YOYOW - disecting the whitepaper

nutela (61)in #yoyow • 7 years ago

quick intro

I decided to check out this next Steem condender for China. Based on Graphene and it seems to be improving on Steem quite considerably. Boo-hoo @ned. Maybe you can steal some ideas there too? Just make sure to do it like Steve Jobs who quoted Picasso: "

Good artist copy, great artist steal.

comments stemming the whitepaper

no word about censorship, hmm are we in China?

“You Own Your Own Words”
More $$ = more voting power, exactly what kinda doesn't work in Steem

every user holding the token of a system has the right to vote, with the holding YOYO tokens as thevoting weight.

But here it says about preventing influential accounts from exerting decisive impacts on content voting weight.

RATING_FACTOR = 2, i.e., the voting weight will be doubled by consuming 10x coin days. On this basis, voting weight remains positively correlated with the consumed coin days, which prevents influential accounts from exerting decisive impacts on content voting weight.
Says it all: authorized registrar is entitled to grant/withdraw such accountholder's right of posting

Unlike BitShares or Steem, one mustcomplete registration procedures with an authorized registrar to open an account in YOYOW network. Additionally, the said authorized registrar is entitled to grant/withdraw such accountholder's right of posting anything on platforms and verify/take back the account name (alias).

Interesting; taking an example of an 30 day rating (steem 7)
It seems Yoyow wants you to use your real name?

The login site jumps to the OAuth destination site (e.g., WeChat, Twitter, Alipay) and requests authentication delegation.
Reposting / Resteeming grants awards even to the resteemer!

In YOYOW network, original authors are provided with repost permission settings and licenseagreements (e.g., Creative Commons license agreements) If an original author grants repostpermission, he/she will obtain no less than 20% of the incomes derived from the reposted content.Moreover, the reward incomes will also be distributed to the original author proportionally.
Wauw, investing in content creators:

With this function, users can invest in exceptional content produced by other users and gain returns from the investment.
Yeah really good to mention copyright China.. lol

Because the unique hash values of content recorded by YOYOW cannot be altered, platforms can collaborate with legal institutions to provide content witness and copyright protection service.
Interesting concept about advertising:

There will be diverse choices of advertising space and charging standards of different platforms in the advertising market build in the YOYOW wallet. Meanwhile, the performance and historical data (e.g., incomes, quantity of content) of these platforms will be disclosed for users' reference. A user may directly rent advertising space with YOYO tokens and provide advertising placement with approval of the corresponding platform. The duration and position of the advertisement are subject to the smart contract by and between the user and the platform.

Conclusion

Wow, what a short whitepaper! Very readable but if I didn't know Steem I'd had virtually no trust in Yoyow. The advertising model looks interesting but I have no experience in that field. However I do know about the click-fraud in YouTube videos, and other bots which are clicking on ads and it's a huge problem because good metrics makes a good estimate wether your marketing campaign makes sense.

You can't use it yet but there is a demo.

The whitepaper is very non-technical, at least for the English version. And no word about censorship comes in especially bad, China or not.

I think because of the huge population in China it will do better price wise but it all depends if they get rid of whale power like we have on Steem. Also the communist practices..with the registars..I would be great if someone from China who is here on Steem could comment on this matter!