This Video Explains The SPEAK DAPP
The foundation of the entire network is the opensource dapp that stores on IPFS.
The Speak Network Incentive Layer
The Speak network is run by a Service Infrastructure Pool, or "SIP" for short.
All payments made to the Speak Network go to the SIP, where it is locked forever in a liquidity pool where it'll steadily accrue more value via Defi fee generation.
Think of things like permanent liquidity in a dex collecting trading fees, loans, the idea that money makes money, and with defi, we can do this in a decentralized way.
The principle is never touched; the SIP uses fees generated by defi to stabilize the network
To understand how the SIP generates funds, I have first to introduce the three tokens that power the speak network.
LARYNX - LARYNX is special because it's a miner token, it is fungible, and you can stake it to mine on the Speak Network; the more LARYNX tokens you have staked, the more SPEAK tokens you earn from your mining.
SPEAK - Capped Governance Token - Stake to vote in governance & proposals and earn BROCA.
BROCA - Like fungible resource credits - users need a tiny bit of BROCA to upload to the network; this prevents spam and pays miners.
Payments to The Speak Network
LARYNX Miner Tokens will be given freely to HIVE holders, one for one based on HIVE stake.
After the initial claim drop (details on that below), moving forward every year, a slightly improved version of the LARYNX Miner Token comes out. Meaning, the new LARYNX Miner Tokens will earn slightly more SPEAK than older generation miners. It will be a good idea to get a new miner at least every 2-4 years (if not every year.) After the initial free LARYNX Token distribution to HIVE hodlers, to get the new miners each of the following years, users need to send SPEAK to the SIP.
However, before the SPEAK gets into the SIP, it is chopped three ways to SPEAK, some burned to mint BROCA, and the rest sold to buy HIVE. The SPEAK/HIVE/BROCA are then sent to the SIP and locked permanently.
All payments made to the network use the same method, including the Ad System, and users who pay a small fee to upload videos/images to the network to be stored permanently.
Why, send three tokens to the SIP, including Hive?
First, you need at least two tokens to complete a trading pair. We want at least one liquid token from outside the Dex, and since HIVE is liquid, we wanted to add a bullish sink for the HIVE token. Also, we need a liquid market for miners selling BROCA and for users/platforms that wish to buy BROCA. The SPEAK/BROCA/HIVE go to the SIP, where they will act as trading pairs vs. one another, providing an ever-increasing, permanent liquidity pool for each pair.
The goal is to have the most liquid dex for SPEAK/BROCA/HIVE on the market; high liquidity means little slippage, which is the crux of what most people use Cexes.
Once the most liquid Dex for SPEAK/BROCA/HIVE trading pairs, fees generated from trading pairs should increase due to the desire for liquidity.
When the SIP can reach a critical mass of funds, the community can use the profit from those funds for other things outside of stabilizing the network (assuming the network is stable and there are excess fees.) Proposals can receive funding by the extra fees, building stuff on Hive/Speak network, and users can use their staked SPEAK to vote on what they want the SIP to budget.
The idea is to replace an inflation-based model with a SIP that uses defi fee generation to fund the network.
There is finite SPEAK, and every year people will be sending more speak to the SIP for new LARYNX Miner Tokens, which leads to less supply for SPEAK continuously.
Who Are The Miners?
Miners can be sites/platforms, users, anyone that stakes at least one LARYNX Miner Token and provides resources to the network is eligible to mine SPEAK.
Who Receives Rewards On The Speak Network?
Service infrastructure Nodes, SINS for short, are getting rewards from the Speak Network.
To start mining will be easy and all from inside the dapp itself. Stake at least one Larynx Miner Token and flip on toggle switches from within the dapp to enable mining of all kinds. Things like providing hard drive space for storage and or bandwidth for encoding and CDN can earn you speak tokens.
We want to make it as simple as possible by doing all the work on the backend; all you do is download the app and flip yes to what resources you want to provide without technical; we want grandma mining SPEAK.
Proof of Access
PoA is where miners mining videos/images into the network will need to prove they have a previous random block declared a recall block.
The trick is that the miners don't know what the recall block will be; it's randomized, so to mine new blocks, miners are incentivized to store as many blocks as possible. If the miner has the entire network downloaded, that miner will collect a share of the reward 100% of the time. When mining and the miner do not have the recall block asked for, they earn zero rewards for that block. (more details on PoA in the whitepaper.)
