Introduction

Hello Crypto Lovers!
Season greeting to you all. This week marks the 7th week in season 5 at the academy. I am Kehinde Micheal and my username is @msquaretwins here on this platform. I have gone through the lecture presented by Professor @wahyunahrul on "Verasity - Advertising Services On Blockchain" in the intermediate class. Therefore, in this post, I will be answering the question posted in the homework section. Happy reading!

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1. What is Verasity? What do you think about the performance of this platform broadly?

The posting of contents to different platform especially Youtube and other various social media platforms have been giving reward to content creators by earning from the contents they post. In fact, many lives have been transformed by the huge reward they earn from the content they have been uploading on social media platform. This however has motivated many content creators to be posting their content online and many other social to earn from content. Interestingly, many people have been following this steps due to the benefit therein.

Many a times, we see adverts when we clicked to watch a video on YouTube at the beginning of the video. Although, there are some advert that are also put in the medium or section of the video for people to see especially those that often watch video by streaming. If you are a type of people that stream on YouTube or other social media platform where people watch movie, you will agree with me that predetermined adverts are put at different section of the movie. This adverts are paid for by the advertisement companies and this also form part of the reward that content creators get.

The platform owner will share part of the adverts fee to the content creators. This is done this way because the videos uploaded by content creators have capacity to bring different audience to view the adverts and this in turns without any doubt will make some of the audience that view the adverts on the video uploaded by the content creator to buy the product of the advertisement company.

The major problem on this which is a great disadvantage to the advertisement companies is that viewers which ought to be humans are now replaced with software bot. This makes the audience not to be clean anymore and action is constantly affecting the advertisement companies. This is where Verasity comes in.

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Verasity is a blockchain platform that is used for video sharing by content creators to the audience. The platform is an innovative idea of an entrepreneur and software developer called RJ Mark. It was created in 2018 solely to solve the issue associated with video content with regards to fake view in centralized video sharing platform.

In my opinion, many people will like verasity platform because of the huge benefit it offers. Like I have said, the fake viewers which is associated with centralized platform of sharing contents is solved by the veradity platform which is a great advantage to advertisement companies. Not only that, Apart from the fact that content creators earn by uploading their content, the platform also reward viewers who watch video content on the verasity website. This therefore will make many people to adopt this platform.

Furthermore, verasity employed the use of technology called layer protocol which help to filter out fake views and bot. This is a great advantage to advertisement companies because they can get maximum audience to view their advert.

Therefore, we can see that verasity offer rewards not only to the content creators but also the viewers which is not so in others video playing platform. Also, advertisement companies are also affected positively because of the large audience the video created can reach. So I believe that many people will buy in to this platform.

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Interestingly, the verasity platform has also partnered with many popular video playing platform like YouTube, JWPlayer Flowplayer Vimeo, VideoJS, Twitch Kaltura. This therefore also confirm that verasity platform will undoubtedly increase her capacity of users because different playing video platform will be attracted to verasity ad a result of this partnership.

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2. How does the Proof of View system used by Verasity validate real viewers? Explain in detail and make an illustration about it.

Like I have mentioned above, view on video playing platform are often fake which is very detrimental to the ads producing companies. For this reason, Verasity, a blockchain content sharing platform developed a system called Proof of view to solve the issue of bot and fake view on video playing platform.The Proof of view system used by verasity is a system that used to verify the authenticity of viewers.

The proof of view system verify and review the content view on the verasity ecosystem in a very clean and transparent manner with tamper free proof.

The Proof of view has a verification module which is computer programmable code which is stored on a non volatile storage and processor which is capable of retaining information without power supply. The verification module together with processor receive a response from the content view by viewers and then store the the content in a database chuck. Then the database data chuck is hashed and put into the hashed database chuck. And finally the hashed database chuck is attached to the blockchain of the proof of view verification system. Then the content view data is juxtaposed with the blockchain block.

_{Illustration of Proof of View Used by Verasity to Verify Real View/ Image Created on iMarkup App}

A technology is built on the verasity system which enable the system to detect whether the viewer is a bot or human. If a view is shown and the player who view it on vera platform is not viewable through the technology employed, The view will be nullified.

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3. Why is "fake viewers" so detrimental to all parties related to videos and advertisements that are shown?

Fake viewers is detrimental to all parties related to videos and especially to advertisement companies. Firstly, the fake view makes the advertisement companies not to get greater yield from the money they pumped into the advertisement.

