U Network is a revolutionary content value based prediction market platform designed to solve the mismatch between content creation and discovery. It employs economic and free-market principles to power a robust pricing and valuation system for user-generated content (UGC).
We envision the backbone of U Network as a content-oriented community that provides users with high-quality information curated from the excessive amounts of global data.
The Problem
User-generated content (UGC) platforms account for four of the top ten most popular websites on the internet. However, all existing websites face the same three problems that U Network would solve:
1.Discovery of high-quality content
a. Traditional UGC platforms act as the centralized judge of content rating
b. Moderators of such platforms hold all dictating power
c. Ratings are subjective and prone to human error
2. Distribution of rewards
a. Most existing UGC platforms generate revenue from the content created by their users while the content creators receive nothing for their efforts
b. There is a lack of incentive for users to create quality content that requires a high level of effort
3. Centralized content storage
a. Existing UGC platforms store and own all content uploaded by their users
b. Risk of hardware failure or malicious attacks which could wipe out their database and destroy their content
The Solutions
U Network intends to construct a decentralized UGC ecosystem driven by fairness and value. By implementing a decentralized prediction market to access the quality of content, U Network provides an efficient way to identify the most useful information and avoid prejudice.
The network would also implement proper reward allocations through advanced content pricing algorithms, ultimately incentivizing the community intrinsically to produce higher quality content on our platform.
The generated content would be stored using the InterPlanetary File System (IPFS) protocol, a persistent internet file transfer protocol or the Genaro Network, a fault-tolerant ad tamper-resistant permanent storage protocol.
U Network Use Cases
In addition to meeting market needs, U Network also has plans to scale to achieve the following use cases:
- Platforms for Paid Digital Literature — U Network’s rating and rewarding system will provide top-selling authors with long-term incentives and reasonable returns. This will encourage authors to maintain quality following initial release and allow for greater stability in their livelihood.
- Content Aggregation Platform — With the robust pricing and rating system developed by U Network, quality content can be discovered easily and fake news can be filtered out before they reach mass market audience.
- Q&A Content Platform — In communities such as Quora and Zhihu, authors have no direct means to convert knowledge into monetary profit. However, U Network’s native rating and reward incentive mechanism will provide authors with proportional returns for their work while preventing internet trolling content.
- Integration into Existing Media — U Network will allow transplanting of its rating and reward mechanism into existing social media. This would benefit users in the original platform while increasing market share and community size for U Network.
