What is Voilk Network?

in voilk •  6 months ago

    What is Voilk Network?

    Voilk Network is a blockchain based, decentralized, rewarding, crypto social network, Where your like is worth Cryptocurrency Called VOILK.
    When you like a post, or get a like to your own post on Voilk Network, you earn some VOILKs.

    Your like's worth depends upon, how much VOILKs you have staked in your wallet. How much funds the Reward Pool has in it and how much is your like's strength.

    When you unstake VOILKs from your wallet, your like's worth decreases, when you increase your Stake, your like's worth increases.

    Staked VOILKs are called POWER, so when you are staking VOILKs in your wallet, that means you are increasing your POWER.

    About mining Rewards

    Voilk miners mine a new block, every 3 seconds, which produces about 0.501 new VOILKs, off of these new VOILKs only 15% are paid to the miner as a block reward, remaining 85% of these new coins are added to the community's reward pool, which belongs to all the users of the Voilk network

    Users like you, distribute them, with the power of their likes.

    Monetization of posts

    When a post is published on the Voilk network, it becomes available for curation, and community members can like it, every like directs some reward, from the reward pool to that post, how much reward? that depends on the curator's Power(Staked VOiLKs)

    A post can receive likes from the community members for the next 7 days, on the 7th day, however many VOILKs it collected are ready to claim from the wallet section of the author.

    75% of a user's like's worth is given to the author, from the reward pool
    25% of a user's like's worth is given to the curator, for curating the post

    So when you like a post, you direct 25% reward to yourself and 75% to the author of the post.

    Visit basic information: https://welcome.voilk.com
    or Download whitepaper for more information: https://voilk.com/whitepaper.pdf

      Authors get paid when people like you upvote their post.
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