Our client is a crowdsourcing company that specializes in creating solutions based on blockchain technology, AI, and ML. The target audience of this company includes communities from emerging markets whom our client intends to provide with a steady income. For this reason, our client started growing the idea of creating a social mining platform where users from developing countries could perform simple tasks in exchange for the project's native token.
Building a Decentralized Social Mining Platform for Monetizing User Activities with Unique Cryptocurrency
The business idea was fantastic, up-to-date, and worth implementing as it was initiated in 2021 when the Web3 market was on the rise. But everything didn’t happen as expected.
As all investors of this project were from different countries and had different visions of how to launch the solution, they could not compromise on how to put all their ideas into practice. What’s more, they couldn’t find a dedicated development team who could start their work immediately. So, the lack of a clear vision and action plan, as well as a skillful team delayed the process of development and could condemn the project to failure.
That’s why, the client came to Wetelo with a request to build a social mining platform to attract more investors and get the necessary funding for further product development.
How Wetelo approached the client’s dilemma
As our client needed the product as soon as possible, we involved our CTO, frontend and backend developers, project manager, and QA.
The first step in building this solution was to understand the client’s requirements and find out what features to add to make the web platform unique. That’s why, during the product discovery phase, we brainstormed to define key features.
Our objective was to create a quality, advanced, and scalable social mining platform that would help users optimize their earnings.
Developing a precise algorithm by adding logic to connect customers placing tasks with executors who can perform them
One of the challenges that arise is how to teach people to earn cryptocurrency without professional skills by performing simple social tasks. And the creation of a social mining platform can be an excellent solution to this dilemma that will help users from emerging markets to become financially independent.
Our product is a web platform developed for customers who pace tasks and executors who perform them. The platform needed to make it easy for people to find the most convenient way to earn cryptocurrency for easy work. To achieve this, we added logic and created an algorithm that includes the following:
Customers. They can place online and offline tasks to find people to do them.
Executors. They perform tasks and get payment for their work. If executors complete many tasks successfully, their rating can increase. As a result, they can get money for checking how other users perform social tasks.
Offline tasks. They can be different like planting a tree or doing shopping.
Online tasks. This category of social tasks is a broad one and can include writing posts, commenting, or just putting likes. The main focus is made on social tasks as they can be easily checked.
Payment. Grand is a cryptocurrency that can be used on this platform and converted into dollars.
With such an algorithm, we developed a reliable system that allows customers and executors to quickly get in touch and ensure the quick tasks completing.
Creating a cryptocurrency token for a social mining platform
Our main step was to create a unique cryptocurrency token for a social mining marketplace to ensure decentralized financial transactions without relying on banks. Using Grand rewards as the base currency could bring benefits to both businesses and workers.
For businesses, this was a chance to pay workers with ease. For workers, this was an opportunity not only to access a wider range of jobs and be paid in crypto but become a part of the DeFi world and turn their time into money. By creating a cryptocurrency token, we provided our client with a solution that allows more DeFi transactions and makes cryptocurrency more available for regular people.
Technology Choice: NestJS, React, and PostgreSQL for quick release
To make rapid progress within a tight deadline, we needed to opt for technologies that would speed up the development process.
For the backend, we used:
- Mongo DB
To build a scalable web platform, we chose Nest.js as its performance advantage in terms of handling multiple requests allowed us to save time and money. We focused on PostgreSQL because of its reliability, robust transactional system, and capacity to handle large volumes of data and high-traffic websites. Mongo DB has been chosen because it can store large amounts of data and allows to design scalable web applications.
For the frontend, we opted for
To create an engaging user interface, we built the frontend using React. The choice was justified as React’s component-based architecture allows to create a reusable code that can assist in further scaling the web platform. What’s more, we opted for React.js because it makes solutions flexible and maintainable.
Opting for microservices to ensure the platform’s scalability
Finally, we opted for microservices to build more manageable services that can be developed and scaled independently. This step was needed to make the social mining platform flexible and convenient. But the main thing is that our client will be able to develop their solution easily and add new features seamlessly.
Social mining platform: decentralized, advanced, and scalable
After our work was completed, the client received a decentralized, advanced, and scalable platform that can be presented to investors. This social mining platform fully meets users' needs by being a Web3 community that provides people with work and allows them to earn money.
This web platform addresses employment issues for users from emerging markets and reveals the true power of blockchain and DeFi operations. What’s more, this social mining community is a safe and transparent place for all involved.
Currently, our client is looking for investors to win funding for further project development. And we are proud to have worked with such a client and delivered a blockchain project that can drive emerging markets by teaching people how to turn simple tasks into money.
Here is what the client says about our collaboration:
"They treat the project as if it is their own." (Rafael Zeitunian, CEO of the company)