Pollchain White Paper
Summary
Knowledge sharing SNS based on real-time voting
Blockchain-based protocol economy
Background
The background of the birth of Pollchain
Discovering the potential value of collective intelligence and voting
The need for SNS that combines content creation, advertisement, and rewards
Pollchain ecosystem and rewards
Ecosystem
Major participants in the ecosystem
Voting proponent
Voting Participants
Advertisers and viral marketers
Reward
POLL compensation system
Voting rewards
Voting Proposer Reward
Voting Participant Reward
Advertising rewards
3.4. Personalized advertising
3.4.1. User propensity analysis
3.4.2. Use of customized advertising
3.5. Proof of Poll mining
3.6. User Scenario
3.6.1. User Voting Participation Scenario
3.6.2. User Voting Proposal Scenario
4. Reasons for Pollchain's Blockchain Adoption
4.1. Blockchain and POLL economy
4.2. Reasons for Pollchain's Blockchain Adoption
4.2.1. Transparency of voting participation and reward transactions
4.2.2. Ongoing fulfillment of the promise to the reward algorithm
4.2.3. Participation in voting and
4.2.4. Granting global value of rewards, expanding digital governance
5. Schedule
6. POLL Economics
6.1. POLL issuance plan
6.2. Fund operation plan
7. Team members
8. Disclaimer
1. Summary
1.1. Knowledge sharing SNS based on real-time voting
Pollchain is a knowledge sharing SNS that allows you to ask and answer various types of information and concerns such as daily life, social issues, business, and investment information through a method called ‘voting.’
Voting proponents propose voting topics through the poll chain voting system. In a short time, you can comprehensively refer to the opinions of various people to solve problems or get help in decision making. Voting participants participate in anonymous voting, so they can express their opinions and earn rewards without any doubt about personal disclosure.
PollChain rewards PollChain's cryptocurrency (POLL) to both voting proponents and voting participants. Value is added to knowledge sharing, which is still provided free of charge. This direction is the best way to implement the protocol economy, the trend of a new era.
1.2. Blockchain-based protocol economy
Pollchain introduced a'protocol economy model' in which service users directly propose and participate in voting and share rewards. All users of Pollchain, including the Pollchain team, create and consume content by voting. Economical values such as big data accumulated in the pole chain, user analysis indicators, and ad orders are created jointly by users. Therefore, you can share the rewards fairly.
*What is a protocol economy?
Protocol economy refers to an open economy that creates and operates certain rules (protocols) mutually agreed upon for transactions among market participants such as companies, individuals, and governments. In the existing centralized platform economy, the rights of participants were limited due to the operator's sole determination of fees and information asymmetry, and the operator monopolized the profits resulting from the increase in the value of the ecosystem. The protocol economy protects and expands the rights of participants. We aim to become a collaborative ecosystem that shares profits for increasing value.
NEWS1, https://www.news1.kr/articles/?4132566
2. Background
2.1. The background of the birth of Pole Chain
We have to make countless choices and decisions every moment in our daily life, and this can be a great stress. Making small but small decisions consumes a lot of energy. 'What should I eat for lunch today? Is it jajangmyeon? Is it Jjambbong?' It's a trivial, but I'm worried. As the world develops and becomes more complex, these worries become more and more complex. Small concerns can be easily decided, but there are many moments where you have to make really big decisions. Important moments of decisions that have a big impact on your life, going to school, getting a job, dating, getting married, whether you should buy real estate or bitcoin right now is a headache just thinking about it. Obviously, you have to be cautious in the face of important decisions, but no decision can be perfect. When we make a decision, we must use our knowledge, information, experience, and surrounding infrastructure to make a decision. Although it may not be the best option, it is the best option.
Pollchain refers to various opinions and shares knowledge of various people through voting, a representative solution of collective intelligence, for matters that people have to decide from trivial anxieties to critical decisions, sharing knowledge that can help them make the best choice. It was born to make SNS.
