VIEWO - The Video Sharing Network Operates On Blockchain Based Award Systems

Juni 05, 2018

VIEWO - The Video Sharing Network Operates On Blockchain Based Award Systems

" A PLATFORM SHARING VOLVO REVOLUSIONER."

Viewo - is a hybrid P2P video sharing network backed by over 150 influencers with millions of followers. Viewo operates on a unique blockchain-based rewards system. All participants in the Viewo network are rewarded for their actions, big or small. Rewards come in the form of VEO Tokens, a block- chain-based utility token that has value in both the Viewo network and outside the Viewo network. Unlike current video sharing websites that operate on a self-serving basis, Viewo operates on a user-based approach, rewarding each individual user for actions completed and giving incentives to both viewers and content creators. Viewo is the only incentivized video sharing network that has the support and backing of a significant number of contemporary influencers.

Why Viewo ?
Viewo was born as the answer to the problems currently facing the video sharing industry today. While industry today ignores the needs and voice of participants, Viewo will reward each participant for the actions they take, big or small. On reward-driven platforms, users will be motivated to share content, comment, and generally more actively watch content. This, in turn will increase the popularity of their prizes (VEO Tokens), which can be used to make on-site purchases.

Our Technology
Viewo uses GPU servers in combination with our proprietary software technology, for live and on-demand video broadcasts. This allows us to post content at amazing speed. This industry calls it the Ultra Low Latency Stream we call Instant Buffer Video Screening. This allows us to provide the world's fastest complete solution for high-resolution streaming.

In real-time, we can stream live events with localized ads embedded into the video stream and stop popup blockers from deleting ads.

Our powerful servers can switch from GPU to CPU based on our streaming needs. We can encode videos quickly, allow content to play as soon as they are uploaded; no more delays like on competitor websites.

Editing software utilizes AI technology to enable content producers to improve their videos. Special off-chain micropayment technology that integrates with the web wallet.

Ecosystem Participants

The following participants will be rewarded with VEO Tokens on a weekly basis, as per the

mathematical formulas shown in Section 4:

Content curators: Defined as constituents who upload videos to the network
Content sharers: Defined as constituents who share videos via encoded links
Moderators: Defined as constituents who verify video ranking and patrol the network for manipulators and participants attempting to “game” the system
Video commenters: Defined as constituents who comment on videos
Video raters: Defined as constituents who select a 1-5 star rating on videos
Video watchers with no other actions: Defined as constituents who watch at least 1/3 of a video.

Ethereum & Micropayments

Viewo has chosen to work with Ethereum to create its blockchain-based network. Ethereum is a cryptocurrency developed by former Bitcoin programmer Vitalik Buterin. It went live in 2015 and is a public, open-source, blockchain-based (peer-to-peer), decentralized platform that runs applications in the form of code-based Smart Contracts (scripts), which is essentially a programming language that automates the execution of tasks that would otherwise be executed manually.

Ethereum is not merely an alternate payment method; rather, it monetizes its own workings to enable developers to build and run applications,

Practically speaking, this means that when a SmartContract is run on Ethereum, it is paid for with Ether, the cryptocurrency tokens that power the application of the decentralized network. Clients of the platform essentially pay the platform to run the app. Not all code-based SmartContracts are the same (some require more computing power), and thus, cost more Ether.

The Problem with Micropayments on Ethereum

The problem that any company faces when using a blockchain-based token is that the transaction costs (gas fees) are independent of the amount being sent. This means that a user can complete a transaction of $0.25, and the seller might have to pay a gas fee of ETH worth $0.15. This is not a viable solution.

Viewo creators have come up with a solution: payment channel technology with an integrated wallet. This technology allows users to complete transactions without committing all the transactions to the blockchain. This enables frequent, fast, and free ERC20 (the Ethereum token standard) token-based micropayments instantaneously. In terms of transaction costs, it means that unlimited payment transactions can take place without incurring high gas transaction fees. All the transactions occur off the blockchain.

Then, the payment channel groups all the funds together so that a blockchain only sees two transactions:

Opening a channel

Closing the channel

At the current ETH costs, a payment channel becomes economical for 10 or more transactions. Viewo has written a payment algorithm that can switch from a normal transaction to a payment channel using our custom ERC20 integrated wallet system (see 2.3 below).

Viewo off-chain transfers are performed instantly; as soon someone receives an off-chain transfer, the transferred value now belongs to that person.

This is very different from an on-chain transfer which depends on block time and the time it takes miners to pick the transaction from the pool of pending transactions.

Wallet System

At the time of this writing, a web-based wallet system that supports regular payments and payment channels does not exist for general use.

Viewo has developed a web-based integrated wallet system for our ERC20-based tokens, VEO Tokens, which will work with virtually all ERC20 compatible wallets (wallets that support tokens issued on the Ethereum blockchain).

The Viewo Wallet will be one of the first Ethereum wallet systems that supports payment channels. Our wallet is browser-based and lives in an iframe, allowing users to access it on all devices and without the need to download a browser extension and store private keys encrypted in the browser’s local storage.

Viewo's payment channel uses Ethereum's own security, only the sender and receiver are identified by their private keys, thus allowing them to interact with their channel, both on-chain and off-chain.

Transaction Privacy

Since the micropayments are performed off-chain, the token transfers are private. Balances are hidden from the public until the payment channel is settled, which means that it is extremely difficult to trace on-chain transactions. This will keep users’ video watching history private.

Security

Viewo will use AES encryption to store wallet data, with passcodes to store all private keys. AES (Advanced Encryption Technology) has been called the “gold standard” of encryption and has been a federal government standard since 2002. It is also the most popular algorithm used in symmetric key cryptography, which is used for SSL and TLS data transmission.

Viewo Wallet — Ease of Use

The Viewo team understands that most existing wallets are great for techies but confusing for common users; as such, the Viewo wallet system will be designed with simplicity.

VEO Tokens will be stored in an integrated, user-friendly digital wallet created or white-labelled by

Viewo, where users will be able to see their real-time balance both online and via the Viewo app that will be available on both Android and iOS devices. Users will also be able to send VEO Tokens to other Viewo users via the online wallet system and app.

VEO Token Campaign

Viewo currently has 2,000,000,000 pre-minted VEO Tokens. 564,062,500 VEO Tokens will be released during the private sale, pre-sale, and token sale. No new VEO tokens will ever be created.

As reported in Forbes, the popularity (and success) of token sales in startup funding has been on a “meteoric rise,” with nearly $2.3 billion raised through token sale campaigns, most of which took place during the first half of 2017.

Token Details