(1) What is Verasity? What do you think about the performance of this platform broadly?
(2) How does the Proof of View system used by Verasity validate real viewers? Explain in detail and make an illustration about it.
(3) Why is "fake viewers" so detrimental to all parties related to videos and advertisements that are shown?
(4) Mention and explain ways so that we can get VRA Token rewards.
(5) What is VRA Virtuous Cycle? Explain it in detail.
(6) Create a VeraWallet account and show the complete steps (Screenshot Required).
(7) Explain what use cases the VRA Token has in the Verasity ecosystem.
(8) Explain the steps on how to Staking VRA tokens (Screenshot Required).
(9) Watch one of the videos on the Verasity Website and show how we can get rewards from watching the video (Screenshot Required).
INTRODUCTION: Good day @wahyunahrul and every member of this great community and I wish us all Happy new year. Welcome to my homework post for season 5 week 7. Thanks for this wonderful piece of knowledge
Before I go further into the real details of verasity I will speak about the English meaning of verasity. verasity means truthfulness, accuracy, and precision towards something or in the making of a project.
In today's lecture verasity was described as a platform developed by RJ MARK in 2018 who has been developing hardware and software for different technological companies like android and iOS and the likes, verasity was introduced with the intention of creating a fair video sharing ecosystem for all parties involved in the process of sharing the video to the public through various means like YouTube, twitch and other various video website and one other interesting done by verasity is that they reward every user that makes use verasity as a link to watch videos and this video is in form of tokens called VRA and as earlier said *verasity help to share an accurate video sharing ecosystem and there's a problem facing this video sharing system and the problem are fake video viewers like bot and verasity adopted a method called proof of view which we will be emphasizing on below.
Proof of view is the system adopted by verasity to counter the problem of fake views on video viewing channel, the proof of view make use of two ways to counter the problem of the fake view which are;
- 200 touch point
- Artificial intelligence (AI) technology
200 Touchpoint is one of the methods of filtering fake views, this method was developed by verasity to eradicate fake views by bots, this is done because users of video websites are afraid of uploading videos in other not to lose funds and advertisers making use of the videos uploaded for adverts.
Artificial intelligence (AI)
Artificial intelligence is also a way of filtering fake views by the use of robots to review video views in which the robots make use of computer programming codes to access treat by bots that cannot be viewed by a normal human.
According to statistics the over 40% loss have been made through bot views and this is really discouraging to advertisers because they don't want to record losses but since the verasity has come up with the beauty of proof of view to screen check and filters all views to fish out fake views.
Fake viewers has caused a lot of havoc to creators of content and advertisers' ecosystem through bot view, according to set down statistics over 160 billion dollars has been lost due to the impact of fake views, the funds that are supposed to be shared between the video creator and advertisers will be reduced due to the effect of fake viewers of the posted video.
fake views has to lead to the detriment of some video platforms which has made verasity partners with these video platforms to help them from fake viewers which have to lead to misunderstanding between both parties, so fake views are not encouraging at all, it causes a lot of drawbacks to the ecosystem.
The introduction of proof of view by verasity has brought a stop to fake views and has made verasity more popular and more video platforms are partnering with them and their token VRA has become a token that is not to joke with, more explanation on verasity token will be expantiated below.
Verasity often gives reward inform of token to every of their user for watching videos, the amount of VRA given depends on the amount of video watched, analysis of the reward will be shown below.
Firstly, I visited https://verawallet.tv/earn-vra. On the homepage I saw a series of videos, then I register as a new user by clicking on technew.guru to get started.
Then I got to where I could find more videos the I clicked on a video, on the video, I clicked on there was a trophy logo at the top right corner, then clicked on the trophy logo to join as a new user.
Having verified my account, the I proceeded to where I could watch to earn, in the screenshot below I have not viewed any video, so my VRA earnings are still zero.
Then I proceeded to watch a video in which I earn one VRA for watching a video.
