Contentos Integrates Chainlink To Better Calculate the Advertising Value of Cross-Platform Content Creators
We are excited to announce that Contentos, the public blockchain for global content, will collaborate with Chainlink, the world-class decentralized oracle network. Chainlink will be the official oracle of Contentos, providing high-quality data to our blockchain via its secure and reliable oracles to power next-generation content valuations for the advertising industry.
Chainlink allows Contentos to access accurate performance metrics from a variety of content spread across different platforms, which can all be stored as immutable records on the Contentos blockchain. The cross-platform performance data can be aggregated and compared historically to better calculate the current and future value of content creators. These valuable new data sets can be used to facilitate cash advances to content creators, enable tokenized investment in future revenue streams, create more detailed understandings of the content industry as a whole, and much more.
Chainlink Gives Contentos Direct Access to Real-World Data
Contentos is currently the most widely used public blockchain for digital content in the entire world. It brings value back to content creators by directly monetizing their content via distribution of the native token COS. It also incentivizes consumers by rewarding the creators they deem most valuable, enabling users to support their favorite content without direct funding.
The video content platform COS.TV and the photo editing App PhotoGrid are both based on Contentos blockchain. COS.TV experienced huge growth in 2019, and currently has more than 3.46 million creative videos. According to Alexa.com rank, the traffic of the COS.TV website exceeded Steemit.com in January 2020. The statistics shows that COS.TV web DAU has reached 153,777 and the App DAU has reached 69,864, making the total DAU 223, 641. Additionally, PhotoGrid has been downloaded by over 10 million people worldwide.
In order to evolve as a content platform, Contentos needs to be able to interact directly with data that exists within existing content infrastructure such as from Youtube, Twitter, Instagram, etc.
An oracle is a bridge that connects the blockchain and the real world. It brings external information into the blockchain, allowing it to be used in different computational processes. Without oracles, blockchains would be disconnected from the massive pool of valuable data and resources existing in the real world.
After doing extensive due diligence on oracle infrastructure, we selected Chainlink as by far the best oracle solution in the market across all important criteria. Chainlink, a decentralized oracle network, allows us to create an oracle mechanism that’s as secure and reliable as the Contentos blockchain. Through Chainlink, Contentos can source and aggregate data from numerous sources using multiple independent, Sybil resistant, and security reviewed oracles. This ensures that Contentos only takes in highly accurate data that is resistant to central attack vectors.
Importantly, Chainlink gives us access to credentialed APIs, which are essential to our specific use case. Contentos needs to source data from well-known data companies, such as Youtube, Twitter, and other popular content platforms to evaluate the total value of cross-platform content. Accessing this kind of credentialed data is not free and is highly unreliable and subject to Sybil attacks if accessed through a third party. Chainlink is the only oracle solution capable of giving us a direct connection to high-quality credentialed data APIs, enabling the creation of a trusted, robust, and consistently up-to-date content valuation platform.
Using Chainlink To Aggregate Advertising Value Across Platforms
Combining Chainlink’s high-quality data with the Contentos public content blockchain fosters the development of a highly reliable content valuation platform for the advertising industry. Contentos act as a central warehouse for taking in the performance metrics of content creators across multiple different platforms. The performance data can be written into blocks and confirmed by the Contentos blockchain, engraving it as a public record.
Advertising agencies can analyze the cross-platform performance data of content creators across various time frames to project their current and future value.
For example, Contentos uses Chainlink to calculate a specific content creator’s future advertising effect. It starts by accessing various content platform APIs, such as Youtube for video viewership and user behavior, Twitter for activity and engagement, and Instagram for followers and story views. Chainlink oracles source updates on these key performance metrics every week and put them into blocks on the Contentos blockchain. These updates are confirmed and written into the Contentos blockchain, becoming immutable historical records.
Advertising agencies use this historical data to project this content creator’s future promotion effect, based on a weighted calculation of how often the release content, their rate of growth, their viewership per video, etc. Their calculated promotion effect can be leveraged by both parties as the basis for a more intelligent settlement method in contract negotiations. Creators can use the performance metric to raise money, tokenize equity in future content, or recieve stable cash installments based on projected revenue streams. Advertising agencies can better determine the worth of content creators, as well as automate payment to influences based on their monthly performance scores.
Ultimately, it opens up a new DeFi platform for the content industry that is only scratching the surface. A data-enabled decentralized content ecosystem would be impossible for Contentos to create without Chainlink connecting it with real-word data. We are excited to work with Chainlink as our official oracle solution to pioneer the first DeFi platform for a wide variety of content services.
“The influence of a creator’s content is a cross-platform metric, and the influence directly reflects the value of advertising. Contentos will obtain a much wider and detailed perspective on content influence by using Chainlink’s world-class oracle network to source data securely from all the major content platforms and to write it into the Contentos blockchain. By doing so, advertisers can maximize budgets using more accurate performance data, while content creators get access to a new set of DeFi services for financing and monetizing content. “ — Mick Tsai, Founder and CEO of Contentos.
Contentos (COS) is a decentralized global content ecosystem, which is invested jointly by Matrix Partners China, IDG, Gobi, and supported by Ontology, DHVC, Node Capital, Binance Lab, LD Capital, etc. Contentos aims to build the world’s best public blockchain platform that brings values back to content creators and users.
Contentos has reached a strategic partnership with the photo-editing tool PhotoGrid, the well-known live broadcast platform LiveMe, and the short-video platform Cheez. These three products have brought Contentos millions of global content creators and 60 million monthly users. In addition, Cheetah Mobile’s CleanMaster and related game products are also directly involved in the Contentos ecosystem.
If you’re a developer and want to connect your smart contract to existing data and infrastructure outside the underlying blockchain, reach out to us here. We can help you quickly and securely launch your data-enabled application or Chainlink Price Reference Data Contract on mainnet today. Learn more by visiting the Chainlink website, developer documentation or follow us on Twitter or Reddit. You can also join the technical discussion on Discord.
Chainlink is a decentralized oracle network that enables smart contracts to securely access off-chain data feeds, web APIs, and traditional bank payments. It is well known for providing highly secure and reliable oracles to large enterprises (Google and Oracle) and leading smart contract development teams such as Polkadot/Substrate, Synthetix, Loopring, Aave, OpenLaw, Conflux, and many others.
Note: chainlinkecosystem.com does not claim any ownership of this content, all credit to Contentos, view official announcement.