What is the Media Foundation?
The Media Foundation is the organization responsible for spearheading and developing tools and applications atop the Media Protocol. It's the guiding entity behind the innovation and development shaping products like the smart contracts and Media Protocol.
What is the MEDIA token?
MEDIA is the governance and utility token of the Media Protocol & Media Network. It functions as a medium of exchange between clients and providers. In governance, MEDIA's decentralized nature places control in the hands of a collective, allowing token holders to cast votes on protocol decisions.
Is Media Protocol safe?
Safety and security have been top priorities for the Media Protocol. Designed as a robust decentralized protocol, it has efficiently managed myriad transactions seamlessly. Additionally, the contracts underpinning it have been meticulously examined by industry-leading security experts.
Does Media Protocol charge fees?
The Media Foundation itself doesn't levy any fees for users to access or operate on its platform. However, when engaging with the network, users might come across three main fees: (1) Network Fee, (2) Provider Fees, and (3) Protocol Fee.
Network Fees - As Media Protocol is blockchain-based, every transaction incurs a network fee, commonly termed as a "gas fee." These fees compensate network validators who use their systems to authenticate and process transactions, ensuring the decentralized nature of the platform. The magnitude of these fees is influenced by network activity — higher activity leads to increased fees and vice versa.
Provider Fees - These fees serve as remuneration for providers in the marketplace in exchange for the content or services they deliver. Though the percentage might differ based on various factors, this fee is directed straight to individual providers.
Protocol Fee - A specific fee designed to support and maintain the Media ecosystem. Accumulated protocol fees are pooled and then distributed based on decisions made by MEDIA token holders. This decentralized decision-making process empowers the community to determine the best use of these funds, whether it's for development, marketing, grants, or other initiatives that benefit the network.