On Aug 20, our Co-Founder & CEO Mick, VP of Product Zac, Senior BD Director Jackie just had an AMA session with Atomic Wallet community in their Telegram group. Let’s take a look at what Mick (M), Zac (Z), and Jackie (J) had to share and some questions from Atomic Wallet Community members (Q).
Read the full AMA text below. (This AMA has been edited and condensed for clarity.)
Q1: 1)How can we get money from Contentos, according to our number of followers or views? 2)Are pornography and violence filtered on COS.TV? 3)Are the videos/shows we make copyrighted to prevent plagiarism?
- Create good content and make more audience “like” your content or send you GiftingVote.
- It’s the universal problem in all content platforms. Beside having AI type of way to fight it, the best way to prevent it is to have the community work together, then reward the correct behavior and those who help to identify inappropriate content.
- There are many existing technologies to check copyright violation, but the core problem is how to give the reward back to the creators after identifying them.
Q2: Contentos has a lot of achievements in TestNet and will release MainNet. After launching MainNet, what strategies do Contentos have to make COS more valuable in terms of increasing the number of players and what apps are you integrating to expand your ecosystem?
M: Good question.
- Expanding and converting as many potential users from our existing partners’ apps as possible. This enables COS to be held by many users globally.
- Educate users so they understand the value of Contentos and COS, then move advertisers into this ecosystem. We have actually already done this by having some DApp game developers such as MixMarvel and Harmony post their DApp games on COS.TV, this requires DApp game developers to pay with COS. Once true demand of COS ramp up, the value of COS goes up.
- Getting more top tier content creators on board, we have been working with many YouTubers such as Joey Salads (2.5 M youtube subs). We will get more.
Q3: What is the business revenue model of Contentos?
- COS will be used to buy something we call “GiftingVote” in the ecosystem, the more GiftingVote you’ve received from others, the more ecosystem reward you will get from your content. The revenue from selling GiftingVote will be distributed to all block producers as the shared profit.
- Selling website traffic. On cos.tv, we are selling top spot for DApp developers to promote their DApps, buying this spot requires COS.
- COS will be the fuel of getting Smart Contract running on Contentos virtual machine, which will be the core of powering content business such as purchasing content from creators or doing business between content creator and advertisers.
Q4: What are the benefits of becoming COS tokens holders /Investors?
- COS has a fixed supply: 10B. and it will be mined via content creation in the next 12 years.
- COS holders will be able to participate in on-chain governance. For instance, elect a Block Producer. BP then can enjoy not just mining reward, but also the revenue from selling GiftingVote.
- COS is the only utility token in this ecosystem when more and more of our 60M existing users are converted into this ecosystem, the demand of COS will rise for sure.”
Q5: Who are the biggest competitors of Contentos ? and how you can beat them?
There are several similar content blockchain projects, but none of them have the advantages we have (Product, Content, and Users). I will say true competition is fighting against YouTube or Instagram. After all, if we build a content app, it needs to be used by users, not just for crypto investors.
Q6: What are the minimum requirements to run a complete node of Contentos?
Actually, it’s pretty low spec. m5.2xlarge can do the work!
Q7: Contentos has existed for a long time, and players earn lots of COS token but some people are confused if COS can be fiat or not. How will you deal with it in the future?
During the past year, we’ve done some gamification with our Dapp partners, giving users a chance to earn COS token just like game points. And when we got listed on Binance DEX, suddenly the game points had value. So that’s our approach to educate a massive number of users to give cryptocurrencies a try. We have successfully brought many users from traditional apps to the blockchain world. And we’re trying to make a greater impact. We hope one day, COS can be the standard token for creation world.
Q8: Why are Viewing, Light Engagement, Heavy Engagement, P2P Support these four levels of support so important?
Engagement, I see this as a way that an audience wants to engage with a content/creator. from the lowest to highest. and the value will happen when the engagement happened. An example is an advertisement. If a creator makes a video which promotes a product, only those audience show high engagement can have a better chance to be converted into product buyer, which creates value to the advertiser who paid to creators.
Q9: What is the main role of Contentos tokens?
