QUESTION 1
What is Verasity? What do you think of the performance of the platform
Verasity
Veracity is known to be unique system which provides the proof of consensus mechanism. The verasity abbreviated as VRA provides this unique mechanism which is based solely on solving the issues faced in advertising videos as well as NFTs.
With this, we have verasity to run among multiple platforms trying to solve their problems of the fake view created by bots and programmed robots. We then see that the proof of view is the backbone of the verasity platform. The main token which is used in the participation on this unique system is the VRA token and has its Blockchain network with the wallet Verawallet.
Talking about the performance of this platform, we see that it is a platform which is highly reliable on as to the fake views created by bots and programmed robots to view ads which at the end of the day is not profitable to the companies hosting the ads but rather to the programmers. With this, we see that it quite disadvantageous to the hosting companies as they do not get the maximum exposure they intended.
QUESTION 2
How proof of view validates real viewers, explaining in details and illustration.
How Proof of View system validates real viewers.
Just as explained above how the verasity helps in growing companies rapidly through the introduction of the proof of view system to filter out false view done by bots and programmed robots so as to get maximum exposure of ads to the final consumers who will intern purchase that service or good.
The proof of view validates real transactions using the 200 touch points and artificial intelligence technology which is noted to detect the behavioral aspect of the person watching an ad or a video by noting the behavior of the viewer checking if it is a bot or a human.
With this, we see that the proof of view mechanism will verify and review a content solely in the form of transparency. The module is also known to be stored on a non-volatile storage with the capability of retaining data even the scenario of power out.
In this, the response received from content viewer is stored in a database chuck which is hashed and finally attached to the verification system of the proof of view system.
QUESTION 3
Why fake view is detrimental to all parties related in video and advertisement
Why fake is detrimental
Fake is view is particular detrimental to video and advertisement companies because the content does not reach the final consumer.
Let’s take for instance a company X pays for 1000 ads view with 1 ads costing $1. This means that the 1000 ads will cost $1 * 1000 which is $1000.
Now, let us say this company X is a small and developing company trying to reach to reach consumers through advertisement using ads. With the sending of this 1000 ads, if 900 of it is viewed by a programmed bot, it means that the company has lost $900 already.
Let us now assume that the remaining 100 ads is viewed by humans and only 10 are interested and response to the ads. This means that out of 1000 ads, just 10 are interested because of the intervention of fake views.
If the product to sold cost $10 each, this means the developing company has made $100 from the views they got.
On the balance we see the company spent $1000 and got $100
$100 - $1000 = - $900
Finally we see how detrimental fake views can be to advertising companies.
QUESTION 4
Ways to get the VRA token
Various ways to get the VRA token
We can get the VRA token through watching videos and ads in the verawallet.tv
I will describe the procedure practically in the steps below as I will be getting some vra tokens.
Step 1
We begin by logging into the vrewallet.tv and we have the landing page as shown below.
Step 2
After logging in, I now need to create an account by following the steps as shown.
Step 3
After account creation, I need to watch a video to earn as seen.i have watch 1 video, and this video is 1vra with a daily limit of 5VRA.
QUESTION 5
Explain vra and virtuous cycle in detail.
VRA Virtuous Cycle
The vra virtuous cycle talks about activities carried out using the verasity protocol. This is based solely on the usage of the vra native token. We can see the processes as explained below.
Publishers are known to buy the vra token using credit and exchange cards. The buy also include developers, influencers and investors which sponsors the campaign and attract larger audience.
The publishers then reward the developers, influences and investors as mentioned above which is based on the percentage revenue on the campaign, the ads or the tournament.
The vra is the earn by the investors, the influencers and the gamers which is based on their different activities.
Now the reward does not go all to the influencers, the investors and gamers, but a percentage is earn by verasity itself.
We now have the vra staking which is participating in the liquidity pool through the staking of the vra token to get APR and APY.
At the level of the staking, we now have the repeat of the cycle after that. Meaning that the income gotten by the influencers, the gamers and the investors will now go back to the first level above.
QUESTION 6
Create a verawallet showing the process
Creating a VeraWallet
We can create a vera wallet in the following steps as shown below.
Step 1
To create the vera wallet, we begin by login into the verawallet.tv and choose create account as seen below.
Step 2
We then input the gmail address and password and verify as shown below.
Step3
We now need to secure the wallet using Google authenticator as shown the procedures below.
QUESTION 7
Explain the use case of vra token
The use of VRA Token
The vra token can be used for staking on the verawallet.tv. with this stake we can earn up to 25.55% Annual Percentage Yield. And an interesting aspect of the staking on the verawallet is we can redeem daily at a rate of 0.07% and staked tokens can be unstaked at any time which is 72 hours after the stake.
The vra token is also used to reward users who watch videos on the verawallet.tv. as seen earlie as video cost 1vra and a user can watch up to 5 videos a day which mean the user will be earning 5vra a day.
Vra token is also used in content assessment. This means that content can be asses via pay per view and contributions to subscription.
Publishers also are rewarded using the vra token, this means this is an important usecase of the vra token.
QUESTION 8
Explain steps to stake vra token
Steps stake a token
I will explain the steps to stake a token in the following steps as shown below;
Step 1
We begin by logging into the verawallet.tv and clicking on staking.
Step 2
We now go down and click on stake VRA and input the amount. The minimum amount is 10000VRA.
QUESTION 9
Watch one video on verasity site showing how you get rewards.
Watching a video on verawallet.tv
To watch a video, we begin by logging into the site and click on the earn tab as shown. We then sign in with Gmail and password since I created an account already.
After logging in, I click on watch and earn and then verify the Google authenticator and watch the video as shown in the screenshots below.
Conclusion
I have explained the proof of view mechanism which is the main protocol used in the verisity platform to filter out fake views.
Fake views has been notably been disastrous to developing companies as they try to advertise but bots and programmed bots take the floor.
We can also earn the VRA token by viewing ads and videos on the verasity platform.
all screenshots are taken from the verasity platform unless otherwise stated