LikeCoin is a protocol for decentralized publishing and a framework for inter-chain networking. The platform is essentially an application-specific blockchain that connects media with Web3. Web3 is a decentralized online ecosystem built upon the blockchain.
LikeCoin is a Decentralized Publishing Infrastructure that enables content ownership, authenticity, and provenance. LikeCoin provides an immutable digital content repository. The content creators can use LikeCoin's ISCN (International Standard Content Number) protocol to record the data and guarantee its integrity.
According to its whitepaper, the LikeCoin token is usually called LikeCoin in short, and it is the de facto standard in Liker Land. Liker Land is the user interface of its token, where users can create, collect, and read content and bridge the gap between readers and content creators. The LikeCoin token is used for the following purposes:
Staking LikeCoin rewards users with extra rewards similar to receiving interest from a bank account. Furthermore, users give voting power to the validator to stake and vote for business proposals themselves.
The LikeCoin token is not only a reward for creators and Content Jockeys, but it is also the governing token for the decentralized autonomous organization (DAO), namely the LikeCoin DAO. A decentralized Autonomous Organization (DAO) automates decision-making processes and facilitates cryptocurrency transactions.
LikeCoin token holders participate in liquid democracy by delegating their tokens to validators they trust and freely switching them without a fixed term. The DAO must pass a corresponding proposal on default Content Jockeys, inflation rates, and protocol updates.
LikeCoin DAO is a community-owned network where LIKE holders make decisions collectively through liquid democracy. LIKE holders can build applications, publish content and participate in governance.
LikeCoin's decentralized publication framework (ISCN) is easily integrated with existing media platforms and connects with other blockchains. Content creators can quickly produce, manage and own native content for the web 3.