COS is the only utility token circulated in the Contentos content ecosystem. The main usage of COS will be the followings :
- Governance. Similar to EOS, Contentos is using BFT consensus mechanism (we call it saBFT ) which requires 21 Block Producers. You need to hold enough COS then can join the election as the BP, so does anyone who wants to cast the vote.
- P2P creators support such as subscription, donating via virtual gifting.
- The “Fuel” to acquire extra computing power in a virtual machine. Contentos has WASM virtual machine and can execute a smart contract, by default, everyone has a smart amount of free points (we call it “stamina”) to run smart contract, but if you run out of stamina, you can use COS to get more.
Q10: Would it be possible that instead of moving to your own blockchain you would move to another one in the future?
It’s about a month towards Contentos MainNet launch. We’ve prepared this for more than a year making sure the design fits content industry the most. Of course, there would be novel technology emerging in the future, and we can definitely cooperate with other top blockchain projects just as we do now. We’ve partnered with Harmony, TomoChain, just to name a few. And since Contentos is fully open source, we’d love to receive suggestions from developers to help us make the blockchain system better.
Q11: What critical problems do you see occurring in the blockchain industry nowadays? How does Contentos aim to solve these problems?
Massive adoption is still the issue, you can see so many high-performance blockchains, so many DApps, but less real users who are using them. that’s why our team believes we need to educate and convert global users about blockchain, that’s why we started with products like Photogrid. We believe the more people try COS, the more people will start using it, then it will help the whole blockchain industry solve the most critical issue: user acquisition or get massive adoption.
Q12: Sometimes We hear TWITTER DOWN, TELEGRAM DOWN, WHATSAPP DOWN. How will Contentos avoid this problem?
Centralized content platforms suffered from this type of issues all the time. I won’t say blockchain or a decentralized system won't have such issue since as long as there is a website runs by a machine, chances are it might happen. However, the best thing with a decentralized system is that data will never be lost or changed after downtime.
Q13: What advantages do you have over your competitor projects that are working on the same model? Do you have any plans to expand your project in the international market? Especially in India? What is the consensus algorithm used by the project and how was it picked?
I will say any content ecosystem, either centralized or decentralized, needs to create a good product and have real content creators to work with it.
so Contentos has its very unique advantages:
- we already work with 3 major content apps, PhotoGrid (photo), LiveMe (live streaming), and Cheez (video).
- These apps came with a large amount of content and creators worldwide.
- These apps have a large user base. These advantages are something you cannot see in most content blockchain projects.
Q14: Can you briefly explain how the top milestones that the Contentos team aims to execute before the end of this year or going to execute in the future? Will these help Contentos succeed? What Contentos may look like in 2020 and beyond?
- 9/25, MainNet launch event.
- End of this year, we will list on more major stream crypto exchange.
- Next Q1, CET feature will be used by many creators and there will be a content exchange built on top of Contentos.
Q15: How did you select strategic partners and early investors? Can you put some light on your partnerships right now?
We’ve been lucky to have great investors to back us. Some good news for their extended support today.
Strategic private placement to support COS long-term development.
Content Public Chain Contentos (COS)’s strategic investors have jointly announced retaining a total of 317M COS locked…
Q16: Why use Contentos and how will Contentos attract creators?
Great question! I and my team came from the background of content creation, and we worked with many top tier YouTuber in the past few years, ie: Roman Atwood, David Dobrik, etc.. we also worked with many top-tier global MCN companies such as FullScreen or Studio 71 which gives us a unique understanding of content creation business.
We know the current issue to them is the control of the centralized content platform. The control came from Algorithm, which is the thing that controls everyone’s watching experience (the “recommend to you section on YouTube, for instance). This part is the thing that why most creators get less revenue. which we believe Contentos and blockchain is the way to fix it since the content data will be transparently recorded on-chain. I have a new article to talk about this, you can take a look:
Why we started Contentos?
