YOYOW Whitepaper

Sunday, June 17, 2018
Download document
Save for later
Add to list

1

Table Of Contents Overview ................................................................................................................................................................ 4 Chapter 1 Design Philosophy ...................................................................................................................... 5 1.1 Industry background and development motivation ....................................................................... 5 1.2 Development direction .......................................................................................................................... 6 Chapter 2 Technical Details........................................................................................................................... 8 2.1 Use of token ............................................................................................................................................. 8 2.2 Platform model ....................................................................................................................................... 8 2.3 User roles ................................................................................................................................................ 10 2.4 Polling and value system .....................................................................................................................13 2.5 Authentication system and login methods ..................................................................................... 17 2.5.1 Authentication system .......................................................................................................................18 2.5.2 OAuth cross-site login ......................................................................................................................18 2.5.3 Single sign-on (SSO) ......................................................................................................................... 19 2.6 Content publication, repost and comment ....................................................................................19 2.7 Content value distribution ................................................................................................................. 20 2.8 Community platforms and the corresponding smart token ..................................................... 20 2.9 Adverting system ................................................................................................................................. 22 Chapter 3 Application Contexts ................................................................................................................ 23 3.1 Social media platforms ........................................................................................................................ 23 3.2 Blog, encyclopedia and forum platforms ....................................................................................... 23 3.3 Q&A platforms...................................................................................................................................... 23 2

3.4 Traditional websites ............................................................................................................................. 24 3.5 VOD/live broadcast platforms .......................................................................................................... 24 3.6 Content aggregation platforms ........................................................................................................ 24 3.7 Witness and copyright protection service ..................................................................................... 25 Chapter 4 Ecosystem ................................................................................................................................... 26 4.1 YOYOW SDKs......................................................................................................................................... 26 4.2 WordPress, phpBB, Joomla, MediaWiki and Discuz plug-ins .................................................... 26 4.3 Development support and ecosystem construction ................................................................... 26 3

Overview YOYOW, named from “You Own Your Own Words”, is a blockchain-based network aiming to quantify participants’ contribution and give reciprocal value to participants in the content producing sector with decentralized consensus methods so that content producers, content supporters, curators, and consumers of the content ecosystem can be provided with incentives and reciprocal returns as appropriate. YOYOW is designed for establishing a rational content-generated value distribution mechanism and a value network based on users' ratings on content. Any content platforms (including but not limited to websites and APPs), regardless of their themes presented in the format of text, video, image, audio or live broadcast, etc., are eligible to create the corresponding content-oriented value platforms based on the YOYOW network. Content producers, content supporters, curators and builders of the content ecosystem will be recognized according to the YOYOW eco- environment and users' ratings of content. 4

Chapter 1 Design Philosophy 1.1 Industry background and development motivation In the past few years, active users, quality content producers and spreaders brought massive traffic and huge profits to social networks (e.g., Facebook, Twitter, Reddit, Weibo, Zhihu) and user- generated content (UGC) platforms. However, these users never have absolute control over the content created by themselves, and neither do they amply enjoy the generated profits and advantages. Taking Zhihu for example, the website presently has over 65 million registered users. During 2016, Zhihu users contributed over 6 million questions, 23 million answers and 1.51 million articles. With the powerful user base, Zhihu is worth over USD 1 billion after Series D funding. Yet, except respect from other users, the high-quality content producers who help create Zhihu's value get no reciprocal rewards. We believe Zhihu is more than willing to provide quality content producers with reasonable reciprocal returns since high-quality UGC is always the core of Zhihu's value. However, considering that UGC is not a direct source of value, it is extremely difficult to set an appropriate value of fragmented UGC. As a result, UGC beneficiaries—the platform and its readers, fail to recognize the content producers in a rational way. In general, the UGC sector urges a reasonable incentive system to encourage quality content producers. 5

