Each time an individual log onto Instagram, Twitter, and Facebook, they share a small information about their lives in exchange for entertainment. This is normal in the modern world; all social media companies build platforms and mobile applications aimed at keeping their users engaged. But in exchange, the users provide a certain level of information and content on these sites.
Blockchain social media platforms are set to change all this. Blockchain social video platforms such as BuzzShow award their users digital currency for the content they create. Everything an individual does on the platform; for example, a like, a post or comment is awarded in BuzzShow Tokens (GLDY). Once the BuzzShow Tokens ( GLDY) has been accumulated to a reasonable amount, it can be exchanged for any other currency or be resold to others as the BuzzShow Tokens Utility Tokens serving the entire food chain on BuzzShow eco system.
The BuzzShow tokens circulated on the network are generated at a predetermined rate and then awarded to different users on the BuzzShow network based on the rules written into the blockchain contract. The awards are also given in a manner that encourages users to increase the overall value of the platform. The largest portion of the tokens generated on the BuzzShow Network is sent to the rewards repository for curators and content creators. A smaller portion is set aside for vested token holders.
BuzzShow is an advanced reward-based social video network which rewards its users with BuzzShow Goldies Tokens for producing, curating, sharing and watching videos. In future, its decentralized platform will offer complete control and confidentiality to its users on their video social media space.
One of the best qualities of blockchain based video social media platforms is that they offer absolute transparency. Every action made by the user is recorded on the blockchain. This means that every currency transfer, vote, or even the digital currency amount associated with to the user’s account is accessible to the public. BuzzShow tokens are usually awarded to creators who provide the best quality. Members are also given rewards for content that is popular amongst the other users.
Similar to community-driven sites such as Reddit, this blockchain content sharing platform is an extension of the principles of group-psychology, where collective consciousness determines the most popular and sought-after content. This is a different approach from the one taken by platforms such as Instagram and Facebook who use massive and powerful algorithms to control what will appears in each user’s feed.
On BuzzShow’s blockchain social video network, a weighted credit system gives more significance to the votes created by well-established users as these are more likely to be committed to the platform. While a vote awarded by a new user may have little value, the monetary value of a vote given by a user with a good reputation for producing quality content could be several dollars. In this case, also, there are influencers who can drive the traffic.
BuzzShow makes it much easier for an average person to benefit from the use of cryptocurrency. Unlike other cryptocurrency applications, there are hardly any barriers to the entry on this social video network. Users can start earning small amounts of cryptocurrency before acquiring an understanding of how it functions.