Today in this post I will share with you my Homework Task (Season 5/Week-7) for Professor @wahyunahrul. The course that the professor @wahyunahrul has discussed with us "Verasity - Advertising Services On Blockchain". I have learned a lot about The Verasity - Advertising Services On Blockchain from this lecture of the professor.
Question-01
What is Verasity? What do you think about the performance of this platform in general?
Advertising is the most popular and effective way for any product to reach its specific customers. When a company brings a new product to the market, different companies market the product in different ways to reach the general public. And nowadays "digital marketing" is one of the ways to do marketing. At present advertisement companies advertise their products through this medium. Advertising companies use digital platforms to promote their products.
Because nowadays ordinary people naturally try to stay in their busy space or any other time online or in the virtual world. Most people use these different social platforms to spend their time. And this social platform is one of the ways to market any product. For example we can say YouTube, Facebook, Instagram platforms. These platforms have many users and advertising companies market their products here.
As we see on YouTube, YouTube is a video sharing social media platform. There are a lot of content creators out there who are making videos on the topics they are good at and in this video various advertising companies are promoting their products through youtube. Content creators are rewarded with a portion of what they earn from advertising on YouTube. So content creators from YouTube are benefiting a lot from getting these awards.
Advertisers always want their product to reach people who are interested in their product and their videos to reach people. Because people who watch this product or video are interested in the video and buy the product that is intended for advertisers. But one thing we must note right now is that all these ads are seen on different platforms and the videos are shown through computer programming bots as opposed to reaching the people. We have no interest in computer programming bot products. As a result, if they see that ad, there is no benefit to the advertisers. Because computer programming bots can't buy any more products, the biggest losers are the advertisers.
To solve all these problems, an entrepreneur named RJ Mark created a video platform called Verasity. In 2018, Verasity is a video content platform, a platform where videos or advertisements cannot be viewed by computer programming bots. Because it has a great advantage for advertisers. The platform has a technology called Truth Layer Protocol, which allows you to filter computer programming bots. Due to which video cannot be viewed or fake viewed on this platform with computer programming bot. This means that if someone is watching a video or has an advertiser, then only those people can see that ad. This will greatly benefit the advertisers.
The problem I mentioned earlier is that this problem is not likely to happen on this Verasity platform. Another big advantage here is that naturally we know that not only content creators get rewards for sharing other platforms, but those who watch videos on this platform called Verasity will also get rewards for watching videos. A token called VRA or Verasity will be rewarded for viewers or those who watch the video on the Verasity video sharing platform. So I think those who have viewers and those who have advertisers will love this video platform called Verasity. Because advertisers on Verasity video sharing platform will not fall prey to any kind of fake view and those who have viewers can also get a reward by watching the video.
Verasity video sharing platform is integrated with video player on YouTube, Twitch, Vimeo, brightcove, VideoJS, Kaltura, Flowplayer. Below I have shared a screenshot, which details the screenshot.
Question-02
How does the Proof of View system used by Verasity validate real viewers? Explain in detail and make an illustration.
The professor told us in his post that online advertisers have spent $ 400 billion on advertising in recent years. But 40% of the $ 400 billion or $ 160 billion of ads were shown by computer programming bots. Which, of course, made the video an overnight sensation for online advertisers.
So the solution to this problem is Verasity, which I discussed in the previous episode. Verasity Video Sharing Platform has very efficient Proof of Viewer protocol. This proof-of-view can easily filter whether a person is watching the video now or a computer programming bot is watching and can take action against them. Fake views are not counted on the Verasity platform. There are two things to check whether a person is watching a robot or a computer programming bot. Proof of view system is one of 200 touch points and the other is artificial intelligence technology. With these two issues, the Verasity platform can easily identify who is watching the video.
If a computer programming bot ever sees the video, there is a chance that the bot will interact with each other. So in this way the proof of view system can understand whether it is a man or a bot.
Question-03
Why is the "fake viewer" so detrimental to all concerned with the videos and advertisements shown?
