A social network having a decentralized reward system: HEARTBOUT
The HeartBout is a social network having a decentralized reward system. It is entirely based on a blockchain technology. The applicants who are taking part in the system such as creation and promotion of content, will gets a rewards in the form of cryptocurrency of the company. The HBC tokens can be utilized to spend on promotion of a publication such as advertisement. It represents that as much time an applicant spent on the social network, the more they have an opportunity to receive more coins. Any applicant gets an easy access to cryptocurrency and their own wallet after registration in the company. The network monetizes activity of applicants for publications, votes or comments providing issuance of HBC through its advertising capabilities.The advancement of the company includes 4 quarter in 2017 which includes adjusting application design and adapting to iOS 11, start of blockchain designing, formation of technical specifications for the advancement of the advertising engine, registration, tape, search, create and edit categories, profile, editing, settings, creating a publication, analysis of Steemit blockchain and a advancement of blockchain on the basis of fork stream.The advancement of the company includes 4 quarter in 2018 too.
The first quarter includes the advertising promotion design in the application, design of the wallet, advancement and streaming videos, creating of the final post, activity, chat, call, animation, testing, beta version and advancement of blockchain using fork Steemit. The second quarter includes the finalizing, testing, release of the application in June and advancement of the android version. The third and fourth quarter includes the launching of the advertising engine, release of the android version, analysis of the possibility of integration of other advertising types into the application and formulation of the technical tasks for the advancement of other types of advertising. The price of the token is mainly dependent on the success rate of the company. In the US, the mobile native spending 168 billion dollar on advertisement in 2016 while it increased to 209 billion dollar till 2017. The expected increase is 252 billion dollar in 2018, 289 billion dollar in 2019, 335billion dollar in 2020 and 363billion dollar in 2021. The decentralized reward system includes the emission, reward to author, reward to voter, voting with cold heart, power of heart, reward for applicants during bout and miner reward. The input of activities related to the applicants is transmitted in the direction from the application to blockchain such as, set hot hearts and cold hearts, leave publications and comments and DAU.By using the HeartBout server, Heart Bout client and the Blockchain Heart Bout stay connected with each other. From the Ethereum blockchain to the HeartBout blockchain the transferring of token facilitate by the token transfer program which is a software that performs logical operations. The accounts of applicants become activate in the Heart Bout application after the registration in the initial coin offering. The central server of the company is mainly responsible for the maintenance of the consistency of the applicant accounts input base during their registration as well as authorization.
The issuance of HBC tokens is done on a daily basis. All emitted tokens during the day are distributed between authors, voters and miners. The issuance of HBC tokens, is limited to 200 per day. Voting with hot hearts affects the amount of emitted HBC tokens. Voting with cold hearts does not affect the emission, but can recover the power of “hot hearts” of the voter.
The author of a post or comment gets 65% of the HBC tokens from the total emission. The award from a publication depends on the number of positive ratings — “hot hearts” and their power. The calculation takes into account “hot hearts”, received in the 24 hours after publication.
The reward for voting with a “hot heart” is 15% of the HBC tokens from the emission for voter. The reward is distributed between users, who voted for the publication, subject to sequence number, “hot heart” and its power. To prevent attempts to drive up hot and cold hearts, a special mechanism is used to limit the amount of hearts available and the power of hearts, by establishinges a dependence between the number of used hearts and their power.
The miner’s reward is 20% of the HBC tokens from the emission when blocks in blockchain are made in accordance with the schedule. Blockchain Heartbout is able to make a schedule for the production of blocks every 3 seconds among the 21 delegates according to the rounds.
Reward for participants during bout.
Bets are placed by a challenger and must be confirmed by another participant. Thus, the prize fund is formed and consists of the challenger’s and the recipient’s amount of tokens. The winner gets a prize fund minus a commission for HeartBout social network.
- The name of token: Heart Bout Coin
- The maximum number of tokens issued for sale : 44,197,720
- The sum of the maximum collection amount of ETH : 6 440
- The kind of token: ERC20
- The price of token: 0.051 $, 1 ETH (at the dollar rate 1 ETH — $ 350) = 6 863 HBC
- The minimum purchase sum: 0.1 ETH
- Crypto currency for payment: ETH
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