Let me explain why SELFLLERY’s token sale is based on Ethereum blockchain. So, there is an internal asset called YOU token, which is used in reward system of SELFLLERY. You post photo → your photo gets Likes → you get YOU token which is based on Ethereum blockchain. YOU tokens can be transferred to a wallet and spent as wished.
Ethereum, being the second-most popular cryptocurrency, is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third-party influence. It’s built on blockchain-technology, an enormously powerful shared global infrastructure that can represent the ownership of property. ETH is used by such business-giants as Lufhansa airlines, Intel and Microsoft and such charity organizations as United Nations International Children’s Fund (UNICEF).
Ethereum was initially described in a white paper by a programmer Vitalik Buterin in late 2013 with a goal of building decentralized applications. Buterin had argued that Bitcoin needed a scripting language for application development. Failing to gain agreement, he proposed development of so called Bitcoin 2.0 platform with a more general scripting language. That was Ethereum’s start.
The majority of ICO projects are being built on the Ethereum platform and ERC20 protocol. John McAfee, founder of an American global computer security software company McAfee, says that Ethereum is used by more than 50% of all new altcoins.
Other experts say that this platform has an outstanding perspective to beat bitcoin in the nearest future. Its smart contract system provides transparency of any transactions, contests, advertising campaigns and relationship between an advertiser and a blogger etc.
That is why SELFLLERY has chosen Ethereum system as a reliable foundation for creating the most convenient, smart and honest ecosystem for visual content monetization. Keep on developing!