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What is NFTBooks (NFTBS) All About?

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NFTBooks (NFTBS) is a project dedicated to promote NFTs in the form of books, magazines, articles, ebooks, and other publications. The idea claims to be a marketing tool for authors, allowing them to sell their works and receive passive income, meaning the author will profit every time someone reads it. The NFTBooks (NFTBS) platform also aims to enable people to read books for a fraction of the price.

The Way NFTBooks (NFTBS) Works

NFTBooks intends to promote the popularity of books while also addressing the problem of paper waste in the book industry. The creators of NFTBooks explain in their official whitepaper that while a person can view hundreds of movies for $20, they cannot buy numerous books for the same amount of money. Instead, people choose for pirated editions, which is harmful to the author’s work as well as the book business as a whole.

As an extra option, NFTBooks intends to support authors by promoting their books to readers who will be able to read them for a fraction of the cost of purchasing them physically. Furthermore, the profit that the authors receive from their book readers is ongoing.

The NFTBooks ecosystem is made up of five parts: author, translator, lessor, reader, and investor.

Author

Each author acts as their own publisher. This can save a lot of money when it comes to allowing authors to approach users. Despite the fact that any author can publish their book for free, the community will choose which books are published in order to maintain the demand-supply balance.

Because the project is built on cryptocurrency, it will be decentralized. So that’s why a  person’s actions cannot have a negative effect on the publication of a book. The author is the first audience for the NFTBooks project. The authors have the right to book publication as well as earnings on sales of their works. In order for this solution to be balanced, the author must be capable of increasing their worth. After that they will be able to commit enough time and effort to support the project and give back to the community.

Translator

Translators make books and authors accessible to anybody in any language, anywhere in the globe. The first thing that translators shoud do is  registering with the system’s Author in order to upload the translation. You won’t have to worry about the quality of the translation because the community of readers will help you judge it. If the quality of the translation is poor, members of the community will notify you.

The Translator gets paid the same as the Author, however because the Author is the essence of the book, the value they are paid is determined by the Author. The Translator is the one who conveys passionate love throughout the world. The commission is set by the Author to decide the amount of commission the Translator will receive from the beginning.

The value between them can only be decided after the contract is signed by them, which serves to ensure fairness and clarity.

Lessor

Lessors buy books from authors or other Lessors. They make money by renting out their book rights or selling their works to the public. Becoming a  Lessor is not a hard thing if the economic conditions are right. This audience is crucial to the success of NFTBooks. They support the author in the way of earning money while also offering readers to read for a lower price.

Reader/Borrower

In terms of macro value, this is the group that will profit the most from the project; as NFTBooks spreads, more Readers will be able to borrow books at convenient prices as Lessor competition increases.

As a result, when the amount of people who read their books increases, they will make more money. Basically, increased readership means increased author earnings.

Investor

These are the people who want to help out with the project. Whether they are helping the community or investing for personal gain, they have a high prestige in the NFTBooks community. Books can be rented, purchased, or published with tokens.

They earn money by holding tokens in their wallets, transacting online, or buying books from Authors using tokens. Every network transaction earns them a commission, and the number of coins in their wallet grows until they make a profit.

What is NFTBS Token?

Binance Smart Chain token $NFTBS was launched in June 2021. One important  feature is the built-in redistribution system, which has a maximum supply of 100 quadrillion.

As an incentive, existing $NFTBS holders receive 2% of each transaction (buy or sell). Thanks to this fact, their bank accounts continue to grow on their own.  The $NFTBS token undergone a security inspection to increase the trust of its holders. The $NFTBS token will be the  only currency that can be used to create, claim, buy, and sell books.

A third-party firm checked the source code to ensure that NFTBS holders have faith in the project.

