Media Protocol
A great majority of the population of the world depend on the internet in one way or another in their activities be it in the form of business, communication even in terms of leisure and entertainment. This may provide an opportunity for various interested parties to promote and advertise their services in an effort to take advantage of the opportunity that arises from interactions with different users on the internet. As would be expected, the interaction by consumers to the various products on the internet generates revenue to the centralized involved parties while no payment to the consumers for their contributions to the overall result. The emergence of the debate on how to ensure fair compensation to the consumer while also improving their internet user experience through interaction with online information that interests them while minimizing as much as possible viewing of unnecessary and possibly annoying promotions on the internet. This necessitates the use of the Media Protocol that is centered interested in changing how information is distributed between the various parties involved in the production, distribution and consumption of a specific product and how the revenue generated from these activities are fairly distributed to all the involved parties.
Media Protocol in the content market
MEDIA protocol is a formula through which different parties exchange information, cryptocurrency and incentives in the distribution and consumption of content while maintain the principle of fairness among the involved parties. Based on an ERC20 token, promotes recognition of content consumers in reception, consumption and distribution of content on the internet. This is possible through its use in application that support the protocol as a way of distribution and consumption of information with token compensation for content consumers. This important aspect of compensation of the consumers for their viewing and various activities on content is the main driving force behind it. A content publisher would publish their content on the internet and post the accompanying URL on any popular network site while giving payment to the network in hope of a potential consumer viewing it and taking a liking enough to click. This is prejudicial in its way of implementation as it promotes uncertainty in the idea that the potential consumer would get while also leaving guesses as to whether it would leave a bad taste of the content being annoying in the sense of being irrelevant therefore reducing the enjoyment of online activity and interactions
Content consumers carry out different activities such as viewing, sharing and liking or showing indifference among other things and this provides data to the content publishers. The use of the MEDIA protocol in third party application allows for direct interaction of publishers and consumers for such valuable information in contrast to the old system whereby large corporate companies that store such information sell it to the various sources thus profiting from the transactions while not giving anything in return to the consumers. This also places somewhat unnecessary costs on content producers to know what consumers are interested in. The Media Protocol system provides an alternative route whereby the direct interaction between the publisher and the consumers optimizes use of budget while trying to ensure proper focus in the direction of content to provide to consumers. All this is observed while providing incentive to consumers through payment in form of cryptocurrency to continue viewing and promoting the content to other internet users and this enhances the reception of the product. This effective feedback mechanism improves the interaction between parties while also improving relations and quality and mass of content generated to the specifically targeted audiences. This promotes trust and loyalty while also improving relevance and interactions.
CryptoCatnip
The protocol is run on applications with the prototype demonstration being on the Cryptocatnip app which is available for both android and iOS platforms that allows for its easy implementation and use of cryptocurrency activities at the click of the screen. This allows third party applications to implement the protocol into their infrastructure and also have potential benefits in terms of fess paid during transaction by users and publishers as well as promoters as compensation for providing a medium through which the various activities of content such as hosting, advertising, liking and sharing are carried out. On these applications articles, videos, blogs and even podcasts can be viewed and meaningful feedback from the consumers to the publishers generated therefore improving the user internet experience with the intended services reaching the intended targets. The third-party apps are also encouraged to implement different features to Cryptocatnip in order to provide new possibilities to the implementation of the MEDIA protocol which may include ways of sorting the information on the network and interactions between various parties as well as how data is generated and shared on the network. Various mechanisms are also in place to prevent malpractices on the network such as bots who generate false data through spamming of activities in a bid to generate consumer revenue.
Content beyond the mainstream market
MEDIA protocol provides a medium for minor communities and parties to consume their needed content away from the popularly promoted content on major networks. This provides an advent for minorities to promote their work and reach other potential consumers of similar content that may not be possible on the major existing major social network sites. This leads to generation of wide fields of content with greater reach to new potential audiences in the form of blogs, culture and even music. This gives new ideas and interaction leading to new opportunities to publishers and consumers as content is shared and feedback given back. This reduces the cost and risks that would be involved processes of advertisement that tried to target small tribes that would also necessarily be interested in consuming or reacting to the content. With the MEDIA protocol, more vibrant and active groups are formed that are more involving in the necessarily minor field of content produced. Here the decentralization allows for publishers to publishers to coordinate groups according toothier interests and provide new content with the making of new topics.
Token Benefits
With the token generated by consumers through their various activities on the internet be it in sharing or giving feedback back to the publisher, various transaction may be made. They make payments to publishers in the form of subscriptions for their articles which in the process provides incentive to the publishers to produce similar content of various applications while improving quality based on feedback from consumers. This is through the giving of tips to publishers on quality and relevance of content and payment in turn from the publishers to the consumers. Payments are also made to the affiliates apps that make possible provide the medium for the various activities on the content which serves to enable the smooth running and support of the apps to ensure smoothness of activities and make easier the carrying out of activities and transactions on the platform. More possibilities arise as the token may also be exchange in outside-app activities such as exchanging them for other cryptocurrency which could be used in other external activities involving cryptocurrencies. Cumulatively, the consumer is benefitting in terms of monetary terms from the personal data they provide through their activities on the platform as well as availing data to the block chain as a way of improving relevance and quality of content provided as opposed to the conventional method of large corporate bodies storing large files of personal data and selling it; this provides transparency while improving assortment of data received from consumers.
Publisher and consumer interaction
Content publishers produce content in order for it to be viewed, appreciated and shared as well as reacted to. There is therefore the need for them to provide incentive to consumers for their contribution to making to the activity of the product on the platform. The publisher posts the URL to the product on the platform and the consumer clicks. Here, with each action of the consumers on the product, they may receive payment. Consumers may like and engage the content by giving their differing insights and immediate direct feedback to the publisher as a form of appreciation and constructive criticism. They consume the content as a way of being potential consumers of the products and monetary return for the publishers. They also provide an avenue to the publisher for additional promotion and advertisement of the content to other parties not yet possibly viewed the content on the internet and this increases its outreach to more potential consumers. Consumers may also provide important market information in the form of participating in surveys carried out by publishers as a way of providing important details on the content to be produced in the future in an effort to maintain relevance while improving quality. For each of these activities carried out by the consumers, payment is made in relation to the aforementioned amounts by the publishers. Thus, the budget application to each of the activities are done at the discretion of the publishers in relation to the time spent by content on the platform as well as activities done on them.
The protocol also applies various security mechanisms in place to ensure fair payment from consumer activity to prevent occurrences of spamming by bots through effective verification techniques that require external verification coupled with use of records to detect malpractices. This ensures security while providing new ways of detecting such injustices.
MEDIA Protocol is a system embedded in social platforms that allows for effective spreading of information to intended consumers while also providing compensation for consumer activity on the products. It is likely therefore the future of consumer centered online advertisement.
More information of Media Protocol and its token economics including its advantages can be obtained from their official website or through the following links
Website
WhitePaper
BusinessPaper
Pre-Sale Application Form
ANN Thread
Telegram
ANN Telegram
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