Smart Contract Layer (HIVE)
The Smart Contract Layer (SCL) will handle all of the payments to and from the SIP. The SCL handles paying the Miners/SINS and compensates the network when the BROCA fee is insufficient.
THE SPEAK NETWORK OVERVIEW (SIMPLIFIED)
- When a user uploads videos/images, the BROCA fee goes to the SIP in how I described above. All payments are sent to the SIP. The SIP then uses Defi fee generation to compensate the network by paying miners and nodes. And of course, the miner and nodes are sites like 3speak and others, users like you and me, and anyone else that has access to at least one Larynx Miner Token and has extra bandwidth and storage to spare.
CLAIM DROP
The reason we did a claim drop and not an airdrop is because we are dropping miner tokens. We want the speak supply to start at zero and give everyone on Hive a chance to be the first to mine it. If we airdrop miners idle users, it isn't suitable for the network. We want as many active miners as possible, or we want those Hivers who wish not to mine to sell their miners to people who want to mine. Idle miners accomplish none of that.
The way we thought this would draw excitement is a year-long claim drop. There will be a one time snapshot of everyone's HIVE balance for the LARYNX Miner Token claim drop. Hive users can claim their tokens every month, and if you claim each month for the entire year, you will get 100% of your LARYNX tokens for free.
All unclaimed miners go to a pool where at the end, the Hive community will vote where they go. The idea here is to try and bring in outside platforms; instead of being divided, we can all work together; that's what web 3.0 is all about.
We will make a public announcement ahead of time, and platforms can then throw their hats in the ring for those who want to have some ownership in the Speak Network. 3speak will have no more ownership than anyone else, and we will need to be voted in just like everyone else to receive any of the unclaimed tokens.
We hope this creates a buzz over the year!
Our sales pitch to the alt space platforms is "Get paid by doing what you're already doing, plug into the Speak Network, share resources, and receive compensation all while helping decentralize web 3.0!"
If we can land a few, they might act like dominoes and create an exciting atmosphere. We believe this can make the ultimate network effect!
RECAP
The SIP locks in payments & fees that will grow forever and pays out services & proposals.
Miners & nodes help with infrastructure and get rewards.
The claim drop is fair and helps the community grow a larger network effect and gives equal amounts of unclaimed tokens to other alt space platforms and or deserving Hive projects, as voted for by the Hive community. The idea is to draw in people from the outside, but deserving Hive projects that want to commit resources can always throw their hats in the rings.
All of you can earn rewards by helping to run video infrastructure!!!
All of you will be able to integrate this into your front ends!!!
ROADMAP
A few details not in the talk will be in the whitepaper:
If the SIP collects little profit from the defi fee generation, the Miners/Ads' payments receive a haircut instead of going to the SIP; a small portion goes directly to the Miners.
SPEAK is mined until the hard cap is reached. The distribution rate of SPEAK will be on the longer side, details included in the white paper. An extended distribution initially of SPEAK allows the SIP to accumulate payments and fees over the years, so when we reach the SPEAK cap, the SIP will be adequately funded and ready to handle stabilizing the network.
The Proposal System
The proposal system will be a stake weighted similar to the HIVE DAO. The difference is, anyone, can put out a task; once voted past the return proposal, it is eligible for funding. Once qualified for funding, people can bid on the task in a reverse auction, competing. After a certain period, the community can vote up the bids to compete vs. another return proposal. Once the bid with the most votes behind it and is above the return proposal for some time will win the task. Once won, the winning bidder can now start to submit work to complete milestones. Once the bidder thinks they have finished a milestone, they will present their work to the community for inspection.
The community will vote on if the work qualifies to get the milestone payment. It will be a yes-no vote with a time window for the answer to be picked. For instance, yes would have to be higher than no for some time before the milestone's funds would be released—more info on the Speak proposal system in the whitepaper.
Whitepaper coming soon
Got questions? Please ask below!
You guys are doing some amazing stuff.
I personally would use Service Optimization Nodes, SONS to avoid any negative connotations.
Thank you, and good sugestion. Noted.
how 'bout Decentralized Access Nodes (DANs)? j/k
This was a fantastic read but I must confess I grasped probably a third of it. I will have to read again and watch some explainer videos from people much knowledgeable than myself.
I have so many questions but the main one is probably around mining. Where do you have the most value, staking LARYNX or operating an IPFS node? Additionally, I wonder if there is virtual machine service that can help with that rather than having to set up a computer at home.
You need at least one LARYNX miner stakes to mine. Rewards are dependent on the number of miners staked + the amount of resources offered. You can use any type of storage/bandwidth you have access to, be it your home computer or otherwise.
