NewsBTC articles are now available for reading and discussion on Commun, a newly-launched blockchain-based social network. Those joining the NewsBTC community among three others are granted the starting amount of the community’s internal token on registering on the platform.
Commun, a Reddit-like network which launched its mainnet at the end of 2019, serves as a web, Android, and iOS portal where users can form interest-based groups to share, read, watch, rank, and discuss content with like-minded people. The platform, comprised of decentralised autonomous communities (DACs), is the first Web-3 social network to launch since interest in the technology was shown following an outcry over censorship, de-platforming, and data-selling by social media giants.
Built as a “decentralized and tokenized Reddit”, the platform provides a means for content creators and curators to monetize their work, and eliminate the constant threat of de-platforming. To incentivise content making and voting, it incorporates a tokenized reward system. This is exactly what is available to the NewsBTC community members, as it is for other communities.
Upon registration, you can rate and comment on posts. For likes and comments on those posts that make it into a daily “Top 10”, you receive an algorithmically calculated and assigned award in points – the community tokens. Points are exchangeable for the Commun token, as well as for another community’s ones, or can be stored on your account. In the latter case, you can “invest” in a post by any author, rewarding them with an upvote, as it happens on Steemit. If the post gains value and earns ad revenue, you get a proportionate share of the reward.
As a decentralized network built atop a blockchain layer, Commun places control firmly in the hands of its users, so its architects do not have the means to censor content or freeze funds. It also provides web users with a place where they can interact with individuals who share the same interests, and to have a say in dictating the way their community is run.
“The platform provides a way for creators to control their career, own their content and identity, interact with their fans and directly monetize without reliance on third-party processors and threat to be de-platformed,” Commun CEO Marina Guryeva says.
Registered on the platform, the users can create their own communities, post whatever they like and monetise their activities. By joining the first three communities, a new member receives 10 internal tokens of each of them. The same is valid for the NewsBTC community members, where they can now rank and earn on the most relevant content for the blockchain community.