Soxax: Rewarding Decentralized Social Media Token Platform?
Soxax is a decentralized social media network that promises to pay you money for socializing. Find out how it works today in our review.
What Is Soxax?
Soxax, found online at Soxax.com, is a decentralized social network that emphasizes strong privacy protection and the ability to earn money while socializing. The more you engage with the platform, the more cryptocurrency you can earn.
The company calls its users “Soxains”. The Soxax whitepaper appeared online in March 2018. The website is currently accepting signups for users. The token sale for SOXAX tokens, meanwhile, is scheduled for April 2018.
What Problems Does Soxax Seek To Solve?
Soxax believes today’s social media ecosystem has a number of serious problems, including all of the following:
- Today’s social media networks are centralized, which means anyone has the power to modify, edit, or delete any registered account, abuse user data, and take other liberties.
- Data piracy is rampant on today’s social media platforms, and companies can collect your personal data then sell it to whomever they wish. There’s limited transparency over how user data is handled.
- Social media networks kill productivity. People are less productive when they spend significant amount of time on social media, but they still want to access social media. Companies are often forced to ban social media networks to boost employee productivity.
How Does Soxax Work?
Soxax will be based on a decentralized system. Users can leave a positive or negative review on any user account based on the good or bad reputation of that user. This allows a decentralized community to protect the network.
The platform is based on an independent blockchain technology. Soxax uses “proof of social / proof of activity” to reward its users. This means users make money while “socializing”: users who spend more time contributing social activities to the Soxax ecosystem will earn cryptocurrencies.
Specific activities that will be rewarded with Soxax dollars include content posting, content sharing, commenting, posting articles, adding friends, chatting, and liking content. You can also post, share, or write articles, then get paid based on the number of people who read your article, view your article, or spend time on your article.
Meanwhile, Soxax will protect user data by encrypting all user accounts with a private key. That user account can only be decrypted by the user’s password. In cases where the user loses his or her password, users can launch the change password option, which commands the encrypted key to reset, then uses your contact information to restore the password.
Soxax also seeks to boost productivity using “a sound notification which constantly reminds users of their daily task while they socialize.”
Soxax will have an advertising platform, allowing all “Soxians” to place any kind of advert by spending their balance of Soxax tokens.
Soxax’s whitepaper mentions the following core features on the platform:
- Strong privacy and user data protection, with personal data never kept on any central server
- Increased productivity and time management with the Soxax “Reminder” feature
- Decentralized and transparent social network
- Earn while socializing
The Soxax Token Sale
Soxax is creating a total supply of 700 million Soxax tokens. 100 million tokens are being sold during the pre-sale and private sale, while 150 million are dedicated to the ICO.
Of the total supply of tokens, 65% are dedicated to the community while the remaining tokens are reserved for the ICO (30%) and developers (5%).
The token sale begins with a pre-sale from April 8 to April 10, 2018. The pre-ICO is being carried out through CoinPayments.net. There’s a minimum purchase price of 5000 SOXAX tokens at a price of $0.01 per token (90% discount).
The main ICO, meanwhile, is scheduled to progress through four stages from April 12 to May 4, 2018. The price will start at $0.03 per SOXAX at the beginning of the token sale, rising to $0.10 by the end of the token sale.
Soxax is a decentralized social network that seeks to disrupt today’s social media industry. It seems like a combination of Steemit and Facebook: you have your own personal profile and can share content or communicate with friends through that page, then get rewarded in cryptocurrencies based on your social media activities. When you post an article and people spend a lot of time viewing your article, for example, then you’ll get rewarded with cryptocurrencies.
The token sale for Soxax’s tokens (SOXAX) is underway throughout April and May 2018. To learn more about the platform or to stay updated on the token sale, visit online today at Soxax.com.