Topic: [Ann]YOYOW-You Own Your Own Words-A media content producing and sharing platform - page 8. (Read 16743 times)

Virtual Proof of Work (VPoW)
PoW is recognized as the most fair distribution scheme, but it has several defects:
1\ The entry level participation has already been too high for common users, in either technical or financial aspect, whereas huge miners occupy most of the profit and control the whole network.
2\ Secret mining at very early stage when common users are still struggling to run the script can not be avoided, in this case, PoW is the most unfair distribution scheme.
3\ Waste of resource, not environment friendly.  
Besides, one phenomenon we have observed in all the past ICOs is that the fund raised through ICO doesn’t depend on the product itself, instead, it depends more on the advertising campaign. Thus, the quality of product is not the highest priority to developers anymore  
To avoid this, we have designed a new mechanism---VPoW. The concept of this mechanism is: a certain amount of tokens are created everyday in a curve that calculated from some specific algorithm. All of these tokens will be distributed to investors according to the proportion of shareholding. However, to get these tokens, investors need to send a certain amount of fund to a designated account which belongs to the developers’ team. The newly created tokens will be released linearly.
The advantages of VPoW compared with PoW and PoS are:
1\ More fair opportunity for new comers of the community, thus less worries about selling pressure from early participants in the mode of PoS.    
2\ Better way to raise fund for sustainable development, and the newly raised fund can be dynamically balanced depending on the acceptance of the product.
3\ Lower selling pressure from content producers and curators; a healthy way to keep the system running smoothly.