What Is Keystone of Opportunity and Knowledge (KOK)?
KOK is a platform that is dedicated to content and is based on transparency and fairness. The platform is available to every individual who uses decentralized blockchain technology. As stated in the litepaper of KOK, the platform was established to enable producers to receive recognition and equitable compensation. The platform also aims to make content for consumers.
There are specific aims of the KOK platform like avoidance of information monopoly, revision of the high fee system, and decreasing the instances of platform curation monopoly. Therefore, the KOK platform seeks to ensure that all content creators can fairly and equitably utilize the assets of the KOK platform. KOK also aims to guarantee true creative freedom.
As stated in the whitepaper of KOK, the present content platforms generate revenue through centralized systems. Therefore, such platforms extract a high amount of profits generated from the downloaded applications. Moreover, there are specific issues with the blockchain technology utilized by such platforms. Efficiency is a critical threat to blockchain technology, as there have been instances of fraudulent activities and theft.
Notably, there are specific utility issues to blockchain technologies as well. As mentioned in the whitepaper of KOK, the adoption of new light programming languages may decrease the reliability of chain codes and smart chain contracts. Moreover, complex smart contracts are vulnerable to security threats. In this background, the KOK platform claims to be a worthy innovation by creating a productive environment for DApps.
Another interesting feature of the KOK platform is that the platform creates a distinction between general users and view bots. Such differences are made through the staking of KOK Token within a self-verified KOK wallet. Moreover, as the platform and the operations are based on consumption by users online, creating such a distinction is further simplified.
KOK Token is the essential token of the KOK platform. The token is used for ownership, distribution, payment, and compensation for content. Notably, the distribution and issuance of KOK tokens are determined by the token's original value, circulation, and consumption volume. The rate of payment is deducted automatically on the basis of transaction demand, market circulation, and total staking figures.
KOK also allows its users to create NFTs out of content like images and videos. Through the NFTization of game items, users can establish their ownership and trade acquired items. Moreover, copyright transactions are activated through NFTing the copyright of music, images, and movies.
Operating a platform needs intense decision-making like deciding curator rewards and fee charges. KOK believes that existing platforms often judge platforms wrongly. Therefore, the KOK platform operates as a DAO, where decisions are made by individuals who stake their tokens on the platform.
History of KOK
The whitepaper of KOK was published on November 21, 2019. The team of KOK involves significant advisors like Dr. Thomas Frey, who is the director of the Da Vinci Institute in Colorado. The group also includes Jill Carrigan, who is a blockchain educator and advisor.
How Are New KOK Coins Created?
The KOK platform releases new tokens once a day to provide new coins to service providers and service facilitators. The percentage of new coins received by each service provider depends upon the percentage stake they own in the liquidity pool. In addition, some tokens issued to mobilize the platform are paid as compensation to both buyers and issuers of NFT.
The platform also provides additional rewards to token holders delegated to masternodes. An amount of profit generated within the platform is returned to the platform. In fact, holders of KOK Tokens can mine the coin in several ways using the KOK platform.
