Tokenization becomes a mainstream. This fact can hardly be denied, since the number of cryptocurrencies approaches a thousand. That is why experienced users can rarely be surprised by the new conception - cryptocurrencies just duplicate one another, often differing by the name only.
The developers of the new Ethereum-based token managed to surprise the crypto-currency community by the new interesting conception and the way of receiving crypto-currency, called Proof-of-Facebook. A token itself has been created as an experiment, during which the developers plan to investigate the process of value acquisition by cryptocurrencies.
This is what the developers say:
So many cryptocurrencies exist at the moment. Useful projects, such as Ethereum, are actually few, however, some cryptocurrencies have a high price, since there is a demand on them. We’ve decided to make an experiment by simply distributing tokens among people, and track the process of demand growth from the very beginning.
A new token is called Face, and it can be received for free on the TokenFace project website. For that, one should only connect his/her Ethereum wallet to the Facebook account for authentication and the prevention of the multiple receiving of tokens by the same people.
Every user, who will pass Proof-of-Facebook authentication, will receive 100 Face tokens. In addition, one can receive a particular amount of cryptocurrency later on via the six-level referral system.
One should mention that such way of free token distribution was used by the project Byteball. Users that possessed a certain number of Bitcoins, were able to receive a corresponding number of GByte tokens. Despite the fact that GBytes were distributed totally for free, their present price is almost $70 (according to coinmarketcap info).
To receive Face tokens, a user must possess an Ethereum wallet with a small number of Ether on balance. This sum will be used during the requesting smart contract. The most convenient way to set up Ethereum wallet is a Metamask plugin for Chrome.
After customizing the wallet, a user should pass authentication on the website tokenface.org, using his/her Facebook account and the received referral link.
During the Proof-of-Facebook procedure a user gets a temporal personal User Access Token and automatically sends it to smart contract, which verifies its identity in Facebook Graph API Explorer. After the authentication every user is charged 100 Face tokens.
TokenFace developers believe that the success of currency depends in the first place on the number of people, who own and use it. That is why, for the fast crypto-currency distribution the six-level referral system is created. Every user will get additional 50 Face tokens for each referral, registered under the user’s link, 25 Face for the second level referral and so on. General number of Face is 10 million tokens.