Powered by blockchain technology, we come up with a solution to the problem. Specifically, a blockchain-based decentralized public ledger and a set of consensus algorithms have been developed to establish a reasonable recognition system for the UGC sector—which enables automatic value distribution by means of specific algorithms and according to users' ratings. 1.2 Development direction In addition to content rating and power allocation, YOYOW also makes other creative attempts. In structural terms, YOYOW is not simply a textual content-based platform; instead, it is a blockchain- based decentralized public network that achieves content production-oriented contribution assessment and equity stake allocation using the Graphene toolkit technology. Blockchain is a decentralized value network and YOYOW is expected to become a public blockchain network centering on content rating and attract numerous third-party developers and manufacturers to build up different content-oriented recognition platforms based on YOYOW. During the early stage, YOYOW will provide comprehensive assistance to platform builders if necessary. YOYO token is the only basic token in circulation in YOYOW network. Therefore, it is applied to rating weight and returns in different content platforms. Meanwhile, according to the medium- term development plan, YOYOW network will allow content community platforms to release their own smart tokens on the basis of YOYO token. 6

The advertising system plays an important role in stimulating token circulation in YOYOW network, with which, merchants may publicize their commodities and services by launching campaigns while platform builders can achieve good returns. As specified in the medium-term development plan, YOYOW network will be provided with a self-service advertising platform. 7

Chapter 2 Technical Details 2.1 Use of token YOYO token, as the basic system token, can be used to: 1. Give a particular weight of the content for rating; 2. Apply to be a witness with a specified amount of YOYO tokens as collateral; 3. Apply to be a platform with a specified amount of YOYO tokens as collateral; 4. Redeem certain services; 5. Act as a medium for value transmission. 2.2 Platform model YOYOW is mainly composed of five layers: The bottom layer consists of a modified Graphene toolkit to provide underlying blockchain services, such as block format, consensus algorithm, network, database, user and permission management services. The Graphene toolkit is a bottom layer built on blockchain technology that features its high availability, excellent performance and low latency and allows fast transaction confirmation at 8

the average speed of 1.5s and enables efficient multi-transaction processing (3,300 transactions per second). YOYOW Core is the core layer in charge of the core business logics, such as rating logic implementation, permission and login management, rewards distribution algorithms, community platforms and the advertising system. The universal application programming interface (UAPI) provides third-party developers with APIs for content production, rating and user management so that any platforms with development capabilities can directly use these APIs to carry out in-depth development. Software development kits (SDKs), plug-ins, sample applications and development documentation offer assistance to developers and users who have built up their own content platforms. Particularly, users can employ a series of plug-ins to directly integrate YOYOW network on forums, blogs and CMS. Content platforms based on YOYOW network are on the top. Any platforms theming on texts, videos, images, audios and live broadcast can be provided with the corresponding content- oriented recognition platforms powered by YOYOW network. 9

2.3 User roles Users Users can publish, repost, comment, award and grade content on content platforms. At the same time, the core of a delegated proof-of-stake consensus mechanism lies in polling and thus every user holding the token of a system can participate in the poll. The polling mechanism allows users to elect committee members and witnesses and express their opinions about relevant issues concerning the platform's development—which lay foundations for the establishment of an autonomous community. Except for participation in polling, users may authorize other trustworthy accounts to perform their polling. Committee The Committee oversees the management of YOYOW network. Committee members are elected by users and entitled to bring forward proposals and decide on resolutions. One of the Committee's major responsibilities is adjusting variable system parameters if necessary, and these parameters include: Token-consumption-related parameters: Token required for each transaction; Content rating-related parameters: Max. cumulative coin days, max. rating weight basal factors, daily award budgets; Authentication delegation-related parameters: Token required for any third-party content 10

