YOYOW as STEEMIT

YOYOW, named from “You Own Your Own Words”, is a blockchain-based network aiming to quantify contribution and give rewards of participants in the content producing sector with decentralized consensus methods so that content producers, content investors, curators, and consumers of the content ecosystem can be provided with incentives and returns as appropriate.YOYOW is designed for establishing a rational content-generated income distribution mechanism and a value network based on users' ratings on content. Any content platforms (including but not limited to websites and APPs), regardless of their themes presented in the format of text, video, image, audio or live broadcast, etc., are eligible to create the corresponding content-oriented incentive platforms based on the YOYOW network. Content producers, content investors, curators and builders of the content ecosystem will be rewarded according to the YOYOW eco-environment and users' ratings of content.
Background:
Active users, premium content providers and spreaders brings massive traffic and billions of dollars of profit to social media platforms such as Facebook, Twitter and Reddit. However, users on those platforms have no monetary reward, and the contribution of platform users is neglected by shareholders. Users don’t own the content they produced---neither the control nor the profit. YOYOW takes advantage of blockchain technology to build a transparent and highly effective evaluating system. Furthermore, YOYOW fairly quantify the contribution of users and pay them by money and shares. Additionally, by giving users the rights of control, management, and dividends, YOYOW redefines the community ecosystem and economic model to create a new social media platform.
Blockchain technology:
YOYOW is equipped all advantages of blockchain technology including decentralized, security, privacy protection and entire control by users etc.
Content incentive :
YOYOW adopts algorithm of POT(Proof of Taste) to reward content creators, spreaders, and the third-party platforms are also able to receive rewards.
Multiple Content Types :
Text, photos, videos are accepted on YOYOW, and content on YOYOW can be shared on reddit, twitter, blog, Quora, forums etc. Users receive rewards if the content are created by themselves.
Technology advantages:
1.High efficiency
Graphene toolkits allow fast transaction confirmation at the average speed of seconds and efficient transaction processing.
2.Elasticity
Convenient plug-in development and third-party access
3.Light
End-users is able to access YOYOW directly without downloading entire blockchain data
4.convenience
Supporting varieties of device includes web, App, PC, etc.
5.Participating
Token holders have the right to vote to decide major matters of the community
6.Advanced multi-signature
More convenient, more flexible, more security
Investment value
1.Broad market
Thousands of communities of UGC, which has trillion valuation.
2.High frequency application
YOYOW is one of the highest frequency and the lowest entry barrier blockchain application, which will have high reputation and large amount of users.
3.Innovation
YOYOW balance the relationships between creators, curators, and consumers in UGC with the most rational incentive algorithm and system and the lower operation cost, which is more competitive and more attractive than traditional UGC platforms.
4.Ecosystem
YOYO is the basic token in YOYOW UGC content ecosystem and it can be used to purchase advertising, service, and use it as transaction tool etc. the demand of YOYO will be increased with the development of the YOYOW network.
Thanks for read!