August 9th, 2017 at 10:51 pm UTC · 2 min read
onG.Social is thrilled to announce the launch of their initial coin offering (ICO) set forth to provide consumers with a blockchain based social media dashboard across platforms while helping to reduce fraudulent news.
An IBM-incubated startup developing on dual blockchain technology, onG.Social seeks to provide ease of control for both central and decentralized social media networks, while supporting digital interaction with cryptocurrency-based rewards.
The user experience will consist of the dashboard itself, which connects to the API of numerous social media platforms including Facebook, G+, LinkedIn and Youtube. Content can be created using onG and then automatically posted to other social accounts with the dashboard acting as the control center, offering powerful management tools.
Users see all existing social feeds via stream aggregation and can thereby distribute content simply; without having to completely abandon the existing systems already in place. As a result, onG will allow people to connect and post not just to standard social networks, but by moving to the blockchain, they will also include API’s to decentralized networks such as Steemit, Akasha, Golem, MaidSafe, and others.
The team at onG believes the crux of the platform is the technology’s reliance on a weighted compensation algorithm called Gravity™ that measures and rewards community-verified truth and overall global impact for each post made to social media. This allows for contributor news to be rewarded with cryptocurrency based on widespread community checked standards.
onG built its own coin to ERC20 standards, enabling them to tinker with the algorithm that distributes the token without compromising the security of the platform. Utilizing two blockchains (Ethereum and Waves) helps to establish stability and eliminate redundancy during heavy network loads.
The onG team consists of a combination of seasoned tech executives and ex-alum of the UFC.
About onG.Social
onG.social is a block chain based social dashboard that provides ease of control for both central and decentralized social media networks supporting community building and social interaction with cryptocurrency rewards.