platforms implementing to the network; Block generation-related parameters: Block generation intervals and awards; Meanwhile, matters concerning the Committee's members will be decided by other participants. Authorized registrars Authorized registrars are appointed by the Committee. Unlike BitShares or Steem, one must complete registration procedures with an authorized registrar to open an account in YOYOW network. Additionally, the said authorized registrar is entitled to grant/withdraw such account holder's right of posting anything on platforms and verify/take back the account name (alias). If any authorized registrars have been dismissed by the Committee, all accounts opened with such authorized registrars will be taken over by other authorized registrars. Accordingly, the corresponding rights and obligations will be transferred at the same time. Witnesses Witnesses of YOYOW system are responsible for collecting the broadcast transactions during network operation and pack them into blocks. They are in a position as that of block producers(miners) in the Bitcoin network, which employs the proof-of-work (POW) system and the hashrate-dependent betting method to determine which block producer should undertake a new task of block generation. In contrast, YOYOW network is built on the DPOS mechanism. Thus, the Committee is in charge of determining the number of witnesses by polling while users are responsible for the selection of witnesses. The selected active witnesses are required to pack 11

transactions and produce blocks in order. After each round of block production, the witnesses will be rearranged randomly to proceed to the next round of block generation. Because witnesses are responsible for processing transactions and maintaining the network, they will be given YOYO tokens reciporcally according to the processed transactions. In YOYOW network, an user may be put to a poll to be a witness or apply for the position by submitting a specified amount of YOYO tokens. Platforms Platforms refer to service providers in YOYOW network that provide content storage, user interaction and authorized login services. Any third parties may register as platforms by contributing a specified amount of YOYO tokens. At the same time, the Committee is entitled to revoke such registrations and function as a monitoring authority provided that the said platforms have violated the community consensus. Users can authorize any platforms via YOYOW wallet to perform their authentication privileges, which enables cross-site login, single sign-on, content rating, publication and comment, etc. Yet, because it is a delegated authentication with limited access permission, the authorized platforms are restricted to execute any key operations. Besides, these platforms have no access to users' keys, which ensures security and maintains system openness at the same time. Users may cancel the authorization anytime. 12

Content platforms will be proportionally recognized with interests and advertising-derived value by the content-oriented value platform so that they can be motivated to keep providing high- quality service for users. YOYOW network itself does not store any content but the hash values of content. On the other hand, content platforms achieve recognition by sharing the content produced by their users. Considering that the cost of storage equipment, for the moment, is extremely low, we expect the content platforms to provide users with general content storage service for free or at an affordable price. For those demanding distributed content storage, plenty of backup platforms that provide synchronization/backup services are available. Users can entrust content with multiple backup platforms by giving them YOYO tokens and the corresponding content will be placed in other decentralized content storage blockchain networks as backup data (e.g., storing the content in Sia or IPFS network). Because the hash values of the entrusted content have already been recorded in YOYOW network, the content cannot be altered by any platforms without being noticed. In addition to content platforms, YOYOW network will also set up other content-oriented platforms, such as community platforms, content aggregation platforms, copyright protection platforms, that support in-depth development via UAPI powered by YOYOW network. 2.4 Polling and value system The POT (Proof of Taste) content rating algorithm based on the principle of value distribution dependent on net positive rating weight is applied to YOYOW network. 13

Polling weight and coin days Content ratings can be divided into positive and negative ones, with the former on a scale of 0 to 5 and the latter of -5 to 0. Users consume coin days in content rating Assumed that an account holds a specific amount of YOYO tokens, it starts to accumulate coin days over time until the maximum value MAX_ACCUMULATE_DAY * YOYO_BALANCE, where MAX_ACCUMULATE_DAY denotes a system parameter and YOYO_BALANCE represents the amount of YOYO tokens held by the account. Content rating requires consumption of coin days, which involves another parameter-single rating consumption factor, i.e., POLLING_CONSUM_FACTOR, which is determined by the account user independently and employed to specify the proportion of consumed coin days per content rating that is expressed by POLLING_CONSUME_FACTOR * YOYO_BALANCE. If MAX_ACCUMULATE_DAY = 7 and POLLING_CONSUME_FACTOR = 0.2, the user can carry out effective ratings for five times with the accumulated coin days per day. However, there is an upper limit of daily rating: every user is only permitted to make ratings for no more than 35 times a day (excluding ineffective ratings) regardless of the accumulated coin days. Different criteria are applied to the consumption of coin days of positive and negative ratings and the Committee is responsible for adjusting the proportions appropriately through system parameters. 14

