The Lunyr network is a decentralized Ethereum-based world knowledge base, specially designed for users to get rewarded with the app tokens when they review and contribute solid information to the platform.
Lunyr being a decentralized platform aims to be the beginning point of the internet, where users from all over the globe can seek a reliable, and precise information. Put into layman's term, Lunyr is out to build the philosophy of Wikipedia and invents a next-generation of the knowledge base that leverages on the Ethereum blockchain.
How it works
Once a user gets on the platform, they are able to start submitting content, (more like new information or edit a piece of existing information). This information will then be reviewed by Lunyr reviewers in an attempt to scout for quality and accurate information. Every submission being dropped by users, will pass through a mandatory peer view process. However, flooding the system with junk information won't be tolerated as the platform spends a huge amount of gas to maintain the platform.
Users are admonished to drop a source of where they got their content from (if it's already existing information) for reviewers to verify the submissions stability and accuracy. For this reason, fake, spam, or vicious contents will be hashed out sporadically.
If the content passes review, then the contributor must review other submissions. This results in an award of contribution points (CBN) and honor points (HNR). Neither CBN nor HNR can be transferred to other individuals, which ensures that only users who have committed to the well-being of the ecosystem hold CBN and HNR. source
The sole reason why contributors are allowed to peer-review other submissions after the content passes review is simply that; Lunyr only wants to have a natural obstacle such as; failure of nodes, bugs or system shutdown, etc. Other than this, the platform can't afford the mistakes of humans on their platform. With this in place, the cost of such attacks will increase hereditarily together with the scale of the attack.
That's not all, Lunyr will inject a component of randomness to the peer selection in an attempt to make it extremely difficult for hackers and tress-passers. To make things more interesting, Lunyr will also provide a straight economic incentive for users upon which they can post all of their contributions from one account by making the reward scale slightly non-linearly.
What are HNR?
HNR is an acronym for "Honorable points". They are the rewards given at the same time as CBN for successful content submissions, as well as peer reviews. Users are free to spend their HNR on proposing and voting on disputes. Additionally, HNR holders are still holders of CBN, this ensures that the people voting on the proposals have an economic incentive to vote and to be voted for, in the best interest of the platform. At the time of this writing, HNR tokens aren't transferable, they are depleted upon use.
Features Of Lunyr Platform
- 100% decentralized
It is safe to say that the Lunyr platform is 100% decentralized. It is true that centralized systems represent a single point of failure since they are controlled by central authorities. Those who rely on these mechanisms shouldn't devote their 100% trust to them. In 2012, it was stated that Wikipedia intentionally shut down all of their services for 24 hours to protest against internet piracy laws, hindering users worldwide from accessing this information.
- Token Incentive System
Ethereum is known for its selfless actions. Being a network where other DApps tokens are created, Ethereum allows these DApps to create their own tokens in an attempt to replace brokers or middlemen. On Lunyr's system, tokens play a very much crucial role by providing economic incentives for its users.
Contrary to how Wikipedia operates, where volunteers must donate their time and resources for contributing valid information. In Lunyr's, contributors are fairly rewarded for the work they put, that's not all; they are also incentivized to continue increasing the value of the ecosystem.
- Storing content
I'm certain we're all aware of the fact that storing data on the blockchain tends to be very expensive, it is, for this reason, Lunyr's developers intend to store users data on the Interplanetary File System (IPFS). Given that all of the content is on IPFS, anybody can host the content and its integrity is ensured by cryptography.
This singular act aims to ensure 100% decentralization as much as possible. On the other hand, this will ensure a high measure of dependability and ease.
- Ad mechanism
Unlike other platforms where unfiltered ads just pop up on the user's screen page - well that is not the case with Lunyr. Ads are, first of all, submitted by advertisers and are reviewed by contributors upon filtering out unfit materials.
Advertisers advertise on the Lunyr platform by participating in an auction where they bid on ad-space using Lunyr tokens (LUN). The ad-space is allocated based on the relevance of the ad and the size of the bid, similar to how Google AdWords works.
Conclusion
Having explained all of the intricacies of Lunyr, there's no telling how the developers will primarily aim at fine-tuning the system in an attempt to improve it's accuracy, grow leadership and increase content. Calling a spade a spade, Lunyr plans to establish it's brand globally as a reliable, decentralized and accurate knowledge base.
Disclaimer:
This is not financial advice, nor a guarantee or promise in regards to any result that may be obtained from using the above content. The information provided here is for informational and entertainment purposes only. It should not be considered as financial and/or investment advice. No person should make any kind of financial decision without first consulting their own financial adviser and/or conducting their own research and due diligence.