What is Contentos (COS)? COS Cryptocurrency Complete
Description of What is Contentos (COS)? COS Cryptocurrency Complete
Contentos is one of the projects in the Blockchain Incubators of Binance Labs.
This is one of the projects that the community is very interested in. Today, I will learn with you guys about Contentos Token (COS).
What is Contentos (COS)?
Contentos is Blockchain Platform. The project team wants to build Contentos into a private Ethereum Blockchain for digital content.
According to the definition of team dev
Contentos is a decentralized content sharing ecosystem.
Their purpose is to create an ecosystem where the products of manufacturers, distributors, and authors are considered assets.
And they benefit from their contributions.
The vision of the project is to build Contentos into a Public Content Protocol that not only delivers value in terms of content and advertising. It's also the string that stores the user's contributions.
As defined by Coin98
Contentos is Blockchain Platform.
In it, they focus on building a decentralized ecosystem for the production and distribution of digital content.
Everyone, including manufacturers, distributors or end users participating in this ecosystem gets value from their contributions.
At the beginning, Contentos was built on the foundation of the Ethereum Blockchain. Then will switch to its own Blockchain after Mainnet.
According to the admin's announcement on Contentos Group Telegram, Contentos conducted net testing in February 2019 and Mainnet will be implemented in September 2019.
What is the problem that Contentos sets out to solve?
Unable to authenticate digital assets
In the digital asset ecosystem, it is not easy to value and retrieve ownership of digital assets since they are available on many different platforms.
Lack of transparency in pricing and profit sharing for contributors
Advertising prices are not public, profits from digital content are divided to pay for many unnecessary participants. As a result, content creators receive very little profit from the production of their content.
The distribution of traffic is uneven, focusing only on profitable places
This leads to unfairness for emerging content producers.
User comments and interactions are not transparent and easy to fake
And... this leads to a misjudgment of the content's value.
How will Contentos solve that problem?
Contentos launched its own Blockchain to solve the above problems - Contentos Public Blockchain.
This includes the following features:
- Identity Authentication. The identity information of each user will be recorded and stored on the Blockchain. Including information of digital content.
- Content copyright issues The content in the Contentos ecosystem will be recorded on the Contentos Public Blockchain in detail from the time it was created to the transactions of that content. Anyone can access to check ownership and transaction history of that asset.
- User Credibility All user behavior including comments and reactions will be recorded on the User Credibility system. Users will be responsible for their own actions. It will directly affect the rewards they will receive later.
- The Contentos blockchain is a Public Blockchain, with a Smartcontract that supports the mechanism running on the Contentos Virtual Machine (CVM).
- Users can store on Contentos Blockchain in the future as the platform expands and matures.
What is Contentos Token (COS)?
The Contentos Token (COS) is a Utility Token within the Contentos network.
At the moment, COS Token is running according to Ethereum's ERC-20 standard.
The dev team is planning to launch the Mainnet on September 27, 2019. After the Mainnet time, COS will be swapped 1:1 from ERC-20 to Contentos Blockchain.
Vodi X Token (VDX) Basic Information
- Ticker: COS
- Blockchain: Ethereum
- Token Standard: ERC-20
- Token type: Utility Token
- Smart contract: 0x589891a198195061cb8ad1a75357a3b7dbadd7bc
- Decimal: 18
- Total Supply: 10,000,000,000 COS
- Circulating Supply: 0 COS (the token has not been officially circulated on any exchange on May 20, 2019).
Token Allocation COS
(*) 4,000,000,000 COS Token will not be put into circulation in the first phase. It will be used as a reward for Content Creators and Miners and distributed over 12 years based on the number of participants.
Token Sale COS
Private Sales (Investors & Advisors): 3,000,000,000 COS Tokens. accounted for 30% of total supply.
About the price of Private Sales is not officially announced by the team.
Information about Public sales or IEO , ICO has not been officially confirmed by the project.
Token Release Schedule COS
Note: Contentos only announced plans to pay 40% tokens of Ecosystem Operations and 5% Annual Release, but offered plans to pay tokens of Private sale as well as dev team..
COS Token Rate Today
What's outstanding about Contentos (COS)?
In this section, I will talk more about the mechanism of action and the components inside the Contentos ecosystem.
