5. Wealth Message Project
Last updated
Last updated
Wealth Message aims to build a forum for global users that is free from censorship, promotes freedom of speech, and provides shared ecological benefits. Through the use of NFTs, ownership of content will be returned to its creators. As the ecosystem develops and expands, Wealth Message will gradually provide users with a content ecosystem based on the Metaverse.
The infrastructure of Wealth Message is divided into five parts: hardware layer, network layer, contract layer, service layer, and application layer, as shown in the diagram above.
The hardware layer consists of computation and storage. It is the lowest-level hardware resource of the platform. Hash is the foundation of blockchain operation. The computation hardware provides support for mining and supports platform business processing. Storage refers to the hardware resources for storing platform data. Since blockchain storage performance is limited, some important information such as account and transaction information needs to be stored on the blockchain, while other information can be stored locally in a common relational database.
The network layer includes P2P and virtualization. The P2P distributed network is used to transmit data between nodes to form a distributed ledger. Virtualization refers to the virtualization of computation and storage through network functions, providing a virtual execution environment (such as Ethereum's EVM) to provide interfaces for upper-layer services.
The contract layer includes testing, deployment, and management functions for smart contracts, while also providing interfaces for account data storage in the hardware layer. Deployed smart contracts are the basis of cooperation among various parties in the platform, covering scenarios such as service provider access, copyright protection, income distribution, and virtual asset trading. The process of executing smart contracts is transparent and open to both parties involved.
The service layer includes backend interfaces that support multiple applications in the application layer. Specifically, it includes identity authentication, copyright certification, content management, asset conversion, incentive certification, income distribution, as well as monitoring, statistics, logging, and security services that ensure the platform's operation. Content management includes content registration, storage, and content recommendation and review. Asset conversion includes trading between virtual assets and the conversion of virtual assets into real-world assets. Incentive certification verifies incentive conditions for creators and consumers based on incentive mechanisms, triggering smart contracts to implement income distribution.
The application layer includes interfaces for platform users. Users can register and log in to the platform to enjoy digital content services or provide high-quality works as creators and manage their copyrights. The platform can also access new digital content businesses to enrich the digital ecosystem. Regulatory authorities can conduct copyright reviews and asset audits to maintain the platform's operation.
In a fully decentralized platform, all code should run on the blockchain. However, the limited storage and processing performance of the blockchain limits the platform's performance. In order to balance high responsiveness and decentralization, the new platform still needs to combine traditional client-server architecture. That being said, it is necessary to further distinguish between core code (such as copyright registration and asset transfer) and core data (such as information about a published work, e.g., user likes used for incentives), and data storage on the blockchain.
The deployment architecture of the Wealth Message platform is shown in the figure above. End users access the platform's servers that process user requests. The platform records important operational data onto the blockchain, while other non-core data, such as user login IP addresses, are also recorded in a database. This approach reduces the burden on blockchain processing and speeds up platform response times. Blockchain nodes include various content product service providers, while third-party monitoring agencies, such as notary offices, can be integrated as the platform's regulatory body to prevent cheating.
The consensus mechanism of the blockchain ensures that all nodes save the chain's data, making it difficult for one party to tamper with the data. To ensure a certain level of decentralization, the platform must provide service interfaces to end users so they can access their own data saved in the blockchain, such as copyright information and likes. This interface can be run by the monitoring agency's server. Users can also test and supervise the process. For example, they can like their own work and then check whether the action is recorded on the blockchain. In the event of a dispute, the monitoring agency can directly access the blockchain data for investigation.
1) Content Publishing: Users can publish articles, images, videos, audio, and other forms of content on Wealth Message, including importing existing content from other social platforms or websites. The system supports multiple languages and countries.
2) Content Rewarding: Users can reward content they like to support the creators using different digital currencies supported by Wealth Message.
3) Content Commenting: Users and buyers can comment on the content they see or purchase.
4) Content Ranking: Content is ranked according to parameters such as likes and rewards, on a daily, weekly, and monthly basis.
5) Point System: Different content publishers have different point weights, and users can earn more income based on their point rankings.
6) NFT Distribution: On Wealth Message, each article published generates an NFT, and users can earn more income through NFTs.
