Welcome to week 7 of the season 5 in the steemit crypto academy. Today professor @wahyunahrul
discussed a very interesting topic with the title Verasity - Advertising Services On Blockchain.
Let's get started.
1). What is Verasity? What do you think about the performance of this platform broadly?
In the year 2018 a software developer with the name RJ Mark develop the Verasity blockchain platform. This is a video sharing platform where content creators as well as companies share their adverts to get more user attention and then get a reward for placing their advert. Platforms that share videos like the verasity include among others YouTube, Twitch, Vimeo, VideoJS, Flowplayer, JWPlaye, Brightcove etc. A problem came where the content publishers don't usually get rewards as they ought to. Note that the reward given to the content publishers are some how based on the number of views. The more viewers the more reward and the lesser the viewers the lesser the reward.
The problem that affected the platforms like YouTube, Twitch, Vimeo, VideoJS, Flowplayer, JWPlaye, Brightcove etc, was based on the fact that bots views the content that human are suppose to view. This drastically increase the number of users and that has no effect on the income coming in to the publishers wallet. This means that bots view is not reward. This continued in almost all the platform listed above. It became difficult to trace real viewers and bots.
This problem lingered for a while then the Verasity platform decided to put a stop to this issues affecting the video playing platforms. In a way to carry out this action, they developed a consensus algorithm call the proof of view (PoV) algorithm. This algorithm (protocol) was use to filter fake viewers from the real viewers. This means that the system was only keeping track of real viewers.
With the help of these solutions, many video playing platform formed alliance or collaboration with the Verasity platform among these platform include YouTube, Twitch, Vimeo, VideoJS, Flowplayer, JWPlaye, Brightcove. The issues of fake viewers was completely taken care of in these platforms as they collaborated with the Verasity platform.
What do you think about the performance of this platform broadly?
The Verasity platform as we can see has help to solve a really challenging problem faced by the video playing platforms. With the provision of the proof of view (PoV) consensus algorithm, the platform has been able to collaborate with other leading platforms such as YouTube, Twitch, Vimeo, VideoJS, Flowplayer, JWPlaye, Brightcove etc. It is not all platform that rewards users from watching video in them but the Verasity platform has shown to use that even the viewers also need to be rewarded.
The filtering of fake users will enable content producers or companies who place advert to know the number of persons that has view their content. The PoV algorithm has help to make this possible.
2). How does the Proof of View system used by Verasity validate real viewers? Explain in detail and make an illustration about it.
In the Verasity platform, there is an inbuilt knowledge or a training that has been given to the system to dictate if the user is fake or real. The system uses Artificial intelligence (AI) to perform this operation. We know that AI is more of machine learning I.e the system learns automatically on it's own. When you have a robot for instance and you program it to wake you up at exactly 6am and then delivers a coffee to you, this is actually a program and that is how the bot will continue attending to you. Another case scenario is the google search, when you are always searching for a particular kind of video on YouTube, some times you get a recommendation from the system this is because the system has studied and understand your interest so it will only bring similar things to you.
This is exactly how the Verasity platform is built to help filter fake viewers. The consensus algorithm of proof of view is an AI model that studies behaviour of viewers and from the studies so far, it has been discovered that all bots behave in the same way. So when the system sees these same behave because it has become familiar with it it easily dictate that this user is a fake viewer (bot). When that is discovered, the system does not record this viewers and no reward will be given too.
When a different viewer comes in (a real viewer) the system also dictates as human have different behaviour from bots. So such viewers details will be taken into consideration by the system and when the viewer finish his action of watching a video or ads to the last, a reward will be given to him.
3). Why is "fake viewers" so detrimental to all parties related to videos and advertisements that are whown?
The issues of fake viewers been detrimental to the parties related to videos and advertisements is based on the fact that the business and aim of the advert is to see that a message is passed to those who may need that information and then in so doing the advertising company will make it's own money as welll as those who the informations are meant for. If fake viewers sees the information, nothing will be added to the account of the companies and as a matter of fact the message they are trying to pass through this advert will be defeated. Note also that they pay to place this advert since viewers too get rewarded.
With fake viewers in the picture, the content of the message will not achieve it's aim of reaching out to real users who may need that information. Because of that the rewards that is suppose to be given to the company won't be generated as well. In essence little reward is generated when there are fewer real viewers and lot of fake viewers.
4). Mention and explain ways so that we can get VRA Token rewards.
There are many ways one can actually get the VRA token reward but for the sake of this assignment task am going to list but a few which I felt it is the common ways to get the VRA token reward. These few ways are listed below.
- Publishing contents
- Watching video content
- Staking the VRA token.
Contents that are published in the Verasity platform helps users to generate the VRA token as reward. When ever more viewers see your content, the more money in form of the VRA token that you will generate. This is the reason why we want real viewers to view our content as it adds value to it. For companies advertising their products, when more viewers sees their advert the get new customers and in that way more VRA token can be gotten as reward.
Watching video contents
This is another way one can get rewarded using the VRA token.
scroll down to the list of videos and ads
click on anyone of your choice, in my case I clicked on the technews.guru
- click on the trophy seen on the new interface.
- Once that is done, a registration form pops up fill the form and submit
- copy the confirmation code sent to your email.
- past the confirmation code copied from your email clicked on submit button.
