The SilverCoin bounty program is back online. Last week we launched our bounty program with the intent of doing several things at once, including…
1. Advertising our ICO
2. Determining viral potential of project
3. Stress testing the affiliate system
So on Wednesday we started a Bounty thread at Bitcointalk and a Google Adwords campaign. But within 24 hours we saw so much activity that we decided to take the program offline to assess the situation before we got too far ahead.
One remarkable thing that happened is that affiliate signups went 4 levels deep and our banners appeared on multiple Facebook, Twitter and forum pages overnight.
So in regards to #1 and #2 above, it exceeded all expectations. SilverCoin is a built-in viral cryptocurrency and the implications of that are incredible.
In regards to #3, the system is working perfectly and there doesn’t appear to be much attempted fraud. However, we were able to identify potential vulnerable areas, which led to an intense week of discussion, which will be explained in our white paper (coming soon).
Essentially, we are looking at a 3-level integrative-verification protocol involving 3 key technologies (Affiliate tracking + NXT + SMS). No email or name required.
But since this verification protocol will not be available in time for our bounty program we have come up with a short-term solution that involves adding an extra step to the existing signup process.
It’s called ‘Social Media Verification’ and it’s a temporary solution to enable us to continue the bounty program while ensuring no large-scale fraud.
Social media verification means we now ask new signups to enter a link to one of their social media pages as a source of user verification. And affiliates may be sent a message to confirm their affiliate account.
Anyone who earns a payout will have to be verified at some point prior to payout.
We also had to streamline our system so we discontinued our Slack bonus. However, those who registered last week and requested the bonus will still receive it. We also made a few minor changes to the bounty program, which can be seen in the updated OP.
Thank you for your patience and interest in SilverCoin.
Our Slack is now open to the public with auto invitation.
https://silvercoin.io/bounty/