With cyber.Fund using Steemit as a template, Voice is intended to cater to the uniqueness of the Russian people, as contributions to the Steemit website are primarily in English, although there are posts in a few other languages. In an official release by Bitcoin Conference Russia, cyber.Fund stated that they looked to create a decentralized social network for authors, bloggers and journalists to be able to publish their work, leveraging the immutability of the blockchain to circumvent censorship.
Steem is a new class of cryptocurrency that is generated by the activity of the people on its social media component. It’s similar to Reddit, Twitter, Instagram or Facebook, in that users can make and comment on posts, upload images, and post links to streaming video or audio, but unlike these social media platforms, users creating and curating the content are paid for their efforts, as their participation generates the cryptocurrency applied to their wallets.
Users are rewarded in Steem for posting their own content, curating others’ content by commenting and upvoting posts, holding Steem Power, which increases by roughly 1% a day, and can function in a way similar to an annuity that pays out in 104 installments over a two-year period. Some users can opt to become witnesses to the underlying Steem blockchain, along with all users being able to transfer Steem to another’s wallet without any transaction fees.
The growing market capitalization of Steem since it’s introduction earlier this year has proven the concept of another avenue of introducing new people to the use of cryptocurrency, which has generally appealed to first adopters of new technology and bitcoin enthusiasts, people who were very technical due to their work as programmers, web developers, online marketers, and the like.
Similar to Steem Power, Voice’s tokens will be known as the Power of the Voice (sounds like a direct translation from Russian). A crowd sale is planned for Oct.15th, which is intended to facilitate the even distribution of the tokens, with a small percentage being reserved for contributors during the first month of operations after the official launch.
Detailing the distribution of tokens initially, the announcement added:
In order to ensure uniform distribution of tokens, 60% of them will be distributed during crowd sale, which is scheduled to start on October 15 this year. Another 3% Powers of the Voice is reserved for the first month of the social network operation for those who want to contribute to its development.