CrypNote is Building Collaborative Notes with ‘Write To Earn’ Incentives
Blockchain tech seems to be making its way in to more and more sectors of different industries as time goes by. It has affected the worlds of finance with DeFi, the world of art with NFTs and also the video games industry with the Play to Earn model being adopted by so many game developers. Now it seems it is slowly making its way in to the world of writing – or, to be specific – collaborative note taking.
Look out Google Docs, a new player just logged on. Introducing CrypNote, a solution for decentralised note taking built on the permaweb, that also incorporates a Write to Earn philosophy. So how will CrypNote work?
How It Works
The function of CrypNote is divided into three sections: Personal Notes, Team Collaboration, and Knowledge Base.
Personal notes positions CrypNote as a note taking platform where users are able to store their notes on decentralised and permanent storage solutions such as Arweave and Filecoin.
As well as personal notes, CrypNote introduces collaborative document editing on Arweave. It will act in a way similar to web2 products that we have come to know today, like Evernote and Google Docs, but more permanent and censorship free.
The knowledge base is where Write to Earn comes in. It is open for all users and consists of an encyclopedia section and a Q&A section. Writers will be able to contribute to the encyclopedia and answer other people’s questions in the Q&A section in order to earn the upcoming CrypNote token. This will be constructed in a way where users will be able to take on tasks and bounties in order to contribute.
While the app is in its very early stages, users will be able to test out the platform by registering in a web2 fashion via email and password. But once the app is developed further you will be able to connect via Metamask. CrypNote is also set to integrate RSS3 and BrightID into its product. The storage and gas costs, while the app is in its Beta version, will be covered by CrypNote.
Arweave and Filecoin
I had a chat with the anon founder of CrypNote about the decentralised storage solutions they chose and how they would be used. They wanted to use something with high on-chain frequency interactions, so chose Arweave as the predominant solution.
However they also wanted to offer more backup assurance for their users in case of a network failure or some kind of force majeure factor, so decided to use Filecoin as a backup.
“Arweave is the most suitable. Filecoin has both advantages and disadvantages. We plan to use Filecoin as a backup”
All aspects of their app are driven by content so using any blockchain other than one that is built for decentralised permanent storage was not possible, they said. And when talking about Ethereum they said:
“We believe that web3 content interaction is high-frequency, Ethereum is not suitable for high-frequency interaction on chain.”
The CrypNote Team
The CrypNote team is made up of people in Norway, the United States and China. Even though they will remain anonymous for now, we can tell you this – the team consists of roughly 11 people.
They are made up of the founder, JavaScript and Java devs, a smart contract expert, a UI (user interface) designer and community managers on Twitter and Discord. The CrypNote founder has been in the e-commerce industry since 2009 and is an investor in many other projects too.
“CrypNote solves the content needs of different user groups in the blockchain industry.”
So it seems that even though CrypNote is in its very early stages, it may have a promising future if it is to deliver on all the key features that they hope to offer. Write to earn seems like an interesting use case for blockchain tech, and we’ll watch watching how CrypNote plan to expand on this as the product reaches a stable release.
When talking about the write to earn model, CrypNote had this to say.
“Token issuance is not the most important point, but the token economic model is very important. Write to Earn needs a positive cycle and needs to bring high-quality content. In short, product development should be done first, and users and content should be accumulated.”
We look forward to seeing how this all plays out and will keep you updated.
