The Itheum Protocol has introduced a revolutionary approach to data ownership and exchange in the Web3 space. By incorporating Data NFTs and a blockchain-agnostic XP system, Itheum aims to tackle the challenges of user engagement and community growth while maintaining trust and security.
One of the major obstacles in the Web3 space is the presence of malicious entities such as bots and bad actors. These entities undermine the foundation of trust and security that the Web3 ecosystem strives to establish. This issue is particularly evident in sectors beyond decentralized finance (DeFi), where projects focused on NFT infrastructure struggle to attract active participation.
To address this problem, the Itheum Protocol has implemented an XP system called BiTz. XP systems have proven to be effective in boosting user engagement in the Web3 landscape. However, for these systems to reach their full potential and attract a diverse user base, they need to be independent of any specific blockchain protocol. By creating a blockchain-agnostic XP system, Itheum allows users from any blockchain protocol to participate, expanding its reach and impact.
The Itheum Protocol leverages blockchain technology to enable data ownership and trade through Data NFTs. This innovative approach aims to transform data management by ensuring security and transparency. The BiTz XP system, which is an integral part of the Itheum ecosystem, enhances user engagement and distinguishes legitimate users from malicious entities. Unlike other XP systems, BiTz is not limited to a single blockchain but integrates with Itheum’s omni-chain features, allowing users from various blockchains to mint their data as Data NFTs.
The BiTz XP system incentivizes users to actively participate by rewarding them based on their accumulation of BiTz, the smallest data XP unit within the Itheum Protocol. Leaderboards play a crucial role in fostering competition and community among users. Top performers receive benefits such as airdropped Data NFTs, boosts on monthly Itheum Trailblazer quest rewards, and future perks like giveaways and merchandise.
To acquire BiTz, users must possess a BiTz-compatible Data NFT in their wallet, which enables them to participate in the “Get BiTz” game. Initially, these Data NFTs were distributed to early supporters through airdrops. However, users who missed out on the airdrops can purchase BiTz-compatible Data NFTs on various NFT marketplaces. The game is playable every 6 hours (reduced to 3 hours during the launch window), and users are required to “burn” a meme as an offering to the BiTz Generator God. The chance of winning BiTz is determined by this meme sacrifice.
In addition to playing the Get BiTz game, users will soon have the opportunity to earn BiTz points by engaging with the Itheum Protocol. Activities such as exploring and marking favorites among Data NFTs and Data Creators through the Data DEX, utilizing Data Uptime Checks, or embedding Data Widgets within the Itheum Explorer will earn users extra BiTz points. Users are also encouraged to contribute their insights and suggestions through the suggestion form, giving them a chance to influence the utility of BiTz and the development of the ecosystem.
Through these initiatives, Itheum, a participant in the Cointelegraph Accelerator program, aims to address the challenges of data ownership and trade in the digital economy. The leaderboard system and associated rewards reflect Itheum’s commitment to valuing user contribution and interaction, highlighting the platform’s dedication to enhancing data control and ownership in the digital age.
To learn more about the Itheum Protocol, visit their website.