ChainX Exchange
Published in

ChainX Exchange

POP Network Token (POP) IEO on ChainX

About POP Network Token (Website : https://thepopnetwork.org)

Background

How many online videos did you watch today? How many songs have you streaming this week? Most likely, the answer is “a lot”.

The internet has evolved into a huge streaming media platform.

The $320 billion streaming economy accounts for over 80% of all internet traffic and touches every aspect of modern society. No matter the language or geography, streaming media is critical human infrastructure. It reflects who we are and shapes who we will become.

This is the function of “pop culture”.

From Beethoven to Beyoncé, mankind has used technology to share the human experience. The printing press, phonograph, radio, television, and so many more revolutionary technologies have changed how we view ourselves and the world around us.

The pop culture technology of our time is streaming media.

Problem

Curiously, as the world gets bigger it seems control of streaming gets smaller. Massive centralized corporations like Google, Facebook, and Amazon control the lion’s share of global streaming infrastructure. Because of that, they practically print billions of dollars every year simply sharing the media that others create.

Near monopoly power allows dominant platforms to squeeze creators for an ever-increasing share of profits leaving those creators increasingly marginalized. At the same time, opaque and arbitrary platform rules around monetization make it so many creators, even if they have millions of fans, are not able to generate profits at all.

Consumers continue to express their frustration with the status quo as well. The viral growth of adblockers is a direct rejection of the advertising-supported revenue model.

And, the biggest television shows and movies are always available on illegal file sharing sites as consumers seek alternatives to costly subscriptions and arcane territorial restrictions.

It seems the only winners in the current system are the centralized platforms themselves. But, with the invention of blockchain technology, everything is changing…fast.

Opportunity

The traditional streaming media value chain is being disrupted as power shifts from aggregators & platforms to content creators & their social networks. That means over a quarter trillion dollars is up for grabs as the old gives way to the new.

For incumbents, blockchain is a threat. For insurgents, blockchain is a once-in-a-generation opportunity.

POP Network is a decentralized ecosystem of blockchain & AI applications built to create and capture value from this radical transformation. Core components include:

  • Superdelegated Proof-of-Stake Blockchain
  • Artificial Intelligence Content Moderation
  • Decentralized Content Distribution Network

The system is designed to meet the demanding needs of mass-market consumer dApps (decentralized applications) with a no-fee user experience made possible by a dual-token cryptoeconomic model. The POP Network Token (“POP”) is the native utility token used to stake, secure, and govern the system while the Legitimate Interchange Token (“LIT”) is the stable operational unit used for internal transactions.

Given the ability to monetize content with blockchain efficiency and align community incentives with a native token, media that held little value in the legacy system could flourish with the support of a passionate audience on POP Network.

The dream of “The Long Tail” is here.

“The Long Tail” is a concept crystallized by Chris Anderson, editor-in-chief of Wired in 2004:

“The theory of the Long Tail is that our culture and economy is increasingly shifting away from a focus on a relatively small number of “hits” (mainstream products and markets) at the head of the demand curve and toward a huge number of niches in the tail. As the costs of production and distribution fall, especially online, there is now less need to lump products and consumers into one-size-fits-all containers. In an era without the constraints of physical shelf space and other bottlenecks of distribution, narrowly-targeted goods and services can be as economically attractive as mainstream fare.”

As the Internet moves from a primarily text-based medium to an audio/video-based medium, the impact of this transition cannot be overstated.

Imagine a native-language YouTube or Netflix for fast-growing digital-first countries like Indonesia or Vietnam. Or, think about musicians in China streaming on a native-language Spotify built for the expat audience in Africa. The traditional streaming media value chain has no place for this kind of content as it is deemed too costly to create for an audience that cannot possibly return value on the production investment.

By marrying a hyper-efficient blockchain monetization model with a peer-to-peer distribution framework that brings distribution costs to near-zero, POP Network is tapping into the same insight Reed Hastings of Netflix and Jeff Bezos of Amazon have made driving their respective companies: The Human Race has entered into the era of mass customization.

The difference is that instead of all the power and rewards resting in the hands of global corporate behemoths, POP Network aims to democratize access.

DRAG. DROP. DECENTRALIZE.

POP Network is a user-friendly ecosystem of blockchain and AI applications built to power the streaming economy. Our vision is a universal system for turning attention into real-world goods and services.

THE CURRENCY OF CULTURE

POP is the native cryptocurrency of POP Network. This tool helps us decentralize the streaming economy and put the power of the network where it belongs…with you!

Smart Contracts

POP Virtual Machine (“PVM”) is an efficient, secure, and scalable Turing-complete SDPOS-ready virtual machine developed for the POP Network ecosystem.

Based on the Ethereum Virtual Machine, PVM leverages existing development resources and provides familiarity to the expanding global community of blockchain engineers. Rather than learn a new language, developers can go from concept to completion with Solidity using a common Remix environment.

Because PVM uses LIT earned from staking POP as the internal token, transactions are effectively free on POP Network much like TRON and EOS.

Decentralized Content Distribution Network

The purpose of POP Network is to create a fair system of media distribution which creates value for all participants in a way that was simply not possible before blockchain technology. This goal can only be realized with an effective decentralized content distribution network.

After AI-enhanced moderation, content is sent for peer-to-peer distribution. Media files are split into small pieces, encrypted, and scattered across multiple Masternodes. No single entity has total possession of any piece of content and redundant data is stored across different locations.

Current tests show up to 29.57% of Masternodes could fail, leave, or otherwise face attack at any given moment yet with redundancy POP Network would still function and fully recover.

Content is reassembled on the fly in the Media Player from Masternodes and Ephemeral Masternodes. Every device playing a piece of media has the potential to become an Ephemeral Masternode, thus growing the network with every stream.

Since Masternodes are a critical part of POP Network, each node must possess 50,000 POP (currently ~0.8 ETH) as disincentive against malicious behavior.

POP Network is a Decentralized Infrastructure for the Creator Economy

You can participate IEO and check more details from this website (https://chainx.kr/)

--

--

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
ChainX

ChainX

ChainX exchange official Medium.