YOYOW (YOYO), an anagram meaning “You Own Your Own Words”, is a network based on Blockchain technology that aims to reward and measure the contribution of users from the content producing sector using decentralized consensus methods enabling consumers, content producers, investors and curators in the YOYOW environment, while also provides them with appropriate incentives and returns.
Problems YOYOW Solve
YOYOW´s design team intended to establish a rational mechanism for content-generated income distribution and value, by taking into account how end-users rate content. Any content platform is eligible to create content-oriented incentive platforms on the network. The YOYOW platform dynamics and user´s ratings of content will govern how content producers, curators, builders of the service and investors receive rewards.
Users, premium content providers, and communicators can generate massive traffic and tens of billions of dollars in profits each year for social networking and content sharing platforms like Reddit, Twitter, and Facebook, but this contribution from the community to the value of the platform is ignored by shareholders. In these platforms, members of the community do not own what they produce - they have neither full control nor the right to earn income.
The YOYOW team has developed their own Blockchain. And as of December 2017, they have developed a command line, desktop and web version of their wallet, a blockchain explorer and a beta version of a WordPress plugin that was released and submitted for evaluation. The ERC20 version of YOYO has been listed on Bitfinex for exchange. YOYOW tokens are not to be distributed through ICOs, but instead, users can buy them on the company’s site.
History of YOYOW
Founded by Qiang Liu, YOYOW will use the YOWYOW Blockchain to establish a transparent and efficient evaluation system, which will rationally quantify the value contribution and reward users. By giving users control, governance and profit redefined community ecology and economic models, and creatively built a new ecosystem of content production platforms.
How it Works
YOYOW’s main characteristics are:
Based on blockchain technology: With YOYOW's technology, the platform naturally boasts all the benefits of blockchain technology: no central authority control, trustless, high security, anonymity, complete user control, and more.
Content motivation: YOYOW will use a transparent proof-of-taste algorithm to reward content creators and communicators, and third-party platform builders will also receive rewards; at the same time, YOYOW supports direct rewards.
A variety of display formats: Any form of media can be shared using YOYOW. This content can be put on Reddit, your blog, live broadcast, etc. You can even create a brand new presentation. As long as the content is approved, you could get a huge return.
Some important technical advantages of the platform are:
Efficiency: Toolkits built with the Graphene engine will allow efficient transaction confirmation and processing to be made at an average speed of mere seconds.
Elasticity: Convenient third-party access architecture expansion and plug-in development.
Lightweight: End users don't need to download the entire Blockchain.
Convenience: Supports WEB, desktop applications, mobile APPs, and other clients.
Participation: Token holders can vote on major decisions important for the community.
Advanced multiple signatures: More convenient, flexible and secure.