Ono is an EOS-based decentralized social networking site launching in July of this year. According to the Ono Social Network whitepaper, Ono will not be like the social media platforms that “manage the users and create all the rules about the content posting policies of the platform, [siphoning] off vast amounts of wealth which are generated not by them, but by the content creators,” Ono rewards its users for creating content and sharing data.
Instead, “Ono plans to establish a decentralized social network based on the principles of freedom, equality and social public governance, in which, the value of attention is properly defined and the content creators can fully reap the true rewards of the value they create,” reads the whitepaper.
Ono’s self-described “most important mechanism” is its reputation mechanism. Because establishing a high-quality ecosystem is important to Ono’s mission, users “who conduct evil behavior, such as destruction and harassment” will be punished accordingly. Users’ posts are either upvoted or downvoted–when a user has a low reputation score, their content will not be visible to other users.
Ono is currently just getting on its feet, but it’s projected that the platform will eventually have 5 million active users every day. To handle this projected high volume, Ono “ONO hopes to adopt a consensus mechanism of DPOS+BFT (delegated Proof-of-Stake +Byzantine fault tolerance) to strengthen the security of DPOS and make it to tolerate byzantine faults. It is a kind of powerful and decentralized solution and can effectively solve the technology problems that the ONO platform faces.”
The platform has also integrated more privacy features than what is available on most centralized social networks. Messages sent through Ono are encrypted end-to-end. Additionally, “content data established by ONO users will use the private key of the users to enable encryption.” Encrypted data will be stored on the EOS blockchain.
Perhaps one of the most interesting thing about the about the platform is the fact that it didn’t have an ICO. Rather, its team decided against the practice because they allegedly wanted the Ono ecosystem to be nurtured and developed by community-builders; they were not interested in short-term investors looking to turn a quick profit. Ono’s founder, Ke Xu, additionally told HackerNoon that she turned away large sums of investor money because she wanted to maintain control over the project.
Rather, traders and speculators will be welcomed into the ecosystem at a later stage, after the site is fully functional and the online community is thriving. Exactly when this will happen has not yet been announced.
Find out more about Ono at the official Ono website.
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