Thanks for the clarification, Dan. I wonder if you have plans of doing an AMA soon? Probably in the new year which would be a good way to spread the word and also allow people like myself to ask questions and basically get familiar with everything that is coming.
That is a good idea, I can do one early next year. Happy holidays!
Merry Christmas. I will look out for the announcement.
Posted using Dapplr
This is way too complex imo. Now youre adding 3 more tokens on top of HP, HIVE and HBD.
You guys dont feel thats excessive?
You should have gone the DEFI yield farm route and simply had 1 token be the miner, the governance token and the reward.
It can be done.
I mean even Dtube did it and all it took is some adjustment to the tokenomics.
This has a convoluted feeling and you should have really streamlined it with yield farming (once you make Wspeak it would be a nice fit) which this does look extremely similar to in result but not in presentation.
I like the fact that youre airdropping based on Hive balance and not HP. That could help the price movement of HIVE before the snapshot and makes sure we get some new blood.
I still think you guys have made this unnecessarily convoluted.
There is a very good reason for three tokens, and not one. Trying to cram everything into one token for ease of use puts a ceiling of innovation and positive economic tokenomics. Read the comment on this thread I left to marki99 who asked the same question, and I also touch on it about 5min + in my video today.
From what I grasp, this is a really brilliant design. I'm still a little confused though, to mine speak we need both 1 larynx tokens and 2 to watch videos to help host them?
Also none of these will be rewarded to people posting on 3speak, correct? Only hive will be rewarded for content creation, yes?
Content creators or any user with one LARYNX miner token that provides resources to the network can mine. Meaning you will need to do PoA mining + provide storage to be a storage provider. For bandwidth you do not need to do PoA mining, you just provide resources that are paid on a use basis. For content creators who do not prodive resources there will be Hive upvotes + a SPEAK PoB token that will be given freely to SPEAK holders, but that has yet to be announced, no more details on that at this time.
The world needs a genuinely decentralized video hosting platform. Mining through the provision of IPFS resources coupled with advertising sales creates a fair easily scalable system.
My only wish is that the three tokens could be Hive's SMTs ;-)
Which blockchain (or a centralized service) you are planning to use for hosting these tokens?
The tokens will be built on decentralized technology. What we need as per the PoA mining and the SCL will need smart contracts which we are going to build on Hive. We, as in the Hive community as many are building a decentralized sidechain solution. Blocktrades is our first choice and we are eagerly awaiting his testnet after the holidays, however there are several others working on a solution, including us.
3Speak tokens have unique rules and require smart contracts. And the fastest and most scalable way to launch smart contracts is on the second layer.
But what's the plan for achieving true decentralization on the second layer?
Why use broca and not speak directly to pay for uploading? The tokenomics are complicated but I think it would work out without it?
Is it just to separate governance from gas?
Something else that bugs me, why do miners need to pay/stake in order to mine? It is good for the network to have more miners and in the end they must be profiting from mining (or they won't mine), so why not remove the miner token and simply pay tokens directly to miners who don't need to stake anything.
You could have one token, SPEAK, used for governance, voting, paying fees when uploading, paying the SIP (aka the miners).
Separating the token will simply create less liquidity, because it will be divided.
With one token, all you need to do is have a HIVE/SPEAK pair accruing fees.
We didn't combine the governance token with the gas token because of a few reasons. When you combine a gas/RC token with a governance token, it needs to have inflation. You can't (or rather very difficult/inefficient) to have a capped gas token, as you don't want the value to skyrocket, and you want it widely spread so users can use the platform. We wanted to try out a capped governance token. I want to know exactly how much of the network governance I own without ever being diluted. So we separated the gas token from the governance token.
Also, Hive got it right when RCs, it is "free" to use the network, or at least it feels free because you got the RCs for free by staking your HIVE. We wanted the uploads to feel free, so BROCA is in the spirit of RCs. I think BROCA can be fungible; as RCs deal in text, BROCA deals in images and videos, which can be slightly more expensive and have a monetary value. If anything, we want BROCA to be a low, stable price.
The reason for Miner tokens is a view of things. The LARYNX Miner is mining SPEAK, which is a capped governance token. Without the MINER token, anyone can mine the network; this leaves it vulnerable to a money attack—someone coming in with mass resources and trying to nearly 51% attack the network. With Bitcoin, you need to buy hardware, so there is a cost to attacking the network, as you purchase Asics in bulk to mine crypto. However, the Speak Network deals with harddrive and bandwidth, two things readily available on the web two used by various other things. Meaning, a centralized Youtube, for example, can point their exact resources at the network without having to "buy-in" - the Miner Tokens prevent this type of money attack to a large extent.
