What encouraged the creation of Koii Network?
- Koii Network Koii Network
What is the history of Koii?
Traditional Web 2.0 platforms monetize by exploiting their users. Centralized social media apps aggregate photos, music, videos, and writing without paying the creators a single cent. Websites sell user data, post unskippable ads, and hide their best content behind paywalls. At best, a fraction of the value creators generate on the web ends up in their own accounts. At worst, users perform free labor while getting invisibly data mined.
Current blockchain-based “Web 3.0” solutions provide appealing alternatives by offering increased permanence, performance, and transparency in application development. However, as of this writing, these alternatives remain more theoretical proofs of concept rather than profitably mainstream. Unfortunately, most decentralized apps (“dApps”) suffer from sky-high transaction costs, expensive infrastructure, and issues with scalability. Their “profitability” is driven by bullish token speculation, not economic fundamentals. Ultimately, they have failed to help the large majority of internet users graduate from being exploited in Web 2.0 into flourishing in Web 3.0.
Koii’s breakthrough innovation is a scalable consensus protocol that tracks attention on the decentralized internet to reward reliable or creative stakeholders. This serves as the foundation layer of the Koii dApp developer framework, which provides the security, transparency, and incentivized performance benefits of blockchain-based technologies with just a few lines of code.