The blockchain space favors those with knowledge on its operations. As a general user, learner, trader or a simple investor; you’ll enjoy blockchain and its applications a bit more when you know more about it. There’s no one person that knows everything about blockchain and there’s definitely someone out there who knows something you don’t. What if there was a way for you to get answers to all the questions you have about a variety of topics relating to blockchain? And what if you were to be rewarded for asking these questions and having them answered, or for answering other people’s questions about things you already know?
This isn’t what I expected when someone told me about a new Q&A platform on the Telos blockchain. My imagination didn’t dare entertain the possibility of a platform that provides so much value to the user. Knowledge alone is worth the world. but to also reward someone for seeking knowledge and sharing it with others was unimaginable until now. Honestly this is one of those ideas where you’re like “how come no one’s done this before?”. It’s a simple yet effective concept that’s been made possible only through the capabilities of blockchain technology and its ability to tokenize engagement.
Peeranha is a decentralized question and answer website that rewards users with crypto tokens for their contributions. In other words, it is a knowledge sharing economy. Its decentralized platform/website supports users from all corners of the blockchain. Here users will have access to experts from multiple blockchains from whom they can get their questions answered. There’s been countless times where people message me to ask certain questions about blockchain. Sometimes I would have the answers, other times I would refer them to an article that may have the info they’re looking for. This process is untidy and quite frankly it is about time we get a platform to quickly tackle this.
What makes Peeranha different from other Q&A websites is that it is owned by the users along with all the user generated data. As a user you’re afforded a permissionless space to ask any questions and join different communities. The aim is to build a searchable and structured knowledge base for serving blockchain projects. It also plans to expand into other non-blockchain areas later on as its user base continues to expand. The other best part is that the platform is governed by members of its community, thus giving them control over its long-term success.
Peeranha launched (Dec 23, 2019) on the Telos blockchain for faster transactions and zero transaction fees. Ahead of its launch, Peeranha was awarded a GoodGrant which is an initiative by GoodBlock to help cover resource costs for projects building on the Telos blockchain. As such users can enjoy worry-free transactions, and free accounts for everyone who signs up to use the Peeranha platform. A nice way for you to get your first Telos account! The Scatter wallet also has support for Telos, making it easy to interact with dApps that run on its blockchain.
Communities are for people with common interests, and to help group information regarding a specific blockchain, dApp, project or said interest. Surely as more users join the platform they will create more niche communities for themselves dealing with a wide range of topics like pop culture. For a new community to be introduced, a user will have to start it as a suggestion and then have it voted upon by at least 100 people to pass.
A similar process applies for suggesting new tags. Tags are how users on the platform quickly find the information they seek. They represent what the topic is about and are triggered by keywords from a user’s search. This helps narrow down search results and delivers much more reliable results. Tags are especially useful for niche communities to quickly find information related to them. Acting as sort of labels for different groups.
Peeranha is not a social media platform, it is strictly a Q&A platform. Some communities will have more knowledgeable members than others. Therefore, it is up to the community’s members to bring/invite new members to their community whom they know to be well versed in their field. An Ethereum based community would obviously want to invite Vitalik Buterin. And an EOS(IO) based community would most likely prefer to have Daniel Larimer join theirs, et cetera. This creates a healthy competition between communities which ends up benefit anyone looking to learn more about this projects. All in a single platform!
Tokenomics & Rewards
The in-app token for Peeranha is called PEER. It has a total supply of 100 million tokens, 60% of which is reserved for rewarding user contributions, 20% for founders and team rewards, and the last 20% for funding purposes. New tokens are created every week at a rate of 100,000 PEER per week and this rate will decrease by 10% every 52 weeks.
The newly minted tokens will be proportionately distributed amongst community members on a weekly basis based on their total contribution. The more active you are; the more rewards you’ll receive. There’s also 7 different level statuses that users can attain and they are based on ratings from your contributions to-date with each level affording you certain privileges. Thus the higher your rank; the more you can do on the platform.
To prevent abuse of the reward system, here’s how rewards will be distributed:
- Week 1: users engage on site
- Week 2: rewards are allocated but not distributed
- Week 3: rewards from week 1’s contributions are distributed. Estimated rewards for week 1 will be visible after the start of week 2 but available to be received only after the start of week 3.
Personally I like to be an early adopter of projects that are pioneering in new and innovative solutions. That way I get the opportunity to learn everything about them from the ground up. They also inadvertently set the foundations for similar projects that may come after them. Therefore, providing you with the basics of future creations. This was true of CryptoKitties in its use of NFTs, and I believe to be true of Peeranha in becoming the first of Q&A ‘encyclopedias’ that reward their users.
It is still early days to be absolutely sure of whether this platform will be a success but it has the right tools to push it forward. For one, it is built on top of the world’s best performing blockchain protocol – EOSIO. Secondly, it has tokenized user engagement and rewards them for their contributions. And lastly, it is decentralized, with governance placed in the hands of its members. Besides all of these, it has the most important element for the long-term success of a project in its arsenal, and that’s value creation. Put away blockchain, decentralization and rewards; Peeranha gives immense value to its users in the form of knowledge of the topics you care most about.
Like a true peeranha I too like to create value for my readers. I do research on every single project I write about to ensure that they are indeed worth the time. I feel the best value I can offer you as a blockchain user is to make you an early adopter by introducing you to projects well before they become popular. Many of the dApps I’ve covered so far have gone to become hits and I don’t see anything holding this one back. We all have specific blockchain questions that we would like answers to. Now we have a reliable source to go to in Peeranha.
I hope this article was as much of value to you as I believe it to be. And if so, please share this with your following to extend that value. A platform like this needs a large base of users with diverse knowledge across the entire blockchain space… and beyond.
Until the next one,
Disclaimer. EOSWriter does not endorse any content or product on this page. While we aim at providing you with all the important information we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.