Verasity is a decentralized platform that aims to revolutionize the video advertising industry by using blockchain technology.
Verasity's platform allows for content creators to monetize their work through advertising and sponsorship.
The $VRA token is used as a utility token within the Verasity ecosystem, serving as a currency for transactions and as a reward for users who engage with the platform.
One of the key benefits of Verasity's platform is that it offers a more transparent and fair system for content creators, advertisers, and viewers. Advertisers can directly sponsor content creators, while viewers have the opportunity to earn rewards for their engagement.
Verasity also introduced the protocol Proof-of-View as a consensus mechanism used in the Verasity ecosystem to validate transactions and secure its network. PoV is unique in that it takes into account the engagement and interactions of users on the platform. Instead of traditional mining, users are rewarded for their contributions through watching videos or participating in surveys.
This means that users who actively engage with the platform, such as by watching videos or participating in surveys, have the opportunity to earn rewards and contribute to the security of the network. This helps to create a more equitable and decentralized network, as users are incentivized to engage with the platform and help secure the network. It also ensures that the network is not reliant on a small group of individuals or entities.
The Proof-of-View mechanism helps to create a more sustainable platform, where users are directly rewarded for their contributions. This can lead to a more vibrant and thriving ecosystem, as users are encouraged to engage with the platform.
The use of Proof-of-View also helps to reduce the carbon footprint associated with traditional proof-of-work consensus mechanisms, as it does not require large amounts of energy to validate transactions.