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Interesting Knowledges About Satoshi Nakamoto’s Identity

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silhouette of man
  • Who is Satoshi Nakamoto? Satoshi Nakamoto is the pseudonym used by the unknown person or group of people who created Bitcoin, the world’s first and most widely used decentralized digital currency. Nakamoto’s true identity has never been revealed, and the individual or group behind the pseudonym has remained anonymous.
  • Hal Finney, Nick Szabo, and Adam Back as potential candidates for the identity of Satoshi Nakamoto Hal Finney, Nick Szabo, and Adam Back have all been suggested as potential candidates for the identity of Satoshi Nakamoto, the pseudonym used by the creator of Bitcoin. However, none of these claims have been independently verified and the true identity of Nakamoto remains unknown.
  • How to determine the identity of Satoshi Nakamoto If one were trying to determine the identity of Satoshi Nakamoto, they might consider using a variety of investigative techniques and tools, such as analyzing the writing style and language used in written materials attributed to Nakamoto, examining the technical expertise required to create Bitcoin, analyzing the timing of the release of the Bitcoin white paper and the first block, and examining the online activity of potential candidates.
  • Is there any secret message on the nickname “Satoshi Nakamoto”? There is no evidence to suggest that the pseudonym “Satoshi Nakamoto” has any hidden or secret meaning. The name was chosen by the individual or group behind the pseudonym as a way to remain anonymous while publishing the Bitcoin white paper and creating the Bitcoin network.
  • Relationships between Satoshi Okamoto, the cypherpunk movement, Hal Finney, Dorian Nakamoto, and Bitcoin Satoshi Okamoto is a Japanese philosopher and economist who is not known to have any direct connection to the development of Bitcoin or the cypherpunk movement. Hal Finney was a computer scientist and cryptographer who was an early adopter of Bitcoin and is known to have had a close relationship with the individual or group behind the pseudonym “Satoshi Nakamoto.” Dorian Nakamoto is a person who was incorrectly identified in a 2014 article as being the creator of Bitcoin. Dorian Nakamoto has no known connection to the development of the cryptocurrency or the cypherpunk movement.
  • Is Dorian Nakamoto’s real name Satoshi Nakamoto? Yes, Dorian Nakamoto is the real name of the person who was incorrectly identified in a 2014 article as being the creator of Bitcoin. Dorian Nakamoto’s name is often written as “Dorian Prentice Satoshi Nakamoto.” Despite being incorrectly identified as the creator of Bitcoin, Dorian Nakamoto has no known connection to the development of the cryptocurrency.

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How to create token on Avalanche?

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To create a token on Avalanche, you will need to have an Avalanche wallet and some AVAX, the native token of the Avalanche network. AVAX is used to pay for transaction fees and other services on the Avalanche network.

Here is a brief overview of the steps involved in creating a token on Avalanche:

  1. First, you will need to choose a name and a symbol for your token. The name and symbol should be unique and should not be already in use by another token on the Avalanche network.
  2. Next, you will need to decide on the total supply of your token. This is the total number of tokens that will be created and minted on the Avalanche network.
  3. Once you have chosen a name, symbol, and total supply for your token, you can use the Avalanche blockchain to create your token. This involves submitting a “minting transaction” to the Avalanche network, which will create your token and add it to the Avalanche blockchain.
  4. After your token has been created, you can use it for a variety of purposes, such as creating a decentralized application (dApp) or running a crowdfunding campaign. You can also trade your token on decentralized exchanges that support trading on the Avalanche network.

If you want to create a token on Avalanche using a smart contract, you will need to write the code for your smart contract. Avalanche supports the use of smart contracts written in a variety of languages, including Solidity and JavaScript. Here is an example of a simple smart contract written in Solidity that could be used to create a token on Avalanche:

pragma solidity ^0.7.0;

// This is a simple ERC-20 compatible token contract
contract MyToken {
  // The name of the token
  string public name;

  // The symbol of the token
  string public symbol;

  // The total supply of the token
  uint256 public totalSupply;

  // The balance of each address that holds the token
  mapping(address => uint256) public balanceOf;

  // The constructor of the contract, which sets the name, symbol, and total supply
  constructor(string memory _name, string memory _symbol, uint256 _totalSupply) public {
    name = _name;
    symbol = _symbol;
    totalSupply = _totalSupply;
    balanceOf[msg.sender] = totalSupply;
  }

