SpankChain is a revolutionary blockchain-based solution developed for the adult industry. According to its website, SpankChain has obtained significant backing from individuals who identify the adult entertainment sector as a tool of innovation. SpankChain aims to make the most of the core advantages of blockchain technologies such as security, privacy, self-sovereign identity, and financial efficiency in the adult entertainment sector.
The motive is to accomplish the above goal while remaining highly obedient to legal codes. In order to achieve the objective, the platform deploys a framework that offers the main functionalities required to build and utilize a streaming or dormant content distribution application while delivering a scope of services that deliver better application functionality.
The SpankChain ecosystem consists of three layers: Core, Applications, and Services. The core layer offers the ecosystem's foundational smart contracts and vital infrastructure like a Performer Registry contract, a Payment Channel contract, and the Vynos payment channels wallet that are free to use. The Vynos wallet is an Ethereum wallet that supports payment channels.
Further, SpankChain's services layer offers extra paid services for the applications made on the SpankChain Core. These services possess payment channel hubs, age proof, live video streaming, ad and affiliate network, search, an interface builder, and more that are designed to be modular, allowing enterprises to pay only for what is needed. So, viewers can make payments to the models either in ETH or other ERC20 tokens that models accept.
According to its whitepaper, Spank is a unique staking token used to mint the other alternative tokens, providing actual payment and governance privileges in the SpankChain ecosystem. The multi-token prototype is developed to extract ecosystem-wide coordination functions from mechanisms showing platform usage liberties. Besides these facilities, the token can also be used to avail of the services on the SpankChain platform, like purchasing NFTs, paying the models, and more. These usages of the token allow users to readily participate on the platform while providing them with means that can help them involve in activities on and beyond the platform.
