The Top Fan functionality adds another dimension to the mechanism of donations within the platform: this new and advanced function highlights, under any content published on Cam.TV, a banner with the profile of the user who made the highest donation.
Specifically, the banner shows the name of the user's channel, the amount of LKSCOIN donated and the “Follow” button that allows other people to follow the Top Fan user of that specific piece of content. As users send more donations, the banner is updated together with the area of the homepage which shows the general ranking of the Top Fans of that week, of that month and of all time.
The Top Fan function initiates a real virtuous circle which benefits all users. On one side, content creators, thanks to the integrated monetization system of the LKSCOIN, are encouraged to carry out their online businesses. On the other, the users who support them obtain visibility in exchange for their donations.
The users are always completely free to choose who to support. In this way, content creators are encouraged to produce valid content with the aim of obtaining donations in return, in a constant flow of wealth that gets exchanged and that spreads throughout the community.
But, above all, the Top Fan function serves the purpose and use of the LKSCOIN cryptocurrency which is designed to make a positive impact in the digital progress of society, since it is able to track, remunerate and reward - with payments and donations - the users who create content on social networks, within various platforms and, more generally, on the web.
The monetization of digital content is a very relevant phenomenon with a strong social impact because it allows millions of people around the world to achieve their financial freedom thanks to the support of others.
Social networks and digital platforms will be increasingly interested in the possibility of monetizing the contributions published and offered by content creators because the benefits for communities are enormous. With the possibility to monetize content, in fact, creators can be stimulated, rewarded and encouraged to constantly improve their online offer. They will be able to be completely (or to a large extent) independent of traditional forms of financing and free to dedicate themselves to what they and their audience love.
The Internet has allowed many artists, professionals, consultants and enthusiasts to engage otherwise unreachable audiences. It is precisely thanks to their content that, over time, creators were able to form ever larger communities of people who were inspired by their work and generated, in turn, even more traffic.
The ability to attract new users is the key element of success for social networks and platforms which, therefore, have a strong interest in offering tools to support the activity of their respective creators. For instance, Patreon, the platform that allows creatives users to earn money thanks to the contributions of their fans and supporters, has more than tripled in value recently, reaching $4 billion (counting over 200,000 active creators) in April 2021.
The blockchain with the new possibilities it offers (such as immutable accounting ledgers, smart contracts and cryptocurrencies) is able to give a boost to the monetization of digital content by promoting new trends in the online sharing of wealth.
The implementation of blockchain technologies within social networks and platforms would add another dimension to content distribution systems by making them safer, more ethical and capable of offering to creators protection and fair remuneration for their commitment and work.
In addition to Cam.TV, there are other examples of platforms that have already begun to make use of these technologies.
Decent is a decentralized open source content distribution platform that allows anyone to buy, sell or share content without middleman fees or manipulations. Using Decent, authors can share their content directly with consumers using blockchain technology and a modified version of the Bittorrent protocol, without any cultural, geographical or political limitations.
This platform allows consumers to acquire content for a cheaper price, while the content creators can keep 100% of the profits. Furthermore, there is no central authority that imposes censorship, while content creators can be free to fully express themselves and succeed or fail, regardless of what companies or authorities believe is appropriate.
Steemit is another blockchain-based social network. On this platform anyone can be rewarded for posting interesting content, for carrying out promotional activities and for investing their tokens in a dedicated investment fund. Steemit is designed as a decentralized application (DApp) and it is build on the Steem blockchain, the cryptocurrency used within the platform has the same name (STEEM) and is employed to reward users.
In addition to the two projects mentioned above, there are also many other initiatives that use blockchain protocols in the field of social networks:
● Dtube - (based on Steem) - advertising-free video sharing platform;
● Dlive - (based on Steem) - ad-free streaming platform;
● Peepeth - (based on Ethereum) - permanent Twitter;
● Minds - (based on Ethereum) - social network very similar to Facebook;
● Memo - (based on Bitcoin Cash) - social network very similar to Twitter;
● Twetch - (based on Bitcoin SV) - social network very similar to Twitter;
● Streamanity - (based on Bitcoin SV) - ad-free video sharing platform.
As we know, Cam.TV uses LKSCOIN for payments and donations. This is a cryptocurrency developed to be easily integrated into social networks and digital platforms and it serves as a token to support active users who create content.
LKSCOIN, in addition to guaranteeing safe, transparent and, above all, immediate transactions, can also support donations, thanks to its very low transaction costs. It clearly differentes itself from the main cryptocurrencies on the market which have transaction costs tending to 1% and which are therefore unable to facilitate micropayments to the present day.
But there is more to that: With the objective of enhancing the work of creative users, LKSCOIN has launched a challenging project that aims to provide guarantees for the protection of the creators themselves. The goal, in fact, is to build the first digital tool for copyright protection through the creation of a Non Fungible Token capable of tracing and authenticating the authorship of a content. This tool would allow a more informed use of social networks (the possibility to trace back who was the person who published something, discourages improper behaviors and the dissemination of misleading information online) and, above all, it would protect the work and ideas of all online content creators safeguarding their copyright.
In June, there will be the launch of an important initiative led by Cam.TV for the integration of NFT into the platform.