As posted on Steemit
As promised in the @MusicVoter update post (here) I want to tell you about Whaleshares and how it is not just a clone of Steemit and why it looks like it is going to be great for independent musicians.
A Steemit Fork?
You may or may not be aware of the term "fork" in crypto. It basically means that a blockchain project spawns a new version that then becomes a system in its own right. Bicoin Cash is an example of this. There were some disagreements over the future direction of the Bitcoin network so a subset of the developers decided to use the code to create a new version.
Whaleshares can be viewed as a fork of Steemit due to a group of people not being happy with what Steemit had become and wanted to fix some of the issues.
Steemit vs Whaleshares
The main goal of Whaleshares is to make it more about community and less about making money.
The key differences:
- No concept of delegating
- If you want to reward a post then you will also have to repost it (called "share" on Whaleshares). You cannot just "upvote" it. The concept being that if you really do like the content then you should be willing to share it with others.
- Only 1 token "WLS" that can be staked (same as powering up in Steemit) as "Whalestake".
- No bots / curation trails, etc. It's all about real communities with rich content.
- User created tokens (see below).
Summon A Whale with Tokens
One exciting feature of Whaleshares is that users can create their own token that can be used to reward members of their specific community.
The way this is designed to work is that the owner of the token will seek out individuals that deserve some help and send them some of their tokens via their Bitshares account.
They will be able to accumulate these tokens and then "summon a whale" to reward one of their posts.
AIRPLAY & $INDIE
@seveaux has created the AIRPLAY token and has kindly offered it for us to use to reward deserving independent musicians.
The token will be able to summon the-jukebox whale to come and visit the post of your choice.
This feature will be live at some point in September but the exciting thing is you can also trade your $INDIE for AIRPLAY on Bitshares.
So you now have another use for $INDIE!
More Details Coming Soon
Once the functionality to summon the the-jukebox whale is in place I will do another post and associated video to show you the exact process.
In the meantime you can open up a free Bitshares account and spend some time getting used to it as it is a bit overwhelming at first especially if you have never used a crypto currency exchange before.
I will do a detailed video on exactly how to trade your $INDIE in September too.