In answer to this question, I would say that it is harmful for both fake viewers to show videos and advertisements, as well as advertisers and video platforms. If the video is shown by a computer programming bot on a video sharing platform and the advertisement is promoted on that video, then the advertisers do not get any benefit from it. Because the bot will never buy his product. And the purpose of advertising to advertisers is to get the product to the buyers and sell it. So if the advertiser's ad is shown by a bot, then their purpose is not achieved. For this reason, it is harmful for the advertiser to show ads by bot.
And if advertisers don't get any benefit from advertising on a video sharing platform or if that ad is shown by a bot, this is something the advertiser understands. But then the advertiser will not want to advertise on that video sharing platform anymore. Because he is not benefiting from this in any way. So advertisers will not be encouraged to advertise on that video sharing platform. But then the video sharing platform will lose one of its customers. And we know that advertising is one of the best sources of revenue for video sharing platforms. If he loses his client in this way, it will be a big loss for him. So I would say that showing videos or ads by bot on video sharing platform is detrimental to both the advertiser and the video sharing platform.
Question-04
Explain what ways we can do to get VRA Token rewards.
If we want to get VRA as a reward, we can get it by watching the video via verawallet.tv. So first we have to go to this website verawallet.tv and a little bit below that will actually show us the Rewarded Video, which means we will be rewarded for watching the videos.
Step-01: To get the reward, we will first select one of the rewarded videos. I will select a rewarded video called Technews.guru here. So I clicked here, which I marked in red above.
Step-02: Then a new tab will open on our computer and on the top right of that tab I have marked in red color, you have to click on that button.
Step-03: To get rewards we first need to create an account here. So I filled in a captcha with the information here. Then click on the Create Account button here.
Step-04: After clicking the Create Account button, a code will be sent to our mail. When we check our mail, we will get that code. We have to copy that code.
Step-05: This time we need to paste the code that we copied from our mail and click on submit button.
Step-06: Our account has been successfully created and we can see in our wallet that we have 0 VRA tokens in our account. We have earned 0 VRA tokens today and we can see that we can get 1 VRA token for 1 video.
Step-07: When the video is finished watching, we can see in the screenshot above that the Reward button will take a different color from white. Then we will understand that from this video we got 1 VRA token as our reward.
Step-08: This time I checked my wallet and after checking the wallet I found, today I got 1 VRA token for 1 video views.
Question-05
What is VRA Virtuous Cycle? Explain in detail.
VRA Virtuous Cycle has 6 very important features. Which we found out through this website verasity.io. Through this platform users are able to earn rewards and participate in many lucrative processes. It has 6 features, those are the features: Buyers buy VRA, Verasity earns, Earns VRA, User Benefits, Use VRA to: Cycle Repeat.
Buyers buy VRA
These are basically content creators, creators or publishers. They purchase VRA tokens through any exchange or payment method of their choice and after purchasing the token they monetize their content. By monetizing this they encourage a lot of viewers to watch their content.
Verasity earns
This is mainly because verasity developers receive a percentage of VRA tokens when content is viewed, sponsored in tournaments, or other activities performed on the verasity platform.
Earns VRA
Viewers of videos or advertisements on the Verasity platform receive VRA tokens as prizes for viewing videos and advertisements. This enables the Verasity Platform to attract more visitors to the Verasity Platform.
User Benefits
Video content, ads, etc. If users participate. However, content creators and developers receive% VRA tokens as a reward.
Use VRA to:
Users use VRA tokens to pay tournament fees, entry fees, subscription fees. Users can also gain by staking on the verasity platform.
Cycle Repeat
Content creators, publishers through whom VRA tokens are earned. They are used to conduct more tournaments and campaigns.
Question-06
Create a VeraWallet account and show the complete steps (Screenshot Required).
At this stage we will try to show you how to open an account verawallet.tv. I will try to give details including screenshots of how to give each step of opening an account. For this we will first go to the official website of verawallet.tv.
Step-01: After visiting the website of verawallet.tv we will find such an interface. Since we will create a new account, we will click on the Create Account button.
Step-02: Then we get an interface like this. Here we need to enter a valid email address and then a password for our account. Then I agree to the Terms and Conditions Privacy Policy. Click here and click on create account button.
Step-03: The verification code will appear in the e-mail address that we gave at the time of accounting. From what I received in my mail, we will copy the verification code from here.
