Postbase is an ambitious social bookmarking and funding project that is focused on the development of a fully decentralized social bookmarking platform that rewards users for submitting quality content. At the core of the postbase platform is the PB cryptocurrency.
Subbases
Subbases are category specific boards that users can post to. Postbase users can create and manage their own subbases. Users that create a subbase will become the subbase owner, and will have control over moderator and subbase delegate selection. Subbase owners will also control the subbase fee schedule. Subbases will run on sidechain nodes that index subbase posts and related content.
User Reputation Score
Every Postbase user is assigned a reputation score of 5 when they create a new account. The users reputation score will adjust based on the popularity of the content they submit. The reputation score will increase when they receive up votes, and decrease when they receive down votes.
Custom Ranking Algorithm
Every user will have the ability to control how posts are ranked and filtered by adjusting their personal ranking algorithm. A number of metrics can be adjusted in the ranking algorithm including reputation scores, and moderator flags.
Consensus
Postbase uses DPoSR (Delegate Proof of Stake * Reputation) as a consensus mechanism. DpoSR is a variation of Delegate proof of stake that was originally created by the bitshares team. With DpoS the weight of the votes used to elect the active delegates is proportional to the amount of Coins the users hold in their wallet. DpoSR multiplies the amount of coins by the users reputation score when determining the weight of the votes, giving more weight to votes cast by users with a higher reputation score.
Custom Post Types
Link and Texts posts allow for Postbase users to share content on category specific subbases and get rewarded for posts that receive upvotes from other users on the network. Posters that have a higher reputation score will have their content move to the top of the subbase faster than users that don't vote, comment or have a negative reputation score.
Funding posts can be used to create awareness, and raise funds for a specific initiative or project. Funds are raised from the upvote transactions and direct donations from users. To ensure the viability of the project that will require a set amount of funds to complete, fundraising goals can be set that must be met before the PB currency is delivered to the posters account.
I Am a Posts are nothing more than a question and answer format in which the original poster may answer questions and receive rewards for upvotes associated with each answer. Users that submit questions will also be rewarded based on the number of upvotes their question receives. The monetary reward associated with the answers will entice the posters to submit detailed and quality answers.
Prediction Posts allow users to purchase shares associated with a possible outcome. The user purchases a determined amount of shares towards one or multiple possible outcomes of an upcoming event. Once the event takes place and the outcome is verified by an assigned escrow delegate, the shareholders of the correct outcome receive an appropriate percentage of all coins raised from share purchases. If users have chosen an outcome which did not occur they would not receive a reward. The escrow delegate associated with the prediction post receives a portion of the associated transaction fees.
Delegates Types
Mainchain Delegates carry out the task of securing the network and forging new blocks on the main blockchain These delegates will then receive a reward and a portion of the transaction fees generated on the main chain. 101 main chain delegates are elected by the Postbase stakeholders.
Subbase Delegates are chosen by subbase owners to forge blocks on the subbase sidechain. Subbase delegates will index the posts, comments and other content associated with the subbase, and serve content requests from the subbase subscribers. Popular subbases will distribute content request among its subbase delegates allowing subbases to scale easily to cope with the workload associated with a growing subscriber base.
Moderator Delegates are also chosen by subbase owners. These moderator delegates will flag inappropriate posts and identify users who are not following the rules of the subbase as outlined by the subbase owner. Users can incorporate the moderation flags into their custom ranking algorithm allowing undesired content from reaching their front page.
Escrow Delegates verify events taking place which are connected with posts that have PB currency in escrow. The verification of the event will trigger the transfer of the PB currency to the new account holders. Escrow Delegates receive a percentage of the transaction fees from the related posts once they have verified the event.
Technology Stack
-The Postbase core will be based on Lisk (Node.js)
-Dapps module is being replaced with the new Subbase module
-New web client developed with React will replace the existing Lisk web client
-Desktop applications will be developed with React, Electron, and PouchDB
-Mobile Apps for Android and iOS will be developed utilizing React Native
Name: Postbase (PB)
Consensus: DPoSR (Delegated Proof of Stake * Reputation)
Initial Coin Supply: 100,000,000
Block Time: 30 seconds
Block Rewards: 1st Year 15 PB per block, 2nd year 10 PB per block, 3rd year 5 PB per block, All other years 1 PB ber block
Technology Stack: Nodejs, express, Angular, Reactjs, electron, postgresql
ICO Crowdfunding Campaign Terms
Postbase ICO crowdfunding campaign will run from 08/17/2016 to 09/30/2016.
Up to 75million PB will be distributed to ICO crowdfunding participants based on the following calculation:
BTC raised * 100,000 = total PB distributed to ICO crowdfunding participants up to 75 million PB
If less then 75 million PB is distributed to ICO crowdfunding participants the remainder or the 75 million PB will be stored in a Postbase account that’s address will be made public. The PB will be used for future fund raising at the ICO crowdfunding price or higher as needed to sustain viability of the project.
PB will be distributed proportionally to each ICO crowdfunding participant based on their BTC contributed, bonuses, and referral bonuses.
There will be early participation bonuses based on the following schedule:
First two days ICO Bonus – ICO crowdfunding participants in the first two day will receive a 25% bonus (25 % bonus ends at 08/19/2016 7PM MDT)
Day 3 to 7 ICO Bonus – ICO crowdfunding participants in day 3 to 7 will receive a 20% bonus (20 % bonus ends at 08/24/2016 7PM MDT)
Second week ICO Bonus – ICO crowdfunding participants in week 2 will receive a 15% bonus (15 % bonus ends at 08/31/2016 7PM MDT)
Third week ICO Bonus – ICO crowdfunding participants in week 3 will receive a 10% bonus (10 % bonus ends at 09/07/2016 7PM MDT)
All BTC exchanged during the ICO crowdfunding campaign is technically donated and will not be eligible for refund. Postbase is not a charity or non-profit, and all BTC raised will be used to fund development of the Postbase software and related services.
*Was renamed to PB from POST on Aug 26 2016
Referral Program
ICO crowdfunding participants will be assigned a referral ID when registering on the ICO crowdfunding site. ICO crowdfunding participants will receive a 2% bonus from all BTC referrals.
ICO observation address:
1EK1ug2AZiKudfymb6cGWQKLqBSDmtAzar
https://blockchain.info/address/1EK1ug2 ... qBSDmtAzar
ICO Participation Process Demo Video
Wallet Demo for Initial Coin Distribution Video
Initial Coin Distribution
Up to 75 million – ICO participants (See ICO Terms)
10 million – Reserved for the development team (Will not be distributed at any time when the market price is lower then 2 times the ICO price )
10 million – User acquisition (distributed in small amount to verified users of other social platforms - Will not be distributed at any time when the market price is lower then the ICO price )
2 million - ICO and Post ICO Bounties
3 million – marketing Contests (Will not be distributed at any time when the market price is lower then the ICO price )
Initial Coin Distribution Overview Video
Twitter: https://twitter.com/PostbaseCoin
Web: https://www.postbase.co
Github: coming soon
slack: https://postbase.slack.com
Team Lead
Carmen Harvey
Linkedin: https://www.linkedin.com/in/carmenh
Email: carmen.harvey@postbase.co
Graphic Designer - Santiago Nogueira