Nor do social networks escape the reach of innovations with Blockchain technology. OnG-Coin, a social networking board based on blockchain currently has an ICO until 12 September. Seeking to highlight, OnG-coin is another example of how social networks, like many other industries, are prime areas for the successful application of blockchain technology.
The project has been backed by IBM since 2014, and OnG-coin’s parent company has a valuation of more than $ 25 million, putting this ICO well ahead of others. Also unlike other ICO, OnG.social, the product behind the OnG-coin is a live and operating product. Compared to other ICOs that are “based on well thought out concepts that are looking for funds to test their idea,” the On-Coin ICO tries to take its proven product in the blockchain.
OnG has a platform that is resistant to censorship and control, which seeks to encourage the truth, with a system to vote down the propaganda and lying, as the whitepaper says. OnG uses a “weighted compensation algorithm” called Gravity, which measures and rewards the verified truth of the community and the overall global impact for each point made.
Currently, the dashboard allows users to manage Facebook, Google+ and Linkedin social network accounts, but expansion in other accounts from other social networks in the near future also seems likely and is also necessary in our opinion.
All messages are reflected in their own feed, called Content Mirror.
OnG.coin will be launched on both Waves and Ethereum, adding not only redundancy but more stability and security.
Tokens are sold at a rate of $ 0.50 per unit, with a discount of 10 percent for investments between $ 50,000 and $ 100,000. Investments in excess of $ 100,000 have a discount of 20 percent and a six-month consolidation period. Anywhere between 15-25 percent of the total supply of coins will be sold during this sale, but users can test the features of OnG-Coin already.
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