Chinese internet search giant Baidu has launched a proprietary token to incentivize users of its new blockchain-based photo validating and sharing service.
The firm announced on Wednesday during a press conference in Beijing that the photo sharing platform – called Totem – is now live and features a dedicated token called Totem Point, according to a local news report. The launch marks the first blockchain application to be released on Baidu's private XuperChain network.
Baidu said it will initially generate 4 billion Totem tokens with an annual inflation rate of 4.5 percent to encourage individuals and institutions to submit original photographs.
According to a white paper also revealed today, the quantity of tokens awarded will depend on the validation process, including the quantity and quality of images submitted by a user.
Lees hier verder
Reactie plaatsen
Reacties