SnipCoin Whitepaper

Abstract

News is broken. A small group of corporations decide which information is worthy of
print, promoting clickbait and biased articles, and people who create great content are
rarely rewarded for their hard efforts. No wonder that trust in the media is at an
all-time low.

Snip is a new type of news platform, decentralized and powered by the community. On
Snip, anyone can write a news story about any topic, and readers can find news that
matters to them. Contributors are rewarded with tokens according to the popularity of
their posts and comments. A community-based news site, owned by the community,
can become the top news site in the world and cover any subject, from breaking news
to entertainment and everything in between.

The content on the platform is personalized for each user using an open-source
newsfeed algorithm, and users can choose their own algorithm. Since people prefer
reading short and concise stories, the default algorithm assigns higher value to short
content.

At Snip we strongly believe that there shouldn’t be a single arbiter of the truth and that
relying on content selected by the mainstream media is a form of censorship. Snip
content is not censored and is stored in a decentralized manner. Users will choose their
own trusted content filters, allowing them to ignore specific words or sources of
content, but any legal content meeting basic community standards (e.g. not spam) will
be allowed to stay on the platform

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SnipCoin Whitepaper

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