2.2. Discovering collective intelligence and the potential value of voting
When independent thoughts and opinions, freely expressed by ordinary people of varying values and knowledge, are integrated in a rational and common-sense manner, they can create meaningful assets and values. This is called “collective intelligence,” and the representative consensus method of collective intelligence is voting.
Voting is a traditional method of consensus that anyone, regardless of gender, region, age or age, has experienced at least once. Voting is generally the most widely used method of deriving a solution to a political, cultural and economic problem. The vast majority of people are used to voting and have higher confidence in the results compared to other consensus methods.
Pollchain users will experience voting content that combines Blockchain and anonymity. By expressing and sharing your concerns through voting, the Pollchain service will evolve into a new form and culture-leading SNS.
2.3. The need for SNS that combines content creation, advertisement, and rewards
The contents of PollChain are provided in the form of a combination of voting and advertisements. As soon as they participate in voting, they consume advertisements, and users can earn a POLL as a reward for this. POLLs obtained by participating in voting can be used to purchase products or withdrawn from affiliated shopping malls.
Blockchain-based voting data and user participation collected through user participation provide confidence in the progress of advertisement exposure, which can further increase the transparency of advertisement execution. Advertising exposure increases as more users create and consume voting content. As the advertising effect increases, the value of Pollchain increases, and we expect a virtuous cycle in which more users are secured.
3. Pollchain ecosystem and rewards
3.1. Ecosystem
PollChain expands the ecosystem through the production and consumption of voting content among various users such as voting proponents, voting participants, advertisers, and viral marketers.
In the Pollchain ecosystem, it is operated based on a reliable Blockchain network. Advertisements are executed without intermediaries and are operated in a protocol economy method where users share the rewards for them.
Data obtained through voting participation can be collected and processed using big data and machine learning technology, and then provided as user analysis indicators to specific industries. The user-based trusted user analysis index will help to increase the value of the Pollchain ecosystem, thereby securing more users and creating a virtuous cycle ecosystem that can continuously produce trust-based data.
<Example of user analysis index>
-Provide investment sentiment indicators related to investment in stocks, digital assets, and real estate by collecting and processing voting data related to investment information (Fear and Greed Index)
Image source: https://money.cnn.com/data/fear-and-greed/
-Provides brand loyalty and brand preference indicators by collecting and processing voting data related to meal menu selection, etc.
Image Source: http://www.realmeter.net/Chicken-Brand-Preference-Gyochon Chicken-Solo-Sk-2nd-Competition-Fire/
-Policy opinion survey
Image Source: http://www.realmeter.net/Corona 19-Vaccination-Vaccination-Points-People=Half-Emergency-Priority/
3.2. Major participants in the ecosystem
3.2.1. Voting proponent
Voting proponents are individuals, organizations, or organizations that have proposed voting through the Poll Chain. Voting offer content may be provided directly by voting proponents to voting participants or distributed by service providers.
After joining the poll chain, the voting proposer can easily propose a vote within the poll chain and deliver it to the poll chain users. Voting proponents can propose group voting by specifying a group of users who wish to vote, and they can set open voting in a specific category so that anyone can participate in voting.
For example, if an office worker is worried about choosing a lunch menu, set up an open voting. You can propose to vote for the choice of jajangmyeon and champon menu to an anonymous majority. Voting proponents will receive a POLL as a reward for voting participants to participate in the voting. If you get'Like' for the novelty and usefulness of the content from the voters, you can get additional rewards for this. You can also raise your vote participation rate by placing your POLL as a bounty.
3.2.2. Voting Participants
Voting participants can participate in voting by selecting an open voting in a desired category after joining a PollChain member, or selecting a group voting delivered to a voting proposer who is accepted as a friend. Voting participants can get POLL rewards simply by simply participating in voting in the form of a combination of voting and advertising. If the voting proposer has placed a bounty, he or she will receive more rewards if it is included in the voting proposer's final selection.
