Hello everyone. It is yet another week that we get a wonderful lecture from Professor @wahyunahrul. Once again, I have learned a lot from him. Please do find below my homework post on the topic lectured by him.

Verasity by @rosita-nkefor

The world has advanced so much that one can say we live in a digital age. The age where even children not up to three years old have mobile devices. Everything nowadays is online from jobs, schooling, etc, right down to entertainment.

Anybody with a phone can testify to the number of online videos. No matter the platform, there are always videos online and people watching them.

Because of the strong online presence of the human race, companies, and businesses advertising their services and goods from door to door, using newspapers, television and radios do not get to as much of the audience as targeted. Especially this digital generation where everyone is online.

_Source

Thus, companies saw the need to take their adverts online to the audience. It made things a little easy and cost-efficient as well. All they had to do was partner up with traffic-generating sites. Things were going well until technology came once more to turn them on the backs.

Online bots. These have become a plague nowadays. In the digital world, it is not that easy to know who is a real person and who is a bot. This is why reCaptchas have now become a thing on any legitimate site. It involves a simple test to weed out bits from humans. Though whenever I'm asked if I am human, I am like “duh”.

These bots have also started clicking links to adverts. And since they were not real humans, they generated false statistics and companies realized that they were not reaching the audience despite the number of clicks that were generated. Something was fishy and they were losing money because of it.

_Source

And now came Verasity, a superhero of some sort. It came with the solution to this problem. How so? Verasity is a decentralized platform created by RJ Mark in 2018. Decentralized because it is built on a blockchain. It is a video-sharing platform similar to Youtube, where people can upload their videos and get paid for them.

Apart from paying content creators (those who make the videos), Verasity also pays content viewers (those who view the videos). And since it is built on a blockchain, all payments are made in crypto tokens. Verasity has its token which is called the VRA token.

In addition to this, Verasity uses a protocol called the Proof of View protocol. This protocol ensures that only real people who watch videos are paid. So it can detect bots who watch videos, hence solving the problem faced by companies producing ads elsewhere.

To further back its legitimacy, Verasity is partnered with several other video-making platforms like YouTube and Twitch. This means that they believe in the project and are willing to offer support.

_Source

This platform has changed the lives of companies who have to advertise their products. This is because they get paid to post their ads and they also get a solely organic audience viewing their ads.

I believe that this platform is in to run for a long time. As they continue to refine their technologies, so shall the advertising and video-making industry experience revolutionary change.

Verasity uses the Poof of View protocol on its platform. This protocol is a technology employed to weed out fake viewers or bots from real viewers or humans. It makes sure that only real viewers get paid for watching the videos. Now how exactly does it work?

It is important to note that the underlying technology utilizes 200 touch points and AI. In creating an account, we know that there are so many verifications done to make sure that the user is a real human. So any user with a verified account is a human i.e a real viewer. We also have to note that when a Verasity account is created, the user is given an anonymous hash or ID.

So in order to detect whether a viewer is real or fake, the whole process starts as soon as they start viewing the video. The protocol detects the video being clicked and being viewed. It then goes back to it's database and checks the user. When the user who is watching the video has been confirmed as real (by checking their ID), the video is marked with their unique hash showing that they have viewed the vid and are real. It is then recorded in the blockchain.

When we say “fake viewers”, what we mean exactly is that it is claimed they are viewers meanwhile they are not. That is the number of views you see on a post, is not actually organic because not all those viewers were human. Some were bots.

Just by being fake, there has got to be some downsides right? And not just for one but all parties involved. For a better illustration, let us use an example. We will assume that I am say a beauty content creator. I create beauty videos and post online. On top of these, I use my videos to advertise the beauty products I am using.

_Source

Because of this, the companies that make these products pay me some reward for advertising their product. The reward will depend on the number of subscribers and views I have on my channel and videos respectively. Also, I will get a commission if any of my viewers purchase the product because of me. So I profit by advertising the products and the company profits by getting new customers through my videos.

Now how will fake viewers affect this profitable situation going on? If bots come and view my videos, the number of views per video will actually be fake. So when the company will pay me for number if views, they will be losing money because the number is not real. They are paying for what thy are not getting.

The content creator that is me will also lose money. How so? This is because since the viewers are not real, they won't go to purchase the product. Thus, I won't get a commission for all the customers referred by me.

There are several ways to get VRA tokens. But since the question said VRA token rewards, that means buying the token on an exchange is out of question. So I will only talk about three ways to get rewarded with VRA tokens which are by watching content, creating content or staking VRA tokens.

We should note that before doing any of this, we should create and have an account first.

1. Watching Content

Once you have your account and a wallet, you can go ahead to the list of videos and click any one. As soon as you watch it and the system confirms you are a real viewer. After watching a video, you will get rewarded with VRA tokens. The more videos you watch, the more VRA tokens you earn.