  // A function that allows the owner of the contract to mint new tokens
  function mint(uint256 _amount) public {
    require(msg.sender == owner);
    totalSupply += _amount;
    balanceOf[msg.sender] += _amount;
  }

  // A function that allows users to transfer tokens to other addresses
  function transfer(address _to, uint256 _amount) public {
    require(balanceOf[msg.sender] >= _amount);
    balanceOf[msg.sender] -= _amount;
    balanceOf[_to] += _amount;
  }
}
  }

  // A function that allows users to transfer tokens to other addresses
  function transfer(address _to, uint256 _amount) public {
    require(balanceOf[msg.sender] >= _amount);
    balanceOf[msg.sender] -= _amount;
    balanceOf[_to] += _amount;
  }
}

This smart contract defines a simple ERC-20 compatible token that has a name, symbol, and total supply. It also includes functions for minting new tokens and transferring tokens to other addresses.

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How to create your own token on Solana?

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To create a token on the Solana blockchain, you will need to have a Solana wallet and some SOL, the native token of the Solana network. SOL is used to pay for transaction fees and other services on the Solana network.

Here is a brief overview of the steps involved in creating a token on Solana:

  1. First, you will need to choose a name and a symbol for your token. The name and symbol should be unique and should not be already in use by another token on the Solana network.
  2. Next, you will need to decide on the total supply of your token. This is the total number of tokens that will be created and minted on the Solana network.
  3. Once you have chosen a name, symbol, and total supply for your token, you can use the Solana blockchain to create your token. This involves submitting a “minting transaction” to the Solana network, which will create your token and add it to the Solana blockchain.
  4. After your token has been created, you can use it for a variety of purposes, such as creating a decentralized application (dApp) or running a crowdfunding campaign. You can also trade your token on decentralized exchanges that support trading on the Solana network.

If you want to create a token on Solana using a smart contract, you will need to write the code for your smart contract. Solana supports the use of smart contracts written in the Rust programming language. Here is an example of a simple smart contract written in Rust that could be used to create a token on Solana:

use solana_sdk::{
    account::Account,
    instruction::{Instruction, InstructionError},
    pubkey::Pubkey,
};

#[derive(Debug, PartialEq)]
enum Error {
    WrongInstruction,
    WrongArgumentLength,
    NotEnoughFunds,
}

impl From<Error> for InstructionError {
    fn from(e: Error) -> Self {
        match e {
            Error::WrongInstruction => InstructionError::InvalidInstructionData,
            Error::WrongArgumentLength => InstructionError::InvalidArgument,
            Error::NotEnoughFunds => InstructionError::AccountBalanceInsufficient,
        }
    }
}

#[derive(Debug, PartialEq)]
struct Mint {
    pub mint_account: Pubkey,
    pub recipient_account: Pubkey,
    pub amount: u64,
}

impl Instruction for Mint {
    fn account_keys(&self) -> Vec<Pubkey> {
        vec![self.mint_account, self.recipient_account]
    }

    fn execute(
        &self,
        accounts: &[Account],
        _data: &[u8],
    ) -> Result<(), InstructionError> {
        let mint_account = &accounts[0];
        let recipient_account = &accounts[1];

        if mint_account.executable {
            return Err(Error::WrongInstruction.into());
        }

        if mint_account.lamports < self.amount {
            return Err(Error::NotEnoughFunds.into());
        }

        let mut new_mint_account = *mint_account;
        new_mint_account.lamports -= self.amount;

        let mut new_recipient_account = *recipient_account;
        new_recipient_account.lamports += self.amount;

        Ok(())
    }
}

This smart contract defines a “mint” instruction that can be used to create new tokens and transfer them to a specified recipient account on the Solana blockchain. It includes checks to ensure that the minting account has enough funds to mint the specified number of tokens, and that the instruction is not being executed from an executable account.

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Disclaimer: ATHCrypto's content is meant to be informational in nature and should not be interpreted as investment advice. Trading, buying or selling cryptocurrencies should be considered a high-risk investment and every reader is advised to do their own research before making any decisions.