In addition, voting participants can get more rewards according to the advertiser's bounty policy when participating in event voting for a specific purpose (brand preference survey, policy poll, etc.) proposed by the advertiser or institution. For example, if the majority of respondents are included in the selected view, they will be rewarded with more POLLs, participate in a vote that includes admission fees, and if they are included in the final selection of the advertiser, the admission fee of the group not included in the final selection, etc. You can get additional rewards.
3.2.3. Advertisers and viral marketers
If you sign up as a Pollchain member, anyone can display advertisements in various ways on the Pollchain service.
Advertisers can access the advertisement registration system and register content in the form of a banner or video, and then directly set and register the advertisement target, cost, and time. You can also directly obtain the data you want through voting campaigns or other viral marketing. If an advertiser wants to show an advertisement, he or she can obtain a POLL corresponding to the advertising cost and use the POLL as an advertising cost. In addition, you can directly sponsor votes in categories related to advertisers to increase advertising effectiveness and contribute to the completion of the ecosystem based on the Pollchain Protocol economy.
3.3. Reward
3.3.1. POLL compensation system
Pollchain users can be largely divided into voting proposers and voting participants. All rewards obtained from user activities (voting proposal, voting participation) on the Pollchain service are accumulated as POLL within the service. If you have acquired more than a certain POLL (eg 1,000 POLL), you can purchase products from affiliates or withdraw money outside.
This process applies equally to all users who use the service by smart contracts on the Blockchain. Users can decide whether to withdraw the POLL or purchase products at the shopping mall. Users can also act as voting proposers and voting participants at the same time. When you propose a vote and show an advertisement, you can get the reward POLL assigned to each vote by dividing it according to your role.
3.3.2. Voting rewards
3.3.2.1. Voting Proposer Reward
In the poll chain service, when other users participate in the vote proposed by the voting proponent, the voting proponent gets a certain reward. As the number of voters increases, you can get more rewards in proportion to that number. The more ‘likes’ a proposed vote gets from voters, the more rewards you will get.
3.3.2.2. Voting Participant Reward
Voting participants are rewarded for voting. The rewards allocated to each vote may vary depending on the type, timing, and type of advertisement, and when participating in a vote, it will be announced so that you can know how many reward POLLs the vote is.
3.3.2.3. Advertising rewards
Pollchain users can receive additional advertising rewards by interacting with advertisers. For example, in the case of a vote that is preferred by a specific advertiser, the advertiser can provide additional rewards to the voting proponents and voting participants by providing a POLL in the form of a donation to the voting.
Even if advertisers and viral marketers directly offer to vote for an event, those voting participants can earn additional rewards set by the advertiser.
3.4. Personalized advertising
3.4.1. User propensity analysis
When Pollchain users sign up as a member, the minimum information (gender, age group) is collected to analyze user analysis index creation and disposition. In addition, the user's disposition is analyzed by accumulating data such as user's voting results, preferred voting category, and access time. Based on the analyzed data, we provide precise customized advertisements to advertisers.
3.4.2. Use of customized advertising
Pollchain provides accurate customized advertisements to advertisers based on user preference analysis data.
For example, users who are interested in investment will prefer voting that is highly relevant to ‘investment,’ and the advertising effect will be maximized by exposing advertisements that provide investment-related products to such users. Voting is easy to use for customized advertising by analyzing user preferences and providing them to advertisers because the characteristics of each theme are clear.
3.5. Proof of Poll mining
The POLL obtained by participating in voting through the PollChain ecosystem is given as a reward to users of the PollChain service. The Pollchain team calls this ‘Proof of Vote (PoP) mining’. The Proof-of-Work (PoP) method is similar to the Proof-of-Work (PoW) mining method, where a block is rewarded for finding a hash value. However, PoP mining while participating in voting is economical and eco-friendly compared to the existing PoW method. In addition, it is more consistent with the intrinsic purpose of the Blockchain, ‘sharing data transparently to participants and verifying it through a consensus method.’
