Baidu, a Chinese company-the developer of the eponymous search engine, has launched a photo service Totem on the basis of private blockchain Baidu XuperChain and also produced their own token-Totem Point.
The initial issue will amount to 4 billion tokens. The expected annual inflation rate, caused by network settings will be 4.5%. According to the creators, Totem token should Point to encourage users to upload to the service base of the original image. According to a Whitepaper of the project, the final number of tokens will depend on the amount and quality of user content posted on the platform.
It is reported that Totem Point can be used in various applications, built on a network XuperChain, however, a complete description of the functionality of the coins yet. In addition, it is unknown whether the possibility of exchange of Totem Point for Fiat or another cryptocurrency.
Recall that the service Totem was first announced in April. The framework uses the blockchain to store the data required for copyright protection of user content: when you upload a new image, the participants blockchain-chain — companies involved in stock photos, and organizations specializing in copyright, check the image for uniqueness. If the photo is approved, it adds a timestamp and writes data in the blockchain.
In the future, Baidu plans to expand the system with the technology of distributed registry and add support for other types of content, such as videos. The update is expected in the first quarter of next year.
Note that the company already has successful experience of issue licenzirovanie assets. So, in June, Baidu introduced the blockchain-the game Du Yuzhou, game elements which, in fact, are tokens.
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