DECENT was only released on the 30th of June this year and already a lot of attention has come to the project. Several interfaces have been built on top of DECENT’s core blockchain technology and their very own prototype of DECENT GO (beta) all look very promising for the Swiss start-up company. The community around DECENT has gotten a small taste of it’s potential but now they’re asking the question what more can DECENT Core actually do?
To better understand the potential which DECENT contains, Matej Boda, Founder of DECENT, recently released a statement about their blockchain technology. “DECENT is much more than just a content distribution application. It is an innovative adaptation of blockchain technology with a customizable system allowing for a plethora of applications which go far beyond DECENT GO, which is just our demonstration of a possible use-case.” – Matej Boda
The capabilities of DECENT Core, the priority product of DECENT, are far greater than the interfaces that are currently live and, as the priority product of DECENT, there will be new developments to come. To answer the burning question from the community about DECENT Core and it’s functionalities, this is a summary of what is already there, how it can be used, its interfaces and what it can actually do.
DECENT Core currently supports all transactions regarding content distribution. It enables users to create an account, publish content on the network so that consumers can buy it, rate it and comment on it. Those are the basic features of DECENT Core that are currently working and have been since their release at the end of June, 2017. To further explore the functionality, these are several features and potential use cases pertaining to the Core technology DECENT has developed.<
The first feature of DECENT Core to point out is payment splitting. At the time of publishing content on their network, one can predefine addresses which should get a share from the payment (such as co-artists that were also working on the content). This means that all of the parties that participated in creating the content can get an instant settlement from each purchase. This could be a great use case for micropayments in the media industry, especially the text media industry where all authors will be rewarded every time their content is purchased
Digital content crowdfunding, where one can set up a campaign to raise funds for some content and the fanbase of it can show support by financing its production, could work in conjunction with the payment split feature. For example, let’s say a new Star wars movie could be funded by its fanbase (PS: probably the quickest fundraising in the world). Afterwards, the publisher could set up the conditions through DECENT’s interface so that all of the participants could receive a percentage of each sell, instantly. Basically this creates an opportunity to have a Kickstarter-like interface for content crowdfunding on top of DECENT Core where contributors could actually participate on revenue sharing from each sale.
In the online marketing industry, one could use DECENT’s payment splitting feature in connection with a recommendation engine or any other data driven online marketing tool. A feature could be offered where they are able to publish content and enjoy the usage of advanced marketing tools, then pay only after the consumption of the content. Therefore, they would pay only for the actual conversion that the marketing tool made.
The goal of DECENT was to create a platform where anyone could implement multiple business models on top of their blockchain technology. In accordance with that goal, they built in a subscription transaction type as a core feature. Meaning, one doesn’t need to pay for each content published from an account, instead, if the publisher wanted, he could set a weekly/monthly fee to access his content. This allows media which have a subscription type of business model to jump on board and enjoy the benefits of DECENT’s blockchain.
When combined with the payment splitting feature, one could use it to publish unbranded content or specific data which can be sold (such as environmental data collected from sonar systems on seafaring boats). This can create new markets for data trading were we wouldn’t need to collect all the data individually for each research but instead, collaborate with existing infrastructures that are there and connect them into the DECENT’s blockchain so everyone would share the benefits.
DECENT is fueled by its cryptocurrency, DCT. As with most cryptocurrencies, DCT has high volatility and it wouldn’t be convenient for authors to publish content which could one day cost 10$ and the next day 50$. Therefore, they’ve integrated a feature that allows one to price their content in the currency they would like and the DCT price would be recalculated each time based on the market value. For example, an author sets his book price at 10$ and at the time of purchase it will have a different value in DCT, which is automatically calculated to equal the assigned amount of 10$. Additionally, this feature will be implemented for DECENT seeders where they can price their disk space in the currency of their choice and the exchange value will update automatically.
DECENT Core is open source, meaning that their blockchain technology and all of these innovative features they’ve integrated are accessible through their API. This makes the implementation of their technology into a company or developer’s new project as seamless as possible.