Ethersocial Whitepaper

Decentralized forum application platform using smart contract
Bitcoin, of which the blocks were first generated in January 2009, brought up global currency
innovation. This was the first case to actually utilize blockchain and to move away from the
traditionally non-reliable network to trust-based innovation using blockchain as the Bitcoin
ledger, and eventually to bring about currency innovation. Since then, the use of Bitcoin has
been steadily growing along with its technology development.

Whereas Bitcoin focused on the most basic functions of blockchain, the stable transfer and
storage functions as a currency, Ethereum of which the first block was generated in 2015,
added private contract on top of its transferring function. The first smart contract function was
used to enable private contract on blockchain without the intervention of a third party.
Ethereum, also called blockchain 2.0 following Bitcoin, is a blockchain with a perfect turingcomplete programming language embedded. This programming language allows users to
directly build private contracts according to given rules. This contract not only includes literal
contracts but also the generation of contracts in the concept of ‘generating tokens’ under
conditions that meet the rules of ERC-20. By using the condition of being an Ethereum contract,
it is possible to issue and transfer other coins on the Ethereum blockchain network, and
already countless numbers of tokens are run on the Ethereum platform.

Ethereum is a continuously developing blockchain that demonstrates tremendous
advancement. However, there are still many limitations for general users and application
developers to actually apply its functions. Also, it is very much complicated for various social
networks, communities and game websites to develop their own coins.

EtherSocial provides management tools that can generate tokens complying with the ERC-20
smart contract rules with a couple of clicks as well as API functions that are applied to various
services. Through EtherSocial, website administrators can plan, make, create, transfer, manage
and burn their own tokens.

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Ethersocial Whitepaper

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