Block.one, the publisher of the EOS blockchain protocol, has won a patent for a blockchain-based bidding method that aims to encourage positive feedback on social media platforms.
According to a document published on April 28 by the U.S. Patent and Trademark Office, Block.one’s newly approved patent – first filed last May – seeks to address the current lack of incentivization methods for social media users to give positive feedback like upvotes, likes, and comments.
“One way that posts achieve influence is through positive community feedback,” the patent document explains. “Although a user who creates content may receive personal acclaim and recognition through receiving positive feedback, those users who provide the positive feedback oftentimes receive only limited exposure.”
Block.one devised a new bidding methodology to grant exposure to users other than a post’s original author. Specifically, the system would first verify the authenticity of a post through a blockchain to make sure that the content is the original work of the author. Then, users wishing to be associated with the post could bid on it with tokens distributed by the social media platform. The highest bidder will have their profile displayed in a noticeable spot on the post.
This way, the document said, successful bidders can gain exposure through other users’ posts and use the latter for promoting their own interests.
All post data will be stored on a blockchain, the document said, and tokens obtained through the bidding process will be distributed to the author, a previous highest bidder, and the administrator.
“As those skilled in the art would realize, the described implementations may be modified in various different ways, all without departing from the scope of the present disclosure,” noted the document. “Accordingly, the drawings and description are to be regarded as illustrative in nature and not restrictive.”
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