Reputation Ranking of Internet users and monetary reward according to the value of reputation.
ThanksCoin allows the Internet users:
- to vote for the favorite bloggers, media, communities or any other projects increasing their reputation value and to give them financial support
- to take part in the Ranking as author (blogger) and to create own Project raising money from the Internet community
- to create social group on the Internet with public rules of governance and fundraising
It means that from today you can express gratitude giving rewards to your friends, projects, media, communities and just any people you like.
Put your favorite musicians, writers, journalists, consultants, politicians at the top of rankings.
Registered ThanksCoin users receive the individual Thanks-links, that can be pasted into their posts on Facebook and other sites. Thanks-link is connected with the wallet-contract, which is created automatically during the user registration.
When the user wants to thank the author of the post or or any other project, he clicks the "Thanks" button in the post increasing in this way their reputation value. At the same time, the click makes a transaction for 0,1 USD from the user's wallet-contract to the general Ranking account.
Once a week all sum from the general Ranking account is distributing according to the each Group conditions:
For instance, there are the following rules of value distributing for the General group:
- 70% - paid to Bloggers proportionally to their reputation value
- 30% - financing of the Projects those ThanksCoin users voted for
We developed a special software extension for Chrome Web browser that makes use of ThanksCoin more attractive, showing Thanks button instead of links in a post on Facebook -
ThanksCoin doesn't get any kind of payments from its users for site services except payment for transactions which Ethereum holds automatically. It's about 0,001 ETH (approximately 0,1 cent USD) for each.
All information about transactions and algorithm of distribution to Bloggers is public. Thus, anyone can test algorithm and voting results.
What is "Thanks"?
The sum of received Thanks determines value of Reputation for each blogger.
- Reputation depends on the amount of "Thanks" received for every post, and also on the reputation of each user who gave this "Thanks".
- At the beginning, each userâ€™s reputation equals 1 standard unit. Then all received "Thanks" from others will increase the value of her/his reputation.
- There is also a mechanism for gradual reduction in value of the received authority in length of time in the ThanksCoin.
- "Thanks" has also financial (money) equivalent. A cost of every given "Thanks" is 0,01 Ether.
ThanksCoin Reputation Ranking is based on the similar principle as Google PageRank. Cartoon illustrating the basic principle of PageRank.
It is not the only algorithm used by Google to order search engine results, but it is the first algorithm that was used by the company, and it is the best-known. PageRank works by counting the number and quality of links to a page to determine a rough estimate of how important the website is. The underlying assumption is that more important websites are likely to receive more links from other websites. The size of each face is proportional to the total size of the other faces which are pointing to it.Of course, this algorithm is used not only by Google, it is also widely known among scientists.
Some technical features
ThanksCoin is based on Ethereum cryptocurrency platform that provides functioning of the independent decentralized platform for Bloggers Ranking and social Projects. It also allows making transactions between users in accordance with the terms of the contract. You can learn more about opportunities and benefits of Ethereum on www.ethereum.org.