Overview of Smoke
The SMOKE network is a decentralized social media platform aimed at cannabis users. They are targeting cannabis users who potentially face legal trouble on other sites when they are talking about pot. By providing helpful information, such as strain and dispensaries reviews, the network aims to help cannabis users and provide a safe and helpful resource for cannabis users.
What is the purpose of the ICO?
Now aside from the technology aspect of this platform, the main point is to make a place to talk about cannabis and its users. It will do this by having three main cannabis-focused things.
First, a social media platform, Which will be basically an Instagram pot.It will be a place for people to discuss cannabis and find other users like them.
Second, strain reviews.This can be used to tell other people how good or bad a strain of marijuana is. These reviews can also be upvoted or downvoted, and you can get rewards for having a good review.
The final part of the platform is dispensary reviews. This will have a list of dispensaries and have a map of where they are. The first few dispensaries will manually put in by the creators of the SMOKE network, but then anyone with a certain amount of SMOKE will be able to add to the map.
Dispensary owners will also be able to claim their dispensaries and have theirs show up on the map. Once all of these dispensaries are on the map, people can start to review then. This will allow a lot of cannabis business to flourish because of all of the information that is available from what is basically yelp for weed.
Picture from smoke testnet (if you are a Steem user this will be familiar)
Typically, pot smokers face similar problems as other social media users face, but considering cannabis is illegal in some states, they face the added problem of censorship or arrest. In addition to this problem, the SMOKE network aims to fix this problem along with the common problems, such as useless content, little to no rewards, annoying advertisements, greedy companies, and no privacy.
The SMOKE network platform will be censorship resistant because it will be based on a blockchain which by their very nature makes it very difficult to delete content.
If you put something into a blockchain, because it has been distributed to everyone running that application, there is no practical way to delete it. This creates a system where once you put something on their network it will never come down, thereby giving everyone a voice that cannot be silenced.
In addition, the SMOKE network has a unique approach for rewarding users for their time and effort. This network pays their users for the time and effort they put into adding to the community. They also reward people who upvote things and build the network in other ways, like posting or commenting on posts. This helps incentivize people to add to the community and make high-quality content.
Smoke Network – Owned by the Users
This sense of community carries on in their ownership model. Instead of being owned by an autonomous company that can make decisions that impact the users, the SMOKE network will be owned by its users. Everyone who owns a SMOKE coin owns a part of the blockchain.
This allows the user to decide things, such as advertising options and new products. Users/owners also reap the benefit or consequences of this. For example, if they vote to not allow someone to mine, then they will stop that person from getting rewards; however, they will also lose that processing power for the blockchain.
Eliminating Intrusive Advertisements from the Platform
The fourth problem the SMOKE network addresses are the intrusive and annoying advertisement common online. The network will have advertisements, but they will be unobtrusive and will pay the people who made the post, not big companies like Facebook or Google. These ads can be bought directly with SMOKE, the native currency of the SMOKE network.
Privacy & Anonymity of Users
The final problem they are trying to solve involves privacy, involving data mining and information gathering. This privacy is especially important to people who SMOKE cannabis because they might not want their family to know that they smoke pot, or pot might be illegal where they live.
The SMOKE network allows anyone to post or comment on their platform, but they must do so with a pseudonym. There will be no special benefits to people who choose to put in their information. This allows for complete anonymity and privacy.
Proof of Stake
This is all going to be on a blockchain, but that blockchain has to be mined. The creators of SMOKE did not want people to use a lot of electricity and money to mine the blockchain, as they do with proof of work, so they used a different way to mine. It is called designated proof of stake.
This means that only designated people will be able to mine the blockchain and get those rewards. This is where the rewards for adding to the community come in. The more you add to the community, the more you are allowed to mine.
This delegation process is a very good system for mining for multiple reasons. First, it is environmentally friendly because instead of wasting vast amounts of electricity on doing random calculations, they simply require you to add to the community and network; then they allow you to mine the network, which takes a much smaller amount of electricity.
Second, It is very scalable by comparison to proof of work because almost anyone can mine and support the network, and it also allows a lot to be processed through the blockchain. This means that if the blockchain grows a lot, then the miners will be able to effectively handle the new activity.
In proof of work models, it is actually the opposite of the work the computers need to do keeps getting harder. This makes it nearly impossible to support the blockchain and impossible to grow it.
Third, it has very fast transaction and running times because instead of having people compete for the right to mine the network there are hundreds of people simultaneously running the network together.
The final major bonus from this system is that it is more secure than the other proof of stake models. The reason it is more secure is due to the delegation process. In a normal proof of stake process, anyone can put up their money and be able to mine for the network.
This would allow someone with a lot of money to put it up for stake; then they would control the whole blockchain. This is called a 51% attack because it occurs when one user, or multiple users, control 51% of the mining; therefore, they can control all of the transactions. This is very bad.
The way normal proof of stake system prevents this is by making the amount of money you would need to do this very high. This still leaves the possibility for it to happen. In the delegated proof of stake process, people must actually add to the platform and do useful work to get the benefits. This removes almost all possibility of a 51% attack.
All of this mining will give you their native currency, SMOKE. This currency had two forms, powered and liquid. Liquid SMOKE is what people can use to do transactions and pay for things.
Liquid SMOKE is what you use to buy things on the network, such as advertising. Users can “Power up” this liquid SMOKE and get powered SMOKE. That is what users put up for the stake for the Designated proof of stake.
Powered SMOKE makes your upvotes and downvotes matter more and increases your reward for adding to the network by up to 15 percent.
The reason you get rewards for having powered SMOKE is that when it is “Powered up,” you are mining the blockchain and allowing the network to function.
To put it another way, adding to the social media platform is the delegation part of delegated proof of stake, but powered SMOKE is the stake part of the process.
Powered Smoke Drawbacks
The drawbacks of having powered SMOKE is that you can’t use it to pay for things or do transactions. It also takes a while to “un-power it” so that you can use it.
Also, all rewards will be paid in powered SMOKE, so it will require you to support the blockchain at least a little. However, for both powered and unpowered investments, you will get 15 percent interest on your investment.
The eventual goal of this is to have a social media where anyone can access to this large amount of information and community all around pot. They want a mobile app for this and to have a website,https://testnet.SMOKE.io/, or people to talk and share.
To sum this all up, SMOKE network wants to be a mutual aid society where everyone is rewarded for adding to the network. They also want to provide a wealth of information for cannabis users. They are making a censorship-resistant and community focused social media, a great use of the blockchain.