January Recap

Dear community,

This month we would not only like to give you an overview of what happened during the last month but also give you an outline of how we are coming along with fulfilling the vision of SocialX.

Release of our SocialX Video

We are very happy with the outcome of our video-production and if you have not checked it out yet, be sure to do so !

So… what’s next ?

The Switch to EOS (80%)

As you might know our SOCX-Token is an ERC-20 Standard Token and therefore our network has to rely on the Ethereum-Blockchain. We feel like the EOS-Blockchain is a better and more reliable fit for our needs. We evaluated EOS the last months and we worked hard on the implementation into SocialX. They also made it on the 1st place in the just released “CCID Global Public Chain Technology Evaluation Index”. The crypto ranking is compiled by the Chinese Centre for Information Technology (CCID) and was first published in May 2018. Here is the link to the original 9th edition of the Evaluation Index.

This means that our ERC-20 Token will be swapped for an EOS-Token in the future. We will of course provide comprehensive and timely information to our community if there is the need for the Token-Holders to take action.

Wallet integration (60%)

As outlined in our roadmap our App will feature a in-build Wallet which will be able to store our SocialX-Tokens.

Further Blockchain integration (30%)

3-Layer Infrastructure

We will use Blockchain Nodes to save transactional operations and to operate our smart contracts. As mentioned above we will use EOS for these means.

Integration of Super-Likes and our Reward System

At SocialX, great content will be rewarded based on Superlikes received from other users for great content. This not only creates a healthy community, but also attracts high-quality content publishers.

We will try to find the best parameters to start and we will end up with different parameters as the community grows and evolves.
The difference between us and other reward systems is that our community can decide: You can suggest changes and can also vote for proposed changes.

We decided to give the user the choice of a normal like, Superlikes and Dislikes. The functionality behind these will be as following:

1. Unlimited Likes
2. Limited amount of Superlikes and Dislikes
3. We plan to increase the number of Superlikes and Dislikes based on the amount of followers an individual user has as this is a good indicator how well a user is connected in the SocialX community.
4. The amount of Superlikes and Dislikes is reset daily with no rollover.
5. Only Superlikes and Dislikes count into the reward system; normal likes will only show appreciation to the user
6. The Dislike function is to identify spamming, low-quality content, license abuses or inappropriate content.

If you have any other questions, please send us a message or write us via Telegram.