One of the principal apps that can bring users to Koinos are social apps. And they perfectly fit in koinos since it has free transactions and the option to authorize payments of mana. Meaning that an app could bring people to the network even if they don't have any cryptocurrency.
I don't want to reinvent the wheel, but take the approaches made in other blockchains and adapt them to Koinos. And Steem/Hive is the perfect source of inspiration for this application since it has a lot of users and has shown a good progress throught the years. Later we can upgrade the contract if we see that it should be improved in some way.
Let's talk about a new social app for Koinos. Let's talk about Tonces.
Authors and Curators
There is a common pool of money (koins) that is used to feed the app. Let me explain this pool later. There are 2 roles in the App: Authors and Curators. And there is a token called "reputation" which is used to determine the weight of the votes. The more reputation you have the more your vote can influence who gets a better payment. We can start by using the same curve and periods used in Hive: The convergent linear curve and period of 7 days to vote for posts.
After the period of 7 days:
- Part of the pool is taken to pay authors and curators. They receive Koins.
- New reputation tokens are issued and transferred to authors and curators in the same proportions as Koins.
No data in the blockchain but hashes
The blockchain will not store the posts or comments, but hashes of them. The actual posts will be hosted by App Servers. This design approach has 2 purposes:
- The consumption of mana is reduced because the blockchain will have to process less data. Then it can reduce the threshold to make a transaction and interact with the contract.
- People will be able to delete their content. So it can be GDPR compliant.
App Servers are rewarded as well for their work using the pool of koins. The difference with authors and curators is that it works as the Hive Proposal System: All App Servers submit a proposal where they define the payment the expect to receive at the end of the day. And they are selected using a voting system.
App Servers are also commited to delete data when requested by users, download all data when requested, and shared data with other App Servers so they can offer the service and that there is a healthy competition in offering a better service.
Sponsors
You maybe wondering how to fund the pool and sustain the payment system. Here is where Sponsors take place. There is a lot of people that want Koinos to succeed, in particular, the big investors.
So, my idea is to fund this App through a koinos mining pool. How? there is something totally true: Big investors will burn their tokens in order to have more virtual hashing power to have more incomes. Most of them most probably will want to use a mining pool for that so they don't have to run their own server. Well, my idea is to create a mining pool where part of the rewards go to Tonces (the social app) and the rest go to the investors. I know that there will be other pools that could offer better rewards but as I said is in the interest of big investors to see koinos succeed. So I expect a big support from them, whom I call the Sponsors. Apart of that they have some benefits:
- Each time a payment is made in Tonces App, new governance tokens are issued with the same amount and distributed between sponsors.
- The sponsors can take different type of decisions. Like the percentage distribution between curators, authors, and servers.
- Sponsors are also the ones that vote for App Servers and approve different kind of proposals.
- The governance distribution token has a decay: At the beginning it will give 20 tokens for each koin consumed. And this conversion will decay during 2 years until 1 governance token per koin consumed.
Development
Right now this is just an idea. And it most probably requires adjustments. I would like to receive feedback from the community, specially from whales: Do you think it's a good idea? are you skeptical? would you like to be a sponsor? I want your opinion.
At the same time, as you know this project requires a lot of work. So I would like to know if there are developers that would like to work on it or if there are some members that would like to fund its development. From my part this is something I would definitely want to contribute with devs resources or koins.