SPN is a flexible, ERC20-compliant cryptocurrency that will incentivize quality content, power all platform actions, and serve as the backbone of our tokenized economy. SPN derives its value from its ability to collaboratively distinguish high quality content. Implement mechanisms to promote quality contributions and reward users accordingly. Contributions are evaluated throughout the network, accumulating domain-specific reputation score. Within Sapien, reputation will mitigate trolling and reduce the spread of fake news. Reputation is inherent to the SPN token and thus not restricted to the platform.
A multitude of theories behind human intelligence suggest how fundamental social networks have been to the evolution of our species, Homo Sapiens. Whereas thousands of years ago the primary objective of interaction was survival, we now interact for numerous reasons, ranging from business to pleasure. Companies like Reddit and Facebook have enabled us to continue this ancient practice of socializing, while simultaneously driving open-source innovations like React.js and GraphQL. Another example of the earliest social activity is payments. Bitcoin is the first successful implementation of a borderless, cryptographical store of value enabling us to discreetly send funds to another person. Yet it was Satoshi Nakamoto’s brilliant idea behind the coin, the Blockchain, that has opened the floodgates of innovation. Immutable, hashed data is stored in blocks that are chained together to create a distributed database, secured with cryptography. This new technology has begun to disrupt everything from healthcare to banking to consumer apps. It is quite likely that we are witnessing the early stages of Web 3.0. Our team believes it is now feasible to combine the innate human desire for social networks with the immense power of the Blockchain to give each individual unprecedented control over their online social experience. We intend to build a democratized social platform that truly serves its users, fueled by a flexible cryptocurrency, SPN, built on the Ethereum Blockchain.