That is why distribution is essential. To try and 51% attack the network to gain an edge on gaining governance tokens, you'll also need to buy a ton of LARYNX miner tokens, which enriches the web and will not be an easy thing to do, as the more you buy, the higher the price goes. So it is a defense on the governance.
Also, it is a bullish sink for the tokens. Future LARYNX Miners will suck up a lot of SPEAK/HIVE/BROCA. A game theory in tokenomics that ensures the governance token remains scarce is capped and continually locked up.
Thanks for taking the time to explain, you made great points. This was really thought out.
in "store as many blocks" you mean store as many videos? so that will be the incentive for people to store as much as they can?
Correct. Blocks will include CIDs, which are video hashes. "Blocks" will be a block of videos/images ready to be downloaded into the network. The Speak network will only store videos and images, but of course, it is capable of more. I'm more concerned with making sure the videos and images are stored and keeping the network as lean as possible in that respect.
Also, a cool thing is a block that no one or few people download; if that block is called a recall block, the miners who have that recall block will earn a much larger reward because they will share it with fewer people. So the system self balances to find videos/images that no one has downloaded a lot to ensure permanence.
i was thinking before this post how you will ensure that a big number of videos are stored, because of that option to chose what you want to store. And i like this option, to have a choice what to store and also to have an incentive to store as much as possible.
I am still lost about all the tokenomics but that is what i expected. i am not enough into that to understand it at first look, or even second or third :D
Haha, I'm here if you have more questions. We believe this way will ensure the maximum amount of videos/images stored for the longest time in the most flexible way possible, and that was our goal all along.
I can imagine Endgame will be server renting or I'm wrong? Because price/power should be always better as a home computer?
It is random, every miner with at least one recall block has a chance to earn rewards the same as everyone else, assuming they have a good enough internet connection to download at least part of the block in time.
Ok cool,
Is there the whitepaper already? Because now I have more questions :)
Is this abuse safe? if someone split a server into different Wallets for more tickets to provide the minimum needed, for block rewards?
Or is there a rewards mechanic to rent a big boy to give many resources to the network for rewards?
Random eh? As far as I know the only way to create random number lotteries in crypto is via POW mining. I guess I should do more research on node consensus via POS networks. Looking forward to the whitepaper.
If I am not mistaken, I believe there is a 1:1 claim drop rate.
Is this based upon HIVE or HP?
1 : 1 - Both Hive and HP are eligible.
Any date for a snapshot? Because I think many Hive users have also funds on exchanges for example or want to buy more before the snapshot date :)
Nothing in stone yet but we are looking at 3-6months +, depending on the situation. We will be sure to give everyone a 3-month heads up at the least.
Do you consider doing a drop onto exchanges as well and them organizing around the snapshot onto individual accounts or only onchain?
Exchange drop look beating the purpose for Hive Bullishness, When @theycallmedan do not want to airdrop miners to idle user, dropping to exchange user is bit far fetched.
But it good question and I hope Dan is not dropping to exchange.
Any account with HIVE at the snapshot and claims is eligible.
so who gets the SS, people with hive power? liquid hive on hive or anyone with hive even on an exchange? I think it would be cool if it was just HP. Loyalty rewards plus its the best for everyone long term.
perfect.
I can imagine it can be a really big thing in crypto ( and for hive for sure) :)
Thats a very smart move.
I think it's defined as an airdrop for HP only. I think removing liquid Hive from the airdrop will be better.
Is delegated HP to other accounts excluded from the claim drop?
thanks, I didn't understand
Love that 'Proof of Access' concept. Really clever, and incredibly simple.
Thank you, amazing and thankful you are in this community. This get's me more and more excited for the future.
This sounds groundbreaking!!!
Posted using Dapplr
I'm really looking forward to this and hoping I can power up some Hive before the airdrop. Some really innovative ideas all in all, might be a bit complex at first glance but hopefully the desktop version will make it easy so that anyone can use their hardware and stake to utilize this fully and help web3.0! Great job all in all!
No need to power up apparently.
Thanks acid!
Wow . I will have to dig into this again a few times . But amazing to see the architecture come togeather . I have always loved the scale of your decentralising vision. Hopefully this helps bring the reality that much closer .
