Launched in 2013, the Nxt Blockchain is a departure from Bitcoin in that it functions as more than just a digital currency. Nxt (pronounced “next”) is a holistic digital platform that supports a wide range of applications and financial services. One of the major criticisms of the Bitcoin Blockchain is that it can only ever be used to service the Bitcoin digital currency.
When you consider the enormous cost of energy required for mining and the immense potential of Blockchain Technology as a whole, this seems to be a massive case of under-utilization. Not taking anything away from Bitcoin as it has been a major success and still continues to be, there is a whole lot more to Blockchain Technology than payment processing.
THE NXT BLOCKCHAIN
The Nxt Blockchain is a realization of the immense potential of Blockchain Technology. It not only has all the features of a cryptocurrency, it also has the ability to support a whole host of financial, crowdfunding, and governance applications within its core framework.
Nxt goes beyond traditional cryptocurrencies by providing modular toolsets which empower users to build other technological protocols that can be run directly on the Nxt Blockchain. What this means is that participants on the Nxt Network have the freedom to create other digital currencies, currency exchange services, online voting protocols, and even set up Decentralized Autonomous Organizations (DAOs) with many-layered functions and applications.
ACTION THE INTERNET OF REWARDS
User-generated content has been the foundation of the entire global information processing system
known as the Internet. Prior to the emergence of the Internet, content creation was largely the exclusive preserve of Media Companies, but the case couldn’t be any more different these days. With an Internet enabled device, any individual can create content, post it on the web and potentially have it viewed by people across the globe.
In many ways, the Internet can be seen as a type of Blockchain with each computer, server, router and all other peripheral components of its infrastructure seen as nodes. These nodes all contribute to maintaining the global Internet framework. Imagine if there were no user-generated content on the Internet, much of the rich diversity of content available today would not have been possible.
The Internet would have been a linear extension of Government and Private Media Organizations. The narrative would not have been an as far ranging as it is today. However, because of the abundance of users actively participating in the global Internet community, the entire cyberspace is filled with information, casting illumination upon even the most obscure corners of the globe that might not have been known if not for the power of the Internet.
AT THE CORE OF THE 21 ST-CENTURY INTERNET CULTURE IS SOCIAL MEDIA
which accounts for arguably the largest source of user-generated content on the Internet. Some of the
largest Internet-based Corporations are Social Media Organizations like Facebook, Twitter, and Reddit. These organizations have tapped into the vast resource that is Social interaction and created platforms that give users the ability to share content free of charge.
Due to the popularity of these platforms worldwide, a lot of revenue has been generated by featuring paid advertising content, promotions etc. One large criticism of the scheme of things as far as Social Media is concerned, is that much of the value creation is for the benefit of the Corporations with not much going towards contributors.
Considering the fact that the popularity of these platforms has a lot to do with the sheer volume of participants who regularly grow the platform by sharing content and interacting with other users generally, it does seem like a lot more could be done. This is where Action comes in.
HOW IT WORKS
ACTN (an asset issued on the Nxt Asset The mechanism by which the ACTN token works is Exchange: asset id: 13483660838603398727) quite straightforward. Users collect Action by represents all of the tokens that have been earned interacting with the Action Coin Network.
So by simply or may be earned, by members of the Action Coin signing up on the Action Coin Network, a user is Network, as well as tokens that are being held credited with some Action, which can then be used to in reserve obtain rewards.
Users currently earn more ACTN tokens by referring new user registrations, posting reviews, and other content. Thus, by actively participating in the network, users gain more ACTN.
The ACTN Ecosystem is designed to be a fully user-incentivized system where all constituent entities function in a manner that ensures optimum value creation for all members of the Action community. This represents a paradigm shift in the Social Media and Cryptocurrency landscape that greatly encourages individuals to actively participate in social engineering activities while rewarding them for doing so.
The current setup of the Social Media space is one that encourages content from users
without creating any form of an incentivized-reward system for the users who regularly post content. Any user looking to monetize their social interactions on the Internet has to set up some form of Enterprise which offers products and/or services in exchange for a consideration.
The ACTN Ecosystem is set up to create another me ans of earning value from the Internet without having to be business owners. Early adopters of the Action Coin Network stand the chance to be foundation members of a truly remarkable cryptocurrency revolution.
The ACTN Ecosystem at its core is comprised of Users and Vendors. Users are those who join the network by signing up and referring other users to the network. Users may also be called on to complete other tasks on the network, such as data entry, in exchange for ACTN tokens. Vendors are businesses that are advertised through the Action Coin Network.
ACTN TOKEN DETAILS ASSET
Asset Id 13483660838603398727
QUANTITY: 10 BILLION
ISSUER: N XT-5 F 6V-G8 R U-ZGV6-7XAX U
EXPLORER: click here
The goals of Action Coin are as follows
- To be approved as a child chain on the Ardor (Nxt 2.0) Blockchain.
- Build a global platform where user-generated content is encouraged and rewarded.
- Reward users of the community with ACTN tokens that can be used towards adventure travel rewards.
- Improve the popularity and market penetration of the ACTN token by encouraging businesses to accept and/or distribute ACTN tokens.