As said earlier, part of the money paid by the advertisement companies are shared to the content creators. This is because the videos uploaded by content creators are capable of bringing a lot of audience to view the adverts and this will make many that viewed the adverts on the video uploaded by the content creator to buy the product of the advertisement companies. But fake views have been a disturbance to the advertisement companies. This is because, the viewers which ought to be humans to watch the adverts which are included in the content uploaded are now replaced with fake viewers like bot. Consequently, this has reduce the yield from the money invested in the advertisement by the adverts companies.

Also fake view makes the integrity of the content producing platform to be doubted by the advertisement companies. If the advertisement company get to know about the fake views in the video producing platform, that may make the platform to lose advertisement companies that ought to advertise on the video platform.

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4. Mention and explain ways so that we can get VRA Token rewards.

We can get VRA token rewards by watching video contents and ads uploaded by the content creators and publishers site.

• To do this, go to https://verawallet.tv/earn-vra and then scroll down to see a list of videos and ads uploaded by content creators and publishers.

Then click on any one to watch video. In my case, I clicked technews.guru as indicated by a yellow box in the screenshot below.

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• Then I saw a series of video and I clicked on one. I clicked on the white trophy as indicated by a red box in the screenshot below.

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• Then I was asked to register. I put my email, password and I check the terms and condition box and click "I am not a robot" and then clicked register

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• Then a code was sent to my email. I opened the email and copied the code for verification purpose.

Then I pasted the code in the box provided for verification on VRA reward website as indicated in the screenshot. I then clicked submit button.

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Then as we can see in the picture uploaded below, I have zero VRA in wallet.

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I then go back to watch a video as displayed below. As we can see, the trophy is white, but let see what happen in the next picture after I finished the video.

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After watching the video, the trophy at the right corner of the video player turned and change to green. Then click on the green trophy at the upper right corner of the video player. Then After I was directed to the verasity wallet.

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Then I was rewarded with a VRA token as seen in the screenshot uploaded below.

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I watched up to 5 videos and my total reward was 5 VRA as indicated below.

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5. What is VRA Virtuous Cycle? Explain it in detail.

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The VRA virtuous cycle is uploaded above. As seen in the picture, there are six important features that make the VRA virtuous cycle. Theses features are; Buyer buy VRA, Verasity earn, Earn VRA, User benefit, Use VRA to; and Cycle repeat

• Buyers buy VRA: Buyers like content creators, game developers, influencers and publishers buy VRA token with the use of credit card or exchanges so that they can use it to fund their game, tournament and for the purpose of monetization which in turn generate large audience.

• Earn VRA: Users who view video contents and ads uploaded by creators and publisher get rewarded with VRA token by watching videos and ads. The game developer, and publisher buy VRA to reward users playing video and game to reach more audience.

Verasity Earn: Verasity also earn certain percentage from all activities, like tournaments, ads, sponsorship and campaigns done on the platform.

Use VRA to: VRA holder can use their token to do staking on the platform to get reward. Ot can also be used to pay entry fee to games, tournament and App.

Users Benefit: The game developers, publishers and creators get certain percentage of revenue from the tournaments, ads, campaigns and the content uploaded.

Cycle Repeat: The revenue earned by game developers and publishers and content creators are used to take care of additional tournament, and campaigns.

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6. Create a VeraWallet account and show the complete steps (Screenshot Required).

Step 1

To create a verawallet account, I clicked verawallet website as displayed in the screenshot beside this text. Then I clicked "create account" as indicated by a yellow box.

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Step 2:

Then another page appeared for me. In this page, I put my email address in the first box as indicated by a yellow box, I put password in the second box as indicated by a red box and then check the small box indicated with sky blue box to agree to the terms and condition of the platform. And finally, I clicked create account button.

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Step 3

Then a link containing code was sent to the email I registered with. I opened the email and I copied the code which was sent to me.

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Step 4

Then I returned to verawallet site and pasted the code I copied to the space provided for verification code as indicated by a yellow box in the screenshot uploaded beside this text. And then I clicked submit button as indicated by a red box.

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Step 5

Then another page appeared for me. Here I was asked to scan the QR code by using either google authenticator, Microsoft authenticator or Twillo aunthy. Another option presented is to the key and add it manually on the authenticator App. In my case, I used the QR code. Then a code was generated for me on the Google authenticator. I then clicked next button.

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Step 6

The another page appeared. Then I was asked to provide the code generated by authenticator and I provided it in the space made for it as indicated by a yellow box in the screenshot uploaded beside this step. Then, I clicked done

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Step 7

The next page is where I downloaded the secret key to my account. Although there is another option to copy the secret key manually, but in my case I saved the code by clicking save the code button as indicated by a red box in the screenshot.

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Step 8

Another page appeared as displayed beside this text. Then I clicked "Go to complete account" as indicated by a red box in the screenshot.

