Idol’s Medium Mondays: What is Idol? [IDOL_MM_000]
What do you think about when you hear the word “entertainment”? Traditionally, many people will jump to the thought of arts such as singing, acting, or dancing. However, with the rapid growth of the Internet, entertainment has become much more than that.
In an increasingly digital world, the barriers between people of varying societies and cultures have quietly been eroded, slowly transforming the idea and definition of entertainment. Presently, anyone with a set of skills is now able to create content and cultivate a niche fanbase or following. With the introduction of blockchain technology, we are on the cusp of a new era, where what used to be the norm will now become the outdated. However, the current state of blockchain presents two major issues that prevent it from being widespread: scalability and mass adoption. Idol hopes to implement blockchain technology to not only provide beautiful and seamless high-level solutions that solve these issues, but to also innovate new and improve on current business models that will ultimately shift the global landscape of entertainment. At Idol, we believe that only when the complexity of blockchain can be presented in simplicity can it truly be adopted by the mass populous to revolutionize the world.
So, what is Idol?
To begin, we must answer a few questions: what does it mean to be a fan? Conversely, what does it mean to have fans? Being a fan of someone (or something) is no longer limited to what we have typically considered to be traditional entertainment. Rather, innovations in technology have drastically reduced the barriers to engagement between people all around the globe: anyone with a skill is now able to create content and share it with the world. However, there are many barriers of entry to becoming a content creator, particularly for newer and less experienced creators.
To solve this, Idol will be developing a network that allows its participants to fully utilize this new way of business while also being able to take advantage of the benefits that a technology like blockchain offers. Idol utilizes the Stellar network, combining it with distributed file sharing and storage pioneered by IPFS and Filecoin to allow for the cheap, fast, and secure transfer of tokens and distributed sharing and storage of data. Created tokens will be automatically listed on Idol’s decentralized exchange, providing the maximum level of security for the network. Idol also takes references from the community framework of projects such as Hyperledger, Ethereum and EOS, allowing complex smart contract logic to be seamlessly designed and deployed as beautiful decentralized applications that run directly on the Idol Network, all while building a thriving community through various developer programs, proper documentation, and an easy-to-use application programming interface. Put simply:
Idol is a public blockchain project that enables the tokenization of anything and gives anyone the tools and ability to design, develop and deploy decentralized applications without the need for prior experience in a way that is truly intuitive, simple, and accessible.
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