Veracity is the next-generation video sharing platform.

Verasity is a platform for video sharing, the purpose of which is to break the status quo and unite the best of centralized and decentralized worlds. However, this project has much more possibilities than simple video sharing; what sets him apart from others is his innovative economic model, which first puts the viewer, but allows content advertisers and other users to take advantage.

Right now, there is not much hype behind this project, as the company has not yet started its marketing efforts. Nevertheless, his private sale currently resides until April 30, followed by a public pre-sale sale before May 31 (25% discount), and then public sale until June 30. When we approach these dates, we expect to hear many details about this project.

How it works:

Let's start by defining the three main members of the Verasity ecosystem and their respective roles. It is important to note the whole of this system that it includes many "microtransactions" between all participants. Since traditional websites do not allow the use of effective microtransactions, blockchain is the best option.

Viewers

Viewers can earn VERA tokens by browsing the content, choosing to view the advertisement or as payments from the investment in the content creator channel through the Sparks Marketplace. Verasity can add additional monetization opportunities for viewers as development progresses.

Content creators

One of the strengths of Verasity is the number of ways to create content for monetization. The following monetization options are available:

Donations for viewers
Exclusive PPV content
Monthly subscriptions to exclusive content
Advertising - As mentioned, viewing ads is never required; he strictly depends only on him. Viewers earn tokens from a choice.
Spark Marketplace - one of the most unique features of Verasity. Through this market, content creators will be able to sell "rates" on their channel to other participants. These rates give the owner the right to receive part of the income from the channel. They can also fluctuate in value and bargain among the participants, like shares.

By providing content creators with a variety of monetization methods, Verasity intends to give them more freedom to create content that resonates with their particular audience.

Advertisers

Advertisers must pay viewers for viewing their ads. They receive increased return on investment in advertising with Verityity Proof of View technology, which uses a block chain to provide accurate, safe and auditable audience metrics. For example, this technology does not take into account the time of "parallel viewing", ie, you can observe only 60 minutes of content per hour.

This PoV technology is an integral part of the Verasity business model, as it allows the platform to assign a more accurate value to the content. It is publicly controlled, which increases the confidence of participants who rely on such indicators. Verasity applied for a patent associated with this technology, which also meets the requirements of the GDP and PCI DSS.

The Verasity platform consists of four components:

Video hosting and video distribution platform

Verasity is a version with a white label of the existing online video platform. This means that the Verasity video player was purchased from the market; the company did not have to develop it. Thus, it is a "proven" product, while Verasity claims that the technology has already proven its effectiveness in 8 petabytes of data per month (1 PB = 1,048,576 GB). This scale is achieved through the partnership of Verasity with Akamai, one of the world's leading suppliers of CDN (Content Delivery Network). The player is also adapted for mobile screens and is fully ready for HD (although the document only has 1080p / 60fps, which is not so much today).

Block infrastructure

The block will be used to store all non-video data, such as recording all microtransactions and various smart contracts. In order to ensure long-term scalability, Verasity decided to use the Graphene block chain. This open source blockchain technology was first used on the BitShares platform and is now being used in other major blockchain projects, such as Steemit and EOS. It is said that the speed of its transaction reaches ~ 3,300 per second (note that this was on the platform of the BitShares test platform). However, its creators claim that it can reach from 10,000 to 100,000 transactions per second. The key to achieving these speeds is its delegated proof of an agreed consensus.

Content Management

The content management layer that forms the interface members is used to interact with the platform. Verasity claims that this level has already been developed and will include functions such as analytics, recommendations and content moderation. Moderation of content will begin at a more centralized administrative level, gradually moving to the user's moderation system.

Channel Support

This is the component that gives the Verasity platform one of its most unique features - Spark Marketplace. As already mentioned, it is here that participants will be able to "invest" in the content creator channel by buying VeraSparks. VeraSparks can also be exchanged among participants for profit. Each channel is assigned a value based on an algorithm that takes into account the number of views (based on PoV technology), the revenue stream and recommendations.

ICO
As the currency of the Veracity economy, the VERA token will be used to facilitate all types of transactions described in the previous sections. The volatility management of the VERA token is important for the sustainability of the Verasity economy. After all, no one wants to use an asset that fluctuates so much in value as a unit of currency.

Verasity uses methods to manage volatility and stimulates the long-term holding of the Vera token. Here are a few examples:

Cash management: new Vera coins are added to the bonus pool. From there, they can be strategically divided between different parties for maximum participation. Verasity will use the increase in money supply to compensate for any sudden surges in the demand for tokens. This also acts as a mechanism for short-term speculation. As soon as the economy stabilizes, Verasity expects that it will be able to keep monetary inflation at 3% per year. Verasity can also reduce this rate to zero in the opposite scenario. And if this is not enough, the platform can further reduce the load by removing tokens from circulation.
VeraSparks: the greater the number of bidders in the channels of content creators, the more Vera tokens are "locked" in the system.
TotalSparks: Another unique feature of the platform. Participants can purchase TotalSparks, which gives the owner the right to a portion of the proceeds from the Verasity Foundation's commercial transaction pool (in the event of a transaction fee). TotalSparks have an expiration date on which the principal will be returned to the user. Think of TotalSparks as government bonds for VeraSparks corporate shares.

Verasity creates a new decentralized crypto economy built around shared video content, viewership and engagement.Built-in economic mechanisms provide for efficient recognition of value contributed to the economy, and incentivizes contributors directly which supports long-term economic growth. All payments within Verasity are made in a cryptographically secure digital utility payment coin called VERA. This removes expensive middlemen and enables direct value exchange between video Viewers, Creators, Advertisers and Brands, even at microtransaction amounts.A small transaction fee is taken to run the platform, drive mass user adoption and for research and development to enhance the platform and economy. All revenue generated from transaction fees will be reinvested into the platform.

Team:

Conclusion:

Since Verasity has not yet embarked on a strong marketing effort, it is difficult to predict how its ICO and token will work in the short term. However, the Telegram group has already reached more than 33 thousand people, which is worthy, which means that soon we will see a growing noise around this project. Another thing that Verasity is striving for is that it promised to follow the ICO Sustainable Protocol, a new initiative and methodology to ensure a sustainable, safe and prosperous ICO. In the long term, Verasity's unique business model makes it outstanding from the package. Its main advantages are a scalable and proprietary block-chain, Proof of View technology and a lot of monetization possibilities for content creators. Although it is still too early to make an accurate forecast of how this project will work, Verasity is a promising project in the market space that is intended for change.

I want to advise you to read the official website and technical document to make sure that the project has a future! Let's wish success to the team! Soon we will be able to see the work of the platform! Thank you for your attention, join my blog and comment! I will be very happy! Good luck!

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Link to Website - https://verasity.io/

Link to Bounty - https://bitcointalk.org/index.php?topic=3736175.msg36961868#msg36961868

Join Airdrop - https://verasity.io/airdrop

Priority Registration - https://verasity-join-whitelist.paperform.co/

Link to Whitepaper : https://verasity.io/documents/verasity_whitepaper_eng.pdf