Incentive mechanism to participate in the Contentos ecosystem:
Users who participate in contributing content will receive a reward of COS Token.
The amount of Rewards they receive is based on: The amount of COS Token they previously held, the amount of digital content they contribute, the frequency of content contributions.
In the first stage, when there are few participants, the amount of reward for these contributions will be high. Then the reward will decrease to 0.
At this time, the Contributors will no longer depend on the reward, but they will make a profit from the ads, subscriptions (on their products).
Mechanism to encourage interaction:
Digital content viewers will receive rewards when they leave their reviews, comments, reacts to that content.
Based on each of those comments, other viewers can react “thumbs up” or “thumbs down”. If Up is greater than Down, that User will receive a reward.
Mechanisms to encourage the censorship community:
Participants who help browse content on Contentos will receive a reward from 5% Communitie's Cooperative.
Mechanisms to encourage producers to provide quality content:
This is controlled through the Contentos Credit system - credit score.
This number of points will directly affect the amount of rewards they receive. So it incentivizes producers to contribute quality content to get more rewards.
The number of rewards is also influenced by the amount of COS Tokens they hold and the holding period.
What is COS Token used for?
With an ecosystem and incentive mechanism designed like on COS Token inside Contentos will be used for the following purposes:
Used to pay in the system:
- Content producers must submit a COS Token to gain access and upload their content to Contentos.
- Content producers and viewers who must hold COS Tokens are rewarded based on token holdings.
- Viewers of content must use COS Tokens to pay viewing fees for requested content.
- Hold COS Token to become Council Member and receive COS every year.
- Advertisers must use COS Tokens to pay for their advertising content on content products within Contentos.
Used to pay:
- COS Token is used to pay content contributors who view content and leave review comments.
- COS Token is used as a reward for developers to help detect bugs and operate Contentos' system.
- COS Token is used to reward Developers who create dApps on the Contentos Blockchain. These dApps will help the Contentos ecosystem to expand and attract more users.
- COS Token is used to reward Contentos Bookkeepers. They are nodes inside the Contentos Blockchain that help confirm transactions.
COS Token Transaction Fee
Currently, COS Token is ERC-20 on the Ethereum platform , so you have to pay the following fees:
- Trading fees on exchanges.
- Deposit/withdraw fee (if any).
- Transaction fees in the Ethereum Blockchain network (after Contentos switches to its Blockchain, this fee will be collected by the Contentos Blockchain).
How to earn and own COS Token
Some ways to own COS Token:
- Become a contributor to the ecosystem (Content Producers, Viewers, Developers, ..) of Contentos to receive a reward of COS Token.
- Buy COS Token directly on the exchange after it is officially traded.
- Join Contentos Bouty and Airdrop programs.
How to mine COS Token?
COS Token cannot be mined with miners like BTC or ETH.
But you can become contributors to the Contentos ecosystem and receive COS Token rewards.
COS Token storage wallet
Contentos has its own wallet for its ecosystem.
In addition, as an ERC-20 token of Ethereum, COS Token can be stored on many wallets that support this form.
- Soft wallets: MyEtherWallet , MetaMask Wallet ,..
- Hardware wallets: Ledger Nano, Tresor, ..
COS Token Exchange
Currently (May 20, 2019) COS tokens have not been officially traded on any exchanges.
The future of COS Token
The goal of the dev team is to create a Contentos ecosystem where everyone can participate in building the system and get rewarded for their contribution.
Currently, on the Contentos ecosystem, there are nearly 3.5 million Videos and 159 million Live Streaming.
This amount of digital content will increase in the future as the Contentos ecosystem expands. As demand for COS Token storage increases, the value of COS will increase in the future.
Should invest in COS Token
Some of the Keypoints I'll note down so you can learn more and make your own investment decisions:
- COS stands for Utility Token.
- The main function of the token in the Contentos ecosystem is to pay and reward service users and contributors.
- The amount of tokens mined through reward activities increases every year (according to Contentos).
- Contentos is a project within Incubators of Binance .
summary
This is one of the projects that the community is interested in. Hopefully the last article has helped you understand more about the Contentos project and COS Token.
If you have any questions, please leave a comment at the end of the post! I and the Coin98 team will answer you as soon as possible.
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