Current Social Platform Shortcomings

Since the blockchain came into being, the “trust mechanism” has been replaced by the “consensus mechanism” and the “encrypted algorithm” gradually, which is why the blockchain is widely and warmly welcomed. Hence, the central nodes must adopt the trust mechanism. Additionally, a  centralised management structure must be applied towards all related and give rise to a series of corruption problems. businesses, but this might lead to the overwhelming power of central nodes.

In current centralised social platforms, the same problems might occur, which could harm the interests of users and become problematic issues.

First, Deluge of Low-quality Content

  • Insufficient Incentives
  • Bad Money Drives Out Good People

Second, Insufficient Safety and Lack of Care For Users

  • Insufficient Safety
  • Restricted Freedom

Third, Sense of Belonging and Sense of Participation

  • Lack of Sense of Belonging and Sense of Participation

Fourth, Questions shall be more valued than answers

Fifth,Pain Points of Content Creators

  • Unable to Monetise Content

Sixth,Key Issues Faced by of Developers

  • High Distribution and Promotion Fees

ONO Create Background

ONO is based on the belief in the value of attention.
As far as ONO is concerned, there exists many valuable human social activities within a social media ecosystem and ONO recognises the inherent value of both the supply-side and demand-side of human cognitive and social energy.

The ONO team believes in equality. Since everybody is born equal as human beings, so obtaining incentives and gaining attention in social platforms shall also be equal.

As far as the ONO team is concerned, attention and time are the most precious resources in future society and also are the resources most valued by the community of ONO. The act of placing the social media content within the community has more value than the content itself. In addition, the time and energy that was spent by creators also is considered part of the overall value of the content. The power of the attention of users directly impacts the value of the content; hence, the attention of the users will be incentivised as well as the act of content creation.

Xu Ke,CEO of ONO
Brief Introduction Of Xu Ke

Born in 1995.
Continuous jump grade student, 19-year-old UCL graduated, early Bitcoin miner.
Deputy Director of GrandShore Blockchain Industry Development Research Institute.
She is called the first female entrepreneur in China blockchain field by Forbes.

Intro of ONO DAPP

ONO DAPP
The underlying philosophy of the social network of ONO is to combine core social values with the original vision of the creation of the internet. The concepts of freedom, equality, social public governance and diversity are the healthy components of a diversified social networking ecosystem. Starting in 2014, the ONO team started creating R&D products. The first of which was ERA, the which created a value-based social network, and then CryptoDogs based on Ethereum. All these social networks the ONO team have built were able to successfully meet their goals.ONO is built on the realisation that in order to establish a decentralised social network, firstly, it needs to protect and respect the three main interests of  users: equal dignity, equal rights and reasonable remuneration for usage; secondly, it shall provide easy-to-use and enjoyable product experiences which will exceed all expectations.ONO replaces the centralized and exploitative “ownership” business model with an ONOT and blockchain-based social network rich in virtual products in order to balance the allocation of economic benefits between content creators, the users who give their attention and the platform providers. It intends to provides a solid, highly principled foundation for the building of a decentralised, community co-governance and diversity-centric social network.The ONO team believes that to solve the above-mentioned key issues for users, a complete content ecosystem needs to be based on common goals, along with a reputation mechanism and a virtual commodity economic system for distribution of resources. With a variety of symbiotic mechanisms these two independent ecologies will create a continuous feedback loop within the consensus and developed ecosystem.
ONOT

ONOT is a virtual commodity trusted and held by all members of the community of ONO. It embodies the value of virtual goods, social traffic and of attention, which is transferable, shareable and precious. ONOT can be used and circulated in the social content market, referendum market, mini app market and transactional market in order to realise its commercial viability.

ONO usesn blockchain technology to record and verify the content release details, payment transactions, consumption and purchase, as well as referendum activities. All the operations will be recorded in the blockchain of ONO, to ensure that operational data is authentic and unable to be altered.

The ONO system returns value to the users who created the attention. As an important value certification with public trust in the social media network, ONOT can be divided and transferred; it is required to be consumed for certain function on the social media network, such as placing ads. This the external usage value and product attribute of ONOT.

At the same time, ONOT also has many application scenarios in the social media network. It is also a free circulation pass. This is theinternal value and circulation attribute of ONOT.

The native digital cryptographically-secured utility token of ONO (ONOT) is a major component of the ecosystem within ONO, and is designed to be used solely as the primary token on the platform. ONOT will initially be issued by the Distributor as ERC-20 standard compliant digital tokens on the Ethereum blockchain, and these will be migrated to tokens on the ONOchain when it is launched.

ONOT is a non-refundable functional utility token which will be used as the unit of exchange between participants on ONO. The goal of introducing ONOT is to provide a convenient and secure mode of value exchange, payment and settlement between participants who interact within the ecosystem on ONO. ONOT does not in any way represent any shareholding, participation, right, title, or interest in the Foundation, the Distributor or its affiliates, or any other company, enterprise or undertaking, nor will ONOT entitle token holders to any promise of fees, dividends, revenue, profits or investment returns, and are not intended to constitute securities in Singapore or any other jurisdiction. ONOT may only be utilised on ONO, and ownership of ONOT carries no rights, express or implied, other than the right to use ONOT as a means to enable usage of and interaction with ONO.

The Distributor which issues and sells ONOT shall be an affiliate of the Foundation. The initial circulation of ONOT is 75 billion. With the year-by-year incremental creation mechanism, the final amount should total 100 billion ONOT. ONOT is the only circulation token of ONO.

Based on Proof of Contribution (POC), ONO will distribute ONOT to individuals who contribute to the social media network.

The portion distribution of ONOT is based on a constant definition: ONOT incentives can be measured by the value of the users’ contributions to the ONO social media network. The daily dynamics and content creation of social media networks are of equal significance to the sustainable development of a community.

ONO Ecosystem
The social network of ONO consists of one fundamental ecosystem and two cyclic ecosystems. The fundamental ecosystem refers to the instant messaging app and the rich content stream which satisfies the primal social engagement needs of human beings. One of the cyclic ecosystems refers to the referendum structure which is concerned with giving equal rights to participants. The developer ecosystem delivers a diversified app experience to the users. The fundamental ecosystem when combined with the other two cyclic ecosystems, aims to give the users a free and open infrastructure and equal opportunities with shared governance, which respects the dignity of individuals and reflect a healthy human-centric experience.

Writer: Rain Ci https://www.ono.chat

Want To Know More About ONOPlease Write Email To cirunbin@ono.chat

This site uses Akismet to reduce spam. Learn how your comment data is processed.