Pretty awesome here. So much to unpack but I’ll delve into it when I’m not as tired lol. Loving the ability to mine and help keep things going!
hope to see you out there mining! :)
Now the question is, how will internet speed affect this. for example i decide to throw 1-2GB of my HDD on my pc (that is something i would be willing to do) but my up speed is at best 0.7 Mb/s (because Serbia and providers don't care about places where 5000 people live, but the + side is unlimited transfer).
So will there be any sense of trying to do this on an home PC with not that great internet. or will it just be a waste of electricity?
To be a miner, you will need a relatively decent computer; you won't need to download a whole block; you can be individual. But since you'll be downloading videos/images, you'll need at least a basic computer with at least a 3-5MB connection. To provide bandwidth, it'll just take what you have to offer and compensate you accordingly.
dont understand it yet, gotta reread but looks cool!
I don't understand most of it, but at first sight you can see a great and innovative work. What I understand is that any mortal (under HP) can collaborate in the mining and storage of information. It's really motivating, I'm willing to do my part.
This sounds very interesting 😁
Congratulations @theycallmedan! You have completed the following achievement on the Hive blockchain and have been rewarded with new badge(s) :
You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word
STOP$tangent
Congratulations, @asimo You Successfully Trended The Post Shared By @theycallmedan.
You Utilized 2/3 Daily Summon Bot Calls.
TAN Current Market Price : 1.940 HIVE
How you will consider HP balance?
I think you will considered Powerup HP on an account without considering in and out delegatons.
would be a nice shout to give a bigger airdrop to staked HP. This is after all what we want people to do.
I had to read this three times in a row, nice tokenomics boyzzzzz!
Read it twice, gotta do another one soon lol
haha I feel ya.
Really good information. I liked the claim airdrop strategy. Is there any time slot that a user can claim tokens?
@theycallmedan, This Roadmap sounds like Picturing the Face of Web 3.0. Good wishes from my side and stay blessed always.
You lost me in the talk at Hive Fest, but this actually makes complete sense now it's written down, I think something things are just easier to understand in writing!
It does all sound complex yet there'a a lot of excellent features in there too.
I really like the active claim for the air drop.
I'm expecting the answer to be no here, but will your desktop app work with my MacBook Air? It's the only hardware I've got ATM.
Although maybe by Q2 Britain will be fit enough for me to return to pick up my desktop, and I guess people will set up mining pools anyway.
Great job!
So it's fully operational by the end of 2021, that's a busy year you've got ahead!
Yes, it should be available on MacBooks.
Ah OK great news!
Yes it will definitely be available on MacBooks. However, we have not extensively tested the app on mac OSX. There may be untended bugs that we will have to work out in future updates. More information will be available in time.
something that I have been thinking about lately with all the decentralization and censorship resistance talk: will it be possible to permanently delete a video again? (at least make such a request). I think this is a really important point as not everyone wants their videos 4ever.
Aside from Dan's respond about deleting it from the storage incentivization layer. There will also be functionality to delete your video from the indexing network. We will be releasing a non-blockchain account system in future versions of the app, which will also allow you to delete your account or videos at your choosing.
great to hear! thanks for the respond
When you post an image or video, the option to set it to expire will be there. Once expired, the network will no longer incentivize the download of that file and delete it over time. There is no off switch, the front ends can not display it, but the best thing we can do is disincentivize the file's storage.
I see, thanks for explaining. I think this feature might be worth pondering about a bit more as I am pretty sure that this would be an issue for many users. E.g., having an option to set it to expire after the upload would be nice. etc. I think you also once mentioned the problem of copyright infringement as well.
You will be able to communicate to the network that you no longer want the file stored permanently. Since the files are stored on IPFS, they can be deleted without a hardfork, so it's rival to remove files once they have been disincentivized. Also, frontends can always remove videos as well, sorta like how it works on Hive.
It sounds so exciting, and I hope you are able to simplify the whole thing, especially the tokenomics, as I think it will be a huge impediment to the uptake on this.
Why do you think having three tokens is necessary rather than a single token that can perform a function, and perform more functions if it is staked?
What about the earlier 3Speak tokens that were bought? Can you please share some context around it. Cheers
Those were a stable tipping point for creators inside of 3speak that can be redeemed for what you paid if you still have them.
thank you dear @theycallmedan for replying. Actually, I had bought quite a many of 3Speak tokens from the 3Speak websites to support it from my account @healthdear. Can you please tell me how can I get them redeemed? Appreciate all your efforts and what you have been doing for the HIVE & #Speak platform. Looking forward to your response. Best Regards
Yes please reach out in the 3speak discord, thanks.
