[01.15-01.21]2018 ShowCoin Development Progress Weekly Report
#ShowCoin Weekly Report Upload #Hello! I'm a ShowCoin Secretary. You can receive a SHOW weekly report 18:00pm~20:00pm(Beijng Standard) on every monday. This is a [2018.01.15-2018.01.21] SHOW weekly report. Please excuse about some insufficient part in report. Thank you.
Notice from SHOW About Conforming the Name of SHOW in Imtoken Mallet
From Jan.21st, SHOW will conform the capitalized spelling of “SHOW” in all exchanges and wallet. Now we have adjusted Show into SHOW in imtoken wallet.
This will cause “Show” cannot be found in wallet balance. Please press + and add “SHOW” into the balance display.
After this adjustment, SHOW will collect statistic data of platform distribution share through big data to carry out comprehensive data analysis.
ShowCoin(Show) to be listed complete on the seven exchanges
Deadline at 7 o'clock on the January 10th, ShowCoin(SHOW) has logged seven major world-class exchanges, including OKEx, Bigone, Bibox, KKcoin, SHUZIBI, CEX, Coin900, have all started ShowCoin trading. January 10th to 17th, the top trading platform OKEx on the SHOW theme activities. ShowCoin in December 31, 2017 end of the coin exchange(ICO). ShowCoin is a decentralized, interactive and live distribution SAAS platform based on Ethereum blockchain platform. The project team was led by former micro-shoot founder and former HUAJIAO TV CEO Hu Zhensheng. And now the ShowCoin project is currently invested in INBlockchain, Node capital and Star Chain Capital.
What problems do we solve?
It’s time to subvert the centralized distribution of contents
A true peer-to-peer live interactive system should allow consumers to pay directly and rewards content producers without having to go through a "hub."
While most of the platforms now serving as "hubs" are performing well, they are all based on up to 70% commission.
The hub usually carries definitions and distribution services that relate to content quality, such as live rating and rankings calculations, as there is no open and transparent transaction records, and commissions-based hubs often receive extra revenue through "overdraft" of virtual currencies, At the same time, it makes the fairness and impartiality of the content review and distribution mechanism based on this impossible and accordingly loses the maximum benefit brought by digital Internet to human beings, namely "convenient, efficient and low costs".
Reconstruct the distribution of benefits within the system with the decentralized approach
In order to solve this problem, we redesigned the digital currency "Show Coin" based on blockchain and smart contract technology.
The Show Coin and its distributed, off-center, live interactive entertainment offerings based on its economics have allowed the cost of issuing digital entertainment assets to be reduced to a theoretical minimum. Sub-units have autonomous qualities that allow the entire ecosystem to be balanced on the basis of Nash equilibrium.
In this open and fair democracy, anyone can participate in a stateless ecosystem that maximizes the return on the digital assets of each producer.
New content under the new system
With new interest and content quality definitions, content producers shift from "begging" to focusing on the number of online users, the content itself, and spamming to be completely eliminated.
It is hard for traditional interactive live broadcasts to attract high-quality content producers to continuously produce content such as celebrities, singers, performances and professional performances. Under the new profit-sharing mechanism, they will naturally be able to use traditional high-quality content Migration to the online interactive live inside.
At the same time, more types of content producers are also involved based on the evolution of ecology, such as gift designers, directors, screenwriters.
New user behavior under new system
Under the new system based on blockchain, consumers from passive participants to become part of the whole ecology, they through the holding of tokens through the watch time for the producers, but also through the dissemination of content to automatically obtain the producer's token of the money to become the most important part of the content distribution ecology, the more effective forwarding level, returns have also grown exponentially, and this is a closed loop that gives feedback to content producers and produces high-quality content.
All of this reward feedback mechanism is completely customized by the producer according to the change of the market, without the coordination of the center, in order to achieve the self-organization behavior under the whole ecological runaway.
Innovation of Content Industry
In the decentralized systems, the hubs are replaced by systems and processes, resulting in significant efficiencies and cost reductions of hundreds and thousands of times.
