SocialX Knowledgebase

We want you to understand exactly what we are doing, why we are doing it and why you should join us on the road to success.
That’s why we want to share our knowledge with you.

Browse all questions here

  • ICO Preparations (Tech)
  • ICO Preparations (Whitepaper)
  • Pre-ICO Marketing
  • Legal Fees
  • Everything else we need for a successful ICO.

In general the ICO is to fund the success of SocialX and cover costs for the next years.

Use of funds with raised capital ICO

Use of funds with raised capital ICO

SOCIALX Tokens Distribution

Our ICO goal is yet not determined completely. We are monitoring the Crypto market closely to determine which valuation makes sense. We are currently preparing the ICO Smart Contract already with our team. Things we consider to determine the funding goal:

  • Feedback from our Presale Investors
  • Coinmarket
  • History data from successful ICOs
  • Valuation after the ICO

We have different ideas how investors earn money with SocialX after we reached a certain threshold on users :

  • Small License Management Fee for photos and videos
  • Advertisement is possible

Sure, give us a call, we are more then keen to give you a intro in the complete blockchain topic and how to buy ETH online so you can contribute to the project

  • Creating the best Tech available
  • User Growth to at least 10 Million Users
  • Let the mainstream user adopt SocialX instead of Non-Blockchain Apps.

ICO Stats has a good overview of the recent ICOs and its potential ROI. Please understand that its not guaranteed, but with the right product and team we can do our best to achieve maximum results. https://icostats.com/

We have the contacts already ready – so that if we closed the presale we will directly start executing this for the maximum potential of our pre sale investors and also our ICO contributors – we plan to be on exchanges max. 20 days after the ICO is closed.

The ICO will start after the pre sale and the exact starting schedule will be announced during 3 days after the pre sale ends in August.

The ICO will happen through a website socialx.network when the ICO starts on August, 25 at 4pm GMT. To participate in the ICO, you will have to send ETH to the provided address through your chosen Ethereum Wallet (e.g MyEthereum Wallet) and the SOCX will credited to your wallet automatically.

Yes. You can purchase SOCX before the ICO in our pre sale. In a pre sale phase, you will get a bonus.

No. However, each address is allowed to do only one purchase in the ICO. In order to ensure a broad and fair distribution of tokens, individuals who successfully purchased tokens from us during our pre-sale may not participate in the ICO.

Ether (“ETH”) will be the only method of payment accepted in the ICO. Pricing and Exchange Rate Mechanism One ETH equals to 1000 SOCX in the ICO. However, participants in the pre sale phase will get a bonus.

You will need the following: A) Your ETH in an ERC20 compatible wallet (Note: It will NOT be possible to send ETH from an exchange)

Yes. Contributors in the pre sale will get a bonus refer to the presale page.

The whitepaper is available at our website socialx.network

You must get in touch with us about a correction to your address before the distribution ends. Please email [email protected] with all information regarding your payment including transaction id, email, and name.

The transactions should have been rejected or not mined, your balance has not changed. Please try again with enough gas.

There are various exchanges that sell Ethereum for fiat or cryptocurrency. For example, the following: Coinbase, Poloniex, Kraken, Bitstamp, Bitfinex, Bittrex, Cex.io Please send your purchased ETH to a compatible wallet whose private keys you own and control, before sending to the ICO

Yes ofcourse we are creating a smart contract who will be able to identify each contributor of the pre sale an allocate the proper amount of token during the ICO back to the wallet of the contributor.

Yes, stay tuned for our ICO page.

We want to have the right team, early adopters and believers

Contributors, Development SocialX, User growth, Bounty Campaigns

People that help us spreading the word and later on finding and reporting Bugs. Check out our Bounty Campaign Blogpost

Check out this amazing Blogpost by Blockgeeks.

We will make sure that our Website and Slack will be well setup to prevent any phishing.

We are a Social Media Platform with the focus on Images, Videos and Livestreams.

We will cross this bridge when we have to.

Check out our Roadmap here.

People love Social Media Platforms. We are building a Social Media Platform where you make money by posting content and getting upvotes by the community. You can also just sell the rights to you content to other users who can use it for a commercial purpose. And you know why you can do that? Because YOU actually own your content, unlike on any other Social Media Platform.

Register a Coinbase account and send your ETH to your MyEtherWallet and then send it to the secure Ether Address which will be communicated during the Pre Sale and ICO.

 

If you dont know anything about Coinbase or MyEtherWallet, check this amazing Blogpost by Blockgeeks.

Your Tokens will be in your Wallet after 7 Business days.

We try our best to make sure your Tokens will be tradable within a short period of time on the exchanges like Bittrex etc.

The Tokens will be transfered to your Wallet.

As Vitalik Buterin, the 22-year-old programmer of Ethereum, explained it at a recent DC Blockchain Summit, in a smart contract approach, an asset or currency is transferred into a program “and the program runs this code and at some point it automatically validates a condition and it automatically determines whether the asset should go to one person or back to the other person, or whether it should be immediately refunded to the person who sent it or some combination thereof.”In the meantime, the decentralized ledger also stores and replicates the document which gives it a certain security and immutability.

1. In Ethereum the block time is set to 14 to 15 seconds compared to Bitcoins 10 minutes. This allows for faster transaction times. Ethereum does this by using the Ghost protocol.

2. Ethereum has a slightly different economic model than Bitcoin – Bitcoin block rewards halve every 4 years whilst Ethereum releases the same amount of Ether each year ad infinitum.

3. Ethereum has a different method for costing transactions depending on their computational complexity, bandwidth use and storage needs. Bitcoin transactions compete equally with each other. This is called Gas in Ethereum and is limited per block whilst in Bitcoin, it is limited by the block size.

4. Ethereum has its own Turing complete internal code… a Turing-complete code means that given enough computing power and enough time… anything can be calculated. With Bitcoin, there is not this form of flexibility.

5. Ethereum was crowd funded whilst Bitcoin was released and early miners own most of the coins that will ever be mined. With Ethereum 50% of the coins will be owned by miners in year five.

6. Ethereum discourages centralised pool mining through its Ghost protocol rewarding stale blocks. There is no advantage to being in a pool in terms of block propagation.

7. Ethereum uses a memory hard hashing algorithm called Ethash that mitigates against the use of ASICS and encourages decentralised mining by individuals using their GPU’s.

Ethereum is an open-source, public, blockchain-based distributed computing platform which can execute scripts (or smart contracts) in the Ethereum Virtual Machine (EVM). The Ethereum platform provides a cryptocurrency (or token) called Ether.

The images and videos are owned by the network. There will be no centralised authority who owns all images or videos.  Moreover the rights of the media is with the content creator* that means the person who uploaded the photo or video.*If the content creator uses images or videos that he doesn’t own the community (crowd) can flag him and his media to be deleted from his account. We will create a system which does that automatically.

You got more questions?

Feel free to check out our complete knowledge base or simply write or call us. We are more then keen to answer all emails and calls.

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marcel fuessinger