It is estimated that Facebook now has more than 2.05 billion monthly users worldwide.
It is no overstatement to say the past decade social media has transformed the way that we live. It is now completely entrenched in most people’s day to day activities.
Sharing your thoughts, insights, photos and videos through social media is now completely natural for most people.
Despite the growth of social media it is certainly not without its problems. Fraudulent accounts, profiting from users data and privacy invasions are just some of the issues that traditional social media platforms currently face.
Blockchain technology offer exciting new ways to address some of the problems. Already the runway success of the blockchain based social platform Steemit demonstrates that there is strong demand.
The newest entrant into this arena of blockchain enabled social platforms is SocialX. Unlike Steemit, SocialX has a strong focus on photo and video sharing. It also aims to create a much simpler to understand model, compared to Steemit.
To raise funds for the development of the platform SocialX is running an Initial Coin Offering (ICO). Here we’ll look at some of the key questions about SocialX and it’s upcoming ICO.
What is SocialX?
SocialX is a decentralised social media platform. Using the SocialX users can keep photos and videos either private or public. They can also choose whether they want to distribute the content they upload either for free or get paid in SOCX tokens.
What is SOCX token?
SOCX is an ERC20 compliant cryptographic token based on the Ethereum blockchain. SOCX is the native token used for paying for content and services on the SocialX platform.
How many tokens will be created?
The total supply of SOCX tokens will be 90 billion.
What will the price of SOCX be set at?
During the ICO the exchange rate for SOCX will be 1ETH is equal to 12,500 ETH.
When does the ICO start?
The ICO is set to begin on 15th of January 2018.
Will SOCX be listed on a cryptocurrency exchange?
The plan is to list SOCX on at least one of the major exchanges shortly after the finish of the ICO. After that SocialX wants to have SOCX listed on a number of different exchanges.
Where can you find more information about SOCX?
You can learn more about SOXC by visiting:
SocialX Website: https://socialx.network/
Social X Whitepaper: https://socialx.network/whitepaper/