Great development and a boost for the ecosystem and hive.
Got to read this more to swallow the information at stake.
I was thinking 3speak would be a platform that takes off in the future, but now I'm not sure. I won't even bother to figure any of this out...and neither will the masses.
While I do like the decentralized storage feature added here, the rest requires too many hoops to jump through for basic use and receiving a benefit from that use.
huh
Ideally most users do not need to pay attention to the fine details. There will also be specialized system for non blockchain guest accounts that will make onboarding new users significantly easier without the use of a centralized authority.
imo: some simplification should be done, but that will happen as the project evolves and further develops. The most important pieces of this project isn't layed out here, of which will be the first to be implemented.
This sounds amazing. The key will be making people aware as possible about what will be possible.
Nice :)
This is fantastic I am very interested in staking LARYNX as well as integrating this speak network layer with my website.
I didn't understand much, but it looks like we are facing a new financial system. I will try to understand better in the coming days.
Super excited to be reading this.
Don’t have any questions at the moment.
Eagerly waiting
This one is not for me don't even k ow what's going on
Ho Ho Ho! @theycallmedan, one of your Hive friends wishes you a Merry Christmas and asked me to give you a new badge!
HiveBuzz wish you a Merry Christmas!
May you have good health, abundance and everlasting joy in your life.
To find out who wanted you to receive this special gift, click here!
You can view your badges on your board and compare yourself to others in the Ranking
Do not miss the last post from @hivebuzz:
Congratulations @theycallmedan, You Earned 0.546 TAN & Curators Made 0.382 TAN.
Join CORE / VAULT Token Discord Channel or Trade TANGENT Token
TAN Current Market Price : 1.940 HIVE
This is simply out of this world the way I see it!
and having the growth of HIVE in mind on this project creates a win win for all.
Thanks Dan and the team behind this!
How does this solve for illegal content?
Are files encrypted and sharded or stored un-encrypted and whole by the client (node)?
What's the incentive to invest in a diminishing asset (larynx)?
So with the "whole network" of files being "recall blocks" based on saved media, what about those that prioritize "heavily downloaded" content (and more bandwidth, vs storage space)?
What's the algorithm on deciding a recall block? Will it learn heavier towards more recent and higher viewed videos or will it include all the shit literally noone watches or upvotes?
Who decides what this SIP account upvotes? Because that's a LOT of potential value....
I had more thoughts rattling around my head, but I'm on my phone and wasn't taking notes while reading.
Looking forward to the white paper. Keep kicking ass.
Bonus question: can we pay like 2 hive a month to block ads? Because paying $17/ month for no ads on youtube is gold.... And ads are keeping me away from 3speak 100% right now. I don't do ads.... They drive me away faster than anything. (Which is why my 3speak usage is like.... Zero)
Files are not going to be encrypted as a decryption key will have to be supplied. This defeats the point of encryption. All data on the chain is public afterall. Blocklists can be established between service nodes and users to prevent illegal content unaccepted by the network. Service nodes can also have their own internal blocklist for storage. Blocklisting can be done by IPFS hash and/or permlink or account name. Users can also opt out of storing content they don't want to.
Most likely it will be selected completely randomly. There will be additional incentive for videos that are not well backed up. Views/number of plays/upvotes have no relevancy in storage, especially when considering the storage system is most needed for archival of older videos.
ELI5 what that entails beyond simply staking LARYNX.
Miners need to have token to participate in providing services to the network and be rewarded in doing so. People can still provide their services to the network, but they have to hold token to be rewarded.
But what exactly is meant by services and resources?
Services would be like providing an API endpoint, encoding functionality, or an IPFS gateway to a name a few. Resources are the measurement of thereof. If node operators (miners) provides 1tb of storage, or spent processing time encoding for a video, that is considered a measurable resource.
thanks
Thanks friend!
Wow, it has taken some time before you presented this overview, but I now fully understand why. This will launch 3speak into the future, fully ready for Web 3.0!
Because the website is down, due to the certificate being invalid, I am looking for a guide on how to either run a node and/or frontend myself, but it is not easy, I have no idea how to upload to 3speak without the main website. It needs more decentralization.
If I'm leasing my HIVE (via D-Lease) at the time of the snapshot will I still get the 1:1 rewards for the total amount of staked HIVE?