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Step 9

The next step is where to fill account information. First box is where to put first name, the the second one is for last name or surname. The next page is for date of birth, follow by country of residency, home address and finally phone number. After I filled in all these necessary details, I clicked "submit" button.

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Step 10

Account created successfully. My vera account has been created as seen in the screenshot provided for this step. And I can now use the account for any activity on the platform.

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7. Transfer some VRA Tokens to the VeraWallet account that you have created and prove the transfer with Block Explorer (Screenshot Required).

Step 1:

To transfer VRA token to the wallet I have created, I logged in to my kucoin App. Then I clicked my asset so send VRA token I purchased with my USDT asset to the one I created on the verasity wallet.

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Step 2

From the asset page, I vlivked withdraw and another page appeared as uploaded beside this text. Then I clicked on VRA as indicated by a red box in the screenshot.

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Step 3

Then a page to transfer the VRA token was displayed as seen in the picture uploaded for this step. I copied wallet from verasity wallet and I pasted it in the wallet address displayed in the screenshot. As I wanted to transfer the VRA, I saw that the gas fee is very huge.

The minimum amount I can transfer is 1000 VRA which is $30 currently and the gas fee is 600 which about $18. That means I need about 1600 VRA for this transaction which is equivalent to $48

Professor Sir, considering this amount, I was unable to complete the transaction.

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Sir I just saw that you have changed question 7. So I edited my assignment to include it. Thanks

7. Explain what use cases the VRA Token has in the Verasity ecosystem.

VRA token is used for many things on the verasity ecosystem.

VRA token is used for Staking VRA holders can used their token for staking, which allows them to earn more reward in VRA. The staking is on the platform is VRA pool. VRA token earn 0.1% of their staked token per day which totalled 36% per year. The reward is distributed to the vera wallet every 24 hours.

Content Viewers Earn VRA reward VRA token is also used to reward view on the verasity ecosystem. When viewers watch video contents or ads that uses the technology of verasity, they are rewarded with VRA token. 1VRA is rewarded per video or content they view. However, users must watch video to a certain period before they can be rewarded. I have explained this in detail question 4 and 9.

VRA is used as reward by publisher: publishers and content creators buy VRA token and use it as reward. They do the monetization of this reward through ads. They do this to increase the number of audience and improve people engagement.

Content Creator buy VRA to view Content: Viewers can also buy VRA token to watch some content that are called pay per view on the platform. The VRA token bought by viewers can also be used for subscription as well as donation on the platform.

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8. Explain the steps on how to Staking VRA tokens (Screenshot Required).

Staking in verasity is done on official verasity wallet called Verawallet. To do that, you will have to create Verawallet account. I have done this in question 6 above. Referred to question 6 above.

• After you have created the account as illustrated in the question 6 above, then log in to your account. Then click staking wallet as indicated by a yellow box in the screenshot beside this text.

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Then another page will appear as displayed at the right side of this text. Click "stake" as indicated by a red box.

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Then a page to enter the amount of VRA to stake will appear. As seen in the screenshot, I entered my own available balance for staking.

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The I get to know that the minimum amount of BRA for staking is 10,000 VRA. Had it been I have up to that amount, I will just put it and click continue to finish the staking.

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9. Watch one of the videos on the Verasity Website and show how we can get rewards from watching the video (Screenshot Required).

To do this, go to https://verawallet.tv/earn-vra and the scroll down to see a list of video you can watch from. Then click on any one to watch. I clicked technews.guru as indicated by a yellow box in the screenshot below.

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• Then I saw different videos from the next page that appeared for me. I clicked on one. Then I notice a white trophy at the right corner of the video player as seen in the screenshot below.

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After I finished the video, the trophy at the right corner of the video player changed from white to green. Then I click on the green trophy displayed at the upper right corner of the video player. Then After I was directed to the verasity wallet.

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Then I was rewarded with a VRA token as seen in the screenshot uploaded below.

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Conclusion

Verasity platform is indubitable a platform that has a great capacity to filter out fake views that which is often seen in many video playing platform. With proof of view system incorporated to verasity verification system, advertisement companies, content creators and publishers can be rest assured that there won't be fake views in the ads, and content uploaded.

In this post, I have explained the impact of verasity platform on the video playing platform. I also explained with illustration the working principle of proof of view employed on verasity ecosystem. More so, I opined my view as to why fake viewers is a disadvantage to ads companies and all parties involved. Not only that, I also gave step by step on how to create account with clear illustration from screenshot. Finally, I explained the steps do staking and also give detailed steps o watch video and get reward for every video watched on the verasity platform.

Special thanks to Professor @wahyunahrul for this lecture. I hope to participate in your class next season.