Cosmochain (COSM)

What is Cosmochain

The cosmochain ecosystem comprises three different asset classes: two tokens managed by the blockchain (Cosmo Coin / Cosmo Power) and a third in-platform index (Cosmo Level) for expressing the contribution level within the platform.

• Cosmo Coin is the primary medium of economic activity and exchange within the Cosmochain platform. To companies, Cosmo Coin is used as a means of payment for utilizing various solutions within the Cosmochain platform. To individual users, Cosmo Coin is used as a means to purchase Cosmo Power necessary for in-platform activities, and acts as a medium of exchange to convert Cosmo Power acquired from activities into other currencies.
• Cosmo Power can be obtained by conversion from Cosmo Coins or through community contributions (e.g. posting reviews, upvoting and downvoting posts), and it represents level of contribution to the platform.
• Cosmo Level is an indicator and measure of a user’s contribution to the Cosmochain community. Cosmo Level is determined by the total amount of Cosmo Power accrued in the allotted time window.

From a user's perspective the platform has five key features:

• Social media / Community platform. Users are able to upload and view content, while other users can vote, write comments or repost to their personal pages. Each uploading of content is regarded as a contribution to the Cosmochain platform and responses from other users will be evaluated automatically by an internal algorithm, which will decide how much Cosmo Power or Cosmo Level will be rewarded
• Participating in company-sponsored projects. In addition to the basic information provided by platform participants, companies can initiate sponsored projects when in need of extra data, surveys or tests. In the “Project” tab, users can see the current list of sponsored projects, Cosmo Power to be rewarded, qualifications to participate and other information.
• A marketplace, where participating companies can sell their products. When a transaction is made, payment is made with Cosmo Power, and companies can either convert it into Cosmo Coin and then into fiat or use Cosmo Power freely within the Cosmochain platform.
• Data submission. Participating customers can provide their personal dermatological and cosmetics-related data and if companies access the uploaded data, customers receive a preassigned amount of Cosmo Power.
• Personal account management, Cosmo Coin / Cosmo Power conversion, and provision of platform information.