ONZ Coin | The NEW Generation BlockChain Social Media 🚀🚀🚀

ridertiger (40)in #dpos • 7 years ago (edited)

So, you think this is another social coin and it is not clear how they will be different than others right? That is exactly my thinking and in this article, I will try to explain how it is different than other social coins, and what its advantages are.

The best advantage of the ONZ coin is of course it is a social coin. Let's say you use facebook or twitter or yelp.
- Using Facebook, you may post things like I went to this place, let's say a hotel and you say it was lovely. You may get likes or shares on your pictures. This, in fact, promotes that hotel you went to. Getting all those likes mean something and you will be rewarded with ONZ coins. In other words, you will not only get a Dopamine shot with the rewarding likes, you will also be paid. You can send the coins to your friends and everyone should be able to use the tokens for shopping and other things you can do with money.
- Using Twitter, you post a lot of things and you may have some followers. Some of your tweets may have a wide reach and those will be rewarded by a lot of tokens and you can use these tokens for shopping or share it with your fans, run raffles, or pay them to join your polls or something.
- Using Yelp, you may review a restaurant and when you do, you are promoting that restaurant or you are helping them with your comments, positive or negative. Negative comments help as well because they will learn what they are doing wrong when they are getting low scores. These reviews will get you tokens.
- Using Instagram, and all other social networks, the same thing is correct. You help the firms by posting pictures, reviews or helpful comments. You will be rewarded for the work you provide for these companies and people.
Here is a good video explaining ONZ Coin and showing its app:

One big advantage is that it is on the blockchain, which makes it immutable and everything will be on a public ledger, which is bulletproof in terms of being unhackable. Blockchain technology is transparent, it has reduced transaction costs, it has faster transaction settlements, it is a user-controlled network, and of course, the biggest advantage is that it is DECENTRALIZED. This means that it cannot be controlled by any central authority. Instead of running a massive data center and verifying transactions through that hub, blockchain actually allows individual transactions to have their own proof of validity and the authorization to enforce those constraints. With information on a particular blockchain piecemealed throughout the world on individual servers, it ensures that if this information fell into unwanted hands (e.g., a cyber-criminal), only a small amount of data, and not the entire network, would be compromised.

Another advantage is that the coin uses Delegated Proof-of-Stake Consensus. This has its advantages but in short, it leverages the power of stakeholder approval voting to resolve consensus issues in a fair and democratic way. Actually, let's not be modest, DPOS is the fastest, most efficient, most decentralized, and most flexible consensus model available. This new system is very close to the reality of employees getting to fire their own managers. Steem itself uses this model. ONZ Coin will use 101 witnesses and this will be determined by the votes they receive. Here is a video that explains this model:

*Here is the coin distribution: