#Q3: #challenge30days - What I Think About Snax Algorithm 🤔
Decentralised systems are reshaping lots of things in our daily activities. Among such decentralised systems which tends to leverage on our Social media interactions to reward users is snax
Are You Wondering, How?
In case you missed out on the information about #snax, a new blockchain set up that rewards social media activities, you can checkout the official website on https://snax.one for more info. You might as well want to read through the concise Whitepaper. It is worthy of note at this point in time, that the rewards for now are for twitter activities and the latest, which incorporates binding of the Steem accounts so that Steemians can be rewarded for their activities on the Steem blockchain. Let's take a look at what constitutes...
...The Social Activities That Are Rewarded
According to the information found on the whitepaper, the reward algorithm focuses attention on such parameters as
- Number of likes/upvotes your post gets.
- Number of retweets/resteems the post gets.
- Number of interactions/impressions the post gets.
- Number of prospective users that may likely see the post, that is, number of followers an individual has on his twitter / Steemit account.
To illustrate this, take a look at one of my tweet analytics based on a post I made as shown below
If you look at the number of times people saw the tweet, you will notice the number 774 by the side. What that translates to is that my #snax token rewards will acknowledge those impressions the tweet made. The More interesting part of the...
...Snax Reward Algorithm
Deals with the fact that an individual maintains his traditional audience without having to port to a new social media platform and start building from the scratch again. However, I'm a bit curious to know how the weights of the interactions of posts made on Steemit platform would be measured because of automatic upvoting system around here.
It would be nice to have @dragosroua or anyone from the @snaxteam respond to my curiosity about that. A sneak peek at the part of the whitepaper that illustrate the formula used in calculating the rewards are seen on the image below:
This is my Question 3 answer, submission to the #snax #challenge30days put up by @dragosroua
My Snax account name is emjoe4all
STAY TUNED TO, @emjoe
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Hi, @emjoe, I'm moderator of Snax and I will try to give a little explanation about the distribution of Snax rewards. First of all, we cannot say how many tweets, retweets, followers and votes you must have to get 1 SNAX. This depends on activity all users of social network. Snax as an overlay solution does not have access to the internal social media statistics for «ReachС» calculation (such as number of views, clicks, etc) Therefore, Snax introduces its own indicators:
To calculate these indicators, Snax uses KPI provided by the social platform. For example, for content posted on Twitter, Snax takes, retweets and comments for Interaction Level calculation and count of followers for Account Weight calculation. Very important that A weight of KPI also depends on the Weight of the publisher (That is, the weight of a like or retweet for each account is different)
For example, if your tweet have 774 views, it's more than has an average post on twitter? we dont know, maybe yes for this week, but not for last. And agree, if retweet your post makes a famous person like Ilon Mask or Kim Kardashian, it should have more weight.
Snax analyzes all the activity of social network users for a certain period and determines the indicators so that the entire system during this period corresponds to the weights system incorporated in the calculations. This works like indexing pages in Google. The exact formulas for the calculation are not open information, but we have long worked to make the distribution of awards as fair as possible in our opinion. You can look at a few different accounts here https://snax.one/twitter?page=1 to have a feel of the numbers yourself. The fundamental differences in the approach to remuneration between Snax and Sneem can be found in the article https://hackernoon.com/decentralizing-social-media-rewards-steem-and-snax-comparison-ac17201824cc. In short, the weight of your account in Snax and the amount of rewards depends only on your attention rate, and in Steem on the number of STEEM POWER those who upvote your posts
Thanks for the detailed explanation.
I'm a bit curious as to why the above exist, or doesn't it give room for gaming of the rewards system?
I appreciate your input so much. Thanks for dropping by
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Sorry, don't understand your question well(
I saw also you asked about mobile wallet app. Our team is working on this, but there are no exact dates.
Congratulations, upvoted and send 5 SNAX to you at @emjoe4all
Thanks so much. I got the notification on twitter.
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