How Does It Work
Each person that comes to Channels automatically has an account set up for them with an initial balance of 5 tokens,
which we call
ChannelCoins. We use the symbol, ℂ, to represent these tokens. So ℂ0.25, for example, means one quarter of
one ChannelCoin token.
cards that others have posted, each with a price tag. When they open a card for the first time (and keep it
open for at least 10 seconds), a transaction is made between that consumer and the author of that card. Based on
the card's price, a small quantity of tokens are transferred from the buyer's account to the seller's account.
Or, if the card's author is promoting their content, that transfer may happen in the other direction.
If your balance is above ℂ5.00, Channels will not show you promoted content. So users who prefer not to see advertising
can simply purchase tokens to cover the content they consume.
The card's author sets the pricing level on their cards. Channels uses this information to set the final prices,
so as to keep a balance between how much money is coming into the network and how much is going out. This is what
ensures that authors are getting paid well, but consumers are not seeing excessive advertising. Channels takes
10% of the tokens paid from consumers to authors.
Unlike other platforms (like Medium and YouTube), Channels does not support a single type of content. You can post
videos, articles, games, news, etc. We have built-in card designs supporting the common types. But Channels can
any kind of content that can be hosted on the web.
You can sell tokens you have in excess of ℂ5.00. Currently ChannelCoin tokens can be exchanged 1:1 with US dollars.
Eventually that exchange rate may change.
While Channels is in its early stages, we are paying token subsidies to both consumers and authors as a way to provide
incentives for good content. Consumer subsidies mean that without consuming any promoted content, the network may
pay small subsidies over time until the consumer's balance has been restored. Author subsidies, if available, supplement
the amount paid by the consumer for opening a card -- keeping the prices for consumers low, while providing compelling
rewards for the best content.
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