The concept of coin days is introduced in order to: 1. Prevent active users from occupying an excessive polling weight; 2. Avoid large-scale polling weight acquisition by spam users. The polling weight of a single effective rating no matter positive or negative can be written as RATING_FACTORlg[int(CONSUMED_YOYODAYS)], where CONSUMED_YOYODAYS means the consumed coin days of such rating and RATING_FACTOR represents a system parameter under control of the Committee, which is used for adjusting the effect of coin-day holdings on the polling weight. If RATING_FACTOR = 1, all effective ratings are completely consistent with the generated polling weight and not correlated with the consumed coin days. If RATING_FACTOR = 10, the polling weight is in positive correlations with the consumed coin days. According to our plan on the initial YOYOW network, RATING_FACTOR = 2, i.e., the polling weight will be doubled by consuming 10x coin days. On this basis, polling weight remains positively correlated with the consumed coin days, which prevents influential accounts from exerting decisive impacts on content polling weight. Bonus points are also derived from coin days to offset transfer charges. When paying transaction fees, users may spend their bonus points. Content curators To encourage content curators to dig quality content, users first “like” any new content that has 15

been published for only a few days will be proportionally recognized. With the content investment model being introduced to YOYOW network, the values derived from content will be distributed to content authors and investors. Rating period The system parameter RATING_EXPIRATION_DAYS has defined a valid period of rating. If RATING_EXPIRATION_DAYS = 30, ratings within 30 days from publication will be included in value distribution; on the 30th day, the system will calculate the content author's reciporcal value, which can be expressed by: REWARD[x] = DAILY_RATING_BUDGET *POLLING_WEIGHT[x]/ΣPOLLING_WEIGHT[x] Where POLLING_WEIGHT[x] represents the net polling weight of content (POLLING_WEIGHT[x] ≥ 0). The formula indicates that upon expiration of the rating period, the value distribution is subject to the net polling weight of content. The production of high-quality content is in a virtuous circle. In terms of Zhihu's operation model, high-quality questions are likely to bring high-quality answers. Hence, it is necessary to recognize the content that gives rise to more high-quality content. In YOYOW network, part of the reciprocal value of content will be distributed to its parent content in a specific proportion determined by the system parameter PARENT_REFUND_RATIO. Prosecution period Upon expiration of the rating period, the reciprocal value derived from content has to undergo a lockup period before being distributed to the corresponding authors in case of infringement. 16

At the same time, to prevent malicious authors from publishing any infringement or rule-violating content, the Committee is entitled to freeze the said content. Frozen content is not available for rating and thus the content authors will gain no benefits from such content. AWARD Except for the above-mentioned benefits depending on content rating, users may directly award content authors with YOYO tokens. 2.5 Authentication system and login methods In YOYOW network, every user has a unique identification number—YOYO number that allows him/her to enjoy diverse services provided by different platforms. Additionally, based on the problems reflected by the authentication management systems of BitShares and Steem, YOYOW has modified the authentication system built on Graphene toolkit and introduced the delegated authentication with limited access permission mechanism according to the principle of least privilege. Users may authorize any platforms to exercise their authentication privilege whereas the authorized platforms cannot access users' keys in the process so as to maintain a high level of security and better user experience. Moreover, the secure cross- site login and SSO techniques are applied to the platforms, making it a cluster of platforms that have diverse styles and offer distinct user experience. 17

2.5.1 Authentication system YOYOW provides four levels of keys having different privileges: Owner key: The owner key is at the highest level and is used for management of all privileges of an account. Active key: The active key is designed for transfer and loose change management. Secondary key: The secondary key controls the operation access and loose change of a content platform. Remark key: The remark key provides access to transaction remarks. In case of login via mobile devices, users are required to use their limited access permission keys to maintain account security. The owner key has control over all privileges and allows its user to reset other limited access permission keys. Authentication privilege: The authentication privilege is independent of the key system to enhance security and improve platform user experience. 2.5.2 OAuth cross-site login OAuth is an open standard for access delegation. It specifies a process for users to authorize third- party access to specific data hosted by other service providers with access tokens. A platform can realize cross-site login or binding functions (with WeChat, Twitter, Facebook, Alipay and Weibo accounts) as long as it adopts the open standard and YOYOW's authentication delegation mechanism. The detailed procedure is as follows: 18

