In the past decade, social media has grown to become one of the most important aspects of our lives. Social media platforms have grown into tech behemoths, with Facebook, Twitter, Snapchat and Instagram leading the pack. However, the revenue model employed by these platforms has been skewed to favor the conglomerates while the content creators get nothing. WeiBlock is out to change this, rewarding users for their efforts.
Released in August, WeiBlock is a social network that’s built on the Bitcoin SV (BSV) blockchain. Just like other social media platforms, it allows you to create an account from which you can post content, like and comment on other people’s content, follow other users and more.
There’s a significant difference, however. WeiBlock lets you to earn from your content. Whenever you post content that people like or comment on, you get to earn $0.01 in BSV as a reward. Your content is also recorded on the BSV blockchain and stored permanently.
WeiBlock updated! New features: follow, tip, latest posts, hot posts, image wall. The key point is that premium content creators can win more rewards. Bitcoin is a competition system. And WeiBlock is also a competition system. Now the competition has begun. Let's roll! pic.twitter.com/TxRYeU8yjv
— weiblock (@weiblock) October 14, 2019
One of the founders of WeiBlock, Wansheng, revealed the motivation behind the platform. “I wanted to create a new form of social media; a blockchain-based social network, where users pay to post, pay to comment and give tips for the content that they like. […]Through these micropayments, WeiBlock has built an economic incentive model under which premium content creators receive rewards and thus produce more high-quality content. This will attract more users, which in turn will give more economic incentive to the content creators.”
The company’s rapid growth is testament to the need for an incentive-based social media platform where the users earn what they rightfully deserve. In just one and a half months, the platform has on-boarded over 1,000 users and continues to grow by the day. The company is based in Shanghai, China, so majority of the content is in Chinese. However, for non-Chinese speakers, the platform comes with an automatic translation feature to make it easier to interact with all content.
WeiBlock’s development engineer, Ceshu, explained why the team settled on the BSV blockchain, stating, “The reasons why I chose to be a BSV blockchain developer are that Bitcoin has a very stable underlying technology, and that BSV’s unlimited scaling capability and low fees give the product a lot of room for future development. However, my own ability is limited, so most of the credit for the rapid upgrade of the product goes to the BSV developer community.”
WeiBlock is just one of the many applications on the BSV blockchain that are integrating the ‘earn and spend’ philosophy that it embodies. Since BSV has the lowest transaction fees of any blockchain project, it facilitates micropayments and this allows developers to build applications that allow their users to earn small amounts. UptimeSV allows you to earn for giving feedback to enterprises about their website uptime, Twetch allows you to earn from your social media activities, Cityonchain lets you own a virtual city and earn from the activities in your city, RateSV lets you earn from the financial data you record on the blockchain.
The Genesis protocol upgrade on February 4, 2020 is a monumental step in the history of Bitcoin, and will see BSV returned as close as possible to the original protocol as envisioned by Satoshi Nakamoto. Visit the Genesis Hard Fork page to learn more.
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