Andreas Antonopoulos once asked to define Digital Currency and who is controlling it?
His Short answer was …
It’s peer to peer, trusted algorithm which is unforgeable and it is under no one control except mathematics
Here is the more elaborative definition he quoted while delivering a speech in India about cryptocurrency (bitcoin).
It is based on open access of participatory model of market base economic competition through risk and rewards strategy based on games theoretical outcomes that ensure collaborative participation by multiple participants without anyone having the ability to cheat due to system of emergent consensus based on mathematical rules and strong cryptography to which they respond
Cryptocurrency is a buzz word and open blockchain is the technology behind it. Why it got so much recognition? World has been moving from third party to no party at all? Who will give protection/safety to users, community members, and IP protection to Content creators/publishers?
Open blockchain according to the definition of Andreas, is mathematical algorithm providing unforgeability of transactions on blockchain technology. On top of that ACG Network with its own public blockchain will give the IP owners an extra strong layer of security to their outstanding work. We called it “DDNA” hereinafter referred as Digital DNA-based Content ID certification.
What is DDNA and how it works?
DDNA is the most important part of the ACG Network Ecosystem, as well as a critical part missing in the current content ecosystem. A DDNA will be generated for each UGC (Image, text, video etc.) posted in the ACG Network as its unique ID certification. DDNA will contains the release time, ownership, licensing method and finger print of the content and it will be written on the blockchain for storage. This information in DDNA is a part of the content ID metadata missing in all internet data, as well as an important dimension to ensure the reliability of the content. DDNAs are distributed along with content across the internet serving as a certification for the reliability of the contents.
What if DDNA get Lost?
Even if a DDNA get lost during the distribution process, the original content can be retrieved from the ACG Network through content fragments. ACG Network browser plug-in and client can help users solve this problem quickly. When users read contents with plug-in enabled browser or read contents shared by other user with ACG Network Client, all traceable information will be displayed immediately as long as the contents are registered in the blockchain, whether their DDNA is available or not.
How ACGN DDNA is unique?
The ACG network will provide various SDKs and APIs to enable any website, platform or client across the ecosystem to rapidly generate the same DNAs, protect and trace the same contents. The ACG Network aims at attaching DDNA information to all high quality content across the internet to address the poor reliability of online content due to lack of ID information.