1. Users authorize a login site via YOYOW wallet; 2.The login site jumps to the OAuth destination site (e.g., WeChat, Twitter, Alipay) and requests authentication delegation. 3. The two-way binding is completed upon authentication delegation of the OAuth destination site; 4. To login, users may use access tokens provided by the OAuth destination site. 2.5.3 Single sign-on (SSO) YOYOW wallet has a platform list that specifies the authentication delegation mechanism, following which, users may directly select any services provided by the platforms on the list after the first time signing on YOYOW wallet. No login process is required and YOYOW wallet will automatically jump to the selected platform in a login status. 2.6 Content publication, repost and comment Publication YOYOW network does not store any content (the storage task is undertaken by platforms in the network), and yet it records the hash values of content as the unique basis for authentication. To minimize the risk of potential hash collision, YOYOW employs multiple hash algorithms to store hash values in a head-to-tail order. The storage structure is as follows: Result of hash algorithm 1 + result of hash algorithm 2 + result of hash algorithm 3 + result of hash algorithm N.... 19

Repost In YOYOW network, original authors are provided with repost permission settings. Comment Users can make comments on content displayed by platforms. Considering that users' comments are also valuable assets, comments in YOYOW network are also available for rating and recognition. 2.7 Content value distribution The content value distribution function is another creative attempt of YOYOW network. With this function, users can support content produced by other users and gain value while content producers (whose content has attracted support) can receive benefits. Content producers, when publishing any content, can specify the support model, alienable value and support deadline. During the support period, content supporters may give support to any content and the corresponding content producers will be granted reciprocal value. After the lockup period, the value generated by the content will be automatically allocated to the content producers and supporters according to the specifications specified in their smart contracts. 2.8 Community platforms and the corresponding smart token In YOYOW network, community platform is defined as a special platform similar to Xiaomiquan. Users are allowed to create their private community platforms and require other users to submit a specified amount of YOYO tokens or obtain the platform administrators' approval when applying for membership of their community platforms. Meanwhile, community platform administrators 20

have the right to set the internal value distribution ratios and establish internal pools for their platforms. YOYOW advocates human resources, economic and content autonomy of community platforms. Except for the features above, community platforms are also allowed to release their own smart tokens. These smart tokens are endorsed by the values derived from content rating and recognition for high-quality content produced by platform members. For instance, a "community platform A" may issue its own smart token “community platform A token” and specify that 20% of the value obtained by all members of the “community platform A” will be evenly distributed to the“community platform A token” holders. Members of the “community platform A” can obtain the initial smart token. The rest 80% of the values will be distributed according to WORD of the community platform, which is an automated value distribution mechanism subject to the automatic implementation of the smart contract. WORD is designed as a type of untransferable and intradable values and distributed to community platform members in YOYOW network. WORD holders are entitled to decide the content-oriented recognition measures of their community platform. When a member of the “community platform A” publishes content, the hash values of the content and other relevant data will be recorded in YOYOW's blockchain at the same time. When other members of the “community platform A” read and assess the content, the rating data will also be recorded in YOYOW's blockchain. In the end, the distributable values for participants will be determined by means of the POT algorithm. Based on the settings of the “community platform A”, such values can be represented by the YOYO tokens owned by the “community platform A” or other values issued by the platform via YOYOW network. The “community platform A” can determine the WORD distribution and the proportion of value 21

