PixelProperty.io - White Paper Overview - Introduction (Part 1)
White Paper Overview
A white paper is a report or document which usually outlines information and proposed solutions to issues. In the cryptocurrency space, nearly every reputable project has a white paper, many having multiple. These papers often evolve over time, acting as living documents that change as the project progresses. While they are an important part of analyzing a project, with the rapid increase in projects as of late, keeping up with every white paper can be a challenge for many. In practice, not every user needs to know every detail of a project, however analyzing the important aspects may require sifting through the less important information to find it.
In order to present our white paper in a more concise format for users, we decided to do a series of posts analyzing the important aspects of each section. For full details, we encourage readers to read through the white paper.
This will be split over multiple posts, with each post being an overview of the important information to be found in the white paper with regards to their section.
Objective & Mission
Our vision is to create an ecosystem of cryptocollectables that connect the digital world with the physical world. Essentially, we want to create a DApp with a real-world representation of assets, where cryptocollectables have multiple uses and genuine value beyond the digital realm. PixelProperty aims to be the first product, a digital canvas built up of cryptocollectable regions. Next, we intend on connecting the digital canvas to the real-world through a constantly evolving billboard installed in a popular city. We plan to allow users to carry what they own within PixelProperty across multiple products, opening the PixelProperty ecosystem to additional markets.
Within recent years, blockchain technology has made decentralized computing an incredibly popular reality. The two very common types of blockchain tokens are cryptocurrencies and cryptocollectables. Where traditional cryptocurrencies function similar to the US Dollar or arcade machine tokens, cryptocollectables are designed to function similar to trading cards or stamps.
PixelProperty explores an interesting use case for these cryptocollectable tokens. PixelProperty will be the world's first physical art canvas built using blockchain technology. The digital canvas will be divided into ten thousand cryptocollectable regions known as Properties, each acting as independent mini canvas’ which can be used to showcase visual displays. Properties have a few extra features which their owners can take advantage of, such as advertising websites or their owners message.
There are two types of users in the PixelProperty system, contributors and Property owners. Contributors are users who draw or upload displays to the canvas, while owners are users who own Properties. Property owners can allow the community to update the visual pixels of their Property, or keep their Property private. To incentivize users to play with the canvas, as well as incentivize owners to let their Properties be used freely, a crypto Token known as PixelPropertyToken (PXL) is created and distributed to such groups based on canvas usage.
We believe this incentive will be sufficient to keep the canvas always changing, never stagnating.
PixelProperty is a decentralized application (DApp) powered by Ethereum. PixelPropertyToken is an ERC20 token on the Ethereum network, allowing the cryptocurrency to be easily utilized by third party wallets and applications. Properties are also a cryptocollectable token on Ethereum.
Next we will dive into an overview of all the features available to users within our DApp and Smart Contract! If you have any questions about our white paper or PixelProperty in general, feel free to leave a comment below!