Hello, I would like to talk about Drep. Enjoy it!
Telegram username: @Coolgirlhere
Despite the growing popularity of Internet platforms, they still face the challenge of untrustworthy news and content. Drep increases user engagement rates and encourages users to provide high quality content and avoid malicious activity.
What is DREP?
DREP enables the Internet platform to quantify, monetize and share reputational value. The goal is to promote a more attractive, high quality and connected Internet community .
The DREP Foundation is building a system to advance this idea and turn it into reality. By establishing a decentralized reputation system, the DREP Foundation’s vision is to leverage a decentralized mechanism, economic incentives and data sharing to build a reputation-centric blockchain platform; break the data barrier between different Internet platforms and make it available on the Internet. Applications can maximize the value of reputation data.
DREP focuses on addressing these challenges for certain types of Internet platforms, including social platforms, tool platforms, content platforms and e-commerce platforms.
By introducing an economic incentive module, DREP aims to encourage participants on the Internet platform to assess and maintain their reputation, as users with high reputation characteristics can accumulate relatively high reputational value and receive a corresponding economic return.
Under DREP, the reputation of “goodwill” similar to intangible assets will be valued on the Internet platform. The way in which DREP quantifies credibility is based primarily on the behavior of potential reputation owners on the Internet, including posting content, reviews, ratings, voting, sharing, tips and transactions. Because reputation holders include natural people, merchants and articles, novels, music and TV shows, DREP’s solutions focus on quantifying and monetizing the reputation value of each reputation owner with their own characteristics.
In addition, DREP will form a system in which the reputation value of different Internet platforms will become part of the system, relying on each other and relying on each other to form the ultimate reputation pool. Therefore, the collective digital reputation value can be released in the interconnected DREP community and used to best meet the needs of the Internet platform and its users.
Through smart contract control components and different types of smart contract templates, DREP aims to break the barriers of the Internet platform entering the blockchain network. Use reputation as a link to DREP to connect the Internet platform to the interactive platform of the Internet community.
DREP also plans to help the development of the blockchain community through the joint establishment of joint laboratories and practice bases and the Dubai Blockchain Institute. If successful, DREP will be the game changer of the dispersed reputation network and the quality of the entire Internet community.
Founded in Singapore in early 2018, the DREP Foundation is an innovative technology company that provides decentralized solutions to quantify and monetize cross-platform online reputations. By distinguishing between false news and accounts, establishing a user growth system, increasing retention rates, and establishing a user reputation data sharing pool for DAPP (Distributed Reputation Application), DREP Foundation jointly developed and jointly developed 4 applications based on online reputation and content. Will be published soon.
Project Description
DREP (Decentralized Reputation System) is a decentralized solution based on blockchain technology, which realizes the value reconstruction and accelerated transformation of Internet platform through reputation value quantification, liquidation, transaction, investment and data sharing:
● Infrastructure that serves the Internet reputation system
● Reputation Connector: User Data Sharing Pool and Cross-Chain Interaction Protocol
● Reputation Accelerator: User Value Growth System and Traffic Realization Engine for Small and Medium-Scale Applications
● Economic System: Reputation Endorsement Assets and Reputation Endorsement Currency
● Reputation Data, Currency, Asset Integration Trading platform
The core pain points DREP is aiming at:
● The blockchain application generally lacks a community growth system, and the token economy has a single attribute.
● The demand for tokenization for small and medium-sized applications is higher than the need for decentralization
● Traditional Internet platform is expensive, traffic is difficult to realize, and “escaped” is obvious.
● The reputation system of the traditional Internet platform exists: the data is not credible, maliciously manipulated, and the evaluation mechanism is single.
Lack of economic incentives and issues such as the “island effect”
● The most significant flaw in the existing Internet platform is a series of reputation distortion problems brought about by “centralization”.
For example, the phenomenon of “water army”, the phenomenon of “single brush”, the phenomenon of “bad judge”, and the phenomenon of “pushing hands”.
Based on the above ubiquitous problems, DREP must consider the following technical factors in order to implement a solution and consider complex business scenarios:
● Concurrency and response speed
● Security and privacy
● Network upgrade and maintenance
● Expansion ability
● Smart contract
● Built-in tokens
● Economic incentives
In summary, DREP chose to build its own DREP underlying network based on the underlying technology of the blockchain.
DREP will build on the underlying network of independent development and build core service layers, including: reputation quantization algorithm library, reputation realization model, voting system, false account identification mechanism, artificial intelligence + semantic analysis, smart contract templates and components, role definition and management. , reputation value account management system, user information sharing pool, user value growth system, traffic realization engine, open source code integration program; based on this support DRApp decentralized reputation application, DREP integrated trading platform, blockchain browser, wallet , plugins and derivative applications, developer tools, and more.
Token information
Project website: https://drep.org/
Project Type: Reputation Ecosystem, including public chain, underlying protocols, DRapp applications, etc.
Total tokens: 10 billion
Sales token: 30%, 3 billion
Project hard top: $19.8 million (original 28.7 million, 7/11 changed to 19.8 million)
Token unit price: 1 DREP = 0.0077 USD
Public offering date: At the end of July, all whitelisted users are equally divided and their personal share is too small.
Online forecast: August
Lock position information:
Private sales: 7.5% token, 30% discount, 50% token lock for 90 days, $4 million
Private pre-sale: 6% token, 15% discount, 50% token lock for 45 days, $3.9 million
Open pre-sale: 10.5% token, 10% discount, 50% token lock for 30 days, $7.3 million
Open crowdfunding: 6% token, no discount, no lock, $4.6 million
Team and consultant
The founder of the team includes Xu Xiaolong, the chief development engineer of the former quantum chain, with strong overall technical strength.
The consultants include Vice President of HP Asia Pacific, Director of KAUST Fund, Founder of Workzpace.com, President of STK Group, etc., with strong influence.
overall evaluation
At present, DREP is the first blockchain project to establish a credible ecosystem economic system. Let’s not talk about the current Internet chaos. It is just a small new industry in the blockchain. It is already full of fraud. Problems such as dishonesty, a lot of pheasant projects such as air currency and pyramid money, which are marked by the blockchain, and the so-called chopping project of the so-called celebrity endorsement, have already made the blockchain’s own reputation into a beach. Therefore, I personally think that the emergence of DREP is very necessary.
The development direction of DREP is quite good. With the addition of Xu Xiaolong, the technical strength of the team is beyond doubt. In addition to the consultants mentioned above, QuarkChain founder and CEO cycle, has served as a consultant to the DREP Foundation, QuarkChain announced in-depth cooperation with DREP at the Beijing meeting on July 7th, and received QKC for fundraising.