Etalonium: Social Media, P2P and DAO - Time to Change Paradigm

JUL 26, 2020

Etalonium, a decentralized platform for the fashion industry, talks about the disadvantages and possible alternatives of traditional social networks.

Since their emergence, social networks have become a part of our lives. In the modern world, it is difficult to imagine a person without an account on Facebook, Instagram, Twitter or LinkedIn. This fact is supported by the global activity indicator - the average person spends more than two and a half hours a day on social networks! And so far, Facebook dominates the list of activities - 2.4 million unique users per month. Youtube follows (2 million), and WeChat closes the top three with 1.1 million users.

All of these platforms have built a powerful ecosystem around their product. They provide many tools for both users looking for entertaining, educational or popular content, and those looking to make money. Thanks to them, a new type of businessmen was born - they have no representation in the real world, do not have a website for their business, they only need a page on a social network. Whether they produce content, or sell hand-made goods, a social network can satisfy all requests and won't ask for anything in return. But is it so?

What we lose?

We are losing our freedom.
Now our data does not belong to us - we give all our data to the Internet giants. The recent scandals related to the leaks of users’ personal data from the largest social networks of the West and the East have shown that in the modern world, a person's personality does not belong to him. Corporations meticulously put together a user profile that describes everything: habits, desires, inclinations, dreams. All our data are valuable commodities. In a never-ending desire to know everything, corporations are moving out of their territory, spying on and researching what should be kept private - TikTok and WeChat are examples of this. The problem of personal digital security is becoming more urgent than ever.

But digital security is only one side of the coin. The other is centralization. At its core, a social network is wholly and completely dependent on the corporation-operator and owner. The user only “de jure” owns the account, since the corporation stores the data and has full control over it. And if “falling out of favor” happens - a person ceases to exist. Losing an account in today's digital world is equal to being excommunicated in the Middle Ages - and just like in the Middle Ages, the power to decide remains in the hands of those who control the masses.

How the new paradigm was built

This state of affairs could not but create a public demand for an alternative. And it came about when the power of computers grew to 47 Gflops in 2007. In theory, devices were able to perform most high-priority operations (such as encrypting or verifying data) locally, without having to interact with a much more powerful and specialized server. This is how the concept of custom distributed networks was created. And in 2011 it found its best use - blockchain, which gave birth to the phenomenon of cryptocurrencies.

At its core, the widespread use of cryptocurrencies is a utopian dream. But nevertheless, step by step, one can see how utopia is brought to life, giving rise to independent processes, united by a common idea of ​​freedom. One such process was the formation of DAOs - Distributed Autonomous Organizations. DAO is regulated by the algorithms of the network in which it exists, excluding forgery, deception and human error. Such an organization ensures fair equality of participants and gives everyone the opportunity to speak out, forming a hierarchy in an equitable way, based on the rules of the community, described in the form of a network algorithm. The DAO trend was warmly received by the crypto community and was reflected in the ideas and projects of major players in the international crypto market: EOS platforms - “Voice”, Bitfinex - “Dazaar”, Chinese technological social platform Baidu, etc.

Community response

These principles formed the basis of the Etalonium platform - a DAO-platform, which is a social and working network for participants in the world of Fashion and people who want to make money on it.

Through focus groups and events, where both Fashion industry professionals and caring supporters of the crypto industry took part, Etalonium got an accurate picture of what a universal product that follows the DAO ideas and helps its users in professional and social development should be. In search of questions, problems and solutions, Etalonium has come a long way - Odessa, Paris, Cannes, Rio de Janeiro, San Paolo, Beijing, Shanghai.

The Etalonium platform offers to form an effective ecosystem of the fashion world, where platform members can freely conduct business thanks to reliable and secure platform algorithms, create information platforms, hold events and explore the world of fashion. The platform determines efficiency through reliability, impartiality and openness of rating formation algorithms and security thanks to distributed technologies and, in particular, blockchain.

As a social network, Etalonium offers a new form of interaction between creators and consumers of content, making its production and consumption profitable for each of the parties. Given the specific nature of the platform, it is users who play a major role in determining how valuable, aesthetic and useful data is to the community. The selection algorithm generates a feed based on the actions of its users, and therefore the platform encourages participation in the work on content, thanks to rewards for activity in production, evaluation and selection to form an independent rating of content.

The key point of the platform ecosystem is the reputation module. Each user, regardless of their role, uses their reputation to communicate securely with the platform and other users.

The reputation module is based on the ExtraChain (ExC) blockchain. Any actions within the Etalonium framework affect the rating and cannot be faked thanks to the blockchain.

As a working network, Etalonium, using the protection and verification methods available in the underlying protocol, creates an independent, reliable and efficient ecosystem for the interaction of customers and contractors within the platform.

Etalonium is based on the ExtraChain (ExC) protocol and, using the features of the ExC technology, creates a media ecosystem with a full set of basic content distribution channels. These include:

  • Photo and video content;
  • Streaming channel system;
  • Specialized work content (for customers and contractors of the Fashion world);
  • Custom advertising resources.

Special attention should be paid to the last point. Given the fact that the DAO imposes certain restrictions, Etalonium does not aim to use advertising as a source of income, unlike social networks with a classic approach (Facebook, Instagram, Twitter, YouTube, etc.). Embodying the idea of ​​equality of network participants, Etalonium provides users with advertising tools, allowing them to develop both socially and professionally. Etalonium's idea is to create a new secure technological environment, a structure with all modern social channels and supply chains, convenient for both beginners and professionals from all over the world.

To ensure sustainable development, Etalonium offers the following modules:

  • Reputation and competency assessment system protected by the blockchain. It is the basis of a module that covers all activities of a network participant. According to the idea of the system, the rating is compiled from the initial data specified by the participant and verified by the rest, and his subsequent activities. Any actions within the platform affect the rating and cannot be faked thanks to the blockchain.
  • ExC cryptocurrency with the ability to tokenize the participant's progress;
  • Messenger based on ExtraChain data exchange technology;
  • Personal Assistant - a local analyzer of trends and participant actions, which helps in finding, evaluating and predicting which content will most effectively influence the rating and how to develop your personal brand;
  • Streaming service - a platform for exchanging content and interacting with platform participants in real time;
  • Marketplace is a platform for participants involved in the production of goods and sale of services in the world of Fashion. This site is also connected to a Personal Assistant, which allows the participant to monitor the demand for goods and services, receive an assessment of efficiency and suggestions for improving it.