Gradually Formulating The ColorlessPaper For Our Side-Project ‘CryptoUlogs’. Part 14!

Read part one, part two, part three, part four, part five, part 6, part 7, part 8, part nine, part 10, part 11, part 12 and part 13.

Cryptoulogs.com And The Hive Blockchain

Note too, that the concept of ‘ulogs’ has history on Hive. Starting out on #ulogsome 3-years ago, it has invited participation from more than 5,000 Steem/Hive-users, helping us build a discord community of more 5,000 people.

Besides ‘permanence for our cryptoulogs’, by means of the Hive blockchain, we will adopt a large community, that native to Hive itself.

When ‘cryptoulogs.com’ starts, it will have a user-base. It will not start afresh!

Being ‘cryptoulogs.com’ however, we intend to target everyone. This means that our user-interface will be open to sign-up(s) from everyone. Users can interact with ‘cryptoulogs.com’ to a certain extent, needing of a Hive (blockchain) account to access its ‘blockchain-features’.

Looking to reward ‘human activities’ across ‘cryptoulogs.com’, we have created a digital-currency called ‘ULOG’. This is a Hive-based token.

The Hive blockchain itself has its native token called ‘HIVE’. Using a ‘proof of brain’ reward-model, it rewards ‘content’ published to the Hive blockchain. This means that users of ‘cryptoulogs.com’ will be able to earn ULOG tokens, our native digital-currency, in conjunction with HIVE.

To implement our own reward-distribution model called ‘proof of tears’, we have needed to create our Hive-based token called ‘ULOG’, with its own parameters. This way, we can better reward ‘cryptoulogs’.

Other features that we will be able to implement courtesy of the Hive blockchain is our basic DEFI-layer, that allows users to earn from ‘staking ULOG’. There is also the ‘delegation feature’, which allows one user to delegate the ‘influence’ of their stake to another user.

While the Hive blockchain is free to use, it still has some limitations that quite hamper its growth, things like ‘governance’ etc. ‘Cryptoulogs.com’ provides us with an extra-layer on top of Hive blockchain, that allows to focus on user-growth.

Here are other reasons why we have chosen to build on Hive:

  • We have had some experience building on Hive e.g steemgigs.org, ulogs.org, marlians.com
  • The Hive community is generally supportive of DAPPS that build on the Hive blockchain, even in terms of ‘contributing code’.
  • Hive is continuously advancing its blockchain to support ‘social media’, allowing us to focus on the growth and development of ‘cryptoulogs.com’.
  • ‘Cryptoulogs.com’ will be able to interact with other Hive DAPPS.
  • Access to ‘growth-tools’ native to the Hive blockchain e.g we don’t need to maintain a block-explorer etc.

Would you like to help with building Cryptoulogs? Are you a programmer? Contact me via ‘comsilbronze4@gmail.com’.

Your Boy Terry

@surpassinggoogle

Originally published at https://steemit.com on August 29, 2020.

I am a lot. A lot. I have many goals that are refusing to come to life. I am forcing it. Fuse me. Help me, help my voice be heard. The Internet’s mad man! Yours