RE: What Is The Best Byproduct Of Securing A Blockchain? Let's Talk About It
This is an interesting approach to explaining the byproducts of coin creation and what sets Steem apart from others. To extend this, I would like to share an idea. Something that Steem lacks and SMT can help with.
Consume Token Economy.
What Steem eco-system lacks is rewarding content consumption, time spent on consuming content, playing games, watching videos, etc. So, it would nice to have an SMT that is solely focused rewarding on content consumption. No posting, no commenting, no voting, no resteeming; only consuming content.
The majority usually are content consumers, rather than content creators. Since platform mainly rewards content creation, content consumers tend to become content creators. I understand there are curation rewards. But these rewards require stakes. Majority of content consumers, especially new users will have low stakes, hence curation rewards won't do any good for them.
A solution in my mind is to come up with a system or an SMT experiment of implementing rewards for content consumption. It would require some genius programming skills, networking skills to implement that. But I think it is doable.
For the sake of this thought process let's call it a CONSUME token. Following is how it would work:
Initially, CONSUME tokens will be issued/airdropped to all Steem holders. It will have an inflation the same as Steem. So as new Steem is created and added to the Steem reward pool, Consume tokens will be created and added to the Consume reward pool.
Users who are passive and are not consuming content(defined by its algo and protocol) will lose CONSUME tokens as time goes by. Sort of an individual deflation. These tokens will be added to the Consume reward pool.
Consume tokens will be distributed to users based on the users' content consumption levels. So users who actively consume content will automatically be earning Consumes.
Content creators can promote their content with Consume tokens. They send their Consumes to @consume account and they will be distributed only to users who consumed their content.
Apps & UIs can also use Consume tokens to attract users to use their platform. For example, Busy, Steempeak and even Steemit can send Consumes to @consume-ui on a daily basis. These Consumes will only be distributed to users who consumed content on their platform. Even gaming, video, livestream, and other entertainment apps can take advantage of this and reward their users.
I have more thoughts on the implementations and benefits of this kind of Consume economy. These were just outlines.
I love this idea! Very out of the box, and most folks aren't the best at creating content. By definition, only the best creators are. However, even the best creators need audience for their excellent skills to have value, and most people can consume most content. Some of us, of course, are better at that too. I would probably make a fortune due to my obsessive reading of Steem posts.
A question occurs to me regarding consumption. Presently we note there are no few commenters that indicate little or no familiarity with the OP they comment on. 'Nice post!' and commercial spam comments are notorious, and their frequency occasions no little ire. What would indicate that content had actually been consumed? Clearly simply making a comment would not do this, and absent some other metric would produce an imperial shit ton of comment bots - something none of us wants (I hope).
Thanks!
Thank you!
This will not require any interactive actions like voting, commenting, or reateeming.
It would only count what the users viewed and how much time spent on a post, video, or playing games. To my understanding any Apps can gather that information. So the algorithm used will need to be implemented by the Apps.
Participating Apps in return will be awarded certain amount of Consume tokens so they can use them to attract more users to use their Apps.
Challenge is how to implement it on a blockchain level without requirng a hard fork, but keeping it functioning on top of Steem.
Well, I submit that the real challenge is to actually detect consumption. Botting began in games, back in the '90s, and many games yet have problems with this. @drugwars has recently banned many accounts for exactly that. Simple scripts can point computers at content, and no one would be the wiser without some means of differentiating those scripts from actual eyeballs.
Until you solve this problem, all you can do is enable bots to be profitable posing as people, and most dApps will be well aware of this. They won't want to pay for bogus views.
This is a great idea. It reminds me of what Brave is doing. I 100% believe our future generations will get paid to read articles, watch videos and ads. A person writes a good article and gets zero eyes; it is worthless in terms of monetary value. A shit post that gets 10k retweets can get ad money for both the author and curators. The consumer is the most important person, just like in a store the customer is the most important.