On the 4th of April this year, after months of beta testing, Snax will be launching the main network.
What is Snax?
Snax is a public blockchain with a Delegated Proof of Stake consensus.
Snax chain provides you with an ability to send tokens to your friends using their Social Network account names, even if they haven’t joined Snax network yet.
Snax also rewards people for the social attention they receive for their content (tweets, Instagram posts, and so on) on already existing public platforms.
All major social networks and messengers are now hiring blockchain experts because they want to have cryptocurrencies for their networks, and Snax is beating them to the market.
Staying on your social network
Snax blockchain is seamlessly integrated into existing social media networks, you can send transactions to any account name on any public platform integrated into Snax without prior invoicing from the recipient.
It is very simple to join Snax:
- Download browser extension (or mobile app in the future).
- Get your seed phrase and set a password.
- Create your Snax account and verify your account by posting a given hash (string of numbers and letters) with your social account.
It is absolutely free to do, and you will now have an account with Snax blockchain network and a social media account bound to it. You can read why this authentication process is trustless here.
Transactions over the social networks
Today, all major tech companies are attempting to build own cryptocurrencies to be used for transactions over their social network. Snax is giving you an ability to do it on the 4th of April.
Social transactions can be used in many ways — you can donate money to your favorite Hearthstone streamer or support a blog that you like on Twitter, advertisers can pay to social influencers for marketing campaigns or you can simply send money to your friends and family.
With Snax, you can be certain that the transaction will reach the recipient without having to rely on a centralized third party, with the convenience of using social media account names as recipient addresses.
Decentralizing rewards
Snax rewards content creators with SNAX tokens directly, independent from any advertisers and censorship.
Earning Snax tokens is simple — you continue making content on the same platform that you used to and Snax will reward you, no strings attached. All you have to do is join Snax.
Snax rewards are given regardless of whether you followers join Snax or not. If they do decide to join, they will be given some free tokens to spend on their favorite creator.
You can find out more on about the Snax rewards model, and how it compares to decentralized social networks like Steem here.
Launch features.
From the first moments of the main blockchain, Snax will provide you all of the above mentioned features for Twitter.
You will get a lightning fast wallet in the form of a Google Chrome browser extension, and a web interface to interact with the network. We have worked hard on making it as simple as possible to register with Snax, send SNAX tokens, and receive publisher rewards for your Twitter activity.
You will also receive 50 SNAX tokens for registering your twitter account with Snax network.
You can already experience how everything works by joining Snax beta.
Next steps
Over the next years, Snax Foundation has a lot of expansion plans.
We are going to be integrating more social networks into Snax blockchain, with Steem and Reddit already in the works.
A mobile app is already in development, which would further simplify the registration process and significantly expand the potential outreach for the network.
We expect that in the next five to ten years Snax will give out more than 50 billion SNAX as part of publisher or block producer rewards to people across different platforms.
Snax Foundation will be working on building an SMM platform for commerce companies and social influencers and a stable coin integration within Snax network.
How you can become part of Snax
If you are excited about our project and want to contribute to its development we welcome you to join our Discord server here. We are always looking for experienced block producers to help us support the network and grow the community.
Don’t forget to follow us on Twitter and to clap for this post!
Also, you can find answers to frequent questions here https://snax.one/faq.