Just imagine how awesome it would be to get paid for likes on Facebook or for a popular comment on the internet. You are the reason someone is viewing your content on the internet. So why should Facebook and other social platforms benefit financially while we don’t?! This is what I love about the movement that is happening in the world where we the people are taking our power and value back! For SOLA, I predict huge growth like CARDANO (ADA), STELLAR LUMENS (XLM) and (IOTA (MIOTA) are experiencing. I also would HODL SOLA (SOL) like I plan to with TRON (TRX).
SOLA: A decentralized social network that spreads your posts like a virus and pays you for it. Empowered by distributed nodes, IPFS and Ethereum blockchain. If you read deep into there whitepaper you will see the revenue model is very strong, the vision clear, and the applied experience of the team is evident.
whitepaper quote “The most criticized aspect of centralized social networks is the way they handle user data and privacy. This is unlikely to come as a surprise, given that almost 100 percent revenue of social networks comes from displaying ads to their users based on the user data. We consider this as a symptom and not the root cause. The root cause it that networks are reluctant to see their largest and most important audience, users, as their full partners. We think that users should have the right to benefit from the networks, as do advertisers and network owners.”
I’m wondering where facebook comes into play in this space. The Sola whitepaper addresses this question. “There have been a number of attempts (and they are not ceasing) to build an open sourced or a decentralized social network that pushes the concept and the business model of social media beyond the existing incumbents. It is worth mentioning app.net (paid open source Twitter rip-off) and Diaspora(distributed rudimentary Facebook clone). The most notable contenders today are Akasha (decentralized rudimentary Facebook rip-off) and Steemit (Reddit clone powered by cryptocurrency).We do not consider these and other decentralized social network attempts as serious contenders in the social space. Despite modern architecture they are falling short on the two most important levels — comparable or superior user experience (ideally, of the new users) and a solid underlying business model. There are two examples that fit into our defined criteria that a next generation social media contender should meet — Status and Kin. However, both of them use a messenger form factor, while we at Sola use a modified social network approach.”
image source: https://sola.foundation/
Ilya and Pavel, Sola’s co-founders, have been working together since 2011 when they established a new venture for innovative social products development. The first project of a photo-based social network We Heart Pics lost to Instagram and was shut down despite its 3M users. The next project was Plague, a social experiment that was started to find out if people were ready to communicate and collaborate with strangers in a constructive and respectful way. It has been running for almost 3 years, and now it is ready to come out of its infancy phase with a 650K user base.
Legacy social networks (Facebook, Twitter, etc.) can be categorized as semi-public networks. Despite most of their content being public, you are required to establish connections with other users in order to receive information without which such semi-public networks are useless. By making connections, you define your content. However, instead of choosing information directly, you choose sources of information. You effectively create filter bubbles for yourself. The system is restricted by its own rules, and it cannot show the content that falls out of filters. Moreover, legacy social networks were initially intended for communication among friends, so their feeds are a heavy mix of general and personal content. Reddit comes closest to our definition of a social information network.
Its content is not intended for friends but for the consumption by general audience. It does not require users to establish connections to use the service and it still provides a way to fine-tune the received results. Reddit has one of the most visited resources on the net despite the fact that it has not changed a lot in the last 12 years and was not fully aware of the Mobile First concept, at least in 2011. Thus, there are a lot of possibilities. Sola is a public social information network with a strong financial incentive for all involved parties to follow the rules of the network and to develop it together. Its content is produced by quality-oriented users for the global audience instead of just the user’s friends. Summarizing the above written statements, it is safe to call social information networks as a hybrid of a social and a media network.
Know Your Customer (KYC): NO
Accepts: ETH, BTC
Token type: ERC20
ICO Token Price: 1 SOL = 0.1000 USD
Fundraising Goal: 5,000,000 USD
Total Tokens: 150,000,000
I love this idea and I am happy to see social networks reward its users for the value they obviously produce.