Classy Coin is a high value, peer to peer decentralized digital currency that is based on the ERC20 token and depolyed on the Ethereum blockchain. It is a cryptocurrency of the same nature as Bitcoin and Ethereum. But with a much bigger aim to specifically serve and help the Social Networking History.
The coin intended to be used within Classy Network to buy ad spaces. Pay for goods and services and give tips to friends and families across the Classy Network. At Classy Network, we believe in supporting community building and social interaction with cryptocurrency rewards. For inspiring participation in the community, ClassyCoin would be presenting the users with a currency or a free market economy. Economy that is a fair accounting system, and consistency reflects each person’s contribution. ClassyCoin aims to accurately and transparently reward an unbounded number of individuals who make subjective contributions to its community.
Social media have become ubiquitous and are playing an increasingly critical role in society. The wide use of social media platforms has generated massive user generated contents (UGCs). Research reveals that there are 2.5 billions active users of social networking sites. Users who collectively generate content having worth more than billions of dollars’. The combined worth for the shareholders of social media companies such as Reddit, Facebook and Twitter is more than 650 Billion USD, with the irony that the actual contributor i.e. and users getting no share of it.
In 2014, an idea was presented by Reddit, suggesting that its platform would be improved if everyone who contributed to reddit.com by posting stories, adding comments or voting were rewarded with a fair share in Reddit, Inc. ClassyCoin created with the similar frame of mind to be supporting social media and online communities by returning much of its value to the people who provide valuable contributions by rewarding them with cryptocurrency, and through this process create a currency that is able to reach a broad market, including people who have yet to participate in any cryptocurrency economy.
Problem with the traditional social network
One of the main problems with traditional social networks is the dominance and monopoly of their centralized authorities and the violations of their user data. Besides, the main reward for all of the content whether users owned or social networking sites owned; goes to the social networks, leaving the original content creator to go without any credit or reward. The monopoly of these social networking sites and the sales of user data for commercial purposes needs to be ended, and to do so, we have introduced the centralized technology based Classy Network having implemented a modern Social network that supports rewards in ClassyCoin.
We are taking appropriate steps to give people a real alternative. Also choice to connect with their loved ones and be in full control of their data. Considering that, we have taken a revolutionary step of creating a blockchain-based social networking platform called Classy Network.
Introduction to classy social network
Imagine a fully decentralized social network, where all the data and content stored on the blockchain instead of centralized servers, and all the power lies with the users; not some individuals nerd or company. Classy Network is one such step in the direction to get the users a platform that is not only powered by them but actually owned by them. It is the new generation of decentralized social networking platform. Platform which is based on the ethereum blockchain for global connectivity and community building.
Classy Network integrates peer-to-peer payment system and end-to-end fully encrypted features with no possibility of third-party control of the data and zero possibility of downtime. Being an on-chain platform (Blockchain based), all of the user content would be lying on the blockchain instead of centralized servers. The platform allows you to communicate with friends and family in multiple unique ways while providing state-of-the-art security and privacy.
Classy network backed by ClassyCoin a cryptocurrency designed buying goods and services. Purchase ad spaces from the integrated ad platform, donating to crowdfunding campaigns. Also giving tips to friends and families across the network.
Here is a brief description of the features that would be integrated into the Classy Network. Also would change your perception of what can be achieved through social media networks.