If the public awareness of the Blockchain is shifted to a more productive and democratic direction through the PoP method, it is expected that the protocol economic model combined with the Blockchain can be quickly realized and popularized.
Of the total POLL quantity, 50% of the POLL is regularly deposited in the PoP mining reward POOL to be given as rewards for users' voting proposals and participation. The number of POLLs deposited in the PoP Mining Reward POOL decreases as the number of users increases. This prevents centralization and increases the value of the Pollchain ecosystem. The value of POLL provided as a reward to users can change flexibly as the number of users increases and the progress of popularization.
3.6. User Scenario
3.6.1. User Voting Participation Scenario
Voting is conducted with targeted ads optimized for each user. You can earn a POLL when you participate in voting.
3.6.2. User Voting Proposal Scenario
Users can directly propose to vote and register them in specific categories.
4. Reasons for Pollchain's Blockchain Adoption
4.1. Blockchain and POLL economy
Blockchain is a completely different way of managing everything and exercising rights by a specific person or group, which is a characteristic of the centralized system we are accustomed to. In other words, it can be said that'democraticism' is implemented as a system.
The POLL is open to anyone and is characterized by joint management by all those participating in the new ecosystem.
In the case of POLL, even if there is an issuer, it must exist as a player in the ecosystem. Therefore, it is not advisable to have the authority to control the POLL. Therefore, the key points of POLL economic design should be designed by reflecting the basic characteristics of the Blockchain. The value of a POLL fluctuates by the market, and it means that the POLL issuer and user must share the value with equal status.
4.2. Reasons for Pollchain's Blockchain Adoption
4.2.1. Transparency of voting participation and reward transactions
The record of voting participation and the delivery path of the POLL are transparently recorded on the Blockchain. This can be viewed by anyone at any time, so transparent transactions can be guaranteed.
4.2.2. Ongoing fulfillment of the promise to the reward algorithm
The reward algorithm is designed and executed based on the decentralization of the Blockchain, programmed to be executed, or recorded in a smart contract and executed. The Pollchain ecosystem is operated by the recorded contents of smart contracts. In the case of need to modify the smart contract for the development of the ecosystem, change the chain, or develop the mainnet, it can be proceeded only by consensus and voting of the participants of the Pollchain ecosystem.
4.2.3. Giving global value of voting participation and rewards, expanding digital governance
PollChain is based on a global service, so users are not limited to a specific country or region. POLLs received as rewards from Pollchain are used in all places supported by Pollchain and are used with the same value. All participants using Pollchain can earn rewards through voting participation, a democratic consensus process, and create global digital governance together.
5. Schedule
6. POLL Economics
6.1. POLL issuance plan
Pollchain aims for a multi-chain method, also known as a multi-blockchain. If Pollchain uses a single public blockchain such as Ethereum, there may be many restrictions in building and expanding the Polchain system. Therefore, Pollchain intends to operate the Dapps developed by Pollchain on independent networks using various public blockchains that support the Solidity language. This multi-chain structure not only greatly increases the scalability of Pollchain, but also allows an infinite number of DApps to operate simultaneously. Therefore, the burden on the main chain is reduced, so there is no transaction overload. The burden of fees due to network congestion is also greatly reduced.
According to this development plan, POLL will issue 5 billion on the Binance Smart Chain(BSC) and 1 billion on the Ethereum chain. The remaining 4 billion unissued will be issued on other chains as needed, but this process will be carried out through community governance. In addition, Pollchain plans to develop a bridge for interchain linkage and swaps and provide it to developers and users.
50% of the issued POLL on BSC will be deposited in the reward pool for PoP mining rewards.
6.2. Fund operation plan
The funds raised through the POLL private investment attraction will be used to develop the POLL chain and build an ecosystem. The funding operation plan is as follows
Research and development
40% of the funds go to research and development expenses. Includes costs for Pollchain server construction, client implementation, app development, Blockchain integration, testing, and security.
