SocialX a Decentralized Social Network for live streams, videos, photos, messaging
What is SocialX?
SocialX is a blockchain database that supports community building and social interaction with cryptocurrency rewards. SocialX combines concepts from social media with lessons learned from building cryptocurrencies and their communities.
All your photos & videos on a fast, secure and decentralised platform
SocialX is the first decentralised photo and video app that will securely store your LIFE MOMENTS in a single app. With SocialX there will be no need to post your photos & videos on centralised platforms like Facebook or Instagram. Our platform uses the latest blockchain technology to ensure short loading times.
Less censorship, more creativity
Popular social media networks fail to uphold the ideal of freedom of expression. We think that the centralized architecture of popular social networks puts them in a situation where complying with censorship laws and regulations is a necessity if they are to stay in business. That is why SocialX is different.
Connect with your friends via a encrypted messenger and exchange currencies
SocialX is more than a messenger. You can send payments and smart contracts to friends from within chats while enjoying the default encrypted messaging service, using a peer-to-peer protocol that doesn’t rely on centralized servers. SocialX will provide the safest and most reliable chat application available.
Earn money with your photos through an AWESOME Community
You share great content and the community rewards you for that. We believe great content should be appreciated even with a small number of followers. Our Upvoting System recognises the value of your photos and videos, and rewards you with cryptocurrency.
Advanced Referral System to grow our Community
A constantly growing user base is the key to a successful social network. We think our USP will attract photo & video-lovers easily, but we will include a paid referral system to incentivise your friends & family to join SocialX.
Opportunity
SocialX is an opportunity to express yourself without limitations to interact with your friends,family, and others who share similar interests. For those who have not familiar with the technology: blockchain will allow individuals to utilize a decentralized network to store images, videos, and data on a trustless service in which nobody can view, thus maintaining the privacy you need it will also allow the exchange of cryptocurrencies and other FIAT currencies.
We also believe great developers are key as our platform can grow exponentially, together with developers, improving the value for our users on a daily basis. Soon we will publish how developers can interact with the community inside our platform.
SocialX is a great opportunity to be an early adopter, to learn alongside as it grows; there’s even a great opportunity to build a business within the network through licensing and data distribution.
The user was at the forefront of our mind throughout the SocialX creation process. What can they benefit from the most? Our conclusion: freedom and self-governance. Size of the Market the long-term market we are aiming for is :
- SNS (Social Network Sites): 11.325 billion active social network users by January 2017
- Stock licenses for still photos and videos: an estimated 2.3 billion US $ (the global still
image market will exceed 4 billion US $ by 2020.) - Social Network Ad Spending: 25.98 billion US $
- Influencer marketing 1.07 billion US $ now which will reach 2.38 billion US $ by 2019
Market Analysis : User
Market Analysis: Social Network Advertising
Market Analysis: Influencer Marketing
Advantage Matrix
SocialX Advantage-Earning Matrix
Ecosystem / Technology
Blockchain
Blockchain makes it possible to record ownership publicly on a distributed ledger. That’s why we decided to use this technology for the foundation of the SocialX platform. We will use blockchain technology for our reward mechanism and to decentralize our social network as much as we possibly can.
We decided to use Ethereum for the generation of our tokens, the SOCX. Why? Well, we did this because ERC-20 tokens are easy to store and trade, and because of the added smart contract functionality and increased adoption rates of ERC-20 tokens at major exchanges.
Tech Stack the SocialX ecosystem will be built on the best technologies for production - we believe in choosing the best tech stack available at moment. Most of the blockchain technology is still in an early stage, but some is production ready and some will be production ready over the next 12 months. Regardless, each individual project will be monitored closely.
Speed and performance is important for users so, we have to use a hybrid solution which will combine the fastest client server architecture with the newest blockchain technology. We want users to have an ecosystem solution they will love for the many benefits we described.Nevertheless, the ultimate long-term goal is to have a fully decentralized app on the blockchain, going from hybrid to 100% decentralized over a period of 6-12 months.
Frontend
React is a declarative, efficient, and flexible JavaScript library for building user interfaces. Your components tell React what you want to render, then React efficiently updates and renders accordingly when your data changes. React has proven itself in web and mobile applications, so our advanced knowledge with React made this an easy decision.
Database
BigchainDB fills a gap in the decentralization ecosystem: a decentralized database, at scale. It points to performance of 1 million writes per second throughput, storing petabytes of data, with sub-second latency.
The BigchainDB design starts with a distributed database (DB), and adds blockchain
characteristics through a set of invocations including decentralized control, immutability, and the creation & movement of digital assets. BigchainDB inherits characteristics of modern distributed databases: linear scaling in throughput and capacity with the number of nodes, a full-featured NoSQL query language, efficient querying, and permissioning. Being built on an existing distributed DB, it also inherits enterprise-hardened code for most of its codebase.
Scalable capacity means that legally binding contracts and certificates may be stored directly on the blockchain database. The permissioning system enables configurations ranging from private enterprise blockchain databases to open, public blockchain databases. BigchainDB is complementary to decentralized processing platforms such as Ethereum and decentralized file systems like InterPlanetary File System (IPFS).
Wallet / Exchange
We are planning to integrate a wallet system within the SocialX ecosystem. This wallet will receive SOCX tokens from the SocialX Reward System and can be used to deposit and withdraw SOCX tokens. In the long-term, we want to develop a possibility for users to buy SOCX tokens in our app via fiat currencies to make the ecosystem available to the mass market. We are also looking closely into partnerships with payment acquirers, credit card companies and projects like TenX.
Roadmap
We divided our roadmaps into three parts :
- First, development will show the technical development of SocialX.
- Second, our marketing as we believe good branding and smart marketing activities are essential for a start-up.
- Third, we want to develop our business further; we believe in the importance of good
- business development in terms of networking and business partnerships with the best of the best in the industry.
You can access our roadmaps directly via our website https://socialx.network/roadmap/
Many people ask us “how do you make money in the long-run?” The simple answer is: we don’t know yet. In our opinion, a lot of tech start-ups have to focus on user growth first, especially as a social media. We have several scenarios in our head “to make money” in the future. One is via advertising or sponsored content. Another one is to develop partnerships with brands. Also, we could take a small fee on every photo sold via one of our licenses. These are all ideas and theories - nothing is written in stone, as of yet. Please refer to our SocialX Reward System for calculations with potential partner pools, which would give SocialX a greater liquidity.
Details Information :
Web : https://socialx.network
Whitepaper : https://socialx.network/whitepaper/
Facebook : https://www.facebook.com/socialxnet
Twitter : https://twitter.com/socialxnet
Bitcointalk ANN THREAD : https://bitcointalk.org/index.php?topic=2062117.0
Author (Giebaymax) : https://bitcointalk.org/index.php?action=profile;u=782329
Great job explaining.