So, this is how to earn through verasity, the more videos viewed the more the reward earned.
The VRA virtuous cycle is a cycle that has the following features that will be explained in detail, Buyers buy VRA, verasity earn, earn VRA, user benefit, use VRA, and repeat cycle.
Buyer buy VRA
So many users make use of the verasity token which is VRA game developers and public sponsors make use of VRA for the advert by purchasing the token with a credit card for campaign and tournament and its use go monetization purposes.
Verasity also benefits from all the partnerships with the video platform in some part of the profit from the advert is shared among everyone in the ecosystem.
Every user of verasity earns VRA token from viewing videos posted by video creators and other people in the ecosystem also earn when the video they posted is been viewed, both the video creator and the advertiser get their quota as profit.
Every user of the verasity platform gets a payback reward for making use of the platform to view video content. In the ecosystem everyone that is active will always earn both viewers, creators and advertisers will earn.
The process of the VRA virtuous cycle is been repeated for active users, that partake in every task and engagement that is done on verasity.
To create a VeraWallet Account, below are the steps I took.
I go to Verawallet.
I clicked on Create account.
- I did and passed the verification test.
- I went to my Gmail account to copy the verification code that was sent.
- I inputted the verification code sent to my Gmail in the placeholder given and then clicked on Submit.
- I set up two-factor verification by scanning the QR code using Google Authenticator. having done this, I clicked on Next.
- I inputted the code generated by the Google Authenticator app.
- I copied and saved the secret key that can be used to restore the account later in the future.
- After saving the code, I clicked on Go to complete account to finish up the account creation.
- I completed the creation of the account by filling in my First name, Last name, Date of birth, Residency country, Residency address, and Phone number.
With that, I have successfully created an account as we can see in the image below.
Used for monetization: VRA is used for monetization in the verasity ecosystem because game developers buy VRA with their credit cards for campaigns and sponsors of games.
Used for staking: Staking is majorly done by holders of the VRA token by participating in the VRA reward pool, this pool can be found on the verasity platform, here users earn more rewards through staking.
Serve as a reward to viewers: As earlier said the VRA is used as a reward for content viewers, where one video watched is equivalent to 1VRA the more the video watched the more the reward.
Used for creator and advertiser reward: As we have different people viewing videos on the verasity platform the video creator and advertiser also get their reward from there.
The VRA tokens can be staked on the VeraWallet account and below are the steps that are to be taken to stake.
On successful creation of VeraWallet account in which the steps taken to doing so had been listed in Question 6 above.
- I clicked on Staking wallet.
- I clicked on Stake.
- I inputted the amount of VRA tokens that I want to stake and on clicking Continue, we can see that it wasn't successful as the minimum VRA tokens that could be staked is 10,000.
Below are the steps I took to watch a video and earn rewards from watching the video on the Verawallet account.
- I clicked on Earn VRA
- I scrolled down to the Rewarded video section and then clicked on ACTIVE.
- I opened one to the link Technews.guru in the section.
- I opened one of the videos displayed on successful loading of the link.
- While the video was playing, I noticed a whitish trophy symbol at the top right corner of the displayed screen and immediately after the video ended, the color changed to green as can be seen in the two images shown below.
- I clicked on the trophy symbol and boom, I can see my wallet, account, etc. and I also confirm the reward I got for watching the video too as can be in the image below.
The verasity platform has been a very interesting platform to explore with amazing features on the platform. verasity is an Ecosystem where everyone gets rewarded according to their participation the viewer earns the verasity token VRA by viewing videos and the video creator and advertisers get their own reward from videos viewed.
And the VRA told is not a token that should be taken with levity hands because it will soon be known by so many people because of the importance of the verasity platform by getting rid of fake viewers which amount to the loss of funds
On the part of those who uploaded the videos.
verasity did a great job by bringing the idea of proof of view just to filter fake viewers from the normal humans that view video content.