The core of FACTS is to construct a "consensus mechanism" based on FACTS Graph and based on the FACTS Graph. The design of this mechanism adhering to the "neutrality" and "verifiable" of the real content concept, Proof of FACTS (PoF) is based on the facts to reach consensus on the contents of the public chain. Truthful and authentic content needs to use reasonable factual content. The FACTS Index is the core parameter that reflects the true and credible content of the content, allowing users to see at a glance.In other words, FACTS is an incentive measure to ensure high-quality output of real content, to solve the problem of the proliferation of false content on the Internet, lack of creative motivation, and low dissemination efficiency.
The FACTS Token (FACTS), which has a total of 14.96 billion credits. The tokens that user reward pool will issue in the first year is 10% of the total amount of the user reward pool. After that, the user reward pool will issue 10% of its balance (maximum total additional circulation - issued total circulation) every year.
By using of the content incentive and token distribution mechanism of FACTS, the platform may construct a social media platform similar to Steemit , which focuses on the theme of text contents. It can even further build social networks liking Twitter and Facebook. At the same time, it can use the content pool of FACTS to provide more genuine and effective content basis for the contents on the social media platforms. These contents will also provide more trustful and high quality content precipitation for the FACTS content pool.b) Content Platforms of Blog, Encyclopedia and Forum
The platforms of blog , Encyclopedia and forum naturally account for a high proportion of network flow. Especially, the blog and encyclopedia content platforms are the major approaches for ordinary users to produce serious contents. Over the years, these platforms have relied on advertising and the majority of users cannot obtain benefits from these platforms. By introducing FACTS content incentive and token distribution mechanism into these platforms, more revenue can be brought to the content producing users and platform builders. The content pool of FACTS provides a more trustful and effective content basis for the contents of the platforms and these contents will also provide more trustful and high quality content precipitation for the FACTS content pool.FACTS foundation will form strategic partnership with baike.com , the world’s largest online encyclopedia platform with 12 million contributors and 17 million wiki articles. With strong support on product, community operations and technology from baike.com, the world’s first and largest Chinese FACTS Graph can be built up in a prompt manner.c) Q&A Content Platforms
It is always a question for Q&A communities like Quora and Zhihu.com to monetize on its contents. By the evaluation and token distribution mechanism of FACTS, excellent contributors can obtain reasonable rewards. Compared with direct payment, the incentive based on content evaluation can get higher conversion rate and higher degree of participation. Use the content pool of FACTS to provide more trustful and effective content basis for the contents of the platforms and these contents will also provide more trustful and high quality content precipitation for the FACTS content pool.d) News and Information Platforms
The traditional portal sites have been using advertising as a major source of revenue and the website's editorial partners lack the proper incentive approaches . The traditional portal websites not only can provide incentive channels for the collection agencies by introducing the content incentive mechanism of the FACTS platform and increase the revenue for the website owners. In the meanwhile, it can also establish community platforms or issue community platform smart contract tokens. The smart contract tokens may distribute the revenue that comes from the content incentive and reward mechanism to every link of the collecting and editing agency by smart contracts fairly. Use the content pool of FACTS to provide more trustful and effective content basis for the contents of the platforms and these contents will also provide more trustful and high quality content precipitation for the FACTS content pool. FACTS foundation will form strategic partnership with Shiliu Blockchain Financials, the emerging vertical media platform founded by a most professional team that has been working on financial media industry for more than 15 years. This can build up a solid FACTS Graph network in blockchain industre) Content Aggregation Platforms
The platforms may use the reference function of FACTS to provide the content aggregation function similar to toutiao.com . The platform may use automatic program to select proper contents for pushing to the readers. Through reproduction function, both the authors and the reproducers can be evaluated and rewarded. Use the content pool of FACTS to provide more trustful and effective content basis for the contents of the platforms and these contents will also provide more trustful and high quality content precipitation for the FACTS content pool.f) Industry special information Retrieval and Reference Service
The writing of papers and patents need a lot of references data and references. Because the content pool of FACTS has a mass of trustful contents that are structured FACTS Graph of interconnected network, the corresponding contents can be retrieved rapidly. Use the content pool of FACTS to provide more trustful and effective content basis for the contents of the platforms and these contents will also provide more trustful and high quality content precipitation for the FACTS content pool.g) Basic Content Supplier Service for AI industry
In the era of rapid development of AI, a lot of structured facts are needed for AI to analyze and interpret to generate more values . The contents in the FACTS Pool and FACTS Graph will be the important content supplier for AI. A large amount of contents can be structured output and these contents can be combined with AI technology to form more valuable contents to supplement into the FACTS.