Operation
20% of the funds will be used to run the company. Server rental costs, infrastructure construction, labor costs, management costs, rental fees, etc., all necessary for maintaining the company are included.
Marketing and accounting expenses
30% of the funds will be used for marketing expenses required to establish partnerships and attract users.
Information security management
5% of the funds will be used to enhance the stability and security of the Pollchain service.
Legal advice
5% of the funds will be used for legal advice required to run the business.
7. Team Members
8. Disclaimer
This document is provided for informational purposes only and its contents are subject to change. Nothing in this document constitutes legal, financial, commercial, or tax advice. As Pollchain's POLL is not a securities and is not used for financial promotion purposes, nothing in this document is used for inducing investment activities or for invitation purposes. This document does not offer opinions as to whether or not you should purchase Pollchain's POLL and should not be relied upon in any contract or purchase decision. Prior to purchase, participants should take all professional information, including taxes and accounting, and understand their ability to prepare for the risk of volatility in the POLL. Recognizing the inherent risks requires a comprehensive understanding of the current cryptocurrency market. You understand and agree that Pollchain's POLL does not express or implicitly express or guarantee the usability or price, and there is no guarantee or provision that any benefits may be received through the POLL.
We are not responsible for any direct, indirect, consequential or other loss or damage, and all information contained in this document and any current or future announcements about the POLL, regardless of the time of occurrence, are subject to profit or profit in any form. Is not to be construed as a guarantee of. The Pollchain team is not responsible for any damages incurred by any individual or group (agents, users, employees, insurers, lawyers, etc.). Pollchain's POLL should not be acquired for speculation or investment purposes while expecting a return on investment.
Participants in the Pollchain community acknowledge that this document is aware of the risks associated with cryptocurrency, such as large price volatility and the inherent risks of the cryptocurrency market, and that there may be financial losses. We understand and acknowledge that the Pollchain service is currently under development, and that the contents of future documents may be changed from the current plan. The contents of this document and white paper may be changed or updated according to the progress of the PollChain project, and modified and updated versions may be posted before the final version is announced before the public sale date. In addition, we acknowledge that we do not guarantee the operation period of the Pollchain service, and it may be suspended due to various reasons such as lack of awareness of the service and lack of investors, or insufficient funds for service development. I acknowledge that the content of this document should not be arbitrarily interpreted by the participant. As Pollchain's POLL is not intended to constitute securities or other regulated products in any particular country or jurisdiction, this document does not constitute a guide or legal document, and does not provide or solicit securities or regulated products in any country or jurisdiction. . This document has not been reviewed by regulatory authorities in any country or jurisdiction. Additionally, virtual currency may be monitored or overseen by regulatory authorities in various jurisdictions. The PollChain service may receive inquiries, notices, warnings, requests or administrative dispositions from one or more authorities during uncertain times, or may be ordered to suspend or stop actions related to the PollChain POLL. This poses a serious impediment to the future development of Pollchain or the uncertainty that it may end up as a result. No representation or warranty is made as to the accuracy or completeness of any information, representations, opinions or other matters described in this document. No representation or warranty is provided for the construction of any forward-looking or conceptual expressions. Therefore, nothing in this document can be used as a method of guarantee or trust for the future, and to the maximum extent permitted by applicable laws, the person taking action against this white paper or any loss or damage incurred in connection therewith. Will be disclaimed for all responsibility. Participants acknowledge and agree to their responsibility to comply with any laws, rules or regulations applicable to the transaction. The Pollchain POLL acquirer acknowledges and agrees that the Pollchain team is not directly or indirectly liable for any tax obligations incurred upon acquisition. You also agree and acknowledge that applicable laws, regulations, and executive orders may require disclosure of information about the accounts of participants in the Pollchain service at the request of a government agency. Please review the summary content contained in this document by referring to the basic terms and conditions of the agreement set forth in this document.
