I'm not an expert in studying whitepapers, but there seems to be some novel ideas found in the Respectonomy whitepaper that are quite interesting to me. Despite its mix of free-to-play and pay-to-play (I could be wrong here), their focus on the concept of "respecting" content itself may draw certain-type of content creators with such a straight-forward name.
Respectonomy is designed to implement an open social network in a layer above a peer-to-peer network built using BitTorrent-like protocol, that runs using a blockchain.
I don't even know how it'll work or if I even understood the mission of Respectonomy yet, but I like some of the solutions they've proposed to solve the problem of expensive data bloat. The size of nodes maintaining a social-media platform blockchain will inevitably grow large over time. Instead of burdening the network with everybody's data, curators / vouchers will be the only ones seeding the content. The earliest curator (or seeder) will be the one receiving the most "respect" if it were to be accesssed by others.
Respectonomy modifies the bittorrent protocol to only host content with users that endorse it; when users ‘share’ a content they become a seed in a sub-network of only those respectonomy users that have shared that content. Thus, only the supporters of a content bear the burden for hosting it.
Here's another interesting part that seems profound, but then I'm pretty much just reading words / squiggles on the screen here like a mindless zombie!
Some social networks try to determine the desirability and reliability of data by votes. When extreme downvotes are received the content is often censored. The problem in this scenario is sybil attack. The power to upvote can be easily replicated using bots and sock-puppet accounts.
A proof-of-work blockchain offers a solution to this as described in the hashcash protocol. The stake of tokens earned through proof-of-work then represents an identity’s reputation. The premise of this representation is that an individual identity is indistinguishable from multiple identities encapsulated as one. Rather than trying to solve it, the system assumes it.
Haven't had much time to really think about this whitepaper, just saw posted it on Steemit.chat yesterday and I went through it during my toilet break lol. What do you think about it? Here's the whitepaper: https://respectonomy.com/Whitepaper.pdf
Sounds like it's going to be a somewhat slow network.. anyway -
It's Lunar New Year today and I'm rushing to head out soon to visit friends and all. Best wishes to you guys!
Image by Anna Sudit