The content review panel is the content management agency of FACTS. Members of the content review panel are produced in accordance with the principles of fairness and transparency. Each content review panel member has a lower limit. Number of people required. There are several content review panels on an active content platform. Each piece of content generated in a simultaneous work network requires a fact review vote of the content review panel to determine whether it can be marked as a FACTS content.Eligibility criteria and voting principles:
1、 Users who are active within a certain period of time hold a certain number of FACTS Tokens and willing to pledge a certain FACTS Tokens before voting (users are active within a certain period of time refer to users who take part in content production, review and participate other interactions);
2、 The voting members of content review panel are drawn at random from user pool continuously until a certain number of people among them have completed the judgment. At the same time, refer to the professional domain matching relationship between the user and the content being voted.If the corresponding number of votes has not been completed within the specified time, it will continue to drawn candidates from the user pool;
3、 The content review panel obtains FACTS Tokens. The content review panel follows their rules to vote. The party with the voting proportion of more than 60% will obtain the tokens. In the judging period, if they are reported by users and the report is passed by new term content review panel, then their original token rewards will be deducted and these tokens will be given to another party.
The pledged FACTS Tokens cannot be transferred or segmented. Only after the party exits the content review panel and all voting contents that this party involves have gone through the appeal period, the FACTS Tokens can be unfrozen.If the party needs enforcement unfrozen, then among rewards that this party has obtained by taking part in voting, the corresponding review rewards in appeal period will be destroyed.
A piece of content will obtain rewards after the expiry of evaluation period. In order to have enough time to identify infringement, trustfulness and other behaviors, the authors shall obtain the rewards after a certain period of locking-up.
In order to prevent malicious authors from releasing infringement or violation contents, users can launch a new term content review panel by initiating content reporting complaints. This kind of contents can be frozen according to the voting result of content review panel , which the frozen contents will not be able to continue to receive evaluation and the authors will fail to obtain the revenue that can be obtained under normal conditions as well. During the appeal period, content authors also have the right for arbitration and appeal, which ensures that all users are able to be treated fairly.
Time is one of the most important indexes for verifying content trustfulness, too. FACTS adds a relatively long appeal period to ensure there are sufficient evidences to prove the trustfulness of contents before they enter the content pool.
This project will develop a set of content public chains based on the existing blockchain mature public chain and distributed file storage projects. The entire project will be divided into three levels: the base chain layer, the transaction layer, the content management layer, the protocol layer, and the application layer. The requirements for each level of the system's infrastructure, content management, and content applications will be clearly defined.
At the infrastructure level, core operations such as currency trading, content storage and packaging of blockchain cores will be established.
At the level of content management, FACTS Graph and FACTS Index will be established based on artificial intelligence algorithms, and high-quality content-driven logic will be established using Proof of FACTS (PoF).
At the content use level, various business systems and content ecological applications will be implemented to ensure the flow of content throughout the ecosystem.
This project will issue token FACTS.
FACTS Token Address: 0x09cb097356fd053f8544abfa2c8a9d4fb2200d62
Smart contract address：view in etherscan.io
This is an Ethereum smart contract token, and mainstream wallet applications support this token transaction.