This is a question I often get. So allow me to borrow a few minutes of your time as I unravel the origin story of…
Q17: Hello, I just discovered your project, I think it’s innovative because what I have been able to show is that you focus on promoting the content of ordinary people. 1) How has been the acceptance of the COSTV ecosystem? 2) And what solution does COS propose to verify the copyright of the content creators who use the platform? 3) Can you explain in a simple way the immutable credit system that COS uses?
- The data will tell. Our website traffic is getting up very fast.
- Copyright issue can be fixed with the content hash, but this just one of the issue, the core issue is how to help the creators to get value back from pirating. We have the design to resend the reward to the content owner.
- Everyone needs to be responsible for the action, in today centralized content platform, you can report content and platform will review then perhaps ban the content if it's inappropriate. In a decentralized world, we need to have a community to take a look and make the final call, this decision should also be recorded on-chain.
Q18: What is the revenue model of Contentos for creators? From where Contentos generates revenue? Like — Advertisement, etc?
Creators get 50%, the other parts go to block producer and DApp developers. We are a blockchain, so we don’t get revenue shared.
Q19: Is there any running DApp of Contentos? If yes, then please mention the names?
You can check out current 4 DApps run on our test-net:
Q20: I love the name of the project Contentos means Happy in Spanish, does the selection of the name have Latin raises? Where does the idea of sealing the name of the project come from?
Exactly! Contentos means happy. We want the users in our ecosystem to be happy through a more fair revenue sharing model. Contentos also stands for Content+OS, the operating system of Contents. 😋
Q21: What are the differences between Contentos and other platforms?
How can we earn income using our memories & content?
The way to earn COS is (1) creating valuable content and earn lots of positive feedback from the community. (2) making a contribution to the content ecosystem. from 9/25 after main-net launched, you will be able to earn COS from many content apps we worked with.
Q22: Why you named your TestNet roadmap versions like PanGu, Mercury, Venus, Mars, Jupiter. Is there any reason behind that? Also, in TestNet V.0.3 you mentioned CET creation enabling tokens. What is the use of those tokens on Contentos’ platform?
Like a way to travel in the solar system :). CET is Creation Enabling Token, which allows content creators to issue their own token on Contentos. We’ve used a testing DApp called “Walkcoin” to issue its own token and confirm it works. Later we will build a product which allows creators to issue their own token.
Q23: With Facebook has integrated a lot of features such as video, Livestream, page, chat, … So in the future, will Contentos develop more new features? If Facebook’s Libra project is agreed, will Facebook be similar to Contentos and a huge competitor to Contentos?
Actually, I see FB Libra as a good chance to Contentos instead of a threat. Libra is a stable coin and targeting helping developing countries people to get easy banking service. And COS is helping creators to earn more value from content.
Libra Offers Growth Opportunities for Contentos
Libra, a stable virtual currency from social media giant Facebook, has finally arrived.
Q24: What is the value proposition Contentos has for content creators that will make them join the platform?
The content ecosystem that fairly rewards your creation. No middle man, no black box rules, and no constantly changing revenue sharing policy. You just be yourself and create the best content.
Q25: As a user, I can send copyright strikes to any cheater who is copying my content. How it can be possible if I’ll use your platform?
Reporting system. In today, you can only send strikes to YouTube or Instagram and hope these platform’s moderators will take down the content, but if there is any revenue generated previously, you cannot get it. But in Contentos, if you report confirmed by the community, the reward you have a chance to take it back.
Q26: Can you please explore about immutable credit system and how it is beneficial for content creators on Contentos?
Users will only be eligible for ecosystem reward when their credit is in normal mode. Therefore, users would tend to behave well in order to receive the reward. Please refer to Contentos white paper page 21 for detail.
Q27: How you solve the Security, Scalability and Liquidity Problems?
- Encryption based on cryptography to ensure user security
- We achieved the saBFT consensus, which greatly improved TPS and shortened the confirmation time compared to PoW/DPoS/BFT.
- The privacy of data is currently open and transparent in the chain. For the content chain, we feel that privacy protection under the chain or in the contract will be a better solution.
Q28: Is there a timeline for the ERC20 COS swap to BEP2? Because the ERC20 still trades on Bilaxy. When will we see COS own chain?
