Mediaprotocol.org is an open architecture that creates a multi-directional economy, where publishers, creators, and content Consumers exchange content, data, and incentives, including financial incentives, directly. It enables publishers to directly incentivize the consumption of content using MEDIA Tokens, the protocol’s accompanying ERC20 token, and allows consumers to be compensated for their content interactions and the preference data they generate. All actors involved in the creation and consumption of content recognize the important role that audiences play in the reception, perception, and distribution of any given piece of content. Existing economic
models, however, cannot compensate audiences for the role they play.
Through Mediaprotocol.org, a direct two-way flow of tokens from publisher to consumer, and vice versa remedies this and facilitates payment for paywalled content, tipping and the ability for content promoters to reward creators. MEDIA Protocol is the foundation for an ecosystem where publishers, creators and any variety of content distribution platform can interact directly with consumers to further a more transparent, efficient and enjoyable online content experience for everyone.
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To bootstrap initial usage of MEDIA Protocol and provide a reference to assist other developers to create their own apps,Mediaprotocol.org have created a prototype app called CryptoCatnip. CryptoCatnip is a news and media aggregator for the crypto world, providing an accessible and friendly user experience where content interactions are incentivized and tracked through the blockchain. It will tap into machine learning algorithms using analytics based on the blockchain data to make personalized recommendations and feed each consumer the most relevant content.
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Mediaprotocol.org enables two-way token interactions between content promoters and consumers. The protocol also provides the opportunity for affiliate apps (generally, third-party apps and content distribution platforms) to take a share of transactions they facilitate. The reward algorithm is defined in a way that it represents the impact to the publisher/promoter of the specific interaction. Figure 3 illustrates the token flow between content publishers, consumers, promoters, and distributors.
Any URL (and later IPFS address or other distributed protocol for sharing content based on blockchain technology) can be registered against an Ethereum account and form part of a transaction between content publishers, promoters, distributors, and consumers. The content publisher can promote their content using the protocol, as well as receive paywall payments and discretionary tips from users. The publisher of the URL can assign an amount from their current balance of Mediaprotocol.org tokens to promote the URL. These MEDIA Protocol tokens are used to reward content consumers that interact with the URL (as well as pay fees to affiliate distributors) through apps that interface with the smart contract.
All smart contract code will be an open source where it can be scrutinized for security issues, and Mediaprotocol.org will have the code thoroughly audited by an expert third party. They will go through a testing period on the Ethereum test network before going into production, look at implementing circuit breakers within the contracts to allow it to be paused in case of any issues, and keep the code as clear, clean and simple as possible.Mediaprotocol.org team has rich experience writing secure code and will stay up-to-date with Ethereum security vulnerabilities and respond promptly as required. They are also considering a bug bounty program to encourage and reward those who can find and report to us any security issues within the smart contracts.
The era of blind consumption, perpetuated by the few, is over; consumers desire more choice, higher quality, and greater relevance. Centralised content distribution platforms do not fit this new paradigm. In decentralization, with MEDIA Protocol, there is unlimited opportunity for brands, publishers, distributors, and consumers to create new, more equitable and transparent relationships. Consumers will be rewarded for the data they generate, and the role they play in reviewing and assigning content’s value, and promoters will be able to leverage accurate and
actionable data to achieve greater intimacy and Tribe market penetration.
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