2. Creating Content

With an account, you can not only watch videos but you can also be a content creator. That is, you can create a video or advert personally and upload it. When real viewers watch the video, you will get rewarded in WRA tokens. So the more viewers watch your video, the more to lend you earn.

3. Staking VRA tokens

The first step is to get an account first. After you are done with that, you have to get VRA tokens. Once you have tokens of your own now, you can go ahead to stake them. By staking the tokens, you will be earning VRA tokens as a reward.

The VRA Virtuous Cycle refers to the cyclic process showing how VRA tokens are being used on the platform. This process is made up of six steps. It is called a cycle because it is continuous i.e step 6 leads back to step one. More details on it are as follows.

_Source

1. Step One: Buyers buy VRA

As the step name suggests, here different users wo have different needs for the token will go ahead to buy them from exchange sites using fiat money.

2. Step Two: Punlishers reward VRA

Here, the different people who publish videos and other things on the platform will pay all those who participate in them or watch the videos.

3. Step Three: Users earn VRA

All those at the other end i.e those watching the videos or playing games on the platform now earn VRA tokens from their activities.

4. Step Four: Verasity earns

Since both publishers and users are doing all their activities but on the Verasity platform, the platform gets a percentage reward from every activity performed.

Step Five: Stake VRA

Every body on the platform that owns or holds VRA tokens can now stake their to lend for rewards.

Step Six: Easy conversion for VRA

When holders have amassed a large or adequate amount of tokens, they can go ahead to sell them for fiat money or even other crypto assets on third party exchanges.

And the cycle continues back to step one.

• In order to create my Verawallet account, I go to their official website which is https://verawallet.tv/. Once there, I will click on create account since I don't have one.

• I am now brought to another page asking for my information. I select my desired language which is English, input my email address, password and read their terms and conditions which I click upon completion. When I'm sure about everything, I click on Create account.

• A pop up comes for me to a captcha test to verify if I'm human.

• Once I am verified, a confirmation code is sent to my email address which I then input and click on submit.

• Next, I am prompted to protect my account using 2FA.

• Next, I was prompted to give the code generated by my authentication app which I did.

• After that, I was given the chance to save my code which can be used to save my account in case if anything. I clicked on save the code.

• I had a problem when doing the authenticator registration so I had to do it again. When I got to this page, I returned to the homepage and signed in. I was then brought to a page to complete my information which I did. I then clicked on submit.

• I was now brought to my Verawallet account. And with that I am done creating and securing my account.

VRA is the native governance token used in the Verasity ecosystem. It is very important and vital on the platform. Now, how exactly can you use it or what can you use it to do? We can see the outlined below.

1. VRA tokens are used to reward users who watch videos on Verasity.
2. They are used to reward content creators for creating and publishing content on the platform.
3. They can be staked so as to generate passive income.
4. VRA tokens are verified tokens so they can be bought and sold.

In order to stake VRA tokens on Verasity, you can follow these steps.

• Go to https://verawallet.tv/and sign in into your account. While in the account, click on your staking wallet.

• After you have clicked in it, click on stake.

• On the page that follows, you'll now input the amount of tokens you want to take and click continue.

• I could not continue from here since minimum to stake is 10,000 VRA.

• First thing I do is to click on the link https://verawallet.tv/
• Next, I sign in using my login details.

• A pop comes for me to verify I'm a human so I do that.

• I am now prompted to use the authentication code generated by my authenticator which I do.

• I am now in my account. From there, I click on the three-lined options at the top right corner of the page.

• I now click on the Earn VRA option there.

• On the page that loaded, I scroll down to the active videos and clicked on that by technews.guru.

• I was taken to a new page with the video. There was a white trophy that prompted me to create my rewards program account so clicked on it.

• I inputted my email address, password and country. I also read the terms and conditions. I also did the captcha text and then clicked on create account.

• Next, I inputted the verification code send to my email address and clicked on submit.

• The account was now created.

• I went back to the video and clicked on play.

• At the start of the video, the trophy was white.

• When I was done watching the video, the trophy turned green.

• I now clicked on the green trophy and you can see that have successfully earned 1 VRA token.

That is all that there is to it.

The advertising industry has entered a new era due to the creation and advancement of Verasity. The concept of fake viewers is gradually going cold due to the Proof of View protocol employed on the platform.

It has also changed the video making and earning industry. This is because not only people with so many subscribers can monetize their accounts. On Verasity, every account is monetized and can earn.

Also, not only the content creators get paid but you can get paid just for watching the videos. So it's a platform for everybody who wishes to earn. It is also very simple to use and manage.

A big thank you to our dear professor who introduced this easy to earn platform to us. I can see many of the students earning there in the future.

NB: All screenshots are from https://verawallet.tv/

Thank you for reading.