In just past few weeks since mainnet release on April 10 roughly 250 people made use of Snax, 30% of which are far from the crypto industry. Today we are happy to announce Snax integration of Steem. It is going to take place on May 14.

What is Snax: Snax is a blockchain which rewards people for the content they create on public social media and provides them with free instant transactions by social account name. As an overlay solution Snax can integrate any established public platform. It builds bridges between these platforms and brings crypto closer to the people.

Snax, a blockchain aimed to simplify the way people make crypto transactions and make it more profitable, fast and fun, went public and launched mainnet on April 10.

Reward program

Everyday people generate tons of value on social media, but only social media benefits from this value. Snax believes that this is wrong. Therefore we have created a system that automatically issues SNAX tokens as a reward for the content user creates, giving him/her a return of their efforts.

It is a complex algorithm that works similarly to how Google indexes pages to make sure you get to see them in search…

On the 9th of April this year, after months of beta testing, Snax will be launching the main network.

What is Snax?

Snax is a public blockchain with a Delegated Proof of Stake consensus.

Snax chain provides you with an ability to send tokens to your friends using their Social Network account names, even if they haven’t joined Snax network yet.

Snax also rewards people for the social attention they receive for their content (tweets, Instagram posts, and so on) on already existing public platforms.

All major social networks and messengers are now hiring blockchain experts because they want to have cryptocurrencies for…

The fundamental technology that allows Snax to operate is the binding of the blockchain transactions together with accounts on the social media platforms such as Twitter, Reddit and so on.

Snax blockchain allows you to send transactions to any account name on any public platform integrated into Snax without prior invoicing from the recipient (we call those Social Transactions).

You can be certain that the transaction will reach the recipient without having to rely on a centralized third party (apart, of course, from the social platform itself). …

Rewarding social influencers

If a lot of people enjoy your content and listen to you, you should be able to monetize this achievement. There are, however, multiple problems that creators across platforms face when trying to monetize their success.

These problems are:

  • You have to rely on advertising revenue or on donations.
  • Platforms that provide ad sharing take a large cut from the ad revenue, with Youtube and Twitch taking half of any money generated by your content.
  • Tight control exerted by the platforms over who gets to participate in their partnership programs resulting in censorship and favoritism.
  • If you find a new…

Multiple projects in the blockchain community are trying to achieve widespread adoption of cryptocurrencies through the integration of the social networks together with the blockchain networks. They aim to create “social coin” which would be widely used by the general population. This article is the first part of the series which will look at the different approaches to increasing adoption of the blockchain technology.

Here are some of the problems that people who are unfamiliar with cryptocurrencies face when using blockchain for the first time:

  1. The simplicity of use. Crypto today is not easy to use. The UX is not…

Snax is designed to be a blockchain-based social overlay which rewards content creators on popular social platforms with one block being produced every 0.5 seconds.

General information

Snax emission is a unique mechanic that is built on the following principles:

  1. Early users registration is not a basis for future preference, unlike Steemit, for example
  2. People with high social activity weight on their platform should receive high rewards.
  3. Differences in social platforms should be accounted for, as a fair distribution between smaller and larger platforms is necessary.

Because of these principles, SNAX emission is a complicated function with multiple inputs. Token emission is…

A few years ago we have asked ourselves, how can we integrate blockchain into the everyday lives of people to enable widespread adoption of this amazing technology? After a lot of discussions and brainstorming, we decided that the best way to achieve that would be to provide people with an opportunity to transfer tokens without leaving favorite social media. The idea of Snax was born.

Snax is a public blockchain based on the EOS engine. Snax chain will provide people with an ability to create social transactions. Social transactions can be used in many ways — you can donate money…

We are introducing Snax: a blockchain overlay aimed to cover the most popular social media to build an economy of people’s interactions.

SNAX is the basic utility token of own DPOS blockchain. Snax platform allows to measure the value of a public content transparently and reward publishers without pushing social platforms to change established business models. Snax provides free accounts registration, instant zero-cost transactions, donation system and the possibility to create dApps.

Why Snax is different

We are focused on saving accumulated UX and existing network effects. It means that you don’t need to change the usual way of using favourite social platforms to…

Blockchain-based social overlay

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store