Step-04: The verification code that we copied earlier, you have to paste the code here and click on submit button.
Step-05: After clicking the submit button we will get the key of our account here. We need to be very careful about copying this key. There is also a QR code above, if we scan that QR code through Google Authenticator apps, we will get a code. We will scan that code. Because in the next step we will need that code. Then we will click on the Next button.
Step-06: In the previous step, you have to enter the kit that we copied and then click on the right button.
Step-07: I mentioned earlier that after scanning the QR code, we will get a six digit code from Google Authenticator.
Step-08: Here we will give a key, copy that key and we will click on the save code button.
Step-09: This time we will copy the code above and save it and click on the Go to Complete Account button.
Step-10: Then to complete the account, we will click on the submit button with our name, our country name and our mobile number.
Step-11: After clicking the submit button our verawallet.tv will be created.
Question-07
Explain what use cases the VRA Token has in the Verasity ecosystem.
We must know that the VRA token we discussed earlier is a native token of the Verasity blockchain ecosystem. This VRA token is used for many important functions in the Verasity blockchain ecosystem. Each activity is edited via RA token. So at this stage I will discuss some of the activities of RA Token.
In the Verasity ecosystem, when viewers see a video or an ad, they are rewarded for watching the video. And as a reward, he is given a VRA token. A user can get a VRA token for watching a video.
VRA tokens verawallet.tv A user can stake his or her choice. Investors share VRA tokens for stakeholder purposes and can get some percentage reward for stakeholder.
Those who are content creators and developers here need VRA tokens to monetize their content and videos.
Viewers of the videos receive VRA tokens for each view through the verasity platform.
Question-08
Explain the steps on how to Staking VRA tokens.
At this stage I will show you how to stake VRA token. For this we must first go to the official website of verawallet.tv.
Step-01: After visiting the website of verawallet.tv we will first login using our email and password and click on the signin button.
Step-02: We were able to login to our verawallet.tv. After logging in, a page like this will appear in front of us. Since we want to stake from here, we have to click on the staking button on the top right.
Step-03: After we click the staking button, a page like this will appear. Then we go a little further down.
Step-04: Then at the bottom there is actually an option called stake VRA, I will click on that button.
Step-05: We have 1 available balance here for staking. Stacking requires a minimum of 10,000 VRA tokens, which is not in our account. But if you click on the Continue button here, it will be staking.
Question-09
Watch one of the videos on the Verasity Website and show us how we can get rewarded for watching the video.
At this stage I will show you how to get VRA Token Rewards by watching the video through the website verasity.tv.
Step-01: For this we will first go to the website verasity.tv. After scrolling down here, there is a button called Watch and Earn Now, I will click on that button.
Step-02: We will then login to verawallet.tv by clicking the sign button with our email and password.
Step-03: Logged in to our verawallet.tv and I took a screenshot from verawallet.tv and see, so far today I have a VRA tokens and did not earn.
Step-04: Then to make money I opened a video here and there is a button marked in red at the top, that button is white. There is white money, so far I have not received the reward.
Step-05: Then after watching the video I got the reward and I marked in red in the screenshot above that the white reward button has turned green. That means I've got it.
Step-06: After that we opened our verawallet.tv and by opening the wallet we found that I earned 2 VRA tokens today by watching the video,
Question-10
Conclusion.
Finally, I would say that verasity.tv is a video sharing platform that can benefit both content creators, advertising companies, and viewers who watch these videos. Because content cricketers can earn a very good amount from here to create their content. In the case of those who have advertisers, they also advertise their company's products through video on other video sharing platforms. That product is shown through a computer programming bot. It would not have benefited them. But no video can be shown by computer programming bot on this verasity.tv platform. That's why they use a protocol called Proof of View, through which they can identify which people are watching the video or which robot.
In that case it will play a very important role for the advertisers and they can get a good amount of results for the amount they spend on advertising. Lastly I would like to say that those who have viewers or viewers. They can't make any money by watching videos on other platforms. But this verasity.tv platform has given them a chance, they can earn 1 VRA token for watching each video.
So I am very grateful to the professor and thank him very much for giving us a very well-explained lecture with such a beautiful topic. Through this lecture I have learned many new things and learned many things not known