What is Number Protocol (NUM)?
Numbers protocol is a solution on the blockchain created to capture, store, access, and validate photos and videos. With just your smartphone camera, you can become a part of this ecosystem created to maintain the authenticity of photos and videos. The platform prides itself on being fully decentralized in its operations. You could look at the project as the Web 3.0 version of Instagram.
One of the platform's features is the Capture App, which is the very first decentralized Web 3.0 camera. It allows users to take photos and immediately store them on the blockchain. By storing it on the blockchain, the creator of the photo ‘copyrights’ it. It cannot be stolen or used without the approval of the owner. Also on the Capture App, you can turn your photos into NFTs with just a few clicks.
Moreover, the project has an NFT marketplace called Capture Club. On this marketplace, users can list their NFTs created on the Numbers protocol. There is also an NFT search engine where users can learn about the history and ownership of photos turned into NFTs. This search engine helps prevent fraud and theft of photos. Users can see the certificate of ownership of the photos on the platform, and also confirm the history of these photos on the protocol’s Verify website.
Finally, for developers, the Numbers Protocol offers the Seal API. This is a set of tools that allows developers to seal and retrieve photos captured and stored on the protocol.
The NUM token is the native utility token of the project. This token is used for various activities on the platform, which we'll discuss as we progress, but for now, you can check the live NUM price on the Numbers Protocol price chart featured above.
Apart from being end users, people can also become network validators on the Numbers Protocol. These individuals are responsible for the accessibility and trustworthiness of the photos on the platform. The validators assist with integrity checks that involve confirming the authenticity of the photos and videos uploaded.
Besides, the protocol also has a data library segment and a network-chain history. The data library has features that help maintain the integrity of the contents on it. These features include a file storage system for content and metadata storage and an integrity blockchain for the storage of content integrity records. Besides, it also includes the Coalition for Content Provenance and Authenticity (C2PA) mechanism for the certification of the sources and histories of photos and videos. This helps prevent bad actors from claiming the work of others.
Use Cases of NUM Tokens
As earlier mentioned, there are many things you can do with the NUM coin. These include creation, verification, and proofs.
To create photos and videos on the platform, you will have to pay to register your work on the network. All registered photos and videos are stored in the data library.
As a validator on the network, you can earn NUM crypto tokens by validating the metadata and history of content on the protocol. In addition, storage providers are also paid NUM tokens for their services.
You can also make money on the Capture Club by selling your photos and videos as NFTs. Payments for this are made using NUM tokens.
Furthermore, if you find a photo that catches your attention, you can acquire the license to use that photo by making a payment to the network in NUM tokens.
Interested in acquiring Numbers Protocol coins? Before doing that, don’t forget to check out the current and the previous Numbers Protocol price above.
Who Founded Numbers Protocol?
The project was founded in May 2019 by Bofu Chen and Tammy Yang.
Bofu serves as Co-CEO with Tammy. He is also the CTO of the platform. Bofu is a graduate of computer science from National ChengKung University in Taiwan. Before the project, he worked at Canonical as an engineering lead. He is also the founder and CEO of DT42, a firm, building solutions for artificial intelligence and deep learning.
Tammy is a physics graduate from National Taiwan University. She also holds a master's degree from the University of Manchester UK. She was a co-worker with Bofu at Canonical and she has also worked as a data scientist at Viscovery Visual Search.
The team is backed by angel investors which include Phil Chen, Stephen Chen (former CTO at Youtube), and Kevin Lin (co-founder and COO of Twitch).
NUM Tokenomics
The NUM token is based on the ERC-20 token standard but it can be bridged to the BEP-20 token standard as well. The maximum supply of NUM is 1 billion tokens. The tokens have been distributed to key sectors of the Numbers protocol ecosystem. 27% of the tokens were reserved for staking rewards, 10% for liquidity, 22.8% for ecosystem rewards, and 0.5% for marketing. The private and public sales got 17.5% and 3.2%, respectively. The team, advisors, and consultants got a combined allocation of 19%. These allocations have different release schedules.
To learn more about the current NUM price, check out the aforementioned Numbers Protocol price chart.