distribution to content producers. 2.9 Adverting system The advertising system is established to increase the flexibility of YOYO tokens and strengthen the value of platforms. Generally, online advertisements are calculated by time and space. However, there are also other calculating models, such as “click rate-dependent” and “pageview-dependent” ones. Considering the high incidence of click rate/pageview fraud and the difficulty of employment of Oracle and other mechanisms to support the blockchain system, during the early stage, YOYOW will not introduce or develop any click rate/pageview-dependent calculating models. Instead, the commonly used “time and space-dependent” calculating method will be introduced to YOYOW network. BuySellAds.com is a globally leading online advertising market that mainly engages in selling time- dependent online advertising space on behalf of website owners. YOYOW intends to adopt a similar model and more specifically, build an advertising platform in the YOYOW wallet. In the advertising platform, there will be diverse choices of advertising space and calculating standards of different platforms. Meanwhile, the performance and historical data (e.g., values, quantity of content) of these platforms will be disclosed for users' reference. A user may directly rent advertising space with YOYO tokens and provide advertising placement with approval of the corresponding platform. The duration and position of the advertisement are subject to the smart contract by and between the user and the platform. 22

Chapter 3 Application Contexts 3.1 Social media platforms With the content-oriented value and recognition mechanisms provided by YOYOW network, a platform can establish social media platforms based on textual content like Steemit and further develop social networks as large as Twitter and Facebook. 3.2 Blog, encyclopedia and forum platforms Blog, encyclopedia and forum platforms still occupy considerable market shares, especially those built on blogs and encyclopedia that provide access for users to publish formal content in a textual format. Over decades, these content platforms have always been strongly dependent on their advertising clients and most of their users cannot obtain any returns. To solve these problems, YOYOW provides multiple plug-ins to directly introduce the content-oriented value and recognition mechanisms to these platforms. In this way, more values can be brought to content producers and platform builders. 3.3 Q&A platforms The Q&A platforms such as Zhihu and Quora have long been hindered by the liquidation problem, which can be solved by YOYOW's rating, value and recognition mechanisms. Compared to direct payments, it is more effective to motivate outstanding users with reasonable recognitions based on content rating and the users appear to show a greater conversion rate and a higher level of participation. 23

3.4 Traditional websites Advertising has been a major source of income for traditional websites while there are no incentive measures for the acquisition and cataloging departments of these websites. The content-oriented incentive and reward mechanisms provided by YOYOW platform can be applied to these traditional websites in order to motivate their acquisition and cataloging departments and increase their value . Besides, community platforms can be established to issue smart tokens and use these smart tokens to fairly distribute the value derived from the incentive and reward mechanisms to the acquisition and cataloging departments according to smart contracts. 3.5 VOD/live broadcast platforms Video platforms are faced with the problems about liquidating content and increasing profitability. Considering the characteristics of video websites, bandwidth and storage costs are heavy burdens to a web host and make it difficult to achieve profitability. Most typically, the world's largest video website YouTube is still in deficit. Video live broadcast and VOD websites can adopt YOYOW's content-oriented value and recognition mechanisms to bring more values to content producers and their platforms. 3.6 Content aggregation platforms Content aggregation platforms can make use of YOYOW's embedded repost function to achieve content aggregation similar to that of Tiantian Toutiao. Additionally, automated programs can be employed to select appropriate content and push the content to target readers. With the repost function, authors and reposting users can gain benefits from the rating and recognition 24

mechanisms. 3.7 Witness and copyright protection service Because the unique hash values of content recorded by YOYOW cannot be altered, platforms can collaborate with legal institutions to provide content witness and copyright protection service. 25

Chapter 4 Ecosystem 4.1 YOYOW SDKs YOYOW SDKs provide developers and platforms with advanced development kits, such as robots interfaces, real-time content import, historical content import, user management and cross-site login. 4.2 WordPress, phpBB, Joomla, MediaWiki and Discuz plug-ins As far as we know, there are plenty of web hosts and users who lack development capabilities expecting to participate in the development of YOYOW network. To satisfy their needs, our team, according to the current development plan, will develop a series of plug-ins based on the existing CMS, blog, encyclopedia, forum programs. By then, users can access YOYOW network by installing these plug-ins to their websites. 4.3 Development support and ecosystem construction In addition to the development interfaces and SDKs, our team will retain a specific amount of community promotion fund for the purpose of publicity and development support. Specifically, the community promotion fund will be used for holding regular developer meetings, activities and development contests in order to cultivate more developers for YOYOW. We will also establish a developer community where developers can share development resources and exchange ideas. 26