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Social media, a relatively old concept and way of connecting people have existed since 1997. Yes, over 2 decades old. It has continuously evolved so much that we cannot fully comprehend it any longer!
And now there’s blockchain, again over a decade-old science, which has since taken off. We’d think that the only connection blockchain would have is with finance and technology. However, the reach that blockchain has is massive.
That’s what The LoveChain took advantage of unleashing. A way to bridge the gap between regular old social media, to the decentralized future version of it, via blockchain.
Basically, social media, aka The LoveChain, is where you are back to being the center of attention. The attention and care that you all deserve. A place where you are not tracked down for ad sales.
What inspired The LoveChain?
The LoveChain is a digital version of the lovelocks that can be found all over the world on bridges. It is developed as a social media platform to record and celebrate the people and things in our life that we love at all times of our lives.
Because it is based on the latest blockchain technology, it offers advantages in terms of uniqueness and security that are not available on regular social media platforms. Each user is granted their own piece of digital real estate to call their own as a result of the blockchain’s implementation. Free space for anyone and everyone. You have the power in your hands.
Users can produce and exchange content across the network without the need for any centralized mediators. The platform will include a complete rewards system powered by the LOVR (LoveChain rewards token).
In addition, the LOVR can be used to get discounts through the online merchant store within the LoveChain ecosystem, and users can also trade and send the LOVR tokens to one another.
The LoveChain is being built on the Algorand blockchain.
Since the blockchain is decentralized, this piece of real estate has the potential to last indefinitely, which is why their slogan is The LoveChain is Forever.
Primary goal
It’s critical to build The LoveChain platform on a decentralized network because it achieves the goal of providing members control over their data. Furthermore, because privacy is becoming more of a worry, as a result of traditional social media platforms’ indiscretions.
The LoveChain will impose restrictions on the type and number of adverts to improve the user experience and not make them feel watched.
The power of Networking embedded in The LoveChain
The power of networks is a vital success indicator for such business models, especially for social media apps, because they rely on the interconnection between their users. Metcalfe’s Law, a principle that is critical to The LoveChain’s success, best explains this interconnection.
In computer networks and telecommunications, Metcalfe’s Law is used to represent the value of a network. According to Metcalfe’s Law, the influence of a network is proportional to the number of nodes in the network. For example, a network with 10 nodes has an intrinsic value of 100 (10*10) computers, servers, and/or connecting users can be end nodes.
When determining the worth of its network, the aforesaid calculation gives social media a lot of weight.
The LoveChain recognizes the importance of Metcalfe’s Law and has devised a strategy to boost its network footprint in order to compete with the large social media platforms. As a result, they want to establish a one-of-a-kind offering, a sizable network presence, the ability to create your own NFTs from the content you post, an eCommerce marketplace, a rewards system to go along with it all, and a whole lot of #LOVE.
For more information on The LoveChain please visit: https://ift.tt/3n9kLtI
via NewsBTC