactly what LikeCoin wants to change. By reinventing the likes, artists can earn money directly from their art. In this way, creators can focus on their art rather than looking for the most profitable ways to make money.
Benefits of Using LikeCoin:
- LikeCoin offers several features that will make this platform very appealing to creative workers. First, the like button in LikeCoin is different from similar functionality in other social media. Its function is the same, that is to show appreciation to the creators, but it comes with a greater advantage.
- When a user sees content that they really like, they can tap a key like that up to five times in a single post. People love being collected from user appreciation will be used by creators to mine LikeCoins from Creator Pool. In addition to tapping the Like button, users can also click Super Likes. When the user presses the Super Like button, they basically "pay" the creator with a token from their wallet.
- It also comes with a system called Proof of Creativity that is used to measure how "creative" a content creator is. A higher proof of creativity can be achieved in two ways. First, by measuring the content LikeRank and second by measuring the amount of Likes that the content receives.
Like.co - In order for the public to conveniently and transparently search for LikeCoin smart contracts, the mining section will be set up at Suka.co to reveal a detailed analysis of the distribution of the Creator Pool token, including but not limited to: How many LikeCoin were printed the day before, and historically from day one; How much content received LikeCoin, and on average; What content receives how many LikeCoin; The latest PoC difficulties. Creators can access their own creative content easily at Like.co, and receive detailed analysis from them.
- Token Name: LikeCoin
- Token Protocol: ERC-20
- Total Supply: 2 billion LikeCoin
- For sale: 600 million LikeCoin
- Hard Cap: 12,600 ETH.
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.
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