It has been ages since the last time I have posted something about steemit or projects that has integrated with Steem blockchain. If memory serves me right the last time I wrote something about a Steem-related project was during the Obyte (ByteBall) integrationwhich was around a year ago (which reminds me the other half of the airdrops for Steem attestations should be released in a couple of weeks). A great part of my time when I was away from Steemit was spent discovering new blockchains and dApps which led me to the discovery of this new gem— Snax.
What is Snax?
Snax is a new blockchain platform which according to their whitepaper is based on EOS. It uses the same consensus protocol implemented by EOS, Delegated Proof of Stake (DPOS), which is scalable, secure and somewhat decentralized.
However Snax accounts are totally free unlike EOS which requires you to stake certain amount of EOS to create an account and as resource for interacting with EOS' Blockchain. In my opinion Snax has avoided a major barrier to entry for new users. There are a lot of distributed ledger technology out there that allows users to test out their platform without having to pay for their accounts and asking them to pay just to test something that they don't yet fully understand just turns them off. I think this is one of the major pain points of prospective EOS users.
Snax positions itself as an overlay solution for existing centralized and decentralized social media networks such as Facebook, Instagram, Twitter and Steemit (including its condensers). This means that Snax will not be creating its own content publishing platform but will enable existing social media networks to use its utility tokens to reward content creators.
Snax Tokens
Snax token is the basic utility token of the Snax blockchain with the following main use cases: purchase of network's computational resources, regular Publisher Rewards payments, block producers rewards payments and voting for block producers.
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The total supply of Snax Token will be 100 Billion tokens. 16% of all the supply will be pre-mined by the Snax foundation and the remaining tokens (84%) will be distributed available for mining by Snax users as a Regular Publiser Reward. The majority of the pre-mined tokens are kept on the special escrow smart contract, which doesn’t allow Snax Foundation to use the budget uncontrollably and the others will be the primary resource for account creation and free transactions within the network.
How to join?
As I have mentioned above Snax was primarily designed as an overlay for existing social media networks and currently is supporting Twitter and more recently Steemit in its platforms. This means that users who have linked their Twitter account and Steemit account to their Snax account will be legible to partake in the free distributions of Snax.
Those who are interested in joining the plaform can go to this site https://snax.one/ and perform the necessary procedures to join. I will make a tutorial how to setup the account with some video demonstration on how to link Twitter or Steemit to Snax in the future, please watch out for those in the near future. It is not that hard to setup but for greater ease of adoption I think a step-by-step tutorial would be in order.
Currently Snax can only be used by computer users through the use of Snax.one chrome extension. Mobile application is still under development and plans to include Reddit and YouTube is underway according to their road map in their website.
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How to earn Snax Tokens?
According to the their site there are two ways to earn Snax Tokens:
(1) Keep creating content interesting for your subscribers. The more interactions your post causes (comments, likes, reposts, and so on), the more your Publisher Reward. (2) Become a Block Producer. More information about Block Producers Rewards you can find in Snax whitepaper.
Actual rewards for publishers depends on several metrics which basically computes for the attention your post has garnered and the influence you currently poses. A more detailed explanation is indicated in their whitepaper which you can find the link on the last sentence of the previous paragraph.
That is it for now friends I hope you found my blog-post interesting and informative. If you like this content please consider upvoting the article I really appreciate your support and consider following me and sharing this to your followers by resteeming. Good day to you all!
If you need assistance you may contact me on my social media accounts:
https://www.linkedin.com/in/anidel-silvano-48391513b/
https://twitter.com/AnkarlieSantos
https://steemit.com/@ankarlie
http://www.youtube.com/c/AnidelSilvano
Seem to be a very exciting integration :)
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