7) Social Functions: Users can add friends, send messages, share content, and other social functions on Wealth Message.
8) Smart Contracts: Wealth Message will provide smart contract functionality, enabling users to implement actions such as liking and rewarding.
The Wealth Message platform includes four key roles: consumers, authors, platform providers, and regulatory authorities, as shown in the figure below where you can see their corresponding functionality.
● Consumers: End users who access and use the platform to read, like, reward, and purchase content.
● Authors: Users who create and publish content on the platform, and earn income through likes, rewards, and purchases.
● Platform: The entity that operates and manages the platform, providing technical and operational support for creators and consumers, as well as recording important operational data onto the blockchain.
● Regulatory Authorities: Third-party monitoring agencies that ensure the platform operates fairly and transparently, and provide support for dispute resolution.
They are the primary participants and revenue source for digital content platforms. Consumers can enjoy services such as literature, videos, games, and give feedback and share their experiences to interact with other consumers. When consumers purchase content products or sell virtual assets such as game props, they need to use the platform's unified token.
They are the personnel who create literature, videos, music, and develop games. They are the foundation for the stable and healthy development of the platform. Works in the platform are mapped to a unique hash value. The hash value and related information (such as author ID and work title) are recorded on the blockchain. The work is attached with an immutable timestamp using the blockchain mechanism to achieve copyright registration. When a copyright transaction occurs, information such as the buyer and seller, purchase time and deadline should also be recorded on the blockchain. When infringement occurs, creators can submit the copyright registration and transaction records on the blockchain as evidence to the platform's administrators or regulatory departments for rights protection.
The Wealth Message platform operates various products and provides business support for both consumers and creators. The various blockchain service providers on the Wealth Message platform should reach a consensus on admission and revenue distribution plans, etc. in the form of codes. To maintain the healthy operation of the digital content platform, Wealth Message can use artificial intelligence algorithms to filter out poor-quality content and implement content audits. For creators, the platform should give them certain economic rewards based on the financial benefits brought by their works (such as estimates based on comments, likes, shares, etc.). Similarly, for consumers, the platform can incentivize users based on their time spent on the platform as well as their achievements (such as viewing time, game rankings, etc.) to further motivate them and enhance user stickiness. The platform achieves income redistribution through incentive interactions between consumers and creators. Finally, the platform should provide an interface for token monetization in the platform to achieve the circulation of virtual assets and real assets.
It provides guarantees for the digital content platform. When infringement occurs, the DAO Governance Committee makes judgments based on the evidence provided. The DAO Governance Committee also reviews the flow of assets in the platform to ensure healthy operation.
The blockchain maintains a unified ledger through a consensus mechanism. User behavior data and the value generated are directly recorded on the ledger. Each participant on the blockchain maintains a copy of the ledger, ensuring fair data sharing among all participants and solving the problem of the lack of trust. Different business activities can use different channels, where data within a channel is only visible to participants of that channel. This mechanism ensures data protection in the sharing process.
The blockchain ensures data immutability. When the original creator registers their work, a tamper-proof transaction record with a timestamp is immediately added to the blockchain. The copyright transfer process is also recorded as a transaction on the blockchain. The information recorded on the blockchain can help solve the problem of difficult evidence collection in intellectual property protection.
In reality, contracts often face issues such as ambiguous contract language and the high cost of enforcing contracts. While on the other hand, certain scenarios on the platform require the binding force of contracts, such as how to realize collaboration among multiple participants or how to incentivize consumers and creators with a certain income. Deploying smart contracts on the blockchain is equivalent to signing a real-world contract. Smart contracts are represented in code, and the interpretation of the code is unique, avoiding the problem of natural language ambiguity. Moreover, the code is automatically executed under system control. This ensures the entire process is transparent to the contracting parties.
Value circulation refers to the circulation of tokens between various key elements of the platform along with the users' activities. It is critical for forming a healthy and cyclical digital content ecosystem. Value circulation reflects the platform's operation process and is based on the following two premises.
With Wealth Message, multiple service providers can coexist. Users only need to register one account to access all the services in the ecosystem. The unified user group lowers the platform's entry threshold so that users can enjoy a diverse range of services through one account. This unification increases user retention. Additionally, the platform can provide service products that better meet users' needs based on their diverse behaviors.
