What Is Numbers (NUM) And How Does It Work? | KuCoin Crypto Gem Observer

2021/11/17 08:57:45

Have you ever had a photo you took or video you shot published elsewhere without your consent? If so, you know exactly the feeling that follows such a revelation.

Stealing of images is rampant online, leading to heavy losses. When caught, it’s the usual, “Oh, I’m sorry! I didn’t know!”

While it’s technically illegal to use photos without credit, many content creators go scot-free. Historically, it’s a legal grey area and is a little bit fuzzy or subjective, or largely remains situational legal or social constructs.

Luckily for photo and video creators, Numbers Protocol has jumped in to help address this problem with a new decentralised photo network for Web 3.0.

What’s the Numbers Protocol?

Numbers Protocol is a decentralised photo and video network seeking to create a community that values and trusts digital media. It seeks to repair and restore the trust in digital media that’s at an all-time low by bringing integrity and authenticity.

The new decentralised photo network for Web 3.0 allows people to trace and verify the authenticity and integrity of digital media through Num’s innovative Capture, Seal, Trace process.

How does Numbers Protocol Work?

NUMbers Protocol redresses digital intellectual property theft by having an ecosystem to verify the authenticity of an image or video and trace its history, including owners.

The pictures here have multiple data layers, including attributes such as creation certificate, ownership, content provenance, and history. The Captures’ metadata forms the building blocks of the entire photo network. And the blockchain network makes this data immutable.

To work efficiently, Numbers Protocol has participants for creating, archiving and verifying content and improving the credibility and legitimacy of the written photos.

To make the network work, it will include several tools, including:

· Asset Wallet - Holds your NUM - the token you receive for creating assets on the platform. Also, it allows you to view your Capture assets quickly.

· Camera - A camera embedded in the blockchain network lets you take photos with space-time tracking. Your images tell stories.

· One-of-a-kind Status - Your media is non-fungible.

· Network Ecosystem - Include a network of apps that store, exchange or publish your assets.

· NFT - Allows turning Capture into an NFT in one click, enabling you to benefit from your creative work.

Users archive and retrieve photos in the network using its Capture App and the Seal API for professional users. Since it's the only such project in the Web3.0 space, we might soon have the Web3.0 versions of Instagram and Pinterest with immutable features.

Who created the Numbers Protocol?

Numbers Protocol is the product of a team of four members. They include software architect Bofu Cheng, particle physics expert and data scientist Tammy Young, Business Development Expert Sophia Yan, and the Silicon Valley Venture Capitalist Phil Chen.

What is the NUM token, and what is it used for?

NUM is the cryptocurrency, or what we call the virtual tokens or coins, designed to incentivise people who create, archive, and verify content with good integrity.

The incentive mechanisms of the ecosystem are "Create to earn", "Verify to earn", and "Prove to earn."

It’s currently impossible to trace the origin of an image on the internet, let alone verify its authenticity and who owns it. But it’s much easier to copy and manipulate any image online. So, there’s neither protection of digital media nor do people trust such creations.

NFTs appeared to have restored people’s faith in authentic digital content. More intelligent, connected, and open websites, backed by the blockchain technology that creates non-fungible assets, all seemed to work. Yet stealing digital content has never been tamed.

Yes, digital assets on the Web3.0 space share three key attributes, “scarcity”, “uniqueness”, and “legitimacy”. But some NFT platforms, for example, OpenSea, allow people to download an image, create it as NFT and later sell it as their own, which still amounts to theft.

Numbers Protocol gives users total control over access to digital media. As a result, you remain totally in control of what you want to see and have the right to own any of your photos and videos.

Capture App, already available on Android and iOS platforms for free for all users in over 90 countries, is the first blockchain camera. It collaborates with service news media, storage, and NFT marketplaces to access the Web3.0 photo ecosystem.

You register an asset - verified by web 3.0 and the distributed ledger, and you can retrieve photos using the app. The retrieved image comes with content history. Then, you pay to collect the picture or get permission to use it elsewhere. What you pay goes to the system’s participants, i.e. the verifier and the original creator of the file.

That’s to say, creators are now appropriately rewarded for their products. And if creators are well motivated, they continue their excellent work. So, the quality of the images improved, unlike the current state of the internet where photos are recycled, and the metaverse is gradually becoming junk with few original files.

Final word

In its 30 years of growth, the internet has morphed from humble beginnings of a research tool and professional work to be a core part of our lives. Accessing and sharing information is quicker and much easier than before. But, unfortunately, just as it is easy to share data, it has also become much easier to copy and steal other people’s work.

Numbers Protocol aims to bring integrity and authenticity to the digital content space by creating a decentralised photo network with traceable and verifiable assets through its innovative Capture, Seal, Trace process.

Finally，KuCoin will list Numbers (NUM) and open the NUM/USDT trading pair as a world premiere on November 18th. Let's wait and see it.