VERASITY: THE FUTURE OF ONLINE VIDEO.

sirlaw (30)in #verasity • 6 years ago (edited)

INTRODUCTION

Online Video is a great tool for learning, but it’s also super easy to consume. Today’s world is too busy to have time to read long product descriptions or dig deep into services. The modern customer wants to see the product in action. Video advertising is becoming more and more affordable and widespread. Video adoption grows partly because advances in technology but also because it’s easy to spread across the globe. Making marketing videos for your business requires creativity and knowledge of human psychology.
The cocktail of these components makes it possible to create real miracles of advertising at minimal cost. Emotionally charged, creative video advertising can be spread on the Internet in a matter of days, getting millions of views.

VERASITY is fully packed, this project aims at developing a top notch platform that would empower creators and improve the video sharing model and as such it will improve the experience of watching video online.

AIMS/OBJECTIVES OF VERASITY

• Third Party Syndrome: The verasity platform brings closer viewers and creators together, in this case creators and viewers transact directly on the blockchain platform and by so doing the platform have abolished the existence of intermediaries.
• Proof Of View: The verasity platform would introduce this concept in order to ensure transparency and integrity within its platform. With this concept, videos will be stuff l securely tracked and stored on the blockchain network thereby providing security, flexibility and a scale to support a flourishing new environment for advertisers, viewers and content developers.
• Spark: This is the concept that brings viewers and creators together so as to actualize the creation of great video content. SPARK is brand new and in this platform, viewers can by the aid of spark fund content creators using the VERA token. With Spark in the verasity marketplace, viewers/participant’s would be able to fund a content channel in exchange for a portion of the channels future revenue.
• Viewers Privilege: In the verasity platform, viewers are centers of all content transactions. With this privilege the viewer community would be able to determine the success of any content channel, this would further abolish the influence of the monetization strategy of a third party.

THE BLOCKCHAIN TECHNIQUE

Blockchain can be said to be a digital ledger in which transactions made in bitcoin or another cryptocurrency are recorded chronologically and publicly.
The blockchain technology is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value. The blockchain is an undeniably ingenious invention.
Information held on a blockchain exists as a shared and continually reconciled database. This is a way of using the network that has obvious benefits. The blockchain database isn’t stored in any single location, meaning the records it keeps are truly public and easily verifiable. No centralized version of this information exists for a hacker to corrupt. Hosted by millions of computers simultaneously, its data is accessible to anyone on the internet.
Blockchain technology is like the internet in that it has a built-in robustness. By storing blocks of information that are identical across its network, the blockchain cannot:
• Be controlled by any single entity.
• Has no single point of failure.
Verasity will utilize the blockchain technology to enable transparency, accountability and effective solution because the blockchain network lives in a state of consensus, one that automatically checks in with itself every ten minutes. A kind of self-auditing ecosystem of a digital value, the network reconciles every transaction that happens in ten-minute intervals. Each group of these transactions is referred to as a “block”. Two important properties result from this:
• Transparency data is embedded within the network as a whole, by definition it is public.
• It cannot be corrupted altering any unit of information on the blockchain would mean using a huge amount of computing power to override the entire network.

Verasity platform would surely be secured because when data are stored on the blockchain network, the blockchain eliminates the risks that come with data being held centrally. Its network lacks centralized points of vulnerability that computer hackers can exploit. Today’s internet has security problems that are familiar to everyone. We all rely on the “username/password” system to protect our identity and assets online. Blockchain security methods use encryption technology.
The basis for this are the so-called public and private “keys”. A “public key” (a long, randomly-generated string of numbers) is a users’ address on the blockchain. Bitcoins sent across the network gets recorded as belonging to that address. The “private key” is like a password that gives its owner access to their Bitcoin or other digital assets. Store your data on the blockchain and it is incorruptible. This is true, although protecting your digital assets will also require safeguarding of your private key by printing it out, creating what’s referred to as a paper wallet.

VERA TOKEN

This is a utility token that powers the veracity platform and it’s economy. It is a medium of exchange between participants within the veracity ecosystem. The VERA token would be ERC20 compatible built on the Etherum network.

TEAM

The verasity platform and it’s wonderful ideas where born out of a team that has worked tremendously to make this project a huge success.