CANDAO - DETAILED OVERVIEW OF THE PRODUCTS AND TOKEN APPLICATION
Matchify & Candao Chain
Product explanation
As already mentioned in the activity tokens section, each interaction performed by Candao ecosystem participants is recorded as an on-chain transaction, meaning that everything Candoao members are doing on the platform is either a transaction between two wallets or a token. Please refer to the table below for a better understanding of that concept.
Table - activities as on-chain transaction
Activity type
On-chain explanation
Publishing a feed/comment
Step 1 - A new NFT is being minted and stored on the global wallet of the Candao social platform. The contents of feeds are converted to hashes with the appropriate metadata.
Step 2 - A new wallet address is created and linked to the NFT. This wallet address is reserved for fungible activity tokens, such as likes and dislikes.
Following/unfollowing a profile
Each digital ID created on the Candao platform comes with a dedicated back-end sub-wallet for activity tokens. If someone follows your profile, one subscription token will be added to your activity sub-wallet.
By unfollowing a profile, you remove that token from your wallet.
Liking/disliking a feed
Similarly to the previous section, like and dislike tokens are combined into a single sub-wallet that is generated and connected to the feed NFT.
The above transactions are on-chain operations, meaning they can be traced directly via Polygon transaction scanners. Still, the specification of the above interactions requires a dedicated interpreter to extract additional metrics related to NFT-IDs, their overall cross-chain activity history, and past interactions recorded on the Candao platform. The combination of this data is what essentially creates the CandaoChain, and its interpretation and visualization will happen via Metascan (please refer to the next section for more details).
CandaoChain data is expected to become extremely usable and valuable in a relatively short time, hence it is planned to be fuel for another back-end Candao product; Matchify.
Matchify is a publicly verifiable smart contract interpreting CandaoChain data logs and building social recommendations for the Candao member. It allows anyone to view and analyse their own activity logs and decide how they should be interpreted.
It essentially means that anyone joining Candao will be able to:
- Decide if and how their activity should be processed by recommendation engine
- Adjust strength by which specific activity should be interpreted (e.g. instruct Matchify to ignore specific searches or interactions for future recommendations)
- Reset activity logs and force Matchify to start interpretation process from the beginning (activity logs are still stored on public chain, but Matchify will be collecting data starting only from specificing point of time)
- Turn-off Matchify completely, which would mean all feed recommendations would be completely random and not affected by user activity.
Pic. 8 - Candao Chain, MetaScan and Matchify
Last modified 4mo ago
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