By the time this is published, the Genesis block of LikeCoin chain has been produced. If that is not your language, try to understand it this way: the Republic of Liker Land was established on the cyberspace.
This article introduces the elements and the mechanism of Liker Land, using as little technical jargon as possible. Developers are encouraged to check out our technical documentation or, better yet, our source codes which are open on GitHub.
A distributed ledger of the Republic, the open government of Liker Land. A sovereign, application-specific blockchain designed for content creation and information property management, offering high-speed, low cost, and most importantly, independence. Data on the LikeCoin chain is open and can be visualized on Big Dipper.
The very first beta of the LikeCoin chain, code-named KaiTak, was released on Apr 2019 and was upgraded to Taipei on Sept 2019 as the new beta testnet. T he first public release of LikeCoin chain, SheungWan, was just launched on Nov 15, signaling the establishment of the Republic of Liker Land.
What LikeCoin Offers
The heart of Decentralized Publishing is decentralized registry powered by ISCN, a specification we drafted in collaboration with the industry. Borrowed from the concept of ISBN for books, ISCN is a unique identifier assigned to content such as articles and images and comes with metadata such as author, publisher, content address, license terms, and creation footprint. Stored on LikeCoin chain, ISCN is immutable and censorship resilient. The content, on the other hand, is stored on IPFS for tamper resistance and peer-to-peer distribution.
By simply attaching a LikeCoin button beneath your content and without setting up a paywall, every Like by readers is turned into measurable rewards in LikeCoin tokens. The Civic Liker movement encourages readers to contribute USD5/mo to reward creativity and journalism, while the matching fund, distributed according to the Likes of all users, doubles the rewarding pool. With decentralized rewards, every Like count.
Apart from rewarding creators as a Liker, readers may go further to become a Content Jockey. Content Jockeys help distribute creative stories and insightful commentaries with Super Likes, which are purposely designed to be scarce to cut out noise from signals. When a story gets popular, LikeCoin’s unique distribution footprint rewards both creator and Content Jockey, creating an all-win situation for the content ecosystem.
Not only is LikeCoin token a reward to creators and Content Jockeys, but it also serves doubly as the governing token for the decentralized autonomous organization (DAO), namely the Republic of Liker Land. Likers participate in liquid democracy by delegating their LikeCoin tokens to validators they trust and freely switch among them without a fixed term of office. Issues such as default Content Jockeys, inflation rate, and protocol updates require passing a corresponding proposal by the Republic.
LikeCoin is used by various platforms to decentralize publishing and has cultivated a vibrant community. As of August 2020, Republic of Liker Land has 80,076+ Likers, 289,923+ content by 11,040+ creators on 1200+ media.