Siphtor coin is a part of a bigger project that contains a social network and a central bank system to manage the digital currency exchange rate. Contact repo owners for the additional source code.
Social networks today, are completely centralized and bring very little value to content creators. There are billions of people creating amazing articles, videos, pictures, and other forms of content, but their only reward for their hard work and creativity is more followers, a few comments, and likes. While Facebook, Instagram, and Twitter rake in billions of dollars in revenue from their user’s creativity.
This is the problem that our friends at Siphtor set out to solve and we made it our mission to help them. Within only a few months, we built them a new revolutionary social network that is like nothing you’ve ever seen before.
Siphtor, the social network of the future, is a new platform that takes advantage of all of the benefits that blockchain has to offer like:
Fair Rewards - everyone receives revenue that is equal to efforts made.
Trust & Security - thanks to automatically enforcing smart contracts.
Open & Transparent - the social network and smart contracts are completely open-source to protect users’ data and make the network absolutely secure.
In order to turn this idea into a reality, we took Hyperledger Fabric framework, 3 developers for a few months, and blockchain. Now proudly introduce Siphtor the social network of today.
Siphtor combines a new-generation social network built on top of blockchain technology and its a crypto monetary fund with its own currency and custom wallets.
Monetary fund is aimed to provide the community with opportunity to trade cryptocurrencies and convert it to fiat, it also uses cryptocurrency as a payment tool for services people exchange within the platform. The main difference and the benefit of Siphtor currency is that it’s rate is managed by central monetary fund and community consensus, empowering it to act as the long-term investment tool rather than short-term trading.
Another great thing about the crypto fund is that it is completely open for everyone and acts as a standalone platform. This means that anyone can integrate Siphtor currency into a platform to replace traditional fiat transactions with a more secure and cheaper one. Of course the ability to convert back in fiat still remains along with the predictable exchange rates.
All of this makes Siphtor a great payment solution that can compete with traditional providers, bringing lower fees and more security. It also makes the platform unique in comparison to other cryptocurrencies that are mainly based on speculations and risk high volatility.