Lucyd Lab Blockchain Breakdown
How Blockchain Fuels Lucyd
By Harrison Gross, Cofounder
One of the most common questions put to Lucyd is why we need a blockchain. There are a lot of useful applications on our AR platform, but the answer is actually straightforward.
In a similar fashion to the Internet connecting people and ideas from all over the world, blockchain can enhance, spread and protect data by putting it on a peer-to-peer, decentralized network. A network or marketplace operates more smoothly and fruitfully when it is assuredly fair, with a transparent authority shared by the userbase. At Lucyd, we recognize that a mainstream AR platform will be bigger than any one idea, bigger than any one company. So we are trying to open the software marketplace for our platform to the developers of the world, to be built, experienced and controlled by the community. By using blockchain to democratize the content creation and moderation process, we are attempting to build a self-sufficient ecosystem, which can grow much faster than traditional app stores. The Lucyd Lab blockchain will organically promote well-received apps and media, while systematically deleting harmful or useless content, all while letting developers keep more of their app revenue. With the Lab, we can lay the foundation for a smartglass that combines ergonomic, next-gen hardware with an active and engaged developer community.
To improve processing speed and economic utility, functions on a blockchain typically operate on peer-to-peer cryptocurrency tokens. These tokens are used to represent monetary value in the network. Tokens are typically rewarded to “miners” and server owners who supply computing power to operate the blockchain. In the case of Lucyd Lab, LCD tokens are mined by developers and users for community-building efforts, as well as by sharing storage of app and content data. Developers can mine LCD by creating positively rated content, and users can mine LCD by participating in reviews, bounties, referrals and promotional content. LCD can be used to purchase content from the network, hardware from Lucyd, or sent in peer-to-peer transactions. We are also seeking to list LCD on token exchanges after the token event, to enable it to be easily traded with other crypto. We envision all utilities of the token, and all developer and user activity, taking place entirely within the AR interface of Lucyd Lens.
By operating our marketplace on a token, we can speed transactions, enable smooth micro and macro-transactions, organically reward successful developers, and conveniently bridge real world value with value in our virtual AR marketplace. We can also allow users to experience content on our platform without exposing sensitive personal and financial data, thanks to the anonymous nature of crypto. By removing the costs and limitations of traditional banking and centralized control, our marketplace can grow faster, operate more efficiently, and let developers keep all of their app revenue except for minimal network fees. We also envision enhanced functionality with other Ethereum-based projects, because many could be accessed through our platform, with LCD tokens being easily converted to the token needed at hand. Not too far in the future, we plan to incorporate a hardware wallet into the Lens, so you can hold all your crypto offline in your glasses. This will enable you to store and access your crypto in a single handsfree wearable. This feature could also add biometric security keys to unlock your funds, such as voice pattern recognition or interpupillary distance (through eye tracking sensors).
To help manage the peer-to-peer marketplace on Lucyd Lens, we are implementing a modified proof-of-stake system based on developer ranks. Since it will be easy to create new apps and media for our AR platform, and profit from them if you are successful, we envision a diverse and rapidly growing developer community. A developer’s rank determines the level of exposure his or her content receives in the Lab storefront. The developer rank can be raised by creating noteworthy content, possessing large amounts of LCD, or directly by Lucyd. Similarly, it can be lowered by creating poorly rated content, or violating the terms of the Lab. Within each rank is a bracket of levels, the higher of which have a numerical advantage in promotion of their content, and in the influence their ratings have in helping to promote and eliminate content. The colored hexes will be used to clearly indicate the source of the content. Ranks will most likely be rewarded by the blockchain once a requisite benchmark is passed, or appointed by Lucyd. This is only an early blueprint of the system, it is still undergoing development.
<CORE> Lev. 99-100
This rank is for vital Lucyd firmware and operating system content, as well as updates, patches, and apps developed internally at Lucyd.
Level 99 downloads are useful but not necessary, and level 100 are needed to continue operating the Lens.
<ARCH> Lev. 90-98
The Architect rank is for Lucyd’s direct software partners, holders of 1% of the LCD supply, and individuals and companies who have consistently produced exemplary content. Architects’ content features prominently in the ecosystem, appears highest in search ratings, and is cleared by Lucyd as being safe and legally compliant. Architects can have an expanded virtual storefront, called a Lab, to create a bespoke retail experience for their users.
<DEV> Lev. 20-89
The majority of the active Lens community will fall into this category. Regularly creating quality content, frequently engaging in community-building activities and bounties, a one-hit-wonder app, or holding .1% stake in the network can establish you as a certified Developer. Developers can have mini-Labs to showcase their content in a custom storefront, access to additional tools, are able to sell new dev kits, and have their content featured above that of standard Users.
<USER> Lev. 1-19
You have to start somewhere. Those new to the platform will be given a User rank based on the LCD they possess, and as they begin to create, share, store, and review content it will begin to rise. Any action that helps to build or maintain the network mines LCD, with the amount ranging from .001 for a rating to thousands for major bounties.
<LEGEND> Lev. ??
This is a legacy rank for strong supporters of the Lucyd ICO. It comes with special content promotion benefits, double ratings influence for your level, and the ability to hide your level from others.
In conclusion, blockchain can power a self-sufficient, community-owned marketplace for our smartglass hardware. There is no better mechanism available right now to create and moderate an AR app store that’s fast, efficient, and automatically incentivizes quality content creation. Once we create a practical, comfortable pair of AR smartglasses, we will need a foundational software ecosystem to support them–and we think blockchain is the answer, because it enables an efficient, borderless and peer-to-peer network. Please leave your thoughts and suggestions here, or bring to our Telegram community. Lucyd is expecting to launch its full AR blockchain platform in mid-to-late 2019.