Currently, there is no hard deadline for the swap of ERC20 COS tokens. However, the circulation of ERC20 COS token is little to none. So we highly encourage ERC20 holders to swap their tokens to BEP2 for higher liquidity.
COS MainNet is scheduled to go live end of Sep 2019 and native COS tokens will be available shortly after. More details will come afterward. Stay tuned.
Q29: Do you have plans to partner with other decentralized blogging platforms? To promote video contents? Is there any burning program of COS token in the near future? Because of supply are too high.
Contentos has achieved strategic partnerships with many projects ( Harmony, MixMarvel TomoChain and etc.) There will definitely be more to come as we expand our global reach. Stay tuned for more!
And we are exploring all sorts of content related partnership. If there are any partners that you think we should approach, let us know!
Answering your question on the supply, we are releasing supply slowly and steadily to ensure it is sufficient in circulation to facilitate the growth of Contentos platform. Our strategic private investors are all with us, showing their support by their willing lockup! Read more about it here.
Strategic private placement to support COS long-term development.
Content Public Chain Contentos (COS)’s strategic investors have jointly announced retaining a total of 317M COS locked…
Q30: What would motivate large companies to adopt Contentos vs using their gigantic resources to develop in-house technology (or copy some of the existing blockchain projects, it’s “open source” after all)? Would smaller IoT companies have the foresight and resource to adopt the Contentos platform?
Large companies can definitely build their own products and we gladly welcome them to do so. It promotes the usage of blockchain technology in general and will benefit the entire ecosystem. It's just like you have Apple, Samsung, and many companies all building smartphones and everyone having their own uniqueness. That is required in a healthy competitive market.
Companies that do not have the resources / do not want to manage that high a risk to create a new blockchain component can definitely partner up with us to explore opportunities.
Q31: What about Chinese regulations, does that affect the way companies have to buy tickets to use the platform? If a company is based in a regulated country, can they still use the platform? Would you be able to tell us what your plans are beyond the release of new platforms? What can we expect in the next 5 years?
I think not just Chinese regulation, many countries have their own regulation in terms of tokens, and we will respect these regulations. For instance, we never did ICO.
As for the next 5 years, we have a large number of potential users and creators already, which means once our main-net launched, we need to focus on user conversion instead of finding DApp developers or users. We are very few projects has this advantage.
Q32: Do you have plans to partner with other decentralized blogging platforms? To promote video contents? Is there any burning program of COS token in the near future? Because of supply are too high.
We are building our community step by step. So far we are doing good in Vietnam, China, Japan. We’re also exploring Brazil with our Dapp partner PhotoGrid. We made a pilot run of creation reward for Brazil creators using PhotoGrid and achieved a promising outcome.
Q33: Is there any live streaming app is live which works on Contentos?
LiveMe, #1 mobile live streaming app in the USA and many countries, LiveMe will start main-met adaption in Q4.
Q34: 1) Why the name project Contentos / $ COS? 2) What reason for us should invest or buy into this project? 3) What problems do Contentos try to solve?
- Contentos stands for Content+OS, operating system of contents, and means happy in Spanish. We aim to bring happiness to our users.
- Contentos has real users and a strong partnership that can further strengthen the mass adoption of blockchain technology.
- Revenue and traffic are controlled by centralized content platforms. While they pursue the maximum income, it’s always content creators and audience that suffer from unfair revenue cutting or bad viewing experience due to ads or unwanted contents.
Q35: Did Contentos fully protect the content creator? And you will do that? And how you will protect funds of the seller or the buyer, and make sure one of them is not a scammer when they’re doing the transaction?
We have built a user credit system directly into our blockchain. Users would tend to behave well otherwise they will not be eligible to receive ecosystem rewards. Check our white paper for detail. Page 21.
Q36: When should we expect the iOS version of Cos2040 game? I am an iOS user and I feel bad not been able to join the battle.
As I know, the developer is doing really hard getting it on the app store. So just stay tuned. It should be ready soon.
Thank you, everyone! Love to chat with you. Stay strong, stay safe and stay with Contentos!
-Mick, Co-Founder & CEO of Contentos