LikeCoin (LikeCoin)

LikeCoin aims to realign creativity and reward by tracing the content footprint and rewarding content creators via a Proof of Creativity mechanism.

Whitepaper

Onepager

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Interest lvl

NA

Updated: May 04, 2018

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User Rating

Medium

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Ticker

LikeCoin

Type

Utility-token

Token standard

ERC-20

Registration countryHong Kong

Registration year2013

Ecosystems

Ethereum

What is LikeCoin

LikeCoin is based on two protocols: the LikeCoin Attribution Protocol and the LikeCoin Mining Protocol.

The Attribution Protocol is responsible for distinguishing the content footprint. This is made possible with the use of:

• A decentralized creative content library based on IPFS. A LikeCoin service provider plays one or more roles among original creator, content adopter and content distributor. Original creators curate creative contents and record the data on blockchain for other content creators to use. The content creator and the service provider both get LikeCoin as an incentive when a content is Liked or Super-liked.
• Content fingerprint and metadata hash written to the Ethereum blockchain with the private keys of the service providers through a LikeCoin smart contract.
• Metadata objects.

The LikeCoin Mining Protocol is responsible for determining the importance or creativity of content. This measure is called LikeRank.

LikeCoin platform aims to reinvent the Like button. Their button is designed to serve two similar functions. By tapping/clicking the Like button for 1 to 5 times, or long pressing/hovering then dragging the cursor to 1-5, a user shows his appreciation and helps the content creator to mine LikeCoin from the Creators Pool. If the user appreciates the content a lot, he may go to the “Super Like” tab to pay the content creator a certain amount of LikeCoin from his own wallet.