User security to the max with SocialMedia.Market Smart Contracts


SocialMedia.Market is a decentralized influencer advertising marketplace that provides efficient promotional capacities for advertisers and bloggers. With great pleasure we would like to announce that we are launching an Ethereum based Smart Contract to secure deals made on our platform.


With Smart Contract we are able to provide a new level of advanced security and accessibility for our customers. Our goal has always been to give your business extensive promotional leverage that is accessed and operated effortlessly and here it is!


Smart Contract with its basic capabilities as well as the TSMT token (introduced for testing purposes only) are already deployed to the Ropsten testing environment. We encourage you to try it out, to personally experience SocialMedia.Market in the virtual environment. Lots of work is being done on the interface and safety measures, which will be added very soon.



What is a Smart Contract and how does it work?


Smart Contract is a blockchain protocol that helps to verify, enforce, and facilitate the procedure of performing a contract in a digital environment. Basically, employing blockchain security capabilities, they help exclude any intermediaries from deals between parties and help transparently transact and provide services or exchange valuable assets.


Smart Contracts first appeared as a concept of cryptographer Nick Szabo, in 1994. He then presumed that with the help of decentralized principles, such ‘self-executing’ contracts can be implemented. They were first introduced as a part of the Ethereum blockchain-based platform. And here they are, standing on the guard of blockchain guaranteed security.


However, Smart Contract isn’t an essential part of blockchain. Basically, Smart Contract is a code sentence, that encloses certain functions and terms, which help implement the following operations and is available only to essential parties of the deal.


Smart Contracts can:


  • Help managing agreements between users;


  • Store valuable information accessed strictly by dedicated parties securely;


  • Employ the purpose of ‘multi-signature’ accounts where any resources can only be spent upon the agreement of certain parties.



SocialMedia.Market Smart Contract


The main purpose of our Smart Contract is performing ad campaign deals and contracts in the specialized SocialMedia.Market platform in accordance with the Ethereum network capacities. Smart Contract uses internal API to keep everything flexible and secure. Right now, it is launched in the Ropsten testnet along with the TSMT testing token. It’s just a matter of time before the release of full-blown version as well as the fully-operable inside our platform SMT token see the light and start solving your particular issues.


Some of the problems SocialMedia.Market helps efficiently resolve with the Smart Contract:


  • Secure verification of all the legal nuances in deal-making;


  • Provide safe storage for balance of finances;


  • Provide means for protected transactions.




How do I employ SocialMedia.Market Smart Contracts


Forget about partners, who for some reason refuse to fulfill or ignore their contractual obligations during ad campaigns. Advertising procedures will be facilitated both for influencers and advertisers. The beta version of our Smart Contract has already been launched in the Ropsten testing environment. The basic available functionality will be significantly expanded in the upcoming Smart Contract version 2.0.0.


Particularly, with the SC 1.0.0, you will be able to conveniently perform ad campaigns with involvement of three general parties:


  • Advertiser — a person, a brand, a company or an agency that creates campaign with SocialMedia.Market platform in order to target customers via native advertising.


  • Influencer — an individual that has a power to influence a certain group of people through online presence. Influencers lead authentic social media channels with a number of followers. They join campaign and create content for advertisers.


  • SocialMedia.Market platform is the specialized, decentralized ecosystem that allows advertisers to discover, create, perform, and analyze advertising campaigns with social media influencers. Likewise, it allows influencers to join advertisers’ campaigns to monetize their channels and create more engaging content.



Summary of ultimate benefits and advantages of SocialMedia.Market Smart Contract


With Smart Contract, both parties of the advertisement campaign get ultimate security and efficiency benefits. In particular:


  • Advertisers — utterly beneficial, transparent, Smart Contract-protected ad campaigns with all the obligations fulfilled. Increasing sales and conversion rates will now be a much more failproof affair;


  • Influencers — advanced copyright protection, conflict-free payments transactions, fully transparent employment of ad campaigns.


Smart Contract will serve as a veritable type of escrow, guaranteeing transparency of advertiser-influencer cooperation based on the contractual terms and conditions and storing funds until the contract is fulfilled. It will be unified for all campaigns on our platform, which allows to significantly decrease Smart Contract creation and transactions processing commissions.


All that is left to fully release is your support as a community of users and token holders. The TSMT tokens are already available, help us out with the beta testing to experience the great potential of our solution and make it a perfectly working product. With SocialMedia.Market Smart Contract solution, you definitely won’t be obliged to pay hidden expenses during ad campaigns organization. We’ll take a good care of that!


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