Home CryptoNews Companies Provoco.me: Social network of tokenized challenges

Provoco.me: Social network of tokenized challenges

Social networks have proven to have an undeniable impact on the development of the dynamics of interpersonal, business and commercial interactions. Today the world would be inconceivable without the presence of social networks. However, not everything is said or done on this subject, and blockchain technology is proving to successfully cover many application possibilities, among which social networks will also have their prompt and effective sample. That is why this time we will talk about Provoco, a different social network whose main axis is the creation of challenges. Let’s see what’s going on.

The main idea of Provoco is to create a social network that consists of a complete ecosystem, where many projects have a place. On the main basis of offering challenges of different nature whose tokenized reward serves different purposes, the search and review of attractive content and advertising opportunities throughout the whole network will be encouraged.

The Provoco developer team found a unique niche for a social network that is also a platform for generating quality content, and that is not having a platform that is able to unite people who fight or participate motivated only by challenges, the opportunity was genuinely original. And by setting the example, Provoco took on the challenge of developing the first social networking platform of its kind.

The motivation to create or generate content is given for several reasons; It can be spontaneous, or planned, or it could be caused by emotions, reflected in something the user has experienced. One of those causes is the challenge, and Provoco.me focuses on it.

Provoco will have the functions that we usually find in social networks, and for the functioning of the dynamic of the challenges, intelligent contracts will ensure that the agreement between the author of the challenge and the executor is legitimate. To assess the challenges and their execution results, a reputation system has been created which will allow the community of Provoco to make a decision without subjective prejudices when confirming the challenges.

As they explain on their website, this system will be based on the social grouping mechanism and eliminate the possibility of cheating in any way. This system could also be in e-democracy projects, where an opinion without prejudice is needed, so its potential is promising.

The dynamics of the challenges in this social network would be like this:

Author of a challenge can create a challenge for him or for other users in general and establish a certain virtual money prize VOCO, which is the token of this social network, which is assigned to the challenge once completed. The smart contract is signed with the challenge author and his virtual money is frozen until the contract conditions are met, so the money is transferred to the executor of the challenge or returned to the Challenge Author if it is not executed. The contract conditions are recorded in the Blockchain of the network.

All network users can support a challenge with the amount of VOCO they want and increase the VOCO fund of the prize.

Testing the execution of the challenge is essential. One of the obligatory conditions is to make a live transmission in the system during the achievement of the challenge which will allow to fix the exact time and place of the achievement. The video of the achievement in turn will be published automatically in the system. In addition, the executor of a challenge can provide additional material that demonstrates the achievement of the challenge during the next 24 hours.

The approval of the challenge is confirmed or canceled through the use of the reputation system, and the decision is recorded in the blockchain of the network. Once the challenge has been approved, the executor is informed of the amount of VOCO resulting from the original prize notified by the author of the challenge, plus the prize increases, if any, made by other supporters in the network.

The idea with all this is to create an exciting and fun content that generates in itself a unique content that receives viral attention and recognition by the community, and is also rewarded. Provoco is therefore a generator of organic viral content, where people can create and face challenges, with real economic value associated with the particular content.

The challenge as an activity is an interaction between people, which can also be valuable if it is used to help raise funds for a good cause, for example. Examples of challenges that can be carried out in Provoco can be: Brand recognition campaigns financed by companies; Sports competitions for new world records; Challenges of progress for engineering, science, arts in general; Fundraising to help in case of natural disasters, charities; Health challenges to stop smoking or reduce some weight; World singing competitions, dance and any valid ideas can occur and be proposed in the Provoco network.

The VOCO token is compatible with ERC20. This token will be used for all exchange operations between users in the social network, and  its main use being destined to the challenges, as we already explained. The secondary use of the token is to serve as a reward for daily social activities, such as posting content, giving likes, voting, gambling and other actions of the network.

Only 100 million VOCO coins will be created. The standard value of the token is 1 ETH = 1000 VOCO.

 To be up to date on the progress of this innovative social network we recommend following them on their Telegram channel.

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