- When that is done you will see your wallet finally created and the details will be displayed.
- go back to the selected video and then play it to the last.
- when the video finish playing, you will notice a change in the colour of your trophy
- click on the trophy once again to see the details of your reward.
Staking the VRA token
Another way to get the VRA women reward is by staking the VRA token I.e locking your asset in the platform which will in turn serves as a liquidity for the platform. When this asset is use to carry out functions in the platform, it will in turn help to generate a reward at the end of the period of staking.
5). What is VRA Virtuous Cycle? Explain it in detail.
The VRA Virtuous Cycle is a cycle on how activities is done using the VRA token, this activities consist of Publishers buy VRA, Earns VRA, Watch ADS, Ads Benefits publishers, Use VRA to: and Cycle Repeat.
Publishers buy VRA:- In this cycle stage, the publishers buy VRA token from exchanges to fund their campaigns.
Earn VRA:- In this cycle stage, all registered viewers watch quality content and then get rewarded at the end.
Watch ADS:- In this cycle stage, all registered viewers watch ads and get more reward as in the case of watching a video.
Ads Benefits publishers:- In this cyclee stage, publishers generates revenue from ads and this is use to purchase VRA token. More campaigns are created to engage more viewers with the help of more VRA token.
Use VRA to:-In this cycle, the use of the VRA token is spilt out. This uses include staking, donations to publishers, purchase of goods and services and also to exchange the VRA token to BTC or ETH.
Cycle Repeat:- In this cycle, all revenue venerated by the companies are use to purchase back the VRA token from an exchange.
6). Create a VeraWallet account and show the complete steps (Screenshot Required).
The steps to create a VeraWallet account is listed below.
Step 1: Go to https://verawallet.tv and then click on create account.
Step 2: Fill the form provided and click on create account.
Step 3: Copy the verification code that is sent to your email.
Step 4: In the space provided from the creation of the account, past the code that was copied and click submit.
Step 5: Here a new form will display where you will be requested to use you google authenticator to scan the QR code or you copy the key and then input it manually on the Google authenticate to get your verawallet connected to the Google authenticator. In my case I scan the QR code and then I saw verawallet added to Google authenticator.
Step 6: When that is done, a new page will surface requesting you to enter a code generated by my authenticator app.
Step 7: Once that is provided, the next page will recommend that you download and save the secret key.
Step 8: After clicking on download, you will be directed to go to complete account which I clicked.
Step 9: A form will display, fill the form and clicked on submit.
Step 10: Once that is done you will see your wallet created as a sign of successful registration.
7). Explain what use cases the VRA Token has in the Verasity ecosystem.
The uses of the VRA token in the Verasity ecosystem can never be over emphasised. The reason is that the VRA token is the native token of the Verasity platform and because of that all the operations carried out on the Verasity platform uses the VRA token to implement them. Let's look at few of other specific functionalities of the VRA token below.
The VRA token is use to perform the staking activities in the Verasity platform.
Viewers in the Verasity platform get rewarded using the VRA token I.e it serves as a means of payment for viewers.
Content producers as well as publishers also get rewarded using the VRA token.
Advertising companies purchase the VRA token with the sole aim of rewarding their viewers with it.
8). Explain the steps on how to Staking VRA tokens (Screenshot Required).
To stake VRA token, follow the steps given below.
Step 1: Login with your valid credentials to https://verawallet.tv
Step 2: Select staking wallet
Step 3: Click on stake button
Step 4: Fill in the amount of VRA token you wish to stake and click on continue
Step 5: The platform allows a minimum of 10,000 VRA token when it comes to staking.
9). Watch one of the videos on the Verasity Website and show how we can get rewards from watching the video (Screenshot Required).
The procedure to watch a video on Verasity website and get a reward from it is very simple and straight forward. I will be listing the steps involve in this process below.
Step 1: Login to https://verawallet.tv/earn-vra and then select any video of your choice and then click on it. Here we are going to be watching from technews.guru
Step 2: Once you click on the technews.guru, it takes you to another page, where you can see list of videos, select any one that interest you.
Step 3: Once you select a video of choice, watch it till the end, because the reward only comes when you have successful watch the video till the end. When you have watch the video till the end, you will notice a change in colour in the Trophy colour, I.e change from white to green.
Step 4: Immediately the video ends, just click on the Trophy to access the details of your wallet as seen in the screenshot below.
The problem of false viewers was really a disturbing issues in almost all the video playing platforms such as YouTube, Twitch, Vimeo, VideoJS, Flowplayer, JWPlaye, Brightcove etc. With the help of the Verasity platform which came up with the proof of view consensus algorithm, this platform issues was solved because the consensus algorithm was use to filter false viewers from the platforms.
Another important aspect of the Verasity platform is the ability to reward viewers in the platform. As you can see, I was also rewarded for watching a video on the platform. This reward comes instantly immediately you finish watching the video. With the help of this reward, many users will always want to participate in the video watching as they will get reward after watching it. There is no doubt that the Verasity platform will soon have more users than usual as more people will always want to get this reward.
My gratitude goes to professor @wahyunahrul
for such a wonderful and educative lecture. Today I have learnt a lot about the Verasity platform and how it has help many video playing platform by using it's PoV consensus algorithm.