Furthermore, the three main activities of content production, production, discovery and distribution are all carried out by users under the automatic market regulation. Fair and equitable distribution of benefits can also give positive feedback to every link in the entire ecosystem for a better future.
Finally, let content producers focus on producing something more popular and do not have to spend a lot of energies on coordinating with the "hub".
The Hive Mind is a distributed memory that can sense and remember at the same time. It is a living system highly connected by many independent units and has the characteristic of typical adaptability.
There is no mandatory center control
Sub-units have autonomous qualities
Sub- units are highly connected to each other
The effect of peer-to-peer causes nonlinear causal relationships across the network
----KK, the author of < Out of Control >
Decentralized organizational vitality far outweighs the centrally controlled organization, which is the ultimate form of our human society.
----Hu Zhensheng, the founder of Show
Eco-circle and incubators
Show Coin completes the final link from blockchain to specific content producers, and we are more like an incubator of "Internet Celebrity".
On basis of the completed infrastructure, we will develop and incubate a number of "Internet Celebrity", "host" and "brokerage firms" that focus on providing them with traffic and operations services. Unlike other tokens and contracts, this may be the first blockbuster-based application for content-specific producers in the world, and most of the money we raise will go into incubation of content producers to create model effects so as to attract more traditional content producers to migrate to new platforms and allow them to bring in more active accounts of Show Coin for improving the entire ecosystem.
Implementation of designs
With respect to the design, we divided the system into two levels, the underlying infrastructure and the application above. Transparent open tamper-proof account books, intelligent contract infrastructure, etc. are based on the ground floor, while the top specific application is used to complete the business logics and the processes not to be decentralized.
The Show Coin is based on the infrastructure chain of Ethereum, so the development logic will be consistent with Ethereum. At the same time, we pay close attention to the progress of EOS development and we may give priority to switch to EOS after EOS began beta test and stable.
Because content production must comply with the laws and regulations of each country in the world and the benefits of each person are guaranteed with a smart contract, only the user ID generated by facial recognition and the real-name verification mechanism superimposed thereon can be produced, reviewed and forwarded in the system.
The real-name system is indispensable to the systematic equilibrium (based on a cell-phone-one-vote mechanism) and to safety and culture.
Decentralization does not imply a completely unlimited content production, such as child pornography. Under different national and cultural systems, content review criteria are not exactly the same, so we will provide an ethics-based mechanism based on the amount of tokens we owned so that the token holders elect ethics committee members in accordance with local laws and regulations Filtering harmful content that is not suitable for the general public and the entire ecosystem.
According to the latest artificial intelligence technology, the system will provide corresponding content screening and filtering mechanisms. Meanwhile, the interface will be open to the whole ecosystem and involve more technical service providers in the form of token rewards.
Can’t be tampered
In the entire ecosystem, not only live broadcasts but also media formats such as short videos, pictures and other media conducive to the interaction between producers and consumers, are not tampered and the timestamps entering the blockchain are the key to confirm the content copyright.
At the same time, based on the establishment of artificial intelligence content identification and reporting system that can quickly find and identify similar content to determine the copyright ownership.
In the whole ecosystem, all credit and ratings are based on a publicly available ledger under the token system based on blockchain and all transactions can’t be tampered with.
Based on the principle that all contents must be traded, the amount of spam can be drastically reduced. For example, when the number of live rooms is not enough to cover the cost of covering its traffic, producers will not be able to start the live broadcast, or the live broadcast will be suspended.
Any video contents not paid also shall not be stored in the system.
Money recovery mechanism
In the transactions of the entire system, the system will draw one thousandth as a "friction" fee, in order to increase transaction costs to make it true and reliable, prevent trash transactions and ensure the effectiveness of the system.
Meanwhile, this part of tokens drawn from "friction" fees will be destroyed directly to ensure that the value of the transaction will not be used by the system or the hub or returned to the initiator in disguise.