Senno prides itself on being the very first platform on the blockchain for sentiment analysis that includes an open API to allow for third-party applications. Senno relies on AI algorithms and distributed sentiment analysis to deliver the real-time crowd wisdom ecosystem users have been looking for, along with intelligence analytics of a sophisticated nature. Senno sees itself as dramatically impacting the private and business sector, changing the way that decisions are made.
A key part of Senno is the sentiment analysis AI. This is the Artificial Neural Network (ANN) that analyzes user-generated data collected from sources such as forums, instant messaging platforms, and social networks. The ANN processes the information instantly, making it possible to react to live trends immediately. As the network continues to grow, the machine learning algorithms in use will work to optimize accuracy.
What Are Some Other Key Features of Senno?
Because it is based on the NEO blockchain, Senno is decentralized, as well as transparent and open source. It relies on smart contracts and distributed hardware, giving everyone the ability to contribute to the project via providing development skills or computing power. In return for these contributions, users receive SENNO tokens.
Senno also features a B2B SDK that lets third parties connect to the Senno network via the API. This, in turn, enables implementation and sentiment analysis on the app level as well as the platform level. The result is that end users get accurate sentiment data delivered to them in real-time.
How Does Senno Work?
Senno begins by collecting data automatically in real-time. This data collection comes from private and public web 2.0 channels plus live broadcast and video transcriptions. From there, Senno uses the NEO digital identity to classify the trusted data channels. Each receives a reputation score from the Senno AI algorithms.
Next, core analysis occurs by verifying payment via the blockchain, and then the system sorts data between new and existing queries, saving it to distributed storage. From there, the system conducts lexical analysis, validating contributions using the distributed hardware smart contract. This is also when Senno constructs sentiment analysis and sends it back to the system’s core.
The following step of the Senno process occurs on the NEO blockchain, where smart contracts complete transactions and rewards are paid to data providers who offer access to private channels or to hardware and software contributors. Finally, the distribution and monetization of the process occur. Third-party applications in the marketplace will come from a range of niches and let end users take advantage of sentiment analysis in a range of use cases.
What Should You Know about the SENNO Token and Its Ecosystem?
The SENNO token is a key part of the Senno ecosystem. The heart of this ecosystem and network is the SennoCore, which bridges on-chain smart contracts executed via the NEO blockchain and off-chain non-blockchain applications. You can view an easy-to-follow diagram of the SENNO ecosystem and its use of tokens on the project’s website.
Essentially, the SENNO ecosystem sends SENNO tokens to plugins, data collection tools, and hardware contributors, who in turn provide services for the core application. The core application delivers the sentiment analysis information to the SENNO users. Those users then pay SENNO tokens back to the SENNO ecosystem, allowing the cycle to continue.
Forty percent of the SENNO tokens is allocated for the crowdsale. Another 30 percent is allocated for reward tokens to be held by the network’s smart contracts. Fifteen percent goes to company shareholders (which excludes employees), 10 percent to business partners and advisors, and 5 percent to company employees.
When Is the Token Sale?
The Senno presale is currently in progress and ends at the beginning of May. During the sale, it accepts BTC, NEO, altcoins, wire transfers, Visa, and MasterCard. During the token sale, there is a total supply of 10 billion SENNO. Stage one is the presale, which includes a cap of $4 million. It has a base price of 1.6 SENNO for $0.01 and a bonus of between 20 and 50 percent. Stage two is the actual ICO with a cap of $25 million. The base price remains the same, but the bonus drops to between zero and 20 percent. For the presale, the bonuses are based on the size of the contribution.
The token vesting period will begin once SENNO gets listed on exchanges. Partners and advisors have a 24-month vesting period plus a 6-month cliff. Their tokens will be released every three months in a proportional manner. Employees have a 36-month vesting period and 12-month cliff, also with proportional releases every three months.
How Will Senno Use the Funds from the Token Sale?
Senno plans to use 50 percent of the company funds for research and development, as well as NLP and blockchain experts. Another 20 percent will go to sales and marketing staff, including their travel expenses. Ten percent each will go to management expenses, accounting and legal expenses, and other operational expenses, such as utilities, rent, administration, HR, and other staff.
Are Any Senno Apps Already Available?
The first planned implementation of Senno’s SDK for the platform is CryptoScanner. This is an app for the sentiment analysis of cryptocurrency market trading in real-time. It will include accurate mood and buzz indicators for each coin within a timeframe. This will be an open-source project and show off how the Senno Network’s user-side module can be implemented. It will include analysis and reports from the decentralized cloud storage, access to the semantic content, and access to smart contracts.
The other planned project is SENNOClient, which is a wallet for transferring and holding SENNO tokens. It also allows for managing hardware resource contributions to the network. It includes a marketplace for developers plus an application market known as SennoApps.
As the first sentiment analysis platform for the blockchain with an open API, Senno fills an untapped need within the blockchain world, taking advantage of the technology in a way that has not yet been harnessed. Because of its innovation, Senno is certainly a project to watch, particularly for those in the private or business sectors.