Introduction
Vyral aims to deliver its contribution period over two phases. Phase I will be to attain Vyral Master Nodes (those first and early contributors), and Phase II will be the Vyral Reward Phase, where those Master Nodes share the benefits of Vyral with their friends, colleagues and associates. Throughout this process, the technology that drives the Vyral Platform will be fully tested - and vetted - in a real-world scenario.
To explain: the entire Vyral contribution period is divided into these phases so that we can thoroughly test the platform, end-to-end, and ensure that the technology will support Vyral’s clients in the way that it was intended. We can rest assured that after the contribution period, the technology at hand is functioning and we can advertise it as a tried-and-true platform. Having a solution that’s already tested and functional is essential for marketing it!
This is an exciting time to embrace new technology applied to old problems, and Vyral aims to deliver on revolutionizing an industry. Marketing - and specifically peer-to-peer marketing - has the potential to be deeply shaken and restructured by the blockchain, and Vyral will be a deciding player in how that transformation takes place.
Let’s look at how the contribution phases will behave and interact, and how they’ll serve to demonstrate the Vyral Smart Contract is performing.
Vyral Chains, Master Nodes, Children, and Other Jargon
Core to the implementation of the Vyral Platform are the fashions in which the various players interact. First, a reward token in the Vyral Network is issued and through some efforts or others an organization (and in this case, Vyral itself) acquires its first ambassadors. When these people interact with the blockchain by using their unique Vyral Key, they’re confirming their involvement. These people then become the Master Nodes (or top-level ambassadors) of that organization’s peer-to-peer incentivization network.
Afterwards, most or all of these Master Nodes will start acquiring new signups who, in turn, will get their own Vyral Keys to attribute their work to the blockchain. These people are children of whichever node they were referred by, and can refer additional children underneath them, and etc. - and so we can build a Chain that tracks itself back to the Master Nodes.
Vyral Keys are how each action is tracked within the Vyral Network. When you or your referral complete an action and it’s recorded on the blockchain, it’s associated with the Vyral Key to attribute that action to the Node involved. This process can be easily achieved through MyEtherWallet or injected applications like MetaMask, and we’ll look in more detail about how to successfully use these tools to interact with a Vyral Smart Contract in another blog article that will be slightly more technical.
When people at various stages of the chain complete actions or refer others who complete actions, the blockchain records who’s done what how many times and rewards the people who referred them, recursively, as many times as the program’s organization has defined. Theoretically, you could receive micro-rewards for every single person in your chain that you’ve referred in a Vyral program - which many people believe is one of the easiest ways to build a ‘passive income.’
Think broader than your standard neighborhood salesman reward platform here - with the powers of internet marketing technology and the blockchain, we can literally incentivize any trackable action online. People could be rewarded for social media shares or views, watching videos online, or anything we can really conceive of.
Phase I: Vyral Master Nodes
First, we’ll have a look at Phase I of the Vyral contribution period. The first contribution phase, again, is where Vyral contributors are all the ‘first-level’ Master Nodes. This means a number of different things:
The early contributors are indeed the members of Vyral with the highest earning potential
As Master Nodes, early contributors will be largely responsible for the continued shared success they share with Vyral - and each other
Through their own efforts, early contributors ‘reap what they sow’ and will potentially see a huge return on their individual efforts
As early contributors, there will also be ‘additional rewards’ attributed within Vyral for being a Master Node.
Phase I of the Vyral contribution period is designed to behave in such a manner that:
Phase I ends when the first of any of these conditions occur:
A set hard cap is reached
A set number of Vyral Master Nodes is reached
A set period of time elapses.
Most Vyral tokens will be distributed during this phase
Tokens become immediately tradeable after Phase I is complete.
After the Vyral Master Nodes are determined and recorded irreversibly in the blockchain, it’ll be time for those Master Nodes to ‘strut their stuff’ and look to refer potential children into the Vyral Network. The more widely adopted Vyral is, the more rewards everyone gets! It’s truly a ‘win-win-win’!
Phase II: Vyral Reward Phase
Next, we’ll look at how Phase II of the Vyral contribution period words. There are no caps other than time for the Vyral reward phase, and it will be broken up into separate logical sequences of time. There will only be a certain percentage of Vyral Tokens that are distributed during this phase, in order to prevent the token supply from growing to the point where it dilutes in value.
Phase II of the Vyral contribution period is designed so that the Master Nodes - early contributors - who signed up during Phase I will be able to refer prospective children to Vyral. This will effectively test the entire Vyral Smart Contract, and ensure that everything behaves as expected. It will be a true measure in a real-word application for how the different pieces of technology work together.
Master Nodes will be encouraged to use whatever marketing strategies they see fit to spread Vyral to new children, and their efforts will have a direct correlation on the growth of their Vyral Chain. With more children - and when those children beget children of their own - the potential rewards for each node increase.
When successful, the entire end-to-end process can safely be applied to clients large and small who are looking to optimize their incentivization strategies and - using blockchain technology - find new and exciting ways to encourage and aid their ambassadors to succeed.
Conclusion
All in all, the Vyral contribution period is decidedly unique. It will serve to define Master Nodes, encourage them to market and share Vyral with children, and effectively test the platform.
In short, Vyral will be integral in removing middle-men from marketing platforms and thereby reducing costs, decentralizing reward systems and thereby making them more fair, putting these systems immutably on the blockchain for transparency, giving reward systems liquidity by tokenization and also removing the barriers and costs associated with the defined roles of customer, employee and shareholder. If you want to read more on this last point, click here for a previous article we’d written. Altogether, Vyral will improve lives and generate recurring - and passive - streams of income for people everywhere, while also helping the return on investment for organizations looking for marketing channels!
We’re excited to see the Vyral Tree grow, and we hope to see you onboard. We hope to help everyone who’d like to become involved with Vyral to be successful with their efforts. The community that will arise from Master Nodes as well as their children (and children’s children, and etc.) will be diverse, involved and